The Sun.
London, England, 1804-06-05 00:00:00

WINTHROP, ESQ. CONTINUED.

When England has made large remittances to 11.6
Continent for subsidies, have not such reinittanctii
always pfnCted the exchange, and have they not tot:
a time overcome the effl•6l of the fivotirable-baidnce
tip trade., though orating in a-diErent diredion ?.
—I think always.
Did licit the eXtracirdinar3iiinnortation of grain
into England, during the scarcky of the 1799
an ie3cio;•.occ-asion a:great excess in the value of the
•
Elatql)urgh the exports froi
hence ?-15nifoul4dly,.. .

'DJ yottnot think that this extraordinary operatinh
on the usual cuiroot of trade between these twt)
places sufficient to account for the depression of tilt
which prevailed ddring that period?—in
a great meastue it undoubtedly (thl ; in ore of those
years illeeeywas another cause tvflithdepreciated the
ekchange ; .that was, remittances for subsidies.
Five vi .0 ever heard an estimate of the amount
'of the debt incurred by England for grain iinported
from the Continent during the scarcity ?—I have
heard it amounted to a very considrroble sum 4 it
has been said 15,006,000 J. but.-I du not know the
fad.

Supposing it to have amounted to 1540000001.
do you. think, had the reitridion of the B•nk of
E--gland been takco off, that that amount would
have been paid in s,,ecie ?---4 believe not.
.Is there any exchange between York and Lon-
d-on, or any part of England and London have
known an exchange from Scotland of about 3 or 4
per cent. I- do not know how it is now ; I speak,
of -30 years ago, in the time of the Ayr Bank. I
know of no restridion upon the issue of specie,
czps upon the Banrg.of England•and Ireland.
If there is no exchange.between any part of Eng.
land and London, and Ireland is now made a part of
the United Empire by the Union, what causes arc
there which are so peculiar to Ireland as to keep
up an exchange -between Ireland and London
Notwithstanding the Vnion, there is a great
tinaion of Country the. sea goes between them ;
• they have a different Treasury, a differenr Bank,
.and an'exchatte between
,-ithe countrjes has alWava
existed) tl.nAkgh tl •of •and iii er coin are the
name, the halfpence ditEr in the value of the pound
,
to the amount of 8 z-third per cent.

Do .you see any necessary causes for its differitig
from that g z-third per cent. —"Tie necessity of
Ireland remitting large sums to Etl2l4lld, is the cata;e
of.the rise of exchange.
Do you think the difF;rent Treasury,,and dijTerent
Bank which you have mentioned, could'he so ar-
ranged as not to afreet the exchange ?—I think not,
but that the exchange influenced by the
causes I'havc before mentioned.

- -
In your opinion, could the restriction on the B ink
of Ireland be removed while a similar restriEtion
continues on the Bank-of England ?—Not with safety
to the Bank of Ireland ; for, if the Bank of Ireland
was obliged to pay in specie, whilst no specie
could be had from the Bank of England, not only
Ireland would be supplied with gold, but tlic de-
mands from :11glanci would be sufficient to stop- the
Bank of Ireland in a very short time.

Suppose the exchange to. change in favour of Ire.
land, would that objedion continue ?—Not natu.
rally to supply the demand of Ireland ;' but if any.
body wanted gold, which might answer the pm-.
poses of exportation, as being of greater value
in weight than the coinage price, they might sup.
ply themtelves by demanding it from the Bank of
Ireland, as hint ;IS the Bank of reland had any left.
With respea to Ireland, probably if the Bank was
open, ;here would be• no more 11. and zl. notes in
currency ; but still all the large payments might be
made in paper as heretofore.
Supposing the balance of debt in favour of Ireland
by the exchange being under par, would there he
any demand for gold to be exported from Ireland;
or, in other words, must not that gold he paid for
by Grcat'Britain, if she. • takes it I—There would
be no demand for Great Britain to pay any baralic- e,
because none would be due ; hut if England wanted
aold for the purpose of exporting from England to
foreign countries, and that the price of gold in Eng.
la.nd was higher than the coinage price, I think the
Bank of Ireland would very soon feel a red&liOn in
its cash.

