, 1876-08-09

silver may be introduced into use again, at
q discount, and as far as required to supply
tbs Efficiency.
End Member for Frederlksted (Fabe). At
what rate would His Exoellenoy exchange
Danish silver? and for what7
The President: For bills, of course and at
full rate.
1st Member for Frederlksted's Country Dis
trict (FIemi9g) ; In case there should be q
scarcity of Danish coin, would the Government
have a fresh amount coined and put into cirou-
lati0n-f
The Precedent had been thinking of that, es.
peclally OF having SO cents and IS cents pieces.
But there would be no difficulty in the world
In case Danish coin should be insufficient, to
retain American silver in circulation at a re-
duced rate.
3rd Member for Frederlksted's Country Dis
trios (Mc. WaNtam'S) impression was that it
10 a pity that 1t was ever allowed that Ameri-
oan coin could pass the public Golfers, which
has placed the Government in a disagreeable
position he hoped past experience will help in
future, So that no foreign coin be allowed TO be
received In the Treasury.
The President: The honorable Member has
hit the matter on the core but The want
of knowledge Of what amount of coin
would really be required, made it necessary at
the time when the decimal coinage was estab-
lished here, to allow until further American
coin TO be received In the Treasury but that
enactment In the Ordinance of 1859 ought
perhaps to have been abolished long ago.
End Member for Frederiksted IFa5e);
1here Is just the point. that after the Govern.
ment' even with the sanction of the law. has
allowed the Island for so many wears to be
OVERLOADED with American coin. now all at
once it suddenly wants to stop its circulation.
Bird Member for Christiansted Hanson,
Inc chief thing Is to try to save the SIMMER
classes from loss on American silver: this
would not be done If the notice were longer
10 iact' losses could on the whole ONLY be
0Volueo 70 some extent but not entirely fer
already since the first Notice people have heen
losing on Am6rican money thew have been
buying up safIofes with the money thev had on
hand, bus of course either at advanced prices or
reduced measure, SO that the difference of coin
Is compensated by the price of the articles. If.
now, merchants and others in Westend had from
me hTst given a full explanation of the case. and
mad taken the coin at its real value, without
man@uvering with the prices of a~rtioleg. The
whole difficulty would have been avoided bnt
Instead Of that they made it appear that they
took American silver at It's full value, but
all the time gave reduced value in mer-
ohahaIze. Here IN Bassln the Police told the
people that up to the lst July. there would be
no loss on the money after that the rates
fixed by the several parties would commence
In his opinion it was high time for the Colonial
Treasury to stop receiving American coin,
whereby there was only provided an easy out
let for the silver gained by that kind of specu.
lation In Westend this measure has now been
achieved by the Notice from the Government,
and be did not think the time allowed too short,
The longer this was continued, the more would
the people lose whereas now, after the notice
everybody will know what he has to do. And
as regards Danish coin, if there should not be
sufficient supply in the Island, We could get
American silver reminted into Danish. He
hoped that he would never again see Ameri.
can coin established here; for with it we are
never safe against questions of difference of
value arising.
End Member for Frederiksted (Fa5sr) would
beg to remark, that the measure taken by
merchants here in Christiansted was not unani-
mOusly adopted from public announcements
1t would seem that there were some who did
not adopt the measure to which the last hon.
Durable Speaker alluded no doubt many others
who did not advertise, disagreed too.
After some few more short remarks, the
Interpolation was closed.
The meeting was closed at d o'clock.