The Sun.
London, England, 1853-08-18 00:00:00

the population are engaged would be unaffected by the
change ; but when it is considered that the adoption
o :that alternative would, by adding 10d. to the
value of the present pound, and a halfpenny to that
of the shilling, necessitate the withdrawal of the
whole of the present gold coinage, and nearly the
whole of the silver, and involve the alteration of the
terms of all contracts and obligations expressed in coin

Weilhe; of latter metals, your committee would not

feel themselves warranted in recommending the adoption
of such a proposal.
"Your committee, therefore, are now in a position to
resume the consideration of the practical difficulties in

their way and of the means by Which those difficulties
may be most; readily overcome. The most important
obstacles are those connected with the readjustment of
obligations expressed in the penny (including its mul-
tiples and sub-multiples), by recei
pts in which coin
various portions of the public revenue are in great part
raised, such as postage, newspaper, and receipt stamps,
as well as many duties of customs ; in addition to the
class of cases in which private interests are concerned,
such as railway, bridge, ferry, and road tolls. To take an
illustration, it is obvious that if, instead of charging a toll
of one penny or four farthings, as at present, the nearest
equivalent toll under the decimal system, viz., one of four
were substituted, the change would involve a loss to
the receiver of the toll of four per cent. ; while, on the
other hand, raising the toll to five miles would invole a
loss to the payer of 20 per cent. The payment is now
the 1-240th part of the pound, and on the first of the
foregoingsuppositions it would be reduced to the 1-250th ;
on the latter it would be raised to the 1-200th. In the
case of all cumulative and gross payments, that difficulty
will not be felt, and may be disregarded ; as the amount
involved in the change, being always less than a roil ix
each case, is then inappreciably small in comparison with
the total sum.

"The case of the penny newspaper stamps presents no
difficulty, as they are always sold to the newspapers in
considerable quantities, and might be charged at the rate
of 12 for 50 mils (the equivalent of the shilling), instead
of one penny each as at present, the two rates of charge
being identical.
" The payment of the troops may be easily arranged
in a similar manner, for although they are nominally
paid at the rate of so many pence per day, the full pay
of every man is drawn in advance each month, and any
difference between the sum received by him each day
under the decimal system, and that received under the
present system could be adjusted at the monthly clear-
ance, which takes place even at present, for the purpose
of settling any small balance.
" The cases in which the payment of the penny is
made in separate and isolated, instead of cumulative
sums, present greater difficulty.
" The charges payable to the public revenue for duties
and stamps are very generally expressed in pence, or frac-
tions of a penny. Assuming that, at the period fixed
for the alteration of the coinage, no grounds shou'.d
exist for an alteration of those charges, the object to
be attained will be to secure the levy of an equal amount
of revenue in the aggregate, without so far altering

existing charges as to create public dissatisfaction, and
without needlessly complicating the proceedings of the
revenue departments. Your committee are disposed to
believe that these objects may be attained by such slight
modifications of existing payments as will enable the
payments fur duties and stamps to be expressed by a
whole number of mils, the loss upon any one head of
revenue being compensated by the gain upon some
other.

":The f..3se of the penny postage is the most important,
and requires a special reference to be made to it. Va-
rious witnesses who have been examined on this subject
including Mr. ,Rowland Hill, have expressed an opinion
that considerable discontent would be occasioned by
any addition to the present rate, such as the adoption
of a charge of five mils, whatever might be the benefit
to the Exchequer, and they have proposed that the
alternative should be adopted of substituting a rate
of four mils. But your committee feel that, in arriving
at a decision on this subject, it is necessary not to for-
get that, supposing the number of letters transmitted
through the post to remain unaltered, the adoption of a
charge of four mils would involve a loss of revenue esti-
mated at 100,0001. Whether such a loss would be ac-
tually sustained must depend on whether or no the
trifling diminution of charge on each letter would lead
to increased correspondence, in accordance with the law
that is found to prevail in the case of more extensive re-
ductions. On the other hand, it is admitted that, apart
from the fiscal and other practical considerations involved
in the alteration of a duty which was reduced to its pre-
sent rate of one penny in compliance with a popular de-
mand, the establishment of a rate of fivo mils would be
convenient, as representing an aliquot part of the coins
of a higher denomination in the proposed decimal scale,
and that that rate would probably have been adopted,
had a decimal system of coinage been in existence at the
time when a uniform postage was established. Your
committee apprehend that it must remain with Parlia-
ment to decide, upon the consideration of the respective
advantages and disadvantages of the two rates, as above
indicated, whether the postage rate to be adopted under
a decimal shall be four or five mils.

" The new penny receipt stamp is subject to the same
observations. Your committee would only observe,
with reference to. it, that they have no experience to
guide them as to the probable receipts under it, as com-
pared with the receipts under the much higher rates
that have hitherto existed.

