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The Royal Commission on Gold and Silver

The Royal Commission on Gold and Silver

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Описание
Excerpt from The Royal Commission on Gold and Silver: An Examination of the Report With Remarks on Bimetallism

The Commissioners admitted that as the result of their enquiries they had "few recommendations to make," and the final conclusion at which they arrived was "that while, on the one hand, the information they had been able to collect will tend to dispel much of the misapprehension which appears to prevail on the subject of our commercial position, and to encourage a more hopeful view of the situation; it will also show that if our position is to be maintained it must be by the exercise of the same energy, perseverance, self-restraint, and readiness of resource, by which it was originally created."

It will thus be seen that the practical outcome of the first Royal Commission was to discourage the expectation that the so-called "Depression of Trade" could be ameliorated by legislation. But, while this was so, the Commissioners pointed out that the evidence before them had shown that the depression was not confined to this country, and that the changes in the value of the precious metals, as affecting the currency of the commercial nations, had, in the opinion of some of the witnesses examined, a peculiar bearing upon trade and industry, and upon the prices of commodities.

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