Mr. Goschen intimated that something might be done to rectify
the defects of the currency by restoring the full weight of the gold coinage, and perhaps by "some improvement of the note circulation of the country," which points possibly to al notes, such as Scotland uses so freely, by which it would be very easy so to economise the gold coinage as to supply an ample margin for its restoration. The Government were pledged, said Mr. Goschen, to deal with the subject of local finance. An adjustment of Imperial and local finance would be much easier if there should be a good surplus ; but in any case it would be necessary "to introduce a Bill for the readjustment between Imperial and local taxation." This obviously points to some relief of local taxation by the transfer to local Rating Boards of Imperial taxes. A former speech of Mr. Goschen shows that he is intending to throw a great deal more responsibility than they now wield on the local authorities as regards expenditure and taxation, and to relieve the Imperial Government both of power and of control over local finance by a strong measure of decentralisation. The Local Government Bill is evidently to be the main business of next Session.
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