The Commission on Gold and Silver has failed to give
the decision hoped for from its labours. Half its members have pronounced for monometallism, but half have expressed in a separate Report their confidence that both metals could be kept in circulation if the Governments interested would agree to fix a legal ratio between gold and silver, the proportion usually assumed being 14 to 1. In other words, the Govern- ments of the world, by receiving silver in payment of taxes, can keep up its price to a fixed level. We doubt it, unless they can also keep down the output ; but we are bound to admit that sound economists like Sir Louis Mallet who have been forced by the circumstances of India to study the question very closely, have slowly come round to at least a toleration of bimetallism. It looks all wrong, but it does not much hurt Frame.
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