The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1886-09-11 00:00:00

GOLD AND SILVER COI4SIISSION.

The following Treasury Minute, on the appoint-
ment of a Royal Commission to inquire into the
recent changes in the relative values of the precious
metals, has been laid on the table of the House of
Commons by the Chancellor of the Exchequer:
"The First Lord and the Chancellor of the Ex-
chequer call the attention of the Board to the third
report of the Royal Commission upon the Depres-
sion of Trade, recommending that a special inquiry
into the group of questions which relate to the
currency should be set on foot, and conducted
under an order of reference carefully pre-
pared, so as to include all branches of the sub-
ject. The necessity for such an inquiry as the Com-
mission suggest is confirmed by the evidence of
anxiety widely felt both here and in India; and the
First Lord and the Chancellor of the Exchequer,
considering that the advice of the distinguished men
who constituted the Commission is entitled to the
utmost consideration, propose to advise her Majesty
to issue a Royal Commission of inquiry into the
recent changes in the relative values of the precious
metals shown by the decrease in the gold price of
silver. - _

"It would be the duty of the Commission to investi-
gate the causes of these changes, and especially
to inquire whether they are due (1) to the deprecia-
tion of silver, or (2) to the appreciation of gold, or (3)
to both these causes. If they should find the changes
to be due to the depreciation of silver they would then
inquire whether such depreciation arises from increase
of supply or diminution of demand, or from both, and
they would endeavour to ascertain the proportions in
which these differznt causes have operated. If they
should find the changes to be due to the appreciation
arises from the diminution of supply or from increase
of demand, or from both; and they would endeavour
to ascertain the proportions in which these different
causes have operated. •
"Having regard to these different causes and their
respective effects, they would next inquire what has
been the bearing of the changes in the value of the
precious metals in the following matters of practical
business :

INDIA.—(a). Upon the remittances of the Govern-
ment of Inc:Fa—M. For payments on old or fixed
contracts • (2), for payments on new or current con-
tracts; (1;), upon the persons in India who have to
make remittances home in gold; (e), upon the pro-
ducers, merchants, and taxpayers of India; (d), upon
merchants and manufacturers at home who trade
with India. •
"Timn UNITED Kixonoir.—(a). Upon the trade of
the United Kingdom with other silver-using countries;
(b), upon the foreign trade of the United Kingdom
generally; (c), upon the internal trade and industry
of the United Kingdom.
"If the Commissioners should come to the con-
elusion that the aforesaid changes in the values of
the precious metals are causing permanent or im-
portant evils or inconveniences to any of the interests
above referred to, it would be their duty then to in-
quire whether it is possible to suggest any remedies
within the power of the Legislature, or the Govern-
ment, by itself, or in concert with other Powers,
which would be effective in removing or palliating
the evils or inconveniences thus caused, wiqiout in-
justice to other interests, and without causing other
evils or ineonveniexces equally great.
"Lastly, if the Commission are of opinion that this
is possible they would state the precise for which
such remedies m
should take, and the manner in which
they should be applied.
"My Lords concur, and on learning that it is her
Majesty's pleasure to issue the Commission, they
will give directions for preparation of the necessary
documents."