§ STATEMENT.
MR. GLADSTONEI wish to ask permission to make a statement which concerns probably very few, if any, Members of the House, but which concerns deeply the members of a small but important trade in this country. In submitting the Financial Statement, I brought forward the subject of the Silver Duties, and I stated that I did not see my way to encounter the very heavy charge or drawback in the event of the immediate repeal of those duties. I said that there was another alternative—namely, proceeding by gradual abolition, which had been suggested by an eminent member of the trade before the Committee on the subject. Since then I have had the advantage of seeing deputations upon the matter, yesterday in particular, and they have satisfied me, not, I am sorry to say, that we should encounter the charge of the drawback, with regard to which it still remains in all the difficulty I formerly represented; but that in the present condition of the trade, when purchasing is very weak, and the demand very slack, to propose anything like a gradual abolition would be attended with much inconvenience, 1297 and such a considerable further slackening of the trade, that upon consideration, after consulting with my Colleagues, I have determined that it would not be wise to persevere, but to wait for circumstances of a more favourable character. I thought the House should be apprised of my intention at the earliest possible moment, and I have therefore asked their indulgence on this occasion.
§ SIR STAFFORD NORTHCOTEAre we to understand that the idea of dealing with the Silver Duties at all is for the present abandoned?
§ MR. RITCHIEgave Notice that, on the Order for the Second Reading of the Customs and Inland Revenue Bill, he should call attention to the Prime Minister's statement, with the view of showing that it was as likely to promote paralysis in the trade as his previous statement with respect to the duties.