export trade; and it had a considerable effect upon their import trade; because while the rebellion continued, they knew not what to risk, whom to look up to with confidence, nor how they were to be assured of a return for what they continued to import. Their victualling exportation was stopped, and the export of corn, which they had been accustomed to carry on to the amount of 500,000l. a year, in consequence of the gene ral dearth for two years, the sad effects of which were felt in Ire land as well as in England, was put an end to altogether; and the island was obliged to supply itself from other countries, and thus to send their gold out of the country to purchase it, which of course contributed to raise the price of the exchange. Another material 'cause of the rise of the rate of exchange was, that a great part of the debt of Ireland, which had increased to 40,000,000l., was borrowed in England, and the interest of the sum borrowed in England amounted to above 900,000l., which was obliged to be sent over in gold.

The noble earl adduced many other reasons to account for the increase of the rate of exchange; among which we shall notice the following one only-The linen manufacture, which had enriched the north, and was the favourite and greatest export of Ireland, had, whether from motives of avarice or cupidity he could not undertake to pronounce, been considerably raised in its price, which had produced an injurious effect, as the Americans, who had formerly been great importers of Irish linens, had left off purchasing them on account of their dearness, and had shut their mar

ket upon the Irish manufacturers, thinking it better worth their while, from its comparative cheapness, to supply themselves with linen of every sort from Germany and Russia.

With respect to the union, his lordship could declare, on the au thority of a person of high authority, a right honourable friend of his (Isaac Corry, esq.), at the head of the finance of Ireland, that her debt was already reduced, and would in a few years, in all probability, be considerably dimi nished.

His lordship added and inter'spersed many other cogent arguments to prove that the bill ought to pass, as it was of great import ance to the interests of the bank of Ireland, and consequently to the general interests of the British empire.

Lord Auckland remarked, that previous to the passing of the bill for the restriction on the bank of England from paying in specie, a committee had been appointed to ascertain the amount of its assets. He wished the same mea sure had been adopted with regard to the bank of Ireland. Again, there was one point in his noble friend's speech which he must take the liberty of setting him right in. His noble friend had admitted that the paper of the bank of Ireland had undergone a depreciation. This was not correctly the fact. The notes of the bank of Ireland, literally considered, had undergone no depreciation in Ireland. That paper had, indeed, undergone a depreciation in respect to payments made out of Ireland, which could only be made in gold.

His lordship finally pronounced the bill before the house a necessary and

and useful bill.—After a few more words from the lords Limerick and King, and the marquis of Sligo, the question being put, the bill was read a second time.

In the committee on the bill, on the 5th of May, the clause proposed by lord King, to authorise the creditors of the governors and company of the bank of Ireland to compel by legal process that corporation to pay them the amount of their demands in bank of England notes, was rejected.

Lord King then moved another clause, by way of proviso, to compel the directors of the bank of Ireland to publish a monthly return of the issue of their notes in the Dublin Gazette, which he considered as the most effectual check upon an inordinate issue and circulation of the notes of the Bank of Ireland; which motion was also rejected, and the bill gone through and reported without amendments. Next day, it was read a third time, and passed. To comprise in one chapter this general view of financial affairs, we have thought it not improper to conclude by adding the two East-India budgets for the

year.

point of view; but as his wish could not be gratified in that satis factory way in which he should have felt it his duty to have submitted the subject to the committee, he should therefore confine himself to a statement of all the material facts that could be accurately brought forward. In the details which he was about to give for the information of parliament, gentlemen would perceive that they were all arranged under separate and distinct heads, so as to convey a knowledge of the company's affairs, both abroad and at home, which, resting on authentic grounds, could not excite the smallest doubt. The exact state of the different presidencies would be successively alluded to, and the house would, he was convinced, learn with pleasure the prosperous state of the company's revenue, which was not only adequate to every actual call and occasion, but held out the most flattering hope of the liquidation of the debt incurred by the company. It was his intention to follow the plan usually adopted upon the occasion, with respect to the order in which the revenue's charges, the general view of the results, and the provisions made for the debts of the different settlements, have been brought forward; and in observing that line of conduct, he should not detain the committee for any length of time. It had been customary to present the amount of the revenues and charges under three heads, for the three last years; and, after giving a distinct view of each, to form an average of the excess or diminution. This average resulted from the actual produce of each year, compared with the estimate for the preceding year. He did not intend to trou G 4 ble

ble the committee with minute and specific statements of revenue and expenditure, but to mention, in their respective order, the total of the different sums.

The first presidency which called for notice was that of Bengal, and there the average of revenue from 1798-9, to April 1800-1, amounted to 6,436,8074, which was more than the average last drawn by the sum of 289,7761. The estimate of the revenues for 1800-1 was less than the actual amount by 319,000/., as the former was 6,339,000l., and the latter gave a total of 6,658,000l. Thus it was evident that the actual produce under 1801 showed an increase much more considerable than was expected. With respect to the charges, he had to observe, that they exceeded in their actual amount, for the same period, the estimated sum by -358,000l., the actual amount being 4,780,6117.; and the estimate be-ing no more than 4,422,047. The cause of this excess was easily accounted for. Gentlemen would

find, by referring to the exertions made in the presidency for the expedition to Egypt, the most satisfactory grounds for this difference. The expenses incurred by the expedition necessarily occasioned the actual amount of the charges to exceed the estimate. And here he begged leave to remark that these exertions were not confined to Bengal alone, but that the settlements on the coast of Bombay also took part in them. In consequence of the expenditure thus incurred, the net revenue for 1800-1 was less by 39,4331. than the sum which had been estimated. But in 1801-2 the net revenue was 2,468,000l., and in the product of the net revenue, estimated for the year 1801-2, he had the satisfaction to find in the whole result an improvement .of no less than 590,000l. more than the preceding year. What he had remarked upon this subject, as connected with the presidency of Bengal, would be evident from the following abs

tract: