THE Thames Advertiser Favour to none; fear of none; justice to all THURSDAY JUNE 27, 1895. THE CURRENCY QUESTION.

Thames Advertiser, Volume XXVII, Issue 8160, 27 June 1895, Page 2

THE Thames Advertiser Favour to none; fear of none; justice to all THURSDAY JUNE 27, 1895. THE CURRENCY QUESTION.

Some time ago we bad a controversy in our columns on the vexed question of[Bi-nietallism, between two doughty foemen. The case for each side was stated as well as we have seen it in any of tho leading home journals whero the war is still being actively waged betwoen hosts of able opponents on each side, We intended making an effort to sum up the result of Qur local controversy, but wo have not yet been able to rise to the height of tho occasion. There has been so much good reasoning on each side that one is almost in a continual state of being inclined to agree with the last writer, Still on tho whole wo think the balance of logic and facts is on the side of the monometallism. Wo hardly go so far as Mr Labouchoro who said lately something to tho qflect that the bi-metal-list had cither a weak spot in his head or owned a silver raino. Tho opigram is rather rough on the bi-nwtallists, but like all the sayings of tho brilliant editor of Truth it gives in a few words a shot at tho solution of the matter which is not very far from the mark. Sir Samuel Griffith, the Chief Justice of Queensland, has boon putting in his oar in tho sea of contradictions. As the learned judge seoms to have grasped tho situation as clearly as anyono whose views wo have come across lately. and as his sentiments are on tho lines which we should have adopted ourselves if wo had been ' minded to make some attempt at summing up this crucial subject, we gladly transfer to our columns the following articlo from the Australian Mining Standard : — "The Chief Justice of Queensland has had a tilt with the currency question, and a perusal of his lucid address delivered a few weeks hack fairly determines the fact that Sir Samuel (iriflith is not a bi-metallist. He admits, however, that the appreciation ' of gold has been followed by iroit serious 1 and alarming consequences. The man who f ten yen is buck contracted to pay £20,000 finds that the products on which he reck- l oned to liquidate the debt, when reckoned in gold, are only equal to £10,000. ' The measure by which he measured his liability has suddenly been expanded. The first measure which he undertook to till now holds ■a quart. What then is he to do?' To this riddle the Queensland Chief Justice, like everybody who has faced it, returns no satisfactory unswsr. All lie can say is that the i fact's deserve the closest scrutiny so that the • ciuse limy bo(!i.scovcrcd. His own research ■ satisfies him that while the cessation of uu- ; limited coinage has undoubtedly depreciated ' the valuj of silver, it is not so obvious that r I the same factor has worked for the fall that °

