The Sun.
London, England, 1857-03-31 00:00:00

LORD • QODERICH ON THE OURRENCE

. .
The 'following has been transmitted to us for
publication : . .
1, Carlton-gardens, Pall-mall, London, March 23.
Dear Sir,—l have much .pleasure in replying at once
to the questions contained in your letter of the 20th
in.tant.

You first ask me whether I will oppose all restrictions
on the cireelaiii,gimediumfor carrying on trade imposed
by the Bank Charter. Act of 1844, which shall not be
proved to my satisfaction before the committee of in-
quiry to be necessary and beneficial.
To this I reply, that I shall certainly oppose all re-
strictions of that kind, of the necessity and benefit of
which I'am not clearly convinced ; but I am not willing
to bind myself to force my judgment exclusively on the
evidence which may be given before the committee of
inquiry which will probably sit during the next session,
as I cannot tell in what. manner that inquiry will be
conducted.

. .
Your second question is, whether I ant favourable to
monopoly and restriction, or to free trade in.a perfectly
sound currency.
My answer is that I am not in favour of monopoly
and re,triction, but have •alwaye advocated . tree trade.
The whole question, however, with regard to the cur-
rency is, I take it., involved in the last words of this
question, " a perfe4ly sound currency ;" and as I wish
to give you my views frankly and without concealment,
I must say that it is not my opinion that a perfectly
Round currency would be secured by the removal of all
restrictions upon the issue of notes.
The scientific study of the subject of currency is cona•
paratively new—it is a delicate and complicued one ;
and I am quite open to conviction upon that branch of
it to which your questions refer. The evidence taken
before the cominittee•which is about to sit, will receive
my best, and I hope most impartial, consideration ; but
at_present I am utAble to convince myself that so com-
plete a removal of the existing restrictions upon the issue
of notes as you, as I am well aware, so ably advocate,
could be adopted with safety, although, as I have said,
I shall always be anxious to remove every restriction of
this kind which may be shown to my satisfaction to be
un n ecessary. .. . .

You are quite at liberty-to make this letter public, ii
you wish it. —I am, &c., ' GODERICH.
Hamer Status Esq.

Mr. Stanafeld begs leave to add that the maxim advo-
cated by him "Take care of the quality, maintaining
the convertibility of the note by adequate security ;
the quantity tilte care of itself."

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iuiraeu-
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