" The chief remaining difficulty relates to charges pay-
able to companies or private individuals fixed by act of
Parliament at sums expressed in pence or fractions of a
penny. Of th is class are mileage charges received by railway
companies, and tolls on roads, bridges, and ferries. Various
suggestions as to the means of regulating these charges,
should a decimal system be adopted, have been made to
your committee, especially one whereby compensation
to the owners of such tolls for the loss they would incur
by the ultimate reduction in the charges should be pro-
vided for by sanctioning a small increase in those charges
for a limited period. They refer the house to the evi-
dence they have received on this subject.
" It remains for your committee to consider the ques-
tion of the coins to be employed under the decimal sys-
tem of coinage, and the means of introducing that
system.
"As respects the coins, it will be necessary to with-
draw from circulation certain of the coins at present in
use, and to substitute in their place certain other coins,
having reference to the decimal scale, before the decimal
system can be considered as fully developed. Your
committee contemplate the retention, under any circum-
stances, of the present sovereign (1,000 mils), half-sove-
reign (500 mils), florins (100 mils), and shilling (50
mils or 5 cents). The present sixpence, under the de-
znination of 25 mils, might be retained, and the crown,
or piece of 250 mils, of which few are in circulation,
need not be withdrawn. On the other hand, it will be

desirable to withdraw the half-crown and the threepenny

and fourpenny pieces, which are inconsistent with the

decimal scale.

" With regard to the coins not in actual existence at
present, but which it will be necessary eventually to in-
troduce, your committee refer to the evidence taken by

them on the subject. It appears to them that copper
coins of 1,2, and 5 mils, and silver coins of 20 and 10

mils, will he required, to which should be added such
others as experience may show to be desirable. It is
important, however, to bear in mind that the smaller
the number of the coins with which it is practicable to

effect purebases and exchanges, the better.
"Your committee feel that a certain period of prepara-
tion, destined to facilitate the transition from the present
to the new system, is indispensable. During such a
transition period, various measures should be adopted
with a view to prepare the way for ulterior changes,
and to create in the public mind a desire for
their completion. Several of the proceedings on
eam
the part of her Majesty's Mint, which would ulti-
mately become necessary, might be adopted at the
e nednt s
accounts.in
present time without introducingofcoinage
a g el
a
sistent with the existing system
Your committee believe that no unnecessary delay shcon-
ould
prevent the full introduction of the decimal system,
and.
they recommend that the necessary
sures should be entered on at the Royal
preparatory mea-
possible. e Royal Mint as soon as
"As respects the means to be lo employed for re-
paring the public for the introduction er'y
P
of the new
system, your committee would
valu-
able and detailed evidence on
on the point given by the
refer to the very
ence
Master of the Mint, the Astronomer Royal, Professor
De Morgan, and General
Pasley. Your committee
recommend that all the silver coins hereafter coined
should have their value in mils marked upon them, in
order that the public might, at the earliest possible pe-
riod, associate the idea of that system with their different
pecuniary transactions. They further recommend that
all the copper coins that may be issued under the deci-
mal system should also have their value in mils similarly
marked upon them. They think that it would tend t.o.
familiarise the public with the new system of account,
some of the papers submitted to Parliament, en4l
a;
generally referred to, were exhibited in the decimal
well as the ordinary form.
introduced into
" Supposing the decimal system to be
.into the
its introduction
this country, the question of
British colonies naturally presents itself.
Legislatures
in-
disposition is felt on the part of the Colonial by the fact,
t 9 entertain the question, may be inferred
just established a
that the Legislature of Canada
decimal currency in that country....ee
has been inciden-
" The attention of your comereelitrt n
i quiries to the ad-
tally directed in the course of h
' the decimal sy . .
stem to weights and
vantage of applying ,„ This being a question
as well as to coin. , .
your committee
measures
order of reference,
not embraced in their
a position to do more than ex-
do not feel themselves
press their sense in
()dance of further inquiry
of the inT
into that interesting
your subject.
"In conclusion, having well weighed
the comparative merits of the existing system of coinage
and tle
I decimal system, and the obstacleswhich must
necessarily
be met with in passing from one to the other,
desire to repeat their decided opinion of the •
or ad-
vantages of the decimal system, and to record their
conviction
that the obstacles referred to are not of such
a nature as to create any doubt of the expediency of in-
troducing that system, so soon as the requisite prepara-
tions shall have been made for the purpose by means of
cautious, but decisive, action on the part of the Govern-
ment.
" Your committee consider the present moment espe-
cially adapted for introducing the decimal system, in
consequence of the prosperous state of the whole com-
munity, including those classes which would be more
immediately affected by the change, and they feel the
importance of not allowing such an opportunity to be
lost.
"They believe that the necessary inconvenience at-
tending a transition state will be far more than compen-
sated by the great and permanent benefits which the
change will confer upon the public of this country, and
of which the advantages will be participated in to a still
greater extent by future generations.