THE MONEY QUESTION.

Pahiatua Herald, Volume II, Issue 240, 14 December 1894, Page 2

THE MONEY QUESTION.

TO THO SUITOR.

Sir.—ln your report of me lecture on the financial system vou me that me answer to Mr Greville did not the matter clear which he referred to. As it !* des-.rsbl* that, in a question of this kind, erery difficulty should he made as explicit as poos-Me. permit use to explain it further \our report ears; •• Mr R. T Greville asked a question shout the tela 1 ~v* value of JO* worth of stiver and coma of the same value.' Owing to the demonetisation of silver 11a commercial value has fallen abort 50 per cent. If vou paj ‘ilia in silver into the Bank 11 is really only worth half us fare value measured in gold. Yet up 10 a pavmenl , of 4i>» a creditor it bound io a<v#pi it legal tender for hi* debt just as if the debt were paid in two sovereigns. Whai I the bi metallist* .ay is that, if j were resumed to it* former position in the 1 monetary system, and made a legal ; tender to anv amount, tho same a* cold us faee value would again become its real value for purpose* of exchange. Before the demonetisation of silver it maintained a steady ratio of value to cold cf 15 to 1. At present that ratio is <0 to 1. Bv a bi metallic currency tho value of silver would be restored to 15 to 1. instead of it* present value a* a depreciated monetary metal. Here let me pay a tribute to the 11*1, y I.n lor the eland it has taken on tnie question. .-'Hue of the article* on . me subject which 1 hove read in your columns arc amongst the best I have •ecu. I a lit, tie., WoodviUe. RAH ~“- December 13. Ifi-Jl.