The Sun.
London, England, 1804-07-14 00:00:00

EXTRACT

FRAM MINUTIES OF,,EVIDENCE

Taken before the Committee appointed to inquire into the
State of I rcland, as to its Circulating Paper ; its Specie and
Current Coin; and the Exchange between that part of the
United Kingdom and Great Britain
The Right Hon; 101 IN VOSI'EII, in the Chair.
(Contipued front oar Pape►•. of Thuredgy.) "

THOMAS THORPE FRANK, ESQ. EXCHANGE MER.

CHANT OF -DUBLIN, EXAMINED..
9

What do you understand to be the circulation in
the • country parts of Ireland for all sums under a
guine'a ?—Part ni it 'is supplied by the circulation
of paper, called Silver Notes, part of it by the cir.
culation of silver ; but whether good or bad I can.
not say. . _

In what parts does the circulation of silver • notes
principally prevail ?—I believe generally througli.
out the South. I understand that some time ago
*mut forty banks were registered, and other houses
circulated without being registered.
Have any inconveniences' or losses attended that
species of circulation called silver.notes ?—I belieye
there have to the holders of those notes.

• Through what means ?=-By the inability of 'the
persons whu issued then to pay them.
Are those notes more liable to forgery than Bank
of Ireland notes ?-r-They are more liable, and the:
reason is, that it is impossible for any person emit.
ting any Considerable quantity of that . paper to,,
provide the necessary checks,
Do you think that the increasing the issue of
silvei notes in Ireland • at present would' he advis.
able ?—I think not ; think it would be attended
• with a,great deal of difficulty at a future d iy, in in.
creasing one of what I think the greatest evils that •
could happen to that Country 1 Iconsider it a very
great evil when , personi going to receive a great
-quantity of money, are to receive a great quantity
of small notes, or not receive it at all ; I know
that the quantity of small notes to be given in pay-
, went may be restriacd by law, but it cannot by
pm.
Would you think the issue of small notes in Dub.
lin to be an adequate or advisable remedy
not ;,I wish to add; that in stating4oO,oool. or '
sorhoool. of silver currency to be,probably neees.
sary, I, had, in my contemplation the supply of Ire.
land, and the addition of a Sufficient copper coinage.
What would you deem to be a sufficient copper-
coinage ?—I think that the necessary supply ,would
amount to zoo,oool.

What is the stote of the present copper currency
in Ireland ?—lt is Very bad ; very little of it Mint
Copper.

Would any difficnity or expense attend "the im.
mediate procuriog of copper coinage I—l cannot
say there would be a'.difficulty ;- and as for .the ex.
pence, it would be issued as a marmfaelure. I be-
lieve, that the last copper: coinage for 'England was
issued at I /id, for the. pound weight of copper, I
mean:l:U(lin coinage, to meet' the natural exchange
between England and Ireland 'and the present ex_
change, and to pay for the expenses of transporting
it ; I belieVe it would bring the number of half.,
pence in the pound to about ,49 halfpence, taking
copper at 143 pounds the ton weight, that 'is, tak-
ing it as a'measuie to pay all its own expences, and
at the present price.ot exchange.
• Through what channel would you propose, Or by
what means, an iiflinediate supply of copper for
'lreland'; and is the B'snk of Ireland ready to un.
dertake it ?—The Bank of Ireland would under.
take it, or any thing of that kind, but under the di.
rcCtion of Governinent, whom they consider it their
duty to assist as far as their own trouble could go.
Lan you form any npiniOn of what:mak be the
gro!is amount of the deficiency in the value of the
silver and copper currency ?—With respqt to the
silver coin, it is exceedingly difficult to form an
opinion to-answer that question ; I. would hope that,
00,0001. might possibly cover all losse's that Would
occur to individuals on it ; but it really is so. dia.
cult to form an opinion, that I would rather wish
to 'decline the question. The bad copper coin will
find itv way out of the Country, as if, has done be.
fore; and though it would'produce,a temporary in.
convenience to individuals, it would be attended
with little loss in the end,

JOHN ROACH, ESQ. MERCHANT OF THE CITY OF

DUBLIN, UXAMINED.

I have 'connexions in houses In Cork and Lime.
rick, and other. parts of Ireland.
Can .you give any information of the state of
silver currency in Leland conceive it almost
to be totally suppressed in the southern parts of
Ireland indeed, wholly siippreised.'
What is the VACUUM supplied by I-rßy the issue
of silver notes.

What is your general'opinton•uptin the nature of
these notes ?—I consider their issue as prejudicial.
In what tespen I—That they have teoded, in the
Ant place, to take away the whole of, the. circula-
tion of silver that had been in currency, and in the
next place, that the increasing issue of silver notes,-
together with the increasing issue of private bank 7:
ers notes. of every other descriptipn, 'ha3 tended to
eqhance the articles of the export trade of Ireland
above their natural value, and that it has injured
the articles of those-eZports in foreign,markets ;
that it has also created a degree of false credit in
the, southern parts of.lreland, which lets of course
also enhanced the price of lands, &c. •
In what proport►or}. P—l cannot say in what pro-
portion, it being a mere opinion of my own ;
conceive 'small notes, as well as silver notes, to
have hail the :sanie effed, and to have increased the
generaleirculation of paper. • • -,
Can you forth any opirun of the quantity of
ver.paper circulating in the City of -Cork sup.
pose between 150,0001. and. 160,0001. and in Lime-
rick about 60,0b01. •
Are there more silver flows in Cork. and Lime-
rick than would he necessary to answer
,the put.
,poses of eircolationt—lnmy opinion, there are.
Is the fectlity of borrowing moneys, or in other
words', getting discounts, increased'?,-..1T1 my opi_
ni...m,.the facility of
,borrowing is itircased by the
greater issue' of 'paper.