A discussion is commencing in the commercial world upon the
fall in the value of silver, which is greatly affecting trade with the East, and all persons interested in remittances from Asia. The Secretary of State for India cannot now sell bills much above ls. 8d. in the rupee, a nominal loss of 4d. in 2s., or 163E per cent., and a real loss of half that amount, or a million and a quarter a year on the official remittance, now in round numbers £15,000,000 a year. The ultimate causes of this decline are the increase in the production of silver and the demonetisation of that metal on the Continent, which are steadily sending down the price :- 1872 Average price 60 5-16d. per ounce.
1876, let Feb. 5 d. it
1876, 1st March ft Sales have been effected lower than this, at b2jd.