Colonel L. WARD
asked the Chancellor of the Exchequer whether, in view of the recent fall in the price of silver, it will still be necessary to debase the coinage by taking advantage of the Coinage Act of 1920?
§ Mr. BALDWIN
It is proposed to proceed with the recoinage of British silver coins at 500 fineness. As I have more than once explained, there is no question of "debasing" the coinage. What is in question is the production of a token coinage of which the intrinsic value will not be likely to exceed the face value in any circumstances.