lias taken place in commodities generally. This comes about because now 'all the world is practically all market,' universal competition and cheap ocean transit having reduced the price of every article to the level of the place where it is produced most cheaply and in sufficient quantities. Here the learned gentleman has evidently struck in immovable fact. And if this be taken as i landmark, there is hope that wanderers may ultimately find their way through the mazes of bi-nictallism. By far the most forceful and valuable portion of Sir Samuel c Girilh'ths' address is that in which he demon- i itrates the absoluteimpotency of law or international agreement togivesilvera fixed ratio of gold. The legislator may decree that 20oz af silver shall be the exchange for lozof gold, but if there should be on the planet a silver mine whose owners will give 30oz of silver for loz of. gold, then the world 'would l I'.gree with the fact and not with the law.' ( Which is simply a restatement of the old truth that where human law conflicts with natural law, the former goes under. The 1 conclusion Sir Samuel Griffiths arrives at is 1 that little, and at most only a temporary, I effect could be hoped for from any attemptto fix by law the relative values of silver and gold. ' Their relative value depends,' he adds, 'not upon the will of any lawgiver or any number of lawgivers, but upon the quantity of other things which the people of the world are willing to give in exchange for a given quantity of gold or silver, if, for instance, the result of investigation should be to show that the cost of production of gold has doubled, so that while it required three days' work to obtain from the earth the quantity of gold contained in a sovereign, it now takes six days' work to obtain the same quantity, it is obvious that no law could alter that fact, or evade the necessary consequence that a day's work measured in gold is worth only 3s 4d instead of Cs Bd, although its value as compared with everything else may practically be the same." . Yesterday morning the schooner Gisbourne sailed down the river en. route fov Timaru with a cargo of white pino timber shipped at Bagnall's mill, Turua. Since the little folks' treat in connection with Mr Ncill's Unsectarian Sunday School proved such a success twelve months ago, the teachers have decided to make lb an annual affair. Another " little folks' treat'' is in preparation, which will take place in St. George's Hall on Tuesday, July 9th, For particulars see further issue, It is rather singular that Mr George Cruikshank the last; of the well known Auckland family of Cruikshank should be taken away as suddenly as was his brother, Mr D. B. Cruikshank, a short time ago. Mr Geo.'Cruikshank until a few months since was partner in the firm of Cruikshink and Miller, the well-known Queen St. ironmongers. He gave up business and settled down on his country farm, but has not lived long to enjoy the rural life, which he had been looking forward to for many years. In another column Mr S. Hetlicrington notifies that his shop will be closed all day today for the purpose of marking down stock and preparing for his clearing winter sale. 'I he establishment wllbe re-opened at 9 o'clock tomorrow morning, when the sale will commence As large reductions will be effected all round in order to secure a speedy clearance we have no doubt that Mr Hetlicrington will do a good business. The cheapest and best Housk (?ovkr is undoubtedly the patented "Acmk." Givos entire satisfaction. All covers branded "Acmk." Procure from your saddler.— [Advt.] It is a pity that political affairs at Home should have caused that high-minded Irish patriot to be recalled just at the commencement of his colonial tour. All the Sons of Erin in the colonies were looking forward with joyful anticipation to listening to an oration 'from a man whose noble qualities have made him respected almost as much by bis foes as his friends. A Melbourne paper tells this touching little anecdote :—-" As soon as Mr Michael Davitt entered the carriage which conveyed him to the Melbourne Hibernian Hall, he Avas accosted by i very old gentleman, wearing an old suit of jlack and an old belltopper hat, with the ivords "How is ould Ireland?" Mr Davitt it once stretched' out his left arm—his right s off—and replied in a cordial voice,' Oh, she's allright.'" The usual weekly meeting of the Good Templar Lodge was held on Tuesday jvening, when some nwre members were idmitfccd to the order and several more proposed, for membership. It has been lecidcd that a Debating Society and i Draught and Chess Club be formed in lonncction with the Lodge, and young nen who do not belong to the Lodge are o be invited to attend, and thus spend heir evenings in a more useful manner han a great many do at present. )uring the evening Bro. W. Ensor and Jro. N. Pcarco gave solos, Bro. James a eading, and Sis. Gubb, from Kaipara, a ccitation. The quarterly meeting of the Loyal Vaikato Lodge was held in the Oddellows' Hall ou Tuesday evening, when )ro:E. T. Price was elected N.G., Bro. E. towie V.G., Bro. Cleave G.M., Bro. J. 'eat E.Scc., P.G. Riley K.S to N.G, Iro. W. A. Ihompson LS. to N.G, Bro O. Ashby E.S. to V.G., Bro. T. M. !ulpittL.S.to V.G., Bro. E. W. Rowe luardiau, and Bro. G. A. Hastings Waren. Bros. W. Dceblc, W. Otter, and C. . Ellis were appointed Trustees, and '.G.Lowe and Bro. W. Eddowcs'auditors. i vote of thanks was accorded to the utgoing officers, and G.M, Jackson's ame was ordered to be placed on the icrifc board, and he is to receive a framed M.blem, The Lodge now shows 153 icmbers.. INACTIVITY OF THE KIDNEYS. i r hen not promptly remedied, is the certain i'ecursor of the disease and destruction, life's Schnapps reclaims and invigorates lem.. ..