ENGLISH AGRICULTTRAL COMMISSION.

Auckland Star, Volume XXVIII, Issue 228, 1 October 1897, Page 5

ENGLISH AGRICULTTRAL COMMISSION.

REPORT ON THE EXISTING DE^ * PPvESSION. 1

The Royal Commission on Agricul-< ture in .England has issued a report suggesting- various palliatives for the existing- depression in agriculture, which the Commission utttritrates mainly to the general and persistent fall of prices and to foreign competac tion, which is not likely to abate.

The Commissioners are very nrncft divided in opinion with reference to a remedy for falling prices. Ten. of them,including Hon. Henry Champlrn, President of the Local Government Board, and Hon. Walter Hume Long, Conservative member for West Derby, sign a supplementary report declaring their belief that measures tending to increase the value of silver would greatly assist agriculture, but no recommendation on this subject is signed by the Commission as a whole.

The supplementary report expresses the opinion that depression prevails alike iv protective and free trade countries, mid is especially severe in the United States; that heavy protective duties when imposed in Germany and France failed to give either country security against depression, and suggests that the reason for \itq" versal depi'ession may be found in th*s great monetary changes made in; Europe and the United States in.lS33 and 1874.

Since the only countries which appear to be free from such depression: are India and Argentina, the formers of the supplementary report contend that a prima facie case is established for the assertion that the depressionis the outcome of the relative appreciation of gold and of the divergence in the value of metals, which they allege gives an artificial advantage of lower wages to producers in silverusing countries.

While not suggesting the abandoifment of the gold standard.the signers of the supplementary report propose an international conference to arrange for the re-opening of mints abroad and in India and the restoration of silver either wholly or; partially to the position it occupied, prior. to *1573. ■ ': .■:.

In conclusion the supplementary; report invites the Government to give effect to the resolutions adopted by Parliament in February, 1595, in favour of such aconference.