The Sun.
London, England, 1804-06-13 00:00:00

contain an ounce of gOld ?—That is the coina
prie of gold in England.
' Could not• bullion likewise he purchased .at -tha
rate formerly ?-7—When that was the price of bul

If gold bullion .can be 'purchased in the market
of London at 41. is. the ounce, and if it cannot
be purchased in .Irelan'd at 41. 79,‘91. or nearly
at that rate, how can these two sums be supposed
to-represent one another, and be the par of ex:
change ?—I never heard of their dealing in bul-
lion in Ireland.
As long as a sum ofEnglish currency, representing
a pound of bullion, can purchase a. bill -for a sum of
Irish currency, representing a pound .of bullion,
would you not deem the exchange at par, whatever
were the number of pounds sterling expressed in
either sum ?.—I should never deem the exchange at
par but when for tool. paid in England I receive
1081..65, Bd. in Dublin, or paying to 81.• 6s. Bd. in
Dublin, for which I receive tool. in London,' and
at that rate for a greater or less sum.
Would you still-be of this opinio-n;if it should be
found that 3l: 17s. to+ d. in English circulating me-
dium, in Bank Nines, will purchase an ounce of gold,
and that 41„4,,5d. in Irish circulating medium, name-
ly, Irish Bank Notes, will only purchase it penny_
weights of gold ?—I should still be of the same opi-
nion, that the par .is 8 i.third per cent.'; but I
might say the
.exchange were *above or below par,
if there was any variation.
If the exchange between London, and Dublin was
at 130 per cent. would you not deem the exchange
at par, if it appeared thit from any circumstances
1301. in Irish Bank Notes would.purchase more
bullion than tool. English should not.
Do you not think that in such a case it would be
more just to conclude, . that Irish Bank Notes had
,lost- 21 per cent, of their value, and that the ex_.
change was risen to that sum ?—The only way
should. be able to account for so high an excharige.as
130 per cent, would be by concluding, that the ba.
lance, general debt to be remitted from Ireland to
England was very great indeed.
•If it should be the interest of remitters to remit
in guineas rather than in bills, are guineas always
to be procured for that purpose ?,--When there is a
restrietiOn on the Banks, they could not be procured
in either country. • -
What was the price of gold in 1799. and !Soo,'
when the exchange was' in its most favourable
state?--I think, as well as I recollth, it was
printed at 41. an ounce, but it was not to be met
with at that price, neither now.

What is the most unfavourable state of the ex.
change, an-. 1 the highest price of gold which you
have known during the, period the Bank of England
was paying in cash ?—I think I have known the
price of gold bullion as high as from 4i. as; t,
41. 23. before the restriaion, which occasioned a
loss of $ per cent. on all the bullion coined into
guineas, rind the exchange must have been unfavour-
able i-n the same degree. •
Do you know. of any particular circumstances
that should cause the exchange between Ireland and
Great Britain' to fluetuate more than that between
Great Britain and the Continent ?—I think there
ought not, but I have rtated a circumstance be-
_
tween Great Britain and Ireland which has no pa-
rallel in the Continent, or between any other coun-
tries that I ever heard of, namely, the great sums
of money drawn from Ireland to England by the
nobility and gentry of Ireland.
Previous to the restridion, were not the issues of
paper of the Bank of England in a great degree re_
gulated by the balance of cash and bullion in its
c.)ffers ?—lt otfght always to be so in a great mea-
sure.

Does not an unfavourable •exchange necessarily
cause a drain on, its coffers of specie to be remitted
to the Continent ?—I think it generally does, when
there'is no restriction.

Was not therefore the issue of the paper of the
Bark, in a great degree limited by the state of the
foreign exchange ?—As far as this appeared neces-
sary, in the contemplation of the Dire tors of the
Bank, it would certainly have its weight.

ROBERT BARNEWALL, ESQ. MERCHANT IN LOW

DONS EXAMINED.

Do you know any thing of the exchange between
Ireland and England ?—lt is at present very high,
attributable to the. demands of this country on Ire-
land exceeding the demands of that country upon
this.

Do you iMagine the restrilion on the,,two Banks,
or on the Bank of Ireland, of issuing specie, has
had ariy' effc.o on it ?—I think considerably.
What is your reason ?—Because if specie could
be had there to transmit to this. country, exchange
never *ould have risen to the height it has.
DJes any remedy occur to you during the restric-
.

tion to remove or alleviate ,the incr,)nveniencies ?
None, unless the demands of this country could be
reduced.

What is the nature of those demands ?—For
goods imported into Ireland, and the revenues of
the absentees.

Does any mode occur to you for decreasing the
amount of the Revenues of the absentees to be
transmitted hither i—None.

Is there any other mode remaining than that of
decreasing the imports into Ireland ?—None.
Would not the increasing the exports of Ireland
have a similar effect ?—Certainly.
Do you know whether there is any depreciation
of paper in Ireland understand there is, or a
premium for 'guineas, which in effect is the same
thing.

What do you attribute that depreciition to ?
To the restriction in the issue of specie, as I appre-
hend.