§ SIR GEORGE CAMPBELLasked Mr. Chancellor of the Exchequer, Whether, considering the constantly increasing accumulations of silver in the treasuries of the United States and Prance, and the necessity under which those Countries must soon be of either paying out silver as a legal tender or demonetising it and throwing their stocks on the market, Her Majesty's Government intend to resume the negotiations proposed by the United States, with the view of obviating excessive fluctuations, by an agreement among the principal silver-using Countries?
§ THE CHANCELLOR OF THE EXCHEQUERSir, I presume, by the expression "negotiations proposed by the United States," the hon. Gentleman refers to the proposal made some time ago by the Government of the United States, under the provisions of an Act of Congress, to several European nations for the sake of adopting a common ratio as between gold and silver for the pur- 912 pose of establishing the international use of that ratio, and securing a fixity of relative value between those metals. That proposal, as the hon. Gentleman is aware, was so far entertained by various Powers that a Commission was appointed, which sat upon it in Paris. England was represented on that Commission, and a Report was presented to Parliament; but there is no intention on the part of Her Majesty's Government to take any steps towards resuming those negotiations.