§ MR. MONTAGU (Tower Hamlets, Whitechapel)asked Mr. Chancellor of 1320 the Exchequer, Whether a Royal Commission will be appointed to consider the silver question; whether, if such a Commission be appointed, it will also inquire into the unsatisfactory condition of the gold, silver, and copper now in circulation; and, whether the scope of the said Commission will include the consideration as to the advisableness of facilitating commercial transactions and elementary education by introducing a decimal currency into this Country and India?
§ THE CHANCELLOR OF THE EXCHEQUER (Lord RANDOLPH CHURCHILL) (Paddington, S.)In reply to the hon. Member, I have to say that Her Majesty's Government, having considered this matter with great care, have decided to appoint a Royal Commission to inquire into the recent changes in the relative values of the precious metals. The Commission will not inquire into the unsatisfactory condition of the gold, silver, and copper now in circulation, nor will it be within the scope of the Commission to—
Include the consideration as to the advisableness of facilitating commercial transactions and elementary education by introducing a decimal currency into this country and India.The Government are distinctly of opinion that that is a very bold assumption, and that, so far from facilitating elementary education or commercial transactions, the introduction of a decimal coinage might have a directly contrary effect. I hope to be able to state in a day or two the names of the Commissioners, and to lay on the Table of the House to-night a Minute of the Treasury setting forth the causes of the appointment of the Commission and the terms of the reference regulating their inquiry.