The Sun.
London, England, 1810-08-24 00:00:00

1 7- in
, 1 4 iii
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S 1J r*

FRIDI AUGTST 24, 1810.

AROMATIC SPIRIT OF VINEGAR,

(The Original Invention of Mr. Henry, and brought by his
successive Improvements to. the highest perfedion) conti-
nues to he prepared and sold, by Messrs. HhNlt Y, Che--
. mists, Manchester. .
THIS agreeable PERFUMED LIQUO.R, w hich is
I composed of highly concentrated Vinegar, joined with
the most pleasant Aromatics and efficacious Antiseptics,
may be kept unimpaired in any climate and for anOength of
time. Its pungent Odour adapts it for affording relief
in Head-aches, &c.Faintings, ; and renders it peculiarly
grateful and refreshing
in crowded rooms, in places of public
resort, and in the apartments of the sick._ 'lt counteract o, al-
so, the infelion of Contagious Diseases.
As many spuridus and interior imitations are sold under
tl same 'and similar names, the public are requested to ob-
serve, as the only prootot its being genuine that the names of
Mcssrs..H'ENßY, Mandiester, are engraved on the Sta-., p.
The
.AROMATIC.SPIRt l' of VINEGAR, in bottles,
price as, Od eac;"(Stamp included) is sold wholesale and retail
by BAYLEY anti 13 L Cockspur.street, the only Agents
r London authorised by the I.)roprietors where May .be
had, Sponge Boxes of Gold, Silver,.Co,tielian, Chrystal4cc.
'so, HEN KY's CALCINED MAGNESIA, in bottles
at as. Ott. and larger with glass stoppers, at 4s. each, their
names being on the stamps.

Dr. F()T1-1-ERG I L'S -FEMALE PILLS,
For the the Prevention and Cuie of the Diseases pecul:ar to the
Sex.

MHAT'a greater shore of the infirmities• k

ted•tothe Female, more thau,theotner sex, we have
the aHthority,of Scripture to confirm, ..ncc the numerous
disor,ker4 which affect- women, and•subject them to pain and
sulttring at every period of lite. But though this is the case,
'the same hand which has imposed the burthen, has also at.
forded the means of relief. He has p ovided the plants with
healing virtues, which, under the guidance of science, shoulo.
restore health, soothepain, and prove an antidote to the evil,
Or, Fothergil's Female Pill is 4 wonderful Compositi.ln of
this kind. It allays nervous irritation, calms the rapid tu-
mult of the blood, gives to the pelkurbed spirits their regular
course and circulatum, and restores the .relaxed hon.: to its
proper tone, and settles (it: the cheek the mantling hue of
health, beauty, and purity
Against all the irregularities of the sex it is-a never.tail-
ing restorative; .as, in Green Sickness and Obstructions: in
Nervous disorders, as Hysteric, , Spasms, Palsy ; in diseases
from a relaxed fibre, as after childbed ; Dropsy, and even
during the pregnant state. It should be kepi, by every te-
rn*, as a proper domestic medicine, which shecan, at all
times, resort to in an attack of any
Sold wliole,ale and retail at Mr. Butler's, 4, Cheapside,
corner of Paternoster.row • Bacon, isa, and len, 76, (ix.
ford--street ; Clark,- 269, arough; Tort, ko)al E.xehange ;'
and most Country Medicine Venders, in Boxes, at zs.
each.

Of whom may be had. Dr. Fothergil's Nervous Cordial
Drops, so justly recommended for the cure of all Neryou
Complaints, in Bottles, price 45. 6d. and zzs. each.

REPORT;

TOCETHER WIT} .MINUTES OF EVIDF.KCE, AND AC•
• y
COUNTS FROM THE SELECT COMMITTEE ON /HE
SIGH PRICE GOLD BULLION..

[Continued from Yei terd4y.]

