THE CURRENCY COMMISSION.

Temuka Leader, Issue 1814, 10 November 1888, Page 4

THE CURRENCY COMMISSION.

London, Novenflbpr 6, The Royal Commission appointed it» Sept., 1886, to enquire into and report upon recent changes in the reldivo v lues of precious metals, and their effects upon the trade of. India and the .United Kingdom, presented'their report to Parliament to-day. It strongly recommends that both gold and silver should continue to be the standard money, and proposes a free coinage of both metals at fixed rates. ’• ' • Nov. 7. It appears that the Currency Commission was not unanimous in its report, the members being almost equal y divided. A section led by Sir L. Milet recommends that 'England .should , join America and Germany,,Which are parti Uy bi-metallic countries, and suggestsi that the best basis of union would be the re-establishment of a pure bi-metallic system. The other section, of which Lord Hersohell, chairman of the Commission is head, opposes Sir L. Malet s proposal, on the ground that the risk is excessive; Lord Hcrsche 1 and five other! WembdrS 'embpcly their views in a separate Wpbrt.O They peint out that the opinions of Australian authorities! on 1 the formation of a bimetallic union are unknown, and as large producers qf gold, vrhqae-interests might be threatened, ihe : > Australians might naturally object to so serious a step as introducing a different system of coinage in England from that which prevails in her large colonies.