THE COINAGE QUESTION.

Wairarapa Age, Volume XXVIX, Issue 8125, 24 April 1906, Page 5

THE COINAGE QUESTION.

Received April 23, 7.22 a.m. LONDON, April 22. Sir John Forrest, in an interview, said the Treasury fears that the withdrawal of more than one hundred thousand pounds of silver coinage yearly would result in a'considerable loss. Even at that rate it would take twenty years to withdraw the two million circulating iu Australia. The continuance of two silver coinage circulations during that period would be unsatisfactory, and if the existing silver currency was withdrawn the maintenance of a gold coinage of full standard' weight now borne by the Imperial! Mint would become a burden on Australia. It; would be necessary to decide upon how much of that coinage the obligation would rest. Besides, the establishment of a different silver currency might tend to widen instead of tightening the bonds of the Empire. Such a currency would require careful watching, in order to avoid depreciation by reason of an excess of silver, or to prevenc the public being inconvenienced through an inadequate circulation. There was no likelihood of the United Kingdom establishing a decimal currenoy in the near future. It had been agreed that a silver coinage decimal currency should be submitted at the next Imperial Conference. Sir John Forrest added that he found financiers regarded very favourably the Commonwealth status of credit.