, 1876-08-05

/ QOlIO Va WIFI WhD w OOlALOt @uQ WIZ AZ wa"
known q long time previously that the Govern
ment would make use Of the power given to 1t
to put the enactment concerning American
silver in the Ordinance of 1859 out of force,
and to stop further receipt Of American silver
in che public treasury. Now, without entering
on the question whether an enactment 10 a
Royal Ordinance may 10 that way be altered
by the Administration, be must deny that
it was known or could have been known among
the Public, that the Government intended to
place { 4 of the Ooin-O Ordinance out Of force and
refuse receiving American coin in the Treasu-
ry. He even doubted that the Governments
until a few days before the Publication of 18th
had made up its mind to adopt the measure IN
question so much less could the general pub
lie have had any intimstion of the coming
event; and the refusal to receive American
silver must certainly have taken almost all
parties by surprise. Tho President said, il
the notice were to be Of any use to the public
treasury, it must necessarily be short but in
his opinion it was nol necessary for the p.oteo-
ton Of the treasury at once TO do away with
4 Of the said Ordinance. The question is
whether it is greater Inconvenience to receive
in the Colonial Treasury American silver in
payments not exceeding SIS, or to the Public to
have American silver altogether refused. lie
did not think thers would be any risk of the
Colonial Treasury being overrun and the Co.
lonisl Treasury, or the Government is not sup
posed to be altogether free Of blame in the mat.
ter, At least il is beloved that when the specu-
lstion began, aud American money was bought
in St. Thomas at g large discount, 1t was re-.
seived in the Colonial Treasury at full value
in bureau. payments. rs did not mean TO ex-
press any blame on this head, bat TO show that
if 10 THAI way the Government has helped on
this speculation, then the Government should
be as lsnient as possible to the Public in Ghis
matter. Amy how. when only S dollars are
received in one payment, the Treasury would
scarcely be Overrun, and if only that had con.
tlnued we would have overcome the difficulty
likewise as on previous occasions. But anyhow
if the receival Of such sums in American sill
yer could not continue, the Public ought to
have a longer warning. II parties should not
have needed this second warning, IL would
then have been at their own risk. The hon.
Durable End Member for Frederiksted (Faber)
had touched on a point which Is very impor-
tant, Wis on the payments OF horse, carriage,
and boat taxes which become due after the
goth inst and are mostly collected in amounts
under SIS 1t would certainly be hard and
annoying that all Of a sudden that tax can no
longer be paid in the usual coin. He would
beg further to touch on one point more, viz
the question Of placing an importantly on
American silver which the Government on a
previous occasion had called an absurdity, and
to him, the speaker, also this expedient seemed
rather a brutal one but he has lately noticed
that in Demerara a heavy duty has been laid on
all foreign silver money it appears that there
had been the same influx there as here at
first 1t seems there was no fear of danger, and
the coin was taken freely and as a boon but
In time the country got Overstooked, and a
stop was put to It by an import duty. He
would, still If there were any possibility of
an administrative act being undOne, suggest to
the Government to reconsider the matter he
had however no great hopes in that respect, as
we have heard the reasons of the measure, and
that they appeared to have been we'll consider
ed in their different lights.
The President would not enter at length
into the several points introduced by the hon
durable Chairman, he would only make a few
remarks in connection with some of them.
About 3 or 4 weeks ago a meeting of mer-
chants and others was held here in Christian
sted on the subject of American silver, and
after som discussion it was agreed by The
majority of merchants to refuse, after q GER
tain specified date. receiving American silver,
except at a rate of discount. Immediately after
that he, the President, gave orders to all off,
cials in receipt of public money strictly to OBJ
serve the rule not to receive more than S. In
American coin at one time, and In the first
"Avis" following, a public Notice to that
effect was given. The honorable Member
laid stress on the point, that the Public might