The Statesman.
London, England, 1819-05-11 00:00:00

am isperfect stale of credit and ennfidoncr, ah I 11.0
absence or banking establiskosents, a nova izr4vr
metallic carrenty is oetee•ary than this country
respire, iu proportion to its forrigo trade •...1
nal commercial des lingi.

" DiSnide, east be encountered durili the pr.
pervious for the reveropt;tm of pi) Meld. in •pec:o
but those difficulties Ire, in the estimation r.f yvt r
Committee, outweighed by the libparicut scd r.t.
mamma benefit of ~,torsos the •tant:erd, by oh ch.
preciously to the year 1797, the value lit cruirniii_
ties toss measured, and which, though verisble in
certain degree, is much less exposed to autistic's'
then any other that can be devised.

" Your Committee abstain from mitering more at
large into this important topic, from a considoratiew
that the 'Asian' ere has on various occasions, rupees ty
pronounced its opinion, oe the policy of rte.'s's.
blishing the metallic randard of value; and that the
duty which it has devolved es your Committee, la no
ether than that of considering, et what period. mid
by what means, that great object can be best effect.:
ed. They see nothing in the circumstances of ibid
country, or of Europe, which ran tender it espedient
Ito postpone preparstioes for the resemption of Cash
Payments, end by thus deferring, moat probably to
aggravate, the difficulties which may be issepartrln
f.em that measure. If, however, the Committee Cali
suggest to the House any plan, by which, is their
opinion the restore of such dilficeities may be prat.
ly relieved, cud at the same time the moot important
of the advantages which would accompany • retorts
to Cash Payments can be realized, they treat they
shall net be considered to sacred the powers com-
mitted to them, by the 'lngestion of each • plan,
though it may involve • temporary demists from
the laws rollick regulated oar cerrinny previously to
the Restriction.

"Apia's of this naturals's been eatierthe consider..
ation of your Committee; and before they explain its
details, or assign the groeads 011 %Ilkley they are dis-
posed to recomaserid the I measures which farm
a part of it, they will preseut its potent oallioa to
the !loom

'They prnpose.—That after the Ist of May, 1921,
the Bank %hall be liable to deliver a cosatity of gold,
not less than 60 &Witt' of standard fieeness, to be
Aral assayed and stamped at his Majesty'alllnt, at
the establial•ed Mint price of 31. 17s. per oz.
in exchange for such an amount of arson presented to
them et shall represent, at tint rale, the sale. of the
gold demanded.
" That this liability of the Bank to deliver gold in
Partner for their notes, shall conlinse for net lea,
than inn nor more than three years; from the lst of
May, 1821 ; end that at the end of that period, Casts
Pa) mews Act be resumed.
" That on • day, In be Reed by Parliament, not
later than the Ist of F.bruary, 199'.0, the Bank shall
be required to deliver gold, of standard fineness, as.
rayed and stamped as before.mentioned, in rschanen
for their notes (so meant of not less than BO citric a
of gold bring demanded) et 41. 12. per os. that being
nearly the market price of standard gold in bane*
an average e 1 the last three einatha.
" That on or before the let of October. 1620, lb.
Beak shall pay their notes in geld of standard lime.
ness, at the rate of 31. 19s. 6d., and en or before she
Ist of May. 1921. as before.mentieaed, at limeades'
staadatd rate of 31. 17s. 10/d.
[Th be continued)