60
character. for it is equally applicable to all payments into the chest, whether of the Crown Agents or Bills in all cases of Commissariat even on account or the Post Office, because purchased at the 4. there must be a similar risk though those Bills be issued at the lowest current rate of Exchange, suing that a still lower rate might afterwards rule. Therefore if the Commissariat takes from any party a consequence which tests the force of the Treasury argument- and may be viewed as "a reductio ad absurdum" but so long as such Bill transactions are admitted at all, and whilst I am at liberty to use the Commissariat chest for remitting money to the Crown Agents, the reason for making a distinction between the dollars exchanged in the one case and those in the other is not apparent.
Here dollars at a higher rate and afterwards issue them at that rate as suggested by My Lords there would unquestionably be a loss to Her Majesty's Treasury. There can however be no certain mode of avoiding that risk however small- except by ordering a total refraining of all Bill transactions on the part of the Commissariat. It would appear that My Lords only notice a distinction where there is none, because My Lords express surprise that I should have taken advantage of facilities for a definite purpose.
12. I can only repeat that I conceived then and still conceive that what I could