§ Order for Committee read.
§ Motion made, and Question proposed, "That Mr. Speaker do now leave the Chair."—(Mr. E. Stanhope.)
§ SIR GEORGE CAMPBELLrose to object to the Bill, and contended that it could not be sufficiently considered at that stage of the Sitting. There had been no discussion of it, and he wanted some explanation of it. [Cries of "Agreed!"] He was not prepared to agree to a Bill involving millions without some discussion. His opinion was expressed by the Amendment which he had placed upon the Paper; and which, if he had the opportunity, he would submit to the consideration of the House—namely,
That in view of the difficulties caused by excessive changes in the relative value of gold and silver, advantage should be taken of the proposal of the United States to settle a standard calculated to steady the value of the precious metals, the Government of India undertaking to continue the free coinage of silver if the United States will do likewise.He admitted that, up to a certain point, the abundance of silver was not in all respects an evil to India; that so long as the rupee did not fall below 1s. 8d. or 1s. 6d. in price the Government of India ought not to embark in heroic measures; but it might be wise, in the event of its falling still lower, to limit the coinage of silver, and so artificially enhance the price of the rupee. India was literally the only country where there was now a free coinage of silver. In America there was a limited coinage of silver; and as England and 1335 America were alike interested in pre venting an excessive fall in the value of that metal, he urged that terms should be come to between the two countries—namely, India and America—on the subject. The hon. Member was continuing, when—It being ten minutes before Seven of the clock, the Debate stood adjourned till this day.
§ The House suspended its Sitting at Seven of the clock.
§ The House resumed its Sitting at Nine of the clock.