CO129-316 - Governor Sir Blake - 1903 [1-4] — Page 605

春

182

582

591

using country would hesitate to buy so largely from her until there is an appreciation in the value of silver. In the meantime the silver using country would prefer to remain a seller and not a buyer. So long as there is no fixity of exchange settled between the gold using and the silver using Countries, trade can hardly be carried on without one country or the other suffering a loss.

The law of demand and suppl, and the question of whether export exceeds import or vice versa enter largely into their

transactions.

Sir John Keane.

Private Secretary,

I have the honour to be,

Sir,

Your most obedient servant,

Beitsaky