93
extraordinary depreciation
of the value of silver during
the last six months, their
Lordships, while adhering
to their opinion that the principle of fixing the rate
of issue of the Dollar for
the financial
year, on
the basis of a calculation of the
average value
of Silver for the year ending
on the 31st of the
preceding December, is the
best for general adoption,
consider that they will be
justified in taking
an exceptional
course for the present year.
They therefore propose
to allow the rate in question
to be changed in the middle of the financial year 1876-7; they will therefore cause a
calculation to be made of the average price of silver during the 6 months ending 30th June; and they will, as soon as practicable after that date,
issue an Order in Council whereby
a new rate based
upon that value, will come
into operation for
the remaining six months of the financial year.