The Sun.
London, England, 1804-06-25 00:00:00

CORN EXCHANGE, JUNE 25.

WHEAT for to-day', Market is arrived in middling
quantity, higher prices are. asked, but sales in general
vary little since our last ; Barley in small dennind,
and Malt rather dearer, as are -Pease ; fine (Dais are
ready Sale, and keel, theit price, but other qualities
arc cheaper. Flour fully maintains last prices.

. .
Wheat 3os a 4os a ;;s. OZI Tick Beans - ,26s a 34s od.
Fi,:ie ditto -56 S a SSS oil Oats - acs a 22S a 2.is od
Rye - - -24 s a 27s od Poland ditto 26s a 275 bat
Barley - - 2Js a 25s od Rape Seed - 361. a 391.
Malt - - - 545 a 6os oil fiiie. Flour - 4os a 45s od
White Pease 3Os a' 42s wi Seconds 35s a 4os oil.
&a:is - - , 345 a 405 od

On 'Wednesday next, the Honotirable Artiflery
Company will be inspeded in the Artillery grouni:,
by Lieur,-Col. HARNAGE.-
A grand dinner was given at the Hotel called tl;e
English Club-house, at Hanover, on the 4th of June,
in celebration of our Sovereign's 13irth-day; . The
populace surrounded the place, and expressed their
j on the occasion by frequent shouts of 'God save
the KtNG,' &c. until at length tile French.Com-
rnandant deemed it expedient to order the Rattiic,n
under arms, and to dispute the parry,

EXCHANGE iftIPH IRELAND.

