The Sun.
London, England, 1817-03-06 00:00:00

Ire t'ltat A enrrespondikice bail (alien
place between the Exchequer and Country Magis:
(rates, to regulate the manner iii WhiCh the old
silver vas to be thaneed fot site new, Rnd that the
regulati6ti thits laid down 'had not been propoly
attended to. With respect. to the coinage
ititelf, (tiring!' he did justice to the celerity with
which it had been executed, he could not help
doubting tin tarinnite success of the measure. • It
was issued at a nominal value of five shillings and
sixpetwe an ounce, whilst that of the Bank tokens
Wtts six shillings and eightpence. This great dif-
ference could not fail to Troth.ce a pernicious ef-
fect ; fOr it was natural (hitt 'the higher currency
should •drive the other out of circulation. It
might be said, that persons ivould rattier melt
down oneoined Mirth was: only ss. or
ss. 1.1. an ounce, than coined silver of the value
.of ss. Gd. This was certainly some pintection
to the new coinage ; but still be doubted the
wisdom and safety of .undertaking so great
an operation, while the general circulation
of the country was in its present state, What
security was there that the market ;price of
SII% Cr would nut rise above ss. 6d. A few years
since, had it not reached the high price of 7s,
'dunce Much less than that would endanger the
existence of the new coinage. One-penny or,t wo-
pence above is. Gil. might drive it out of vitt:illa-
tion. It had been the opinion of an indkidual,
to %chola be did not look up will) so notch respect
as to the Hight Iltinourable Master of the Mint,
because lie had not oreopicd such elevated official
situations----he meant only :Is'lac New ton—
Langhter)----that threepeure in a goinea endanger-
ed the cirettltttiou. But if, instead of threepence,
the difference rose to one nod sixpence ,iii five shil-
lings, or six shillings in a guinea, the new coin-
age could not certain ly remain in circulation.--
This danger would continue to exist aS long as the
Hank would hast.e pawn by a single stroke of the pen
to,eaNe the price of silver to the same height which
tt
,had formerly attained. Ile 'did not wish the new
coinage to be drawn in, but he wished the flimsy
not to lose sight pt this, that it was necessary
to take the earliest,opportonity of withdrawing the
commit] which it exercised over the Bank, and
allowing that establishment to pay its promissory
notes in cash. Front the moment that the ',tank
wool(' pay on demand, it would be impossible that
the price of gold
,and silver should rise too high.
the shotiltl now ask of the Right llou.Gentlemito
a quest bin respecting the chic of the New Coinage.
There was a great defect on the head Side, espe-
cially in the half c-ou us. II is Nliiiesty's likeness,
and: the whole of that side, there exceedingly bad.
To make up for this, he understood 111.,11' an addi-
tion had been made on the reverse, which magni-
fying powers, or eyes younger than his Own, could
descry. This addition consisted of the litters
W. W. P.---(Laughter -wished fo know
Whether. the were any precedent for this If so,
it miqht be laudable and proper. Cardinal Wolsey
had been impeached for putting a Cardinal's hat
on the money coined. in his time. Ile thl not
wish the Howse to go so far—.(Langliter)—with
the Bight lion. •Gentleman, but he 'hoped he
would
.be able to brit% a precedent in his justifi-
cation.

Alf. W. PoLF. WAS ready to give the, Lcftrned
Pewit: Mall every satiNfaction ii► power. With
respect to tl►e correspontieocc, for a copy of %%Wel►
the 'notion ws►e intentlcti, this %vas the first time

lint lie bad ',card of such a correspondence.
•

kites s had been writ ten of the kind alluded to.
.Secret instructions hail certainly been given to the
011iteri of the Mint, respecting the exchange of
the Old Coin for the New, and no copy of these
instructions could have been obtained but by a
breach of trust. They were intended for the
protection of the subject, and they had been act-
ed upon in a Manner which had gisen the
greatest satisfaction in c‘ery part of the Country.
-7-(Hear, hear, bear !)—Tbese instructions he
should Certainly object to making public. As to
the sarcasms and taunts which the Honourable
and Learned Gentleman bad showered upon him,
without any provocation, let the country decide
Whether they were just. The Hon. Member had
talked about the principle of the. measure, and
its possible consequences, Ism why had he not

one s'n when the Bill was hernre the House

Elad he forgotten that the New Coinage had
been executed under the authority of an. Act of
Parliament, and slot under that of any particular
Dephttment of the State. lie should not go again
over the grounds on which, the measure had been
fotinded, and carried with an unanimity almobt in-
credible. Ile bhould Only say, that ai long as
the balance of trade was in our favonr, there could

be no dangerous rise in the price of Silver. As
to the issues of the Bank; the House would be
glad to hear that the Mint had now gold in its
hand, sent by the Bank to be coined, for the pur-
pose of meeting the payment 01 Us notes in cash.
(blear, hear !)—The Bank also intended to rccal
its Silver Tokens, for it had never been intended

to keep them in circulation,' and to keep two cur-
rencies. HI once, tie should think it unfair, were
he to pit down without doing jobtice to the body
of the Bankers of London and Westminster, head.

ed.by the limtk, and assisted by every respectable
ilanking7house thrmighout England; It would
have been impossible with Out such aSSiAta9Ce, to
Tarty, the measore into effect. They had employ-
ed their confidential cletks, given their'time and
trouble, anti induced their corteSpoodents.t-o du
the same, and all this gratis, In Scotland,
the whole exchange had been managed also
gratis by the Bank of Scotland, which had
OPPoloted sixty-two stations for that pur-
rise. This general disposition to facilitate
the execution of the Meastire, proved that it was
considered highly beneficial to the people at large.
He re inked to have had an opportunity of ex-
pressing his most gratvfol ackuoii ledgeoleots to
all those by Whom he had been so actively, so
effectually, and so liberally Supported; 'AVM) re-
spect to the coin itself, tro expellee or trouble had
been spared to proetire the best artists. He would
own, however, that the head on the half-crowns
had disapr °inlet! Win. The other pieces, all bough
he wished they were still butter, were considered
superior to any that had yet been struck in this
conntry. It would be satisfactory for the ,Hon.
Gentleman to learn that another bead was in pro-
gress. It had been shown to persons whose taste
was certainly as good as, that of, the Learned
Member, bud they thought it would be the finest