, 1869-03-23

tLS lofelSu COlH, OuC OC0erWiSo TO leave the
matter to regulate Itself. 1t was quite certain
that this influx of a foreign coin, which cireu-
lates at a higher value than it has in reality, is
very detrimental in its effects, and to indge
from remarks that have fallen here in the Coun-
ell, it has also led to an enhancement in the
price of the daily necessaries of life sold by the
retailers, which, in his opinion leads to losses
for the poorer classes. 1t is to be regretted
that also in this instance we here in this Island
have thought that we could do just the very
reverse of what is acknowledged as a ruling
principle every where else in the world, and by
private agreements and other like measures
thBt can be carried out in a small community
like this, have prevented the businessmen of
the place from at once following the straight
practical way adopted in st. Thomas, namely
to refuse to receive money at a higher value
than that which they have in themselves &C.
cOrding to the existing businesses relations and
circumstances. In this respect the Govern
ment could, without in any way bringing into
action its authority as such, or without using its
leglSlative-power, but simply in the capacity of
a party to whom a payment is to be made,
have sat the example that step would have
caused the coin in question to keep in their
Intrinsic value, and those few individuals who
for their W gain but to the injury of the pub
lie in general have bought up that coin in St.
Thomas at their intrinsic value, and few DAYS
after given them out here for more than thew
are worth, would then have been obliged bro
prio motu to abandon that business assan i'm
proper one, before the evil results stated pre-
viously had developed themselves. The whole
thing bears evidence, however, of the existence
of a deeper and greater evil, namely the state
OF dependence in which the estates proprietors
hRrQ y IN fhncn who os-o H.. $500
When these coins have here been looked upon
in the light of an article of trade, this was per
fectly correct, in so far as they are subject to
some of those influences which evince them
selves when the market is overstocked with
them but it won't do to suppose that those
coins are from that reason suitable objects for
lmport-duties for in their everyday use thew
do not cease to be that which they were origi-
nally intended to be, namely, medium of cir
%culatlon. A duty like the ONE referredt to would,
besides that, also be attended with other seri-
Gus inconvenience, and the only thing which,
In the Speakers opinion, the public Authorities
have to do, provided they should do ANYTHING
at all in the matter, is to declare by a public.
announcement, that fhose foreign coins will not
be received in the poublic chests except at q
certain discount.
AS no other member desired the word, the
Council proceeded to
S, Resolution respecting the furtherance of an
Interpolation by the End member for Frede-
riksted's country dilrict (Knight) concern
ing the right Interpretation of the legal enact
ments concerning repayment of the expenses
for the Introduction of immigrants into the
Island.
The Council gave unanimously its consent
to the Interpolation being made, and the Chair
man said, that it will be placed on the order
of the day for next meeting.