§ MR. COLERIDGE KENNARDasked Mr. Chancellor of the Exchequer, Whether, in reference to his statement on March 5th that wage-earners to whom ten shillings are due now practically receive only seven shillings and five pence, Her Majesty's Government have in contemplation the introduction of any remedial measure calculated to allay the anxiety naturally evoked in the minds of the working classes by his said declaration?
§ THE CHANCELLOR OF THE EXCHEQUER (Mr. CHILDERS)I must point out to the hon. Gentleman that he has not correctly quoted my words. What I said the other night was that the intrinsic value of 10s. in silver coins was only 7s. 5d., not that the wage-earner to whom 10s. was due practically received only 7s. 5d. When the hon. Gentleman is paid £5 by means of a bank-note, he receives what is intrinsically worth less than a farthing; but it is really worth £5, because it is a convertible legal tender for a payment of £5; and 10s. in silver are worth 10s. for the same reason. As I said before, I do not believe that any person belonging to the working classes requires to have his mind relieved of these matters; and I shall certainly not introduce what the hon. Gentleman calls a "remedial measure."