• .
WOuld not gold, in such case, be considered as a
commodity of trade exported by Ireland ; and would
it not be beneficial to Ireland, inasmuch as Ireland
would receive more_ than the Coinage price I—There
Might. be a small profit, but the.. Bank of Ireland
.would' soon be completely drained of it.
Do you think Ireland would. be completely
drained of it I—l think it is impossible to drain any
country of so much of its coin as is necessary to
carry on its traffic, unless by the establishment of
Banks, -and the issue of the p2per of such Banks,
made to answer as a sibstitute for coin.

Daes not the restridion of the Baiik of Ireland
tend to increase that paper, and put it-in the place.
of coin ?—By the substitution of paper for coin, I
conceive would tend to banish the coin. When you
lay a restriction on the Bank after the'coin of a
country has in a great measure disappeared (for Sc,
it would do by the substitution of Bank paper to
answer all the purposes of coin), and whether the.
Bank was in possession of a great quantity of coin
or not, it might appear uecessary tor the Bank to

hiAILS.

• nun.
Cottenburgh o
liatuburgh z -

ARRIVED.
- I

PRICE OF STOCKS,
THIS DAY AT T'A'F.LvL O'CLOCK.
Red. inn: - - sil I Omnium -

• 31

THE SUN.

*OLEM QUIS DICEKE FALSUM AUDLAT?

LONDON, J UNL s, 1894.

A Gottenburg Mail arrived this morning, by
which we have the following Intelligence:
GOTTENDURGH, MAY Z. 5 Russian Courier,
wish very important Dispatches for Count Wo?..ost-
zow in Lond,n, arrived from St. Petersburgh yes.
terday, and will take his passage in the Earl of
Leicester Packet with this day's Mail. He has been
delayed a short time on his journey by the breaking
up of the ice in the Gulf of Bothnia, as have
i-en the Russian Mails, one of which reached this
place to-day. The Courier relates, that the en.
.:ranee of the French into die Independent States in
search of Emigrants, and the murder of the Duke
_D'ENGHINN, have given great umbrage indeed at
11;e Court of Sr. Petersburgh, and that some strong
measures will be taken in consequence.
The Gun-boats destined for Stralsund, are fitting
out here with all expedition. They are formidable
'vessels, carrying each a two and forty pounder in
the bow, and another in the stern, •besides a.nurn. .•
her of swivels, and from 6o to too men,

Mr. ELswoRTH, the Messenger, also arrived
here yesterday from St. Petersburgh, with Dis.
patches from Sir J. B. WARREN, „and takes his pas_
sage in the Earl of Leicester Packet.
STOCKHOLM.—Coff of the Order for Court
Mourning.—On Saturday, igth May, His Royal
Majesty's Court is to go into mourning for eight
days, for the late Duke Louis HENRI D'ENCIIIEN.
Fringes are to be worn until the 24th, inclusively,
and afterwards jewels and blond.lace until the
26th, inclusively, when the Court is to go out of
mourning.

IT is with the utmost satisfaaion we can posi-
tively assure our Readers, that though His MAJESTY
did not attend the Drawing-Room yesterday, as
usual on the Anniversary of his Birth-day, there
was no reason on the ground of health to occasion
his absence. It was His MAJESTY'S anxious wish
to gratify his People by his presence, but the ex-
treme heat of the day, and the great crowd that
were expcted to attend, besides the fatigues neces-
sarily attendant on such a ceremony, rendered it
highly improper for him to expose himself to needless
exertions, after the severe indisposition which so deep-
ly interested the of Lions of the People. It must be
highly gratifying to the People to find that His MA.
J ESTI' restrained his feelings on this occasion, in
order to ,secure that health which has been so happily
restored, and which they must fervently wish that he
may long possess. lIER MAJ ESTY, and the rest of the
Royal Family, except the PRINCE of WALES and
Dux E OF CLAR ENC E, graced the Drawing room on
this interesting occasion, which altogether consti-
tuted a more brilliant and magnificent spefficle than
has appeared for many years.

