.
when the latter metal how seriously altered its relahve value to the other,
without to
taking
e,
into account that
cow.
change,
is to institute a false parison. For this cause also the state. ment that the proposed) Japanese duty upon Refines!! Sugars is particularly light compared with that levied in
other countries is open to question.
After deprecating
the win
that the
troduction of the "Silver" "cost of the "Gold" value of sugar in the preeeding paragraph, it is
singular Foreign Office has no besitation in using the "Gold cost of the Tariff levy to illustrate how small the duty is in Gold.
.
But the question
can
only
be viewed from the silver stand point. The duty is not payable in gold.
It is a ten per cent duty upon a silver
cost, which
really
becomes even more
than 10% owing to the selection of air
singlated
inflated, instead of
riod.
620
a normal pe-
The consumers in these silver
wving countries do not find their
currency appreciated,
Europe
Ad
gold is in
The purchasing power of the
"You" is limited and is measured by its silver value in paying for com.. modities expressed in
é he ten
Refined Sugar
in silver, a
it
gold. cent duty upon
per cent
is therefore relatively,
cater imposition than
greater
appears if measured in
gold, particularly in a poor country where the remuneration for labour, which is paid for in silver, has increased little if at all.
was
But this Chamber did not. direct attention to the point whether. the duty
light or heavy. It wished to intimate that this duty, taken at
· 90 cents per picut
or £1.12.9 per lou,
would