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EXCHEQUER BILLS OF LOW DENOMINATION. Florence, 6th February 1855. Sin—The recent success of the Emperor of the French in raising a loan of twenty millions sterling, in consequence of its having been divided into small sums so as to suit the convenience of the less wealthy class of the community, suggests the idea that the Chancellor of the Exchequer might obtain the same result, and at the same time confer an equal boon upon the British public, when more money shall be required than at present for carry- ing on the war, by issuing Exchequer Bills of ten pounds sterling each, bearing interest at the rate of one farthing per diem ; which might be brought promptly into general circulation by paying with them at par the officers, clerks, and other persons employed in the various departments of the Government, as well as contractors who may supply what maybe re- quired for the public service - giving, however, to each individual the option of refusing to accept these service; Bills, and of insisting upon being paid by preference in the current coin of the realm.
I have the honour to be, Sir, your obedient humble servant,
W. BRYAN COOKE.
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