22 JANUARY 1887, Page 3

Mr. Leone Levi has the courage of his convictions. He

is a strict monometallist, and ventures even to advise that gold should be made the only legal currency of India. He does not, however, suggest where India is to obtain all the necessary gold from. Owing partly to its vastness, and partly to the hoarding habits of its people, India requires a currency out of all propor- tion to its wealth, and its demand for gold would for a long period run down prices in Europe past all endurance. It would want permanently half the supply of the world. Moreover, the cessation of the Indian market for silver would render that metal at least one-third cheaper than at present, which is not the object sought at all.