At this establishment it continued until the spring of 1788; when King George III., having resolved to form the two troops of Life Guards and two troops of Horse Grenadier Guards into two regiments of Life Guards on a similar establishment to that of the old regiments of horse, and to reduce the four regiments of horse on the Irish establishment to the pay of dragoons, with the title of DRAGOON GUARDS, His Majesty's pleasure was communicated to the regiments in Ireland, in a General Order dated the 14th of February, 1788; and the SECOND IRISH HORSE was thus constituted the FIFTH DRAGOON GUARDS. In consequence of the regiment being placed upon a decreased rate of pay, compensation was given to the officers; to the colonel 150_l._ per year; to the lieutenant-colonel a gratuity of 575_l._; to the major 525_l._; captains, each, 475_l._; captain-lieutenant and lieutenants, each, 350_l._; and the cornets, each, 250_l._ Every private man had the option of his discharge, or a bounty of two guineas if he continued to serve. Several alterations were made in the uniform of the regiment. The officers were directed to wear an epaulette on each shoulder. The flask-string was removed from the pouch belt, and the width of the belts reduced from four inches and a half to three inches; and the equipment was assimilated, in every particular, to that of the regiments of dragoons. The establishment was fixed at one colonel and captain, one lieutenant-colonel and captain, one major and captain, three captains, six lieutenants, six cornets, one chaplain, one adjutant, one surgeon, six troop quarter-masters, six serjeants, twelve corporals, six trumpeters, one hundred and fourteen private men, and six dismounted men. The several alterations having been completed, the change of establishment took place on the 1st of April, 1788, and from this date the regiment has borne the title of FIFTH DRAGOON GUARDS; but the appellation of GREEN HORSE has never been entirely discontinued. [Sidenote: 1789] [Sidenote: 1790] In the following year, the regiment lost its colonel, General the Honourable John Fitz-William, who was succeeded on the 27th of August, 1789, by Lieutenant-General John Douglas, from the Fourteenth Foot. Lieutenant-General Douglas died on the 10th of November, 1790, and was succeeded by Major-General Thomas Bland, from the Lieutenant-Colonelcy of the Seventh Dragoons. [Sidenote: 1793]