12 JULY 1879, Page 14

LETTERS TO THE EDITOR.

MR. LOWE'S SUGGESTION FOR THE SILVER DIFFICULTY.

[TO THE EDITOR OF THE "SPECTATOR.")

SIR,—You ask a question which I should be very glad to be allowed to answer. The question is,—Why do I believe that men would not make a trade of accumulating paper, and presenting it for gold, BO valuable for hoarding P The answer is, because by so doing they would restrict the paper currency, the only legal tender for debts above a small sum, and thus make the paper more valuable than the gold.—I am, Sir, &c., ROBERT LOWE.

[No, they would not. No restriction of issue can make con- vertible paper more valuable than gold.—En. Spectator.]