Barbour, of the Indian service, furnishes About 1856 it was held by some a long' note. He is a pronounced doctrinaires that there was too much hi-metallist, but cautiously says that gold and too little silver. A good many the introduction of a double standard things have changed since then, as we should be made gradually, and after hope to shew by a synopsis of the careful examination, He represented article in question. the Indian government and service on the At that time the writer says—" Every Commission. He gives some striking, fortnight thatthe mail steamers depart for if not very novel illustrations of the the East the newspapers detail the enor-changes in value which have been mows amount of silver that they carry brought about since 1873. A native of to the India and China markets;—the India who had 15 years ago hoarded newspapers also dwell continually upon 1,000 rupees in silver would still have the large quantities of fice franc pieces his 1,000 rupees, but he who had hoard-imported from France to satisfy the ed the same sum in gold would now demand for silver for the East, and upon find it worth 1,430 rupees. Mr. Bar-the continued drain of gold to replenish hour says that every person in England the exhausting treasure of the Bank of who has had his capital invested in France—and lastly, it is intimated that silver using countries has been losing 2 the French "government are contemper cent annually for the last fifteen plating a prohibition of the export of ears, while every one who has invested silver." France was then coming to a in a gold using country has found his dead-lock by continuing a double noun during the same period. "This capital increased nearly 3 per cent per standard in ler coinage, when one of the linked metals had become more is a favourite illustration used by valuable that the other. In 1802 a hi-metallists to support their assertion law had been pussed by which obliga~ that the fall in the value of silver has tions were made payable either in gold or prevented capitalists from investing in Silver at the option of the debtor. "The the East, but they say nothing of some legal relation then fixed between the compensating advantages which inves-two was as nearly as possible the actual tors in silver using countries have had, relative int value which the two such as higher dividends from joint metals then bore to each other in the stock companies than were obtainable markets of Europe." 'The franc' piece at home, higher rents and prices for contained 75 grains of.standard silver properties, whether in lands, houses, and the Napoleon or 25 frane gold piece or plantations. Mr. Barbour points to contained 97 grains of standard gold, so the danger of gold becoming hoarded that 97 grains of gold were quill to in India, to a greater extent than it 1,500 grains of silver, or in the proporhas been during the last few years, in! tion of 1 of gold to 15.464 of silver. which he sees a great danger to the world. These relative values were soon dis-But to-do so the silver price of gold turbed by a slight rise in the price of would be so raised that native holders either metal end it soon became a proof the metal mise be tempted to realise fitable operation to purchase one of their profits. In China where it has! them with the other; gold was bought been the immemorial custom among with silver, and silver imported the wealthy to have part of the family with the proceeds, until gold coin al-possessions in gold bars, we believe that most disappeared and could only be
Text read from the printed page and cleaned; old type leaves the occasional error.