The Sun.
London, England, 1804-05-26 00:00:00

on Exchequer. Bills,' or by discount ; and this
last meas►►tc, if it was ever intended that the
Bank of Ireland should pay the Bank of England
for such advances, it could only lower the, ex-
change for the moment of such exchange of notes
continuing, because when the Bank of Ireland
should be called on for payment of their debt, they
must either go on Change
.and take bills for such
amount as would raise exchange considerably more
than any gradual demand of bills, or they must send
guineas for the repayment of their debt out of their
Bank; and they might as well make an open issue
of specie, independent of the Bank of England, as
adopt this last mode of payment, and thus the whole
loss of exchange for the whole Country would fall
upon the Bank of Ireland ; there may be other oh.
jeBions against the measure, such as the difficulty of
proportioning the specie bet Ween the two Banks.
I beg this evidence to be understood as my indivi.
dual opinion, and not that of the Court of Direaors
in England: As to the plan of issuing part of
their notes for Ireland, and another part negotiable
in• England, it would be a considerable check to
the objeft of lowering the exchange, as it would
reduce the holders of the note; intended for Ire.
land, to the necessity of sending them to. Dublin,
to get them exchanged for those passable in Eng-
land ; for it is not reasonable to suppose that any
Country Banker would keep, as part of his store,
notes not serviceable to him in Ireland.

Suppose all money to be remitted to Ireland on
the part of the English Government, whether for
loans or other causes, was to be sent to the Com-
missioners of the Treasury of Ireland, in British
Bank Notes, to be by them immediately placed as
they would, if it was specie, in the Bank of Ire-
land, would any benefit either to circulation, or
to exchange in Ireland, arise therefrom ?—lt would
deprive the Treasury of the use of such sums for at
least one month, which they now get by drawing
their bills at 21 days. If the Government of Ire-
land received from the Bank of Ireland the value of
these notes at par, of course the profit of exchange.
would go to the Bank of Ireland, unless they chose
to forego such an advantage,. and to give it to the
Merchants.

If they did do so, would it have any beneficial
effe& on the exchange more than the present mode ?-
-Only for the moment that they negociated on
Change these Bank Notes, and then to the extent of
such rate of exchange as they should fix on.
Would it not throw the power of fixing the rate
of exchange on the Bank of Ireland ?—Certainly, so
far as it goe3.
Is that more natural to a commeecial Country,
than leaving the power in the Treasury ?—That
depends very much upon the use each would make
of ir.

• Which do you think, the Treasury or the Bank
of Ireland must likely to consult the Public interest
in the regulation of exchange, in preference to pro-
fit do not know what the condul of the Bank
of Ireland would be; but the diredions I have ever
received in the condo& of the business of the Trea-
sury, has been, not to press for the highest price,
but to keep the exchange as steady as possible.
Is it not the pratlice of the Treasury of Ireland
to draw at a rate of exchange below the market
rare, with a view to prevent an exorbitant rate of
exchange ?—Certainly, they always do draw at the
lowest rate of the day, and sometimes under.

(74 be conzinued).

DUMFRIES,' MAY IS.

Ox Tuesday last, the diligence from Edinburgh
to Dumfries, with three inside and one outside pas-
sengers, in descending Moss Fenna path (which is
very dangerous and steep, with different windings),
the pole-piece gave way, from its insufficiency, upon
which the carriage rushed precipitately forward upon
the horses, who took fright : the postilion's board
was upset, avid the outside passenger thrown tack.
ward, beteixt the front of the carriage and the
foot board. The driver concluded the carriage
with the horses at full flight, through the windings
of the path, and stopped them at the rising of the
road. The passengers in the carriage
.conceived,
at the instant, that they saw the outside passenger
thrown off his seat, that the carriage, would run
over him, and they concluded his instant death as
certain ; and the idea of his unhappy fate suspended
their apprehensions of their own imminent danger
at the•time.—The driver having stopped the horses
for the first time, looked round, and, to his asto-
nishment, found the Gentleman, who was outside.
passenger, suspended betwixt the front of the car-
riage and the foot board, hanging by the board with
the one hand, and the springs of the carriage with
the other, and who, with his aid, instantly sprung
up upon the foot board, leaped off, and seized the
horses by the head, for the security of his fellow-
passengers, till they got out of the carriage, and to
their astonishment, they found he had sustained no
other injury than a bruised finger. The carriage
having proceeded to the Crook Inn,- it, as well as
the other carriage proceeding from Dumfries to
Edinburgh, were inspefted by a Justice of the Peace,
who found both insufficient, and granted warrant
for the passengers being 'f,,rwArded. in two post
chaises from the Crook Inn, by Moffat, 'to Dumfries,
at the expence of the proprietors of the diligence.