HC Deb 02 May 1895 vol 33 cc308-9

I now come to figures relating to the coinage. The amount of light gold withdrawn in the year has been £3,300,000; sovereigns, £2,171,000; half-sovereigns of the value of £1,129,000; loss by deficiency, £47,130, about equally divided between sovereigns and half-sovereigns. The average loss on 1,000 sovereigns, £10.84; 1,000 half-sovereigns, £10.45; (1) amount withdrawn up to April 1, 1895, £26,700,000; 16,106,000 sovereigns, 21,188,000 half-sovereigns. The amount originally estimated as light was £43,000,000; sovereigns, £29,000,000; half-sovereigns, 14,000,000. There should, therefore, remain to be withdrawn £16,300,000; sovereigns, £12,894,000; half-sovereigns, £3,406,000; (2) the value of the deficiency in gold withdrawn has been, up to April 1, 1895, £429,000. The loss has been met by the money originally provided by the right hon. Gentleman (Mr. Goschen) and the accrued interest upon it, so that it has not been necessary to have recourse to the additional power taken to advance money for the purpose. If the original estimate proves to be correct, an additional sum of about £200,000 should suffice to complete the operation. It may be necessary to quicken the withdrawal, which now only a little exceeds £3,000,000 per annum.