. Your ComMittee must next refer to the confir-
maion and sanction which all their rzasonings re-
ceire from the labours of the Committee of this
Haase, which was appointed in a former Mita=
. meat to examine into the causes of the, great de-
,preciation of. the Irish Exchange .withrEogland in
1804. Most of the Mercantile persons who gave
evdence before that'Committee, including two Di-
rectors of the Bank of Ireland, were unwilling to
admit that the fall of the Exchange was in any de-
gre to be ascribed to an excess of the_ paic.et: cur- •
.rency
.arising out of the restriction of- 1797-; the
whOle tall in that case, as in the present, was refer,•
reef tw•an unliVOurable balance of trade or 'of pay-
ments;-and it was-tviso then affirmed. that ,v,,aes.
issued only in proportion. to, .the demand, u) ex-•
change for good and convertible securities payable
at specific period's, could not tend to any excess in
the circulation, or to any depreciation." This doe-
!rule, though moreor• less 'qualified by some of the
witnesses, 'pervades niost of the evidence given be-
fore
that Committee, ith the rem trkaole excep-
lion of Mr. Mansfield; n, hose knowledge. of the
effeas of that over issue of Scotch paper,. which.
has just been Mentioned, led him to deliver a more
just opinion on the .subjeCt. Many of the Witnesses,
before the Committee; however..unwiling to ac-
knowledge the real nature of the evit, made import-
ant concessions, which necessarily invoked them
io inconsistency, They •could not as praCtical men
controvert, the truth at ,the keneral position, that
" the fluctuations of exchange between two coun-
tries are generally limited by the. price-at -which any
girvn quantity of bullion can be purchased in the
circulating-medium of. the debtor country, and c0n....
verted into the circulating medium of the creditor
country, together With the insurances and charges
of transporting it from the one to '411.3 other." It
was at the same time, admitted, that the expence
of transporting gold froM _England to Ireland, in-
cliading insurance,' was then uotkr one per rent.;
. that before the restOion, 'the ThEtuations hadrieter
long and much exceeded this ; and, .more=
over, that the • exchange with Belfast, where gui-
neas freely circulated at the time of the investiga-
tion by that Committee, wAs then lI in favour of
Ireland, ,while the- exchange -with Dublin; where
only paper was in use, was per cent.
.agaiest
that country. It also appear•ed from such imperfect
documents as it was-pradicahle to furnish, -that the
balance. of trade was then favourable to Ireland.
Still; ltowever, it was contended, that there was
no depreciation of paper, that there was a
scarcity and, consequent high price of gold, and
that the dimintition of Iriph paper, wsaild not rectify
the eichange. • " 'The,,deprecieron of Bank paper
in Irelend (it-was said by one of the witnesses, as
Director of the Bank of Ireland) is entirely a rela-
tive term with, resped to the man who buys .and
sells in Dublin by that common medium.; to him it
is not depreciated at all; but to the purchaser of a
Bill on_London, to him in that relation, and under
that circumstance, there is a depreciation of 10 per
(TUC' By thus avoiding all comparison with a view
to the point in issue., between the value of their own
paperan'd that of either the then .cirCulating me-
dia-it of this couevy or of gold bullion, or even'
of 4.41 coin then passing at a premium in other
;nets of Ireland, they appear to have retained a
Confident•opioion,
,that no depreciatiOn of Irish pa-
per•had Taken
• is further obsA.vable, that the value of a con.
siderabie qt!iaotity of dollars put into circulation, by
the 'Bank of Ireland at this petiOdi wls raised to
SS: a dollar, for the professed purpose of rendering
the new silver coin conformable to the existing state
of the exchange, a- circumstance on which the
.Committee animadverted in their Report, and which
'perves to shew that the Irish paper currency .could
not stand a comparison with the standard price of
silver, any more than with th it of gold bullion,
with gold in' coin, or .with.theahen paper currency
of dui kingdom. • •
A fliCt mentioned to -that Committee, on the,
evidence of Mr. Colv;lie, a DireCtor of the Bank of
Ireland, which, though it carried no
,conviCtion to
his mind of the tender cy of a limitation of paper to
lower exchanges, seems very decisive on this point.
Elestated, that in t 753 and 1754, the Dalin Ex-
change being rematkably unfaVourahle, and the
notes of the Dublin Bank being suddenly with-
drawn, the exchange became singularly favourable:
The mercantile distress produced on that occasion
was great, through the soddenness of the opera-
tion, for, it was efle&eknOt by the grad‘,al and pru-
dential tnotiores of the several Banks, but thrciugh
the violent ptessnre which theirunguaided issues had
brought upon them. Tie general re,bll, however,
is riot the less observable. .

With a view to the further elucidation of the sub-
jea of the Irish Exchanges, which so lately attracted
the attention of Parliament, it may be proper to le-
mark, that Ireland has no dealings in Exchange with
foreign countries, except through London and that
the payments from Ireland to the 'Continent. are
consequently converted into English currency, and
then into the currency of the ;countries to which Ire-
land is indebted. In the spring of 1804, the Ex-
change of England with the Continent was above
par, and the Exchange of Ireland was in such a state
that 1181. 10s. Of the notes of the Bank of Ireland
would purchase'only 1001. of those of the Bank of
England. Therefore, if the notes of the Bank of
Ireland were not depreciated, d9d it was so main-
tained, it followed that the notes of the Bank of

[PRICE SIXPENCE HALrPENNY.

. .„

England were at more than
.10 per cent. premium
?Love the standard coin of the two countries.

