If the issue of Government notes took place, the credit of the colony would not be hurt in England; but the Government doing so would be considered the " proper men to meet this crisis. He would however be disposed to stop a good deal of works," and reduce public expenditure in good earnest. In Holland the Government had a perfect monetary system. The Govern ment there issue paper against de bentures. Against ten millions of paper issued as legal tender they de posited fifteen millions of Government debentures, bearing a small interest, just iu the same manner as the Mac alister Miuistry proposed to do in Queensland. In Holland they had old debentures bearing interest at 21 per cent, and new debentures at 4 per cent; the former stood at 50 ill the market, but the latter at 96. Mr. Van Delden gave it as his opinion that what had been done by Holland in this way ought to be done in Queensland, There, everyone liked paper money. Although everyone and every bank will give cash for the paper money, the

people liked paper money better; it is more handy, more easy to carry, aud there is a good deposit in favour of the man who takes it, agaiust the paper issued.
