CABLE NEWS.

Te Aroha News, Volume XI, Issue 1744, 1 June 1895, Page 2

CABLE NEWS.

; -j;-81-METALLISM: y •views of'sir, w. V. HAECOURT,. . DECISION OF THE GOVERNMENT v !; ! ; May 27 1 -\ Sir W, V- Harcourfc has expressed his .concurrence' with the views contained iu.tha ; up by . inercliahts, and'others, praying for adherence to the .single goid standard;. He sajis the GoVei-iiment. will give;no" countenance to any change in the fundamental principle of ; the existing-monetary standard. v, '\ x : ■ Hater.; In roplyihg to the bankers’ memorial, Sir W. V. Harcouffc said that any departure from tho gold standard would involve national disaster! ’. ....: / v Brisbane, May 29. Sir S. Griffiths, speaking at the Technical College, said the fixing by law of the relative.values of silver and gold would have at niost only a temporary effect, as values did not depend on the will of law-givers, but no production. Its effect on exchange, and the practical-difficulties in the way of inducing tho whole world to fix tho relative value, would be enormous,, if not insupef ible. The opening out of Asia in competition with the rest of the wor'd brought the rest of the woi'l down t > Asiatic values, and an atteuip to realise the proposed result, wouid cause infinite confusion and disaster i.i. the East.* He admitted the existingstate 5 of things to be most alarmin' Owing to the appreciation of g 11, a i a the -'stationary condition of • prices in silver cou 't-ies. He s-t.-ungiy urge l. the careful consideration of the question by financiers.