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THE CURRENCY QUESTION.

(P3B PHEBS ASSOCIATION)

London, November 6-; The Royal Commission appointed m September 1886, to enquire into and report upon recent changes m the relative values of precious metals and their effects upon the trade of India and the United Kingdom, presented a report to Parliament to-day. It strongly recommends that both gold and silver should continue the standard of money, and proposes free carriage for both metals at fixed rates. , London, November 7. - It appears the Currency Commission was not unanimous m its report, the ■ members being almost equally divided. ; The section led by Sir L. Mallet recommends that England should join America and Germany, which are partial bimetallic countries, and suggests that the best basis^ of the union would be the re-establishment of a pure bi-metallic system. The other section, of which Lord Herachel, chairman of the Commission is head, opposes Sir L, Mallet's proposal, on the ground that the risk is excessive. Lord Herschell and fivo other members embody their views m a separate report. They point out that the opinions of the Australian authorities on the formation of a bi- metallic union are unknown, and as large producers of gold, whose interests might be threatened, Australians might naturally object •to so serious a step as introducing a different system of coinage In England from that which prevails m her large colonies.

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Permanent link to this item

http://paperspast.natlib.govt.nz/newspapers/AG18881109.2.17

Bibliographic details

THE CURRENCY QUESTION., Ashburton Guardian, Volume VII, Issue 1992, 9 November 1888

Word Count
227

THE CURRENCY QUESTION. Ashburton Guardian, Volume VII, Issue 1992, 9 November 1888

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