The orineiples laid doWn by the Committee of
1804. had probably some Weight with the Dire. tors
of, the Bank of Ireland ; for between the period of
their Report (June 1804) and January tButi,.. the
circulation of the notes of the Bank of Ireland was
gradually-{thoughAvith small occasional fluctuations)
reduced from aboUt three millions to 3,4100:)01.
being a.dirnintition of nearly. I:6th at the same
time, all the currency which had been issued under
. the name of silver tokeiff" was by law.suppittaitsed,
The paper currency, both of one Bank of England,
and 01 the English country banks, seems during
the same period to have gradually, tncreased. Thd
combir,t ion of these two causes is likely to Invo
had alnaterial'eftett in restoring to, par the It iO.l
Exchange with England.
The Bank of Ireland has again gradually,enlarged
its issues to about 3,100,0001. being somewhat
higher than they stood in 1.804, an increase proba.
bly not disproportionate to tifiti which
,has occurred
in England within the same period.
.Perhaps, how-
ever, it ought not to be.assumed, that the dmilitu.
tion of issues of the Bank of. Ireland between tso
and. 1866, would prodtice a.corresponding reduction'
in theissues of pi ivate Batiks of Ireland; exactly in
'the same manner in whicit a diniinittion of Bank of
England paper produces thit effect on the cJuntty
B.mks in Great Britain'; • because the Rank ~f Ire-
land does not possess the same exclusive Power of

supplying ally pat•t uf that country wit h- aPa ercur..
rency, which the Bank of England enjoys in rc's
peCt to the metropolisof the Empire. The Bank
of England, by restricting the- quaniii y of this tie-
c...-ssary article in that important quarter, can more
etrectnally secure the inni.rovement of its value and
every such improvement must necessarily lead, by a
corresponding-diminution in amount; to a similar
augmentation of the value of. country- Bank paper
exchangeable for it. That the saute diminu• i )n, of
the circulation of private Banks took place in Ireland
is more than probable, for the private Banks in Ireland
are.aacustoined to give 8.3.1tk of Irel.ind p.ipr fur
their Own circuDating.notes when required to dd so,'
and therefore could not but feel tne effel of any.
new limitation of that paper An-, tit inch ti.eir own
was exchangeable.
". It due, how ever, in justice to the present Di reetors
of the Bank of England, to remind the House, that
the sispension of their cash payments,. though it
appears in some degree to have u,igiii.ited in a mis-
taken view taken 'by the Bank of the peculiar-diffi-
culties of that time, was not a tu,:astare sought tot
by,the Bank, but imposed upon --it by the Legisla-
ture for what were held to lee urgent reasons of
State poliCy and public expediency. And it ought
not to be urged as master of charge against the Di-
rectors, if -in this novel situation in which their
company was placed by the law, and entrusted with
the regulation and controul of the whole circulating
medium of the country, they were not fully aware
of die principles' by which so delicate a trust ,should
-be executed, but continued to conduct tneir busi•
ness of oiscowits and advanCes, according to theix
'former routine. •

• It is important, at the same time, to observe, that
under the former system; *heti the Bank . was
bound, to answer its notes in .specie upon demand,
the stale of the foreign exchanges and tne price' of
gold did most materially influence its conduct in the
issue ot. those, notes, though. it was not the practice
of the.Drectors systematically to 'watch either. tile
one or the other.. So long as gold. wits demandaule
for their paper, they were speedily apprized of a de.
pres,ion of the ex, hange, and,a rise in the price of
gold, by a run upon akin for that artEcle. If at any
tuner they incautiously exceeded the' proper limit of
their advance, aid issues, the paper wa, quickly
brought ba. k to them by those who were tempted
to profit by the market price Of gold or by the rwe
of exchange...' In this manner the evil soon cured
The Direclors'ot 6.e Bank having their ap-
prehensions excited by the reductiOn of sioik
of gold, and being able to replace their losS only by
reiterated purchases ofoullion at a very 'losing price,
naturally contracted their issues of paper, and thus
gave to the remaining paper as well as to the coin fir
which it. was intercnange4laJe, an increasedvaltic,
While the clandestine exportation either of the e,irt,
or the gold produced from it, combined in i:upro3i-
ing the state of the exchange, and 'in producing.- a
corresponding diminution' of the difference between
the•market price and Mint price of gold, or of paper
convertible into gold. , •

Your Committee do not mean to represent that
the manner, in which 'thii'etfed resulted from. the
conduEt which they have desciibei was chstinotty
perceived by the Bank Directors. the fdd of limit-
ing their paper as often as they experienced any
gre;it drain of gold, is, however, unquestionable.—
Mr. Bosanquet stated iu his evidence betbre the Sc-

cret Committee of the .1-lotise of, Lords, in the,
year 1797, that in 1783, when the Batik exi:e-
:ienced a drain of, cash which alarmed them, the ,
Directors. took a bold step, and refused to make the
advances on the loan of that year. This, he sAid, an-
swered the purpose of making a temporary suspet,
sion in the amount of the drain of their sptcie. And
all the three Directors whO 'had been examined bc-
fore your Committee, represent some restriCtion of
the Bank issues as having usually taken place at .
those periods antecedent to the suspension of the cash
paytilelllS of the Bank, when they 'experienced any
material run. A very urgent tftlrianct for guineas,
though arising not from tne_high'price of gold and
the state of the exchange, but from a fear tif inia- •
sion, occurred in 1793, , and also in 1797, and in
each of these periods the Bank restrained their. dis•
counts, and consequently also.the amount of their
notes, very much -below the demand of the Mer-
chants. Youi Committee question the policy of