Tue universal remark on the eomposition of the Currency Commission is that it is a strong body. Statesmen are represented on it by the Chairman Mr. Arthur Balfour, a man of a very inde pendent and cultivated mind, and by Mr. Chamberlain who, among his other and higher qualifications, may be considered to represent the home rinde, Mer. Balfour is one of the 1 of the Bi-metallic League, and la ao far com. knitted, bot it is anid that he "is un-trammelled by the mach learning', on the subject which may make a cur-venom theorist mad." Judging from hie apecohes and writings ko la evidently 1 nota man to allow his theoretical lean ings to ® particular opinion to make him tuke ange granted, ne ho in rather of a gcaptionl and snidonic turn of mind, Mr, Chamberlain we know, As faras is known Mr, Courtney la unbiassed on the currency question, pon which ho la somewlint of an anthority, and ho has served as Financial Seoretary to the 'l'reasury. Lanenshir represented by Mr, Houldsworth, one of the Members for Manche: d supposed to be tinged with hi-metale Yam; English banking and fiancee by Sir John Lubbock and Mr, Lionel and commerce by Mr, 1 Mildred, Goyenecho guished himself above the common ran of Chairmen of the Bank during his term of office; Me. J.
Pullen. Smith, formerly of Jardine, Skinner & Ca., Calcutta, and now a member of the India Gouneil, and Me. Barbour, Secretary to the Government of Indin, Finance Department, repre. sent I Officin! intereste, and Bug-huh officintdom tug Mr, Fremantle and Sir Thoms Farrer to expound its view The work which the Commission is to undertake is specified in the Trensary Minute of the Gth of September, It i first. to enquire into recent changes in the relative values of gold and-silver, "shown by the decrease in the gold price of silver" nnd it is expecially to ingnire whether these changes are due (1) To the depreciation of silver 5 or (2) Lo the appreciation of gold; or (3) To both these causes.
Having ascertained whether it is appreciation or depreciation which brought sbout these changes the com. invasion is to report whether the nscertained ensue has been dac to inorensed supply in the case of silver, or inerensed demand and diminished supplies, as regards gold, The effects of the changes in value on India and the United Kingdom are to be exhaustively examined into—Firstly a8 regards Iudin—(a) Upon the remittances of the Govern-mont of Indi 4, For payments on old or fixed contracte.
2, For payments on new or current con-
(6) Upon the persons in Indix who have to make remittances home in gold.
(c) Upon the producers, merchants, and taxpayers of India, Upon merchants and manufacturers at home who trade with India.
And Secondly, us to the United Ki dom—
Upon the trade of the United Kingdom with nther Upon the internal trade and industry of Se ated Kingdom.
And the two Inst clauses in the Minate Jummission should come to the that the aforesaid changes in sot the precious metals are caue-
8 to any of the referred to, it would be inquire whether it is p any remedies within the power of the Legislature or the Government, by itself concert with other Powers, which would be effectual the evils ety other interesla and other evils or incon-
Commission are of opinion that thi is possible, they would state the precise form which' such remedies should take and the manner in which they should be applied eof the Minnie is wide, and, although there will be much heavy work to be done, it seems probable Bat the Commission will be able to realize will report before 1 February, By way of keeping our renders ace quainted with what is suid on the cur. rency question we give the following notes, which w nue from lime to time,—The Memoir by Me, O'Conor, which we published " short time age, wns the exse of the Indian Government, stated, and has ber severely, wimest contemptuously, ha led by the Economist of the 28h August," What is really interesting,"
O'Conor''s statement is his frank admission of the fuct that what hi-metal. lists are aiming at is such a currency inflation as will force up the prices of ull commodities." This "forcing up" of prices for the benefit of "few merchants will be strong argument against hi-metallism, should any apprench to that system be proposed. This expectation of the effect of bi-metallism is exposed in an article in the Inst Truth. The writer, in the usual style of the journal, says "that hi-wetallism is nothing more than attempt on the part of capital to client Inbour." The "forcing up" of prices will make a good ery with popu-Me constituencies, which so far as we oan judge rennin perfectly indifferent to the currency question, It is siguificant of this that it does not seem to have been alluded to at the Interuntional Congress of Working-men at Paris, and there is no mention of it in the speech of the Chairman of the Trades Union Congress at Hall, in which be stated the subjects that would be discussed. The Report of the Commission may change the indifference of people in England and other European countries into interest, and it may Lave the same effect in Amerion, where the nation generally seems to care nothing about it. The simplest economic aspects donot seem to be understood, orifunderstood are concealed, by those whose me terests are on the side of dearer silver, Writers in such a high class paper as the Manchester Guardian talk of millions oun 8 worth of silver being sent to Indin and China if hi-metallism were adopted. They do not tell the public the purposes for which it would be sent, nor does Kullow's Trade Review when it supports a sugges tion like the following—that as Germany and China are friendly powers, the latter country should be persuaded to support the limited import of stamped silver bare from Germany, The origin, weight, and contents would be guaranteed by Imperial—that la, by a Germau—stamp, and the Chinese Government for ite part would be asked to take these bara as payment, jast like the Mexican piastre, at fixed rates for duties, We should like to seo the faces of the members of the Tsung-li Yamen when the German Minister made a proposal to them to adopt a German currency for the Ewpire. But this in passing: what we would point out is thnt silver la power of foreigners in other ways becomes me sufficient. Chere is another point cone nected with the Silver ion, that is generally shunted by hi-metall will be found treated of in an extract from the Pioneer in another column, REUTER'S TELEGRAMS, JouRNALIsTs in the Haat may be pardoned if they consider Reuter's Telegraph Company one of the punishments inflicted on them for their sins and shortcomings. It is at all events @ serious trial of their patience; for the mistake in the messages it furnishes at every place, from Bombay to Shanghai, are curious and ingenious, The employes of the Company would appear to grow steadily more proficient in disseminating unintelligibility, Some of their despatches are incoherent to an extent that ® Jupanese journalist would call comical, but to which other people would apply a harsher form others might be rend backwards or forwards with equal enlightenment, and others again are in no ways under. standable of the vulgar. The mistakes made by Renter are so varied that those whose memories are long enough and strong enough to enable them to keep the run of them, Lave long ago concluded that they are the work of many practised heads; and the results prove that many heads are in this case much worse than one could possibly be. These results are both irri amusing, though the journalls very little of the latter sensation from them. Most of the craft in the East have probably given up in despair all attempts to mend matters, though here
Text read from the printed page and cleaned; old type leaves the occasional error.