COINAGE.

Gisborne Times, Volume XXII, Issue 1731, 24 April 1906, Page 3

COINAGE.

By, telegraph, Press Ass'n, Copyright London, April 22. Sir John Forrest, in an intorviow, said iho Treasury feared that tbo withdrawal )f more than £IOO,OOO of silver coinage yearly would result in a considerable das. Even at that rate it would take twenty years to withdraw two millions circulating in Australia. The continut.noe of two silver ooinage circulations in that period would bo unsatisfactory. With the existing silver currency withdrawn the maintenance of the gold coinage at full standard weight now borne by Imperial mint would become a burden on Anatralia, It would be necessary to decide upon how much of that coinage the obligation would rest, besides the establishment of a d fferent silver ourronoy might tend to widen, instead of tighten, the bonds of Empi'e. Such a currency would require careful watohiog to avoid depreciation by reason of excess of silver or the public being inconvenienced through inadequate circulation. There was no likelihood of the Uoited Kingdom establishing a decimal ourronoy in the near future. It has been agreed that a silver coinage on Iho decimal currenoy st/all be submitted to the rest Imperial Conference. Bir John Forrest found that fioaaoiars regarded very favorably the Commonwealth status and credit.