The Sun.
London, England, 1804-06-22 00:00:00

JOHN IRVING, ESQ. EXAMINED.

Have you any opinion 'as to the balance of trade
between England and Ireland ; in favour of which
Country it is ?-Ido not know th•e fad ; but,judg_
irtg from the state of exchange, I should be of opi-
nion tlrat the balance of trade, or-rather the balance
of payments, is in favour of England; 1 mean not
only these payments which Ireland has to make tO
Englaril fiat •public debt or private debt, but for all
the payments which England has to make for Ire.
land to foreign Countries '; suck as, Hrilland for
dye stuffs ; France, Spain,.and Portugal, for wines;
America for tobacco, Sec..; :which payments, from
the present state of Ireland, as well as from usage,
I take it are entirely through themedium.of Eng.
1-and.

May not a balance of trade be in favour of Ire..
land, althbugh: the.halance of debt or remittances
be ag.iinst it ?—Yes.
Whitt is yotir opinion as' to the :balance of trade
Singly at this. moment ?—.-Speaking at this time, I
should be inclined to thank that the balance of trade
nray beagainA Ireland; one of its most important
articles of ex.port, salted provisions, having greatly
diminished in .demand, and very• much diminished.
in: price. The. balance of trade I have. understood to
lie in general in favour of Ireland.
What- are the causes of the decrease in:the dethand
for, salted provisions, .and is the demand likely to
rise again ?--.The cause to which I ascribe the -di.
minisoed demand; •arises from the principal part of •
the Nivy being on Home. Stations; and no great
offensive operations requiring•the-ernploy of Trans.
ports having.taken place ; and the Navy- being prin. •
cipallv fed on fresh provisions.
Do you-nor conceive the exchange to 'depend on
the balance of"payments rather than on the balance
of t rade.?--Centainly. .
Do yolu conceive the balance of .paythents between
Ireland and Great Britain to have-been for any con.
siderabie• time against Ireland ?—Yes ; I think
from 1297 ; because for several years. preceding '
that-period,, the exohange had been favottrable, but
since then it has been unfavourable.
DJ you then mean to say, that Ireland has ever
since .1797 been .annually y, rowing more and more
in debt to Great Britain ?—I think from different
causes, tut principally from political causes, that
greater sums than . heretofore have been withdrawn
from Ireland through the medium of England.
DO you conceive that the aggregate of those gums
has atrionnted, .sinee• 1797, to more than the sums
which the British Government has in the same'
period furnished in the way of loan to Ireland ?-i'
From the progressive advance in the rise of ex.
change, I should think it does. •
Dolou then assume this to hts' the fact, in con.
sequence of: the state of exchange do, having
no other means of judging.
- SlippoSing the British Ziovernment to cease from
furnishing annually to Ireland the loans which it has
lately.supislied, do you conceive that the exchange
would rise materially above • its present., rate
this ii -would; while the British:,Government
continues ,to•furnish' the same loan, Ireland will
thereby have to pay to England a continually in-
creasing. suns for interest.

Do you not suppose that the exchange is-likely in
that case also, to rise, through the reinittanct of suet
increasing stiro-for,interest—Yei. •
DI you conceive that there is no other cause for
.an unfavourable--e:xchange, 'exoltt that which you
have stated, of an unt4 vourable balance of pay.
mews ?-I.think, none.

Do you conceive there is any Temeciy for•the
favourpblerate of. exc'ha'nge; and what is that •re-
tnetlit ?—Lam of opinion,othat, if 'the B.inki,of
land were to invest a part of its capital in conveiti.
bk Securities 'of Errgiand,-either iii the hands of the
Bank of England, or in the hands of its own.corresL
pondents, thereby furnishing -a fund•whin-would:at
all times give it the means of drawing, it would in
th such caseave.a controul over exchange operation's
of such power as to‘eriableit at all. times to reglitafe
the exchange, The 'creation of.suolt a fund in Lon-
don might, and -mow probably would be, attended
with considerable expense to the Bank, but the evil

of .the expence would be temporary ; the good Wottid,
be permanent .th the Bank and to the public.' This'
plan would necessarily oblige the Bank of Ireland' to
be dealers in exchange, but this would be a new
source of advantage, which. probably Would aO. more
• than ,compensate the risk and additional trouble.
Another plan would• answer the same end, that .Of
making -Bank of Ireland Notes payable, at the
tion-of the holder, in Bank of England Notes, at a
axed premium.