Mr. PITT'S Motion r2speling the National De-
fence will certainly come on in the House of Com-
mons this day. The Bill will probably he brought in
to-night, and it is intended, we understand, to pro..
pose that the second reading should be on ,Friday.

A heavy firing was heard on Sunday evening on
the French Coast, which occasioned the whole of
our Squadron which was at anchor at Dungeness,
to get under' weigh. The firing proceeded from
the Batteries between Calais and Ambleteuse, and
soon after dark it ceased.

From the account given in the Dutch Papers, of
the Engagement between Sir SIDNEY SMITH'S
Squadron and their Flotilla, it appears that they have
suffered very ccnsiderably ; for though they only
acknowledge the :Oss of two vessels, yet they con-
fess that the loss of men and the damage done to
the Shipping was very great. We have very strong
reason to believe that the number of their men killed
and wounded exceeded 3e;o.

Yesterday tIIC PR INC E of WALES set off in his
post-coach and si,x, to Bushy Park, to dine with the
DUKE of CL AR ENC E. And this day his Royal
Highness was to attend Ascot Races.
Yesterday evening, according to annual custom,
two large Garrels of porter were given at the Admi-
ralty to the populi:ce, to drink His MAJESTY'S
health.

The loth Regiment of the City Volunteers, com-
manded by Colonel CoMaE, were ordered out yes-
terday to fire afeu-de-joie iii honour of the King's:,
Birth-day. They marched up to Islington, and went
through various manoeuvres with great steadiness;
they then partook of a breakfast provided at Canon_
bury House, and afterwards returned to their exer-
cise. Upon the firing, of the Tower guns, they
fired a feu.de joie. The Band then played " God
save the King," in. which the whole Regiment
joined in chorus, and after giving three cheers,
they marched back into the City.
The St. James's Loyal Volunteers, Colonel Lord
AM-least; the Loyal North Britons, Lieutenant
Colonel Lord RFAY, and. several other Volunteer
Corps, went yesterday to Hyde Park, to fire afeu-
de-joit, in honour of I-Its MA J ESTY'S
Birth_da y.--
Indeed almost every associated body, of men, in
arms for the Defence of the Country, celebrated the
day in the same 'banner, in various places round the
Metropolis, and, no d,!,tibr, in almost every part of
the Country.

The Halesworth Volunteers have received orders
to march to LowestoE to-morrow, to do the gar.
rison duty of that place for 16 days.

It is said that Sir, ALURED CLARKR is to com-
mand the Forces now equipping against the Cape
of Good Hope And Batavia, which are to be formed
into four Brigades, woo men each Brigade ; the
Men of War are to have a very full complement of
Marines, who are to ad on shore under Sir JoHti.
DOUGLAS.

On the Bth ult: the state prison in the neighbour-
hood of New York, was destroyed.hy fire, supposed
to haveA been done purposely by some of the pri-
soners, with a view of effeding their escape. It
was not ascertained, when thistaccount left America,
how many, of the culprits succeeded, but the great
body was 'secured, and the Militia called- out to
guard them.
The cargoes of the Sir Stephen Lushington, Earl
How. e, A /a2;ral Gardner, and Charlton; from Ben.
gal, arcs Iluddart from Bombay, comprised 73,000
pieces of muslin; roo,ooo pieces of calicoes, and
142,000 pieces of handkerchiefs, ; 2.33.4221 b.
of ; 0,082. cwt. of Saltpetre;' roo'cwt. of
sugar; 1 ,080 cwt. of Hemp; with a corisid6Pible
quantityoldrugs,