The Sun.
London, England, 1804-03-06 00:00:00

IPRICE 'IXPENCE.

iMPERML PARLIAAIENT.

HOUSE OF .PEERS..
. MONDAY , NIMICH 5. .
THE various Bills before the House Were for_
t-varded in-their `riii4Etive.stages, and some routine
busioesi disposed ,of. .„
Mr: ALEXANDER, attended by several Members,
brought up the Mutiny Bill.
On the occasion of its first reading,'
The East of SUFFOLK took the oppiirtunity 'to
state,. that it was his intention, after the recess,
shotild no other Peer,indre competent to do justice
to the subject 'than'thiruSelf come 'forward' on the
occasion, to call the attention—of the House to
. an 'affair of considerable importance, and which had
been the subjed of a Correspondence between a
Noble `and Learned Lord and another Noble Lord in
Ireland:

HIS MAIESTY's HEA-LTH.
The order being read for their. Lordihips to re.
iolve Into a Committee on the Duke Of YORK'S
Estate Bill,
.and on the question being put,
The LORD CHANCELLOR quitted the Wool-
sack, and observed, that relative to -a Bill 61. the
peculiar nature of the
,present, His Majesty's crcri..
currence in the proceeding was more especially ne-
•cessary. Fie therefore rose for the purpose of 'in.
for Ming the House, that he had the honour yetter-
day,of an interview with His Majesty, and which
was repeated this day ; that he had informed His
Majesty of the contents of the'Rill, itnd 'that) Ills
Majesty was graciously pleased to say, with. re-
ference to the sam; that, as ta'r:'as 'His .MijFsty's
interest Was concerned, their Lnrdships might .pro-
ceed with the Bill.
T:if 'Bill then pass'e'd the Corrintittee without, ob.
servat ion or.Amentiment,.and was ordered to be re.
parted,
rteii to-morrow,. , ,
BANK REStItICTiON,
I, ' •
After some, time waSela'psed, the otlietrOtitei of
the Day. (which was for the second reading 'of the
Bank.of Ireland Restriaion Bill) was
.Oo the Question being put, - '
Lord •KING rose, and in a' SpeeCh or Sortie length,
delivered his sentiments, not np-n the subjta
more
.eSPecially. tinder ;he cunsideTieon
Lordships;but upon'Other tOpics°,l
essentially Conneacd. with it, namely, 'the' Rei•tric-
.
lion upon the NatiOnal'Pank this Cthintry;
-.tfmgetterain Paf,-er Circulation of the United King.
dOms. In illustrating his various ptiiitiiin; his
tas were, in a "still greater tregrte,- The
• two i:OlOwiog Speakers), was necessarily led into a
, ,
variety or calculation and os anccurs, which, it being
to do'jtstice to, 'we shall not attempt
to recite. With respea tethe measure itself,' the
ReitrktiOnn of the Bank of Tiel'and, he insisted that
.it hadjieeli' procluAiva, noti.kithstandinz what was
...advanced, of
_great, perichs, and: alarming intonve.
niences:; and-considerable inconveniences were;felt
O this Country in , consequence of the Restriaion
ypon,the.Banl: cf.Engtand, though not in so great
degree. With respect tso this part of the questioniai it •
laiieaed Ireland,, he Woultfrefer it to the'decisiO'n of
s f.
,all who possessed property, in mai cOuntry, and wotild
ask tlAzra if they had not felt great and serious "inch_
. vcrecnce:3 on account cf tfle 'restriCt.;.on.and its' con-
sequent injurious effea, an exeesSilie issue of paper
There was alSo a particular descilption of persons,
more tb r any 'cit!l".l', he thought, 13verCae.
serving. of the favourable attentions'of GOVerntnent,
namely, the Publje.Creditiirs 'of that Coun:ry',-.#iha
of courz:e received theraidount of their dividends; in
a depreciated curre.e.Cy.. 'lt Wa's thought iieceSsiryon
the part of Governibent, that certain OfriCeri.dteitild
receive compensation 'on that score;'but hellioqght
the Public Creditor had as-go6ii, if not a greater'right
to such? consideration, than any Offieer"whatei?er.
In consequence of the depreciated state of the Irish
currency, those who had made contraas priOr to
the year 1797, when the Restriaion was laid' on,
and were paid subsequently in , Iristr.Barik-notes,
must experience a lOSS commerrAitate to 'the depre-
ciatioo which took place. in the In what he
had thrown out.On, this 'subjea,' he meant no per.
3onal reflealOn upon the Irish Bank Direlors,
though in some points of view he could not avoid
considering
.their conduft'as reprehensible. He then
adverted to the issue of Irish Bank Paper, which
took place at different periods[ He pointed out the
progressive. increase—when the amount
_issued was
. conaparativelylow, the rate of ;Exchange was in
favour of Ireland ; as the issue
.increased, so did
the unfavourable state of the Exchange.• In the year
1802, it appeared by clocuritentary evidence, that the
eg;it,mtity of IriSh BankPaper'isued was 2,600,0001.
n thelast year. it was' and that even
in the 'course of the, last year 'the increased quantity
wa5,300,6291., There'svas another material consi.
deratir:n carrneeled
,With this excessive Paper issue,
namely, the liabilities 'which it afforde&to the prac.
,tire of Forgery, and this observation applied 'also
to,the circulation of 'Private Paper." He regretted,
knot
the Clause proposed' last "session by -him was
.oat adopted, as' it would, to a'certain degree, have
tended to couhteraa the evil. In this part of his
Speech, the,
,Noble Lard went into some de.
tailed arguments, to, prove the incoi.Veniencies
and
,injurious consequences of art excessive Piper
lv,ue ard also to establish the point, that. it was
the intereif of tließank of freland to,havi a i.t'ge
issue of Paper. uclt stress had been laid on the
ensecure state Of:lreland, 'as the Chief cause of the
high rate of Agait4t her, and of the de.
precialcd'at* other ;currency ; the faa, however,
and was capable Of detnitistrative proof, was other-
wise.; because,' at a period" when Ireland was no.
torior.ssly in a very dangerous state, as in the ytitt
~.;798, the Excliiri4e 'Was by no means so finch
.against her as at Subsequent'periods : in the eutitie

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