, 1876-08-05

1SSAO0S - A0b S6O bAAAO i ~
stop to the receipt Of American silver, is too
short; but to what he had just stated, he would
now add, that if it had not been for external
circumstances, the time would have been even
shorter, say the 18th instead Of the goth inst;
but from consideration to ST. Johns, where the
could not reach in due time, this
latter date was fixed. Il IS, of course, the duty
OF Government when making a change Of this
kind, to see that it gets all possible publicity,
but from that does not follow that there shall be
given an unnecessary long notice 1t would
have been great folly on the part of the Gov
eminent to have done SO; for then there would
have been a rush of American silver into the
Treasury. to avoid which it was absolutely me-
cessary that the notice should be short. OF
course, he would not contradict the honorable
Members assertion that a change in this money
question In Frederiksted would be caused by
this Notice but as long as people found that
they could get rid of American money by buy
Ing up articles In Frederiksted for at least
n0minally the full value, so long they would
go there to buy and as long as the sellers
there found they could get rid of the coin again,
they continued taking 1t in that way the mo-
menS the possibility Of doing so ceased, the
sellers must of course also cease taking the
money this result would ensue Irrespective
OF the Governments NOtice.-The honorable
AOAhOV OoNAOO OA luO ludtASL VI lLO VII
Bank, and Of parties having recently received
the frst payment In American silver, which
they can no longer give out; but he, the PreSi-
dent, failed to see there could be any cOnnec-
ton between the two things at the time the
payment Of the Savings Bank was made, Ameri-
can silver was bona tide at full value here if
afterwards it should sink In value, who could
the blame rest with I 1t could not be expect
ed, that the Government out of consideration
to suoh parties should incur a heavy loss on
the Colonial Treasury by continuing to receive
the money at full value, with a knowledge that
1t could nOt be given out at the same value for
at least some time, perhaps for ever. AS re-
CARDS tha point whether there Is sufficient
Danish coin In the island, he Is inclined to think
thai there Is at all events measures to secure
ample supply are being taken by private insti
tutionS and should any want really sheW
Itself, the American silver at a reduced rate,
answering to the real present value, will supply
the deficiency.
LIST Member for Frederiksted (Fa5er) would
in reply to one observation that had fallen from
His Excellenoy, beg 10 state that when intro.
duotng his Interpolation he had not been In
tuenoed by speoulatOrs, who must, OF course,
take their loss, ss well as their gains in this
matter he had brought In the matter simply
because a great many persons may lose by this
uooSuIo Oh Tue part VI Lu6 OOV6IulIcuts
lie and others had certainly no objection that
the Government should do Its best to get rid Of
American silver from the Island but be was
afraid much inconvenience and trouble will be
caused by this short notice from Government,
80 much the more as His Excellency is, as we
have now seen. unable to state decidedly that
the requirements will be met by the amount of
Danish silver in circulation. He, the Speaker,
had from several quarters heard that we have
not sufficient Danish silver, and that theirs will
be a scarcity of change when American coin be
altogether withdrawn. Vhe Government
has of late taken much interest In affairs
connected with the labouring rural GLASSES,
and be thinks the present matter is one
that also merits serious consideration from
that point Of view. However, he should
like to hear the views Of other Members Of
the Council.
The C6asrma~ being deslrous to take part In
the discussions, and as the Vlcechalrman
ISarauwI was absent, requessed-the Council
oonsenting- the 1st Crownmsmber DR. Boisl
to take the Chair.
2nd Member for Christiansted (Rosenstand)
GOULD have wished We had had previous notice of
this Interpolation, ss other Members and him.
self might then have been more prepared
the matter is certainly an important one, and
the measure In question will likely give rise to
inconvenience He would not enter on the
general question of depreciation of silver, of
which the Governor had spoken he would
be more inclined to coincide In the opinion