price of the cost of the goods is in so ,much ditni-
inishede and' their being rendered at a cheaper rate
at the market Of consumption; mast necessarily-in-
grease the•dernand ;el conceive, that when the cir-
culating medium of a countrY is alone specie; ;that
specie will be affected in its value by its abundance
or by its diminution, the same .as copper, brass,
cloth, or any other article of merchandize. ; • '
Suppo.ing coin and paper, to circulate at the same
time in , a country; arid "supposing the two, taken
JOHN IRVING, ESQ. AGAIN EXAMINED. : together, to become iralike manner 'greater in pro.
portion to the goods which they have to transfer,
List Onestion gut to the Witness and the An-
~ than thecirculateng medium ef'other countries, will
ewer read.
not the same. eff:Ct follow ; viz. will not the coin
Explain how the latter plan could be effeCled ?
he exported on account of the profit quenching the
The means of effecting the latter plan, I consider,
exportation, an 3 will it not coetinue to be .exportedwould be precisely the -same as would hi required
until a: Just. proportion bet tveere theeircolating me..
for the accomplishment'of the first-; viz, the hay-
until
of the exportieg7eountry as compared with
ing alund in LOndon, either in the hands of the
its goOds, aorl ~the circulating medium of other
Banjc of England, or in the hands of the Agent
of the Bank of Ireland ; which fund I am of countries as compared with their goods,- shall be
, :
established ?..----Ye:;, unquestionably. .. ,
opinion, might at all times be procured by the
Supposing plots alone to circulate in acountry,
Bank of Ireland taking bills at a given rate of
the banks haying been authorized to suspend moo
exchange, and by being drawers at a higher rate,
ney payments, and supposing the :quantity of paper
aTcche,mrevilsisahntoitiehest;imfuende,rAto; tlvlolineehanl ltohO.ek
eaxspleirlcrilLftoe
to ,he. in the same sense excessive, in reference to
• in Ireland for public purposes of the Empire, as a the pototityof goods to be circulated, will not .the
paper become cheap as compared with goods, or,. in
measure of convenience, and as likely matesially
to facilitate bath or either of the plans which Ihave other words, will not goods become dear as corn-
e pared with .paper, on an exaaly similar principle.;
proposed. I think the equalization of the rresnies.'
,and will not the limitation of the paper be.the only
of account, and the monies 'of circulation -in both'
means of sustaining its value as compared with the
countries, would be ildesitableamettsure. ' r alough
Valtie of the circulating' medium of other countries ?
I am aware that this might nor produce any imme-
-
diatealteration in the state of exchange, hhink,, —Yes'
Do you not then conceive that too,great a quail_
that by doing away* the name of exchange, that the '
city of circuloting paper will have. an influence on
raCtice- of 'its calculation might also cease, and that
the exchm)ge ?a—Yes,- ,
u
in progress of time, the same pra6lice which pre-
. Will not the exchange be raised by every acr_
vi-i s. between Edinburgh and London might prevail ea
mentation of Paper, anti depressed by every 11rnita.
between Dublin and London. Supposing this ar-
rangernent to take riled, it follows, in my opiniart, tion of ir, supposing no other circumstances to in.
terferc ?—lf thatePaper•be issued in proportion to
as probable, that the exchange between Dublin and
London might resolve itself something. into the fol_ its demand:in exchange, for good and convertible
'lowing position: The Bank of Ireland would be
securities, I think hat; which securities I have
'
takers of Bills at thirty days stated before to mean mercantile hills 'payable at a
date, and would be a ,
stated period, of undoubted solidity and credit, and
drawer of bills at sixty days date, thereby receiv-
founded upon real metcantite transaaions ;' upon
ing a profit upon . such transaetions of thirty days
public debt, payable at .specific periods; such, I
interest, or about one-half Per eerie. In the case
of Bank of Ireland .Notes being` eXchangeable for mean, as exchequer bills, scrip receipts, gold and
,
Bank of England Notes, I would propose,• that in silver, and property of such nature.
the body of -those Irish Notes, it should be stipu. Do you not conceive, that real bills, founded on
mercantile transadions, , may be multiplied. in' a
hated, that they are to be paid, at the'option of the.
mercantile•counrry to an immonsely great amount ;'
holder; in Bank of E.nglandNotett at i per. cent..
or in London at sixty. days sight, which, would' may not, for example, many persons adopt the
. praeliee of-selling.goods on credit, who were in-the
amount to rather more, tnan one per cent.
. habit of selling Ahem 'far ready money before.; and
Would you consider a loan of two, three, or foer
s
may not many persons, whoe. though selling on cre.
millions, made in England for the use of the Go.
-
vernipent of Ireland, .paid into the. Bank of En g 7 ; 81r' bills • for their
goods sold, be induced to fail 'into the habits of were not accustomed •to rake
land, to be placed there to the credit of the .Bankj
taking Bills, when they shalla-koow th'ztt 'an unlit
of Ireland, and to be drawn. for or remitted at the
muted quantity of sects bil!s;will be easily' discount
pleasuie,Of the latter Bank, would in any degree
able ; .may not also martypersons sell on,' long credit,
operate. in the nature of such a fund as you alluded ;
at six months for example, who before used to sell
to in the plan you have suggested?--Yes, to all
at two ritonths, and will not;. in .that ease, thrice
