TRANSACTIONS OP THE SECTIONS. 199 



mcnt of a silver standard was allowed to remain ; and this unsatisfactory state of 

 matters continued till 1837, when, although a new rupee was established, the use 

 of silver as a standard was left unchanged. The residt has been that the depre- 

 ciation of silver has produced a most serious disturbance in the exchanges between 

 this coiuitry and India, and has disturbed trade and monetary transactions in India 

 gcner.illy. One of the causes of disturbance was the discovery of the fertile silver- 

 mines in California ; and he regretted to say that there was no guarantee against a 

 further and stiU more disturbing faU in the value of silver, like what took place in 

 the sixteenth century after the disco-\ery of the silver-mines of Potosi. Had the 

 assimilation of the Indian and British currencies taken place in 1810 or 1833 no 

 difficidty would have arisen any more than it had done in Canada or Australia. He 

 did not think that the change of the standard from silver to gold would involve any 

 change in the mode of keeping accoimts in rupees. All that was required was to 

 fix the proportion at which a sovereign would be a legal tender. As to the desira- 

 bility of such a change he thought there could be no doubt ; and had the change 

 been made when the value of the rupee was two shillings it would have been easy, 

 as a sovereign would then have been exactly ten rupees. To remedy the evil, the 

 author concluded by expressing a desire that a reformation of the coinage and an 

 assimilation of the currency betAveen this country and India should take place 

 during the reign of Her Majesty, as in that way the sovereignty of the Queen 

 would, in the circulation of British rupees and British sovereigns, marked with their 

 fixed proportion of rupees, be associated in the mind of every native of India with 

 the lasting benefit conferred on himself and his countrj'. 



On Savings' Banls as a State Function develoijed hy Clvcmty Organization. 

 By W. Neilson Hancock, LL.D. 



The results submitted to the Section were ; — That now the perfectly safe places 

 for the savings of the poor are provided by the State m such numbers, and for such 

 long Lours, and under such convenient arrangements by the Post-Oilice Savings' 

 Banks, the object for which charitable Savings' Banks were established has been 

 fulfilled, and these institutions have become imnecessary and are a waste of cha- 

 ritable effect. 



That the State shoidd withdraw its connexion with them, as the State has only 

 imperfect and divided control, as the limitation of liability of the charitable pro- 

 moters makes the security imperfect, and as it is bad teaching for the poor to offer 

 them a bounty at the public expense to invest their savings in less perfect secmity 

 than the Post-Oflice Savings' Banks. 



That the vohmtary closing of charitable Savings' ]3anks is going on too slowly, 

 owing to the too limited provision for the compensation of the paid officers. 



That the State woidd save £140,000 a year immediately, and as the paid officers 

 died or retired would save £280,000 if the system of official audit in Ireland were 

 extended to England and Scotland, and aU the Trustee Banks and officers, as soon 

 as the audit was completed, were taken over by the State. 



That tlie ser-\ices of the charitable promoters and honorary officers in instituting 

 the general system of Sa-\ings' Banks for the poor, which the State has been so long 

 connected with, and the great profit to the State of immediate and complete con- 

 version of charitable SaAings' Banks into Post-Oflice Sa-\ings' Banks, makes it a case 

 where complete security of serAice or compensation to the officers would not only 

 be morally J u.st, but economically advantageous to the State. 



On the Memorial of Eminent Scientijlc Gentlemen in Favour of a Permanent 

 Scienfijic Museum. By J. Heywood, F.Ii.S. 



IS* 



