, 1876-08-09

said to-day, that there was no risk Of getting
the Colonial Treasury overruu with American
silver, it has been overlooked, that while the
Treasury would then be the general depository
for that kind of coin in payments etc., nobody
will take the coin from the Treasury again.
The result will, of course, be that spectators
who had got American silver from various
channels at a low rate, will give it out at
fuil value to the Treasury on all occasions
where possible, and there 1t would remain.
10 avoid this, he thinks the Governments
notice a step in the right direction.
@nd Member for Frederiksted rFa5erI could
agree with the honorable Chairman in regret
ting that the matter had not been introduced
earlier, so that all could have been more pre-
pared) but he had very recently become
acquainted with the Notice, and he thought
1t right, even 10 the 18th hour to bring the
matter before the Council, which, as the term
for the receipt of the coin was to expire very
shortly, and the Council would most likely not
meet soon again, had to be done to-day. From
what we have heard be believed too that the
whole Council, With exception Of one Member
agree in considering the notice entisely too
short and likely to create great inconvenience;
we are not to know what may come out Of 1t /;
and are we prepared to master the conse.
q%uenoes 1.-The honorable Ist Member for
Ohristiansted [Lemmingl had spoken as if
things would have gone on smoothly, If it had
not been for Westend; he, the Speaker, thinks
that too much and undue stress has been put
on the supposed opposition prevailing in West
End in this matter and be believes that the
step taken In West End has just served to keep
things hitherto as they are; for no one can
foresee what the consequences might have been
and may still be if the labonrers refuse to receive
American coin, and sufficient Danish coin cannot
be had, The honorable Chairman had clearly
laid before His ExcelIency how desirable 1t would
be either to continue receiving IS at a time
In the Treasury, or to give q sufficiently long
notice of the entire withdrawal all agree In
the desire to get rid Of American coin, and
the steps in that direction already taken
would, especially If they be observed stringent
ly, make the matter quite easy and the expedt-
ent advised by the honorable Chairman very
accommodates at all events by that a stop
would be put TO the importation of American
silver, and by degrees what is here now will
be re-exported lseWhere.-Hl ExcellenGy says
this short notice is requisite and best if there
were here only question OF checking q proceed
Ing exercised by q few merchants, 1t might
perhaps be so but here is question Of inter-
fering with the whole great labouring popula.
ton and their means that class has not had
notice, in fact they know nothing of it, and to
them the measure will be sudden and unex-
pected. And when mention has been made
Of the coin being received in West End after
the first Notice from the Presidency and q
few merchants In Basin, 1t must be emem.
bered that also in st. Thomas all cash transact
tiOns are made in American silver.
The President could only say that from
official information received from st. Thomas
it would seem that the honorable Members
last assertion would not hold good. American
silver is certainly received in st. Thomas, but
at what rate1 [Faber full rate In retail
but recently a Member of the Colonial Council
In St. Thomas proposed a resolution that
the Government would receive taxes in Danish
silver up to 800 at a time, instead Of IS, and
he expressly stated that American silver was at
s to 1000 below value, and even under Danish
silver. Several honorable Members seem to
think it would be little or no inconvenience to
the Colonial Treasury to take American silver
at reduced rate but it would be causing an i'm
mense amount of inconvenience in the book
keeping.
End Member for Frederiksted (Ba6er) re-.
marked that according to letters he had receiv-
ed about IA days ago from St. Thomas, Ameri-
can silver passed at full value between man
and man. AS regards the discount on this
coin compared with Danish coin, it mist be
because the latter is so scarce, and almost
unobtainable; it seems that certain parties
are putting it up, for use later. In West End
too there is great difficulty to get Danish
coin.