intents and.rurposes. thequantity of real bills beat the slime time in.exe
Do not both the plans which you have suggested
istence I—ln a country where coofitlence• prevails,
assume the creation of a new fund in London, upon
and in which credit is enjoyed without the inreircp.
Which the Bank of Ireland shall draw, and the im.
provement in the exchange to be the result of those tion of any apprehension of foreign invasion
.or.
civil war, I think, that in proportion as the means
drafts upon London 1--a-Yes. - . of capital are extended, so will be' the means of- cx-
Do you not mean, according to the first' plait,
tending ifs trade and commerce. Confidence-Leon;
that the Bank of Ireland shall give bills upon Lon. eider to be the foundation on which resift the whole
don at a fixed and very iniproved rate of exchange fabric
•
of p
quire aper circulation ; but confidence, in my.
.
for such of its own notes as the holders of then\ re.
estimation of it, is more extended in its funetions,
to have converted into'such bills on London i
—I mean, that the holders.of'stich notes should and does more than the whole aggregate of the cir—
ay
p
culat ing medium ; it is the basis or ,ellar, in a fuer-
a -premium of one, per cent. for English Noterin '
~
..., . cantile is phrase f
' •Cd lle d " Book aebts," which are
exchange. .
• 'Since 'there is now a premium of about to Per not represeoted by any circulating medium, bills of
exchange not beingegiven to for lem : Undoubtedly,
cent, on such exchange, do .you not conceive that
the facility of discounting bills will increase their
a considetable demand fdr-such bills in exchange for
aniount, and. furnishing' anew capital to their pos.
Bank of Ireland Notes would arise"?.-Ye-s. .
sensor, will enable him\ to carry on his trade with
Would not such exchange have the effeet of re- •
More facility, and to increase its amount in propor-
:clueing the present quantity of the circulating notes
tioo to the accommodation which he.so receives.
of the Bank of Ireland I—Certainly ; but I calm:
Is it not impossible,. in
,many cases, to distinguish
late, that the plan. which
.1 have proposed would
between bills drawn on the occasion' of the sale of
produce a reduction of exchange ; and that, when
goods, and bills drawn as a matter of accommoda.‘
that object is accomplished, no material increased
demand for Bank of England Notes would take ti" I—Yes. . .
..
place, and of course no material diminution of the Supposing discounts to be granted on'the security
of excheqtter bills, may not the amount of them,
Bank of Ireland Notes. -
ariselndefinitely, since Governtnerit' May issue ex-
Dues not the 'second plan, since it proposes to
chequer bills' to an bidefini te'amOunt,' and will have
make Bank of Ireland Notes payable either in Dub_ chequer
temptation to do so, if it• is known that they are
tin or in London, as the option of the holder, equally
imply, that the remedy for the present high ex. discountable to any extent I—Yes ; but in the course
change will result from a diminution of the present of my experience, I have never known a period
quantity of -Batik of Ireland Notes circulating in - when exchequer bills were not saleable.
What do you consider to be the current rate of
Ireland 1-1 conceive, that notes of such description in .
interest lreland ?----Stx pie cent.
-coming to England, would precisely operate in the
D:t'you mean to imply, ihat a Bank should itself
same way as would a bill on Londoo.
Do you then mean to say, that bath the remedies prescrihe , some limits to its issues, .and should not
rpettely liMit them by the sufficiency of the secu.
of the present high exchange .which you have sug-
rities. which may be offered ?—I think a Bank, 'pro-
gested, imply a redudion of the quantity of the
dently administered, will consider, in the first' place,
circulating paper of Ireland, .but that that circular_
the capital on which its eject::: lion is founded; sari,ing paper may again be augmented, to its present
in the second plate, that' it will consider the powers
quantity without any evil influence on the exchange ?
which there arc of absorbing that' circulation, and
—I .am of opinion, that a circulating medium, not •
therefore that its paper Could nor, Ind would 'nut,
depreciated, does not in its-quantity fix the rate of '
exchange. . upon the.. ptinciple .1 have stared, be indefinite iii
Does not the -quantity of circulating medium' oits amount.-
operate iii any degree, according to youtoopinion,
upon the exchange ?—I am of opinion, that a circle-
hating medium, which is the representative of pro.
perty, and is not property itselfs by such I mean
gold and silver, dues • not produce any effed upon
the exchange bio,veen countries. .
Supposing coin alone to circulate In a country, '
and supposing the quantity of coin' to become
greater in proportion to the goods which .it has to
pay for than a similar quantity of coin in other
countries, compared with the goods of those coon.
tries, will not the. coin which; is so augmented be-
come-cheap as compared with goods, or, in other
words, will not goods become dear as compared
with coin ; and will not a profit on the exportation
of the article which is rendered cheap at home,
through the augmentation of itsluantity, namely,
on coin, necessarily arise ?—I should say, Yes. I
have always understood, that a high exchange be-
tweed countries ope,ratts as a bounty on exports,
and as a duty on imports ; according to this posi.
tion, it necessarily follows, that when bills of ex..
change which are drawn in payment of goods ex-
ported, are payable in a larger portion of the money
of the places on which they are drawn, that the

