The Sun.
London, England, 1804-05-29 00:00:00

to draw bills payable in efnaive (that not in
Paper.)
May not persons exchanging with Ireland, in
their calculations untruly presume a diminution of
value in the Paper to have arisen from excessive
issue, and not sufficiently taken into their calcula-
tion, and consequently not allow for it, the increas-
ed value which guineas have there acquired?—l
dare say it may be the case.
Under the present circumstances, would you de-
scribe the exchange between Great Britain and Ire.
land, to be in favour of Ireland, or the reverse
I should think very much against Ireland.

Do you conceive an exchange at t o 6 to be against
Ireland ?—I do not.

.is not that the present state of exchange with the
North ?—I have understood so.

Do you suppose that the to 6 there paid in specie,
does, in point of value from local circumstances,
possess a greater value than its nominal amount ?
I am not prepared to answer accurately ; but I should
think the premium paid for guineas ought to be
added to the rate of exchange.
Did you ever hear of airy bills being drawn on
Ireland payable in effeaive (that is, not in paper),
previous to the Restriaion Bill, when the rate of
exchange was at times much above par ?--No, nor
since.

To what circumstanCe a° you attribute the ex-
change being morc favourable to Belfast than any
other part of Ireland ?—To the circulation of gold,
and for which they must pay a premium, which
must he added to the exchange.
Would gold sufficient for the use of any great
manut.during distrit in Great Britain, should the
'inhabitants of such distrid refu•e the paper as a
circulating medium, be obtained, in your opinion,
without some advance on the price of guineas ?
At this time clearly' not.

Suppose that advance to be 1,2, or 3 per -cent.
would not bills payable in gold be worth such ad-
vanced price over bills paid in Bank of England
Notes ?—I conceive so.

Supposing the premium on guineas, when ex_
charged f-(r paper, to result from a locally high
price of guineas, and not from a depreciated paper,
will not the amount of that premium be limite•i
by the expence of bringing gold from the nearest
parts of the world where there is a current market
for it ?,—lt ought to be, and I think it would.
What should you think the present expence of
bringing guineas to Ireland from the nearest parts
of the world, in which there is a current market
for gold ?—I am not prepared to answer.
Is there not at present a difF!rence between the
value of Irish and English Bank Paper in Ireland ?
—For the purposes of remittance, certainly.
Do you not conceive that the fad of a premium
existing on English Bank Notes in Ireland, and ex-
changed for Irish Bank. Notes, affArds some indi-
cation that it is Irish Paper which is depreciated,
and not the prke of gold which is locally raised ?
do'not.

Has not the pratlice of using gold in the North
of Ireland, as the medium of commerce, subsisted
for a long time, or has there been some new prac-
tice in that respeet, which has led to a new demand
for gold ?—I have not heard of any new pratlice.
Supposing gold coined and obtained by Ireland,
would not the present price of bullion take it out
of circulation ?—I think it would tend to it in some
degree, but the exchanges with foreign Countries
having lately become more favourable, would go
very far to correct that evil.

Do you think that dealers in exchange are greater
gainers when the rate of exchange is high, or low ?
—I ►think, inasmuch as the charges would be heavier
when the exchange is high, the expences being
higher, they would be losers; but in other respects,
the loss or gain depends on the difference between
the two courses.

Does any palliative or temporary remedy occur to
you, which could lessen or remove the evils arising
from the high rate of exchange while the aft on the
restridion on gold continues ?—I am not aware of
any.

-Does not the reduEtion of profit on the exchange
business, when the rate is high; tend to lessen the
competition in the market for the purchase of bills ?
I do not think it does, as far as my experience goes.

(Tv be rfmtinued.

LANCASTER, MAY 26.

ON Monday last, the thirteen Friendly Societies
in this town, held their Annual Festival. In the
morning, the members, preceded by a band of music,
and each of the Societies with an appropriate banner,
went from Dalton-square to the church, where an
excellent discourse was delivered by the Rev.
Roe ERT HousEMAN, A. B. after which they dined
at the houses where the Clubs are held, and the day
was spent with the greate,st harmony. The total
number of members is 21r4 ; and their expences, in
funerals (29) and recovering the sick, last year,
amounted to 83711. 13s. 6d.
There are also three Female Friendly Societies in
this town, containing 199 members, whose ex.
pences, last year (including one funeral), amounted
to 34]. 8,1. 9d.
The Caton Friendly Society, on Tuesday last,
according w annual custom, attended divine service,
and afterwards dined together, spending the day in
the utmost harmony : as did also the Halton Friend-
ly Society.

The seventeen Friendly Societies of Kendal (in.
eluding two for females), had their annual Festival
on Monday last. The whole went in procession,
with their colours, accompanied. by the Gentlemen
of the Corporationi the Clergymen in their gowns,
and a great number of Volunteers in uniform, and
an excellent band of music, from the New Rod to
the Church, where an excellent discourse was de.
livered by the Rev. Mr. CARTMEL. After which
they went to their respeetive houses to dinner,
and the day was spent in convivial harmony and
brotherly love.