Frani' ;he ON DO #V GAZETTE, June 23, 1 SO4.

{EXTRACT

WhiteLail, Juice 23, 1804.

The King- has been pleased to grant the dignity
of a Baronet of the United Kingdom of Great Bri-
tain and Ireland, to the folioiving Gentlemen, and
the respettive Heirs Male of their - Bcsdies lawfully
begawri, viz.. •
David Rae, of Eskgrove, in the County of Mid.
Lothian, Esq. one of the Judges of... His Majesty's
Court Of Session, as also Lord Justice Clerk of the
High Court of Justiciary, in teat part of the United
Kingdom caned Scotland ;
Sir William Clarke, of Crosses Green-House, in
the City of Cork, Knight, Colonel in the Army ;
Henry Harvey Aston Bruce, of Downhill, in the
County of Londonderry, Clerk, .Bachelor of Arts ;
John Lees, of Black Rock; in the County of Dub_

Esq.
Samuel O'Malley, of Rose Hill, in tile County
of M.yn
a , Esq.
William Myers, Esq. -Lieutenant.General of His
Majesty's Forces, Colonel of the Second West In-
dia-Regiment, and Commander of His Majesty's
Forces. in the Leeward Islands.

°Whitehall, tune 22, i 804.
The Ksng has been pteasetl to appoint Richard
Wharton, Esq. to he a Commissioner of Excise in
Scotland, in the room of Arthur Duff, Esq.

FROM MINUTES OF EVIDENCE

Taken before the Committee .appointed to inquire into the
State of I reland, as to its Circitlating Paper ; its Specie and
• Current Coin; and the Exchange between that part of the
United Kingdom and Great Britain.
The 'Right Hon. 1014 N F ST ER, • in the Chair.
(Cutinued from our Paper of &idy.)

(To be continue 4.)
SWP

PC OLE, JUNE 22,

Arrived—the Bro:hers, ranlbert, from Bristol ; Hope,
hlanelaws, and William and Mat y, Baynes, from Lymington ;
Aaive, Williams, from Portsmouth; Spilt, Holloway, from
Cowes.

Sailed—the Aaive' Spurrier, for Portsmouth ;, Friends
Regard, Mills, and Endeavour, Coulon, for Sunderland ;
Brothers, Abbott, for Colchester;' Gitcornbe, jordan,,.fOr
Dartmoutlib; and Mary, Gready, for SouthamptOn:.'

On Thursday evcoing, about nine o'clock, a
young man Of the name of Yateman, corning .1 rocs
the Kelds from Pezk!um to. the Kent road, was
IKocked down and robbed, by two fellows, of his
watch, and what money he had about him, to the
amount of six*billings; with which the villains gut
Altar off.

GRAVESEND, JUNE 22. • .
Passed by—the Catherine, Ferry Man, from Honduras ;
Thalia, Jones, and Guardian, Kitson, from Memel ; Ceres,
Calvert, from Riga ; Hutton,.Leyant, Dryden, Char-
lotte, Bennett, and Jane, Davidson, from Tormingen ; Confi-
dence, —, trout Gorhlatid; Pattioi', Stow; Hannibal,
Peace, Lawson, and Elizabeth, -Halt, from, Norway ; ling
Jan, from Lears Stadt ; Berlin, Chicken; and the Tutee
Gebroders, from Entbden.
-Sailed—the Ann, Norwell, for Jamaica ; Engheiton, Neil-
son, and V row Anna, Haldt, for Embdcn.

PRICE OP
SA.TUR

Bank Stock, shut
Navy 5 oei t en.. shut
5 per etv7-1•79., 93
Irish 5 per Cent. .
4 per. Ceht. 7Z
; per Cent. kett; s I
~e, et Con shut
*Excliquer Rills is. 3s. dis

AR/CW.S.
RDAY,
Bank Long Ann. t6l 5-16 7-16
Ditto Short Ann.
1•1-4tia Stock •
Omnium 4
I mperiai.3 per. Cet. $4 iJ
Ditto Ann. • • : -
Cons; for July, 56 a

LON DON : Pnnted (:H ;N WMII,LAN, (of Low- Street, Covent-Garden); and Published by ..1414 ARTAIGist Scit /pp*, (of South Nipito/,-street, Grosy,:n.,r—quare)i
At the. Su N.OFF ca, No. tiz, Strand; where xi,ivertrsemeNts, Orders for the Paper,--Letters for thc‘ Editor) ezc. (paii-l'aid), Inuit be rid:esseL,.