we think that any premature and doubtful step might, in addition to its other dangers and inconveniences, prejudice and retard progress to this end.
"We think also that many of the evils and dangers which arise from the present condition of the currencies of different nations have been exaggerated, and that some of the expectations of benefit to be derived from the changes which have been proposed would, if such changes were adopted, be doomed to disappointment.
"Under these circumstances we have felt that the wiser course is to abstain from recommending any fundamental change in the system of currency under which the commerce of Great Britain has attained its present development."
From these opinions dissent was directly expressed in Part III. of the report by the remaining members—Sir Louis Malet, A.J. Balfour, Henry Chaplin, Sir D. Barbour, Sir W.H. Houldsworth, and Sir Samuel Montague. Page 285
"We cannot doubt that if the system which prevailed before 1873 were replaced in its integrity most of the evils which we have above described would be removed; and the remedy which we have to suggest is simply the reversion to a system which existed before the changes above referred to were brought about—a system, namely, under which both metals were freely coined into legal tender money at a fixed ratio over a sufficiently large area.
"The remedy which we suggest is essentially international in its character, and its details must be settled in concert with the other powers concerned.
"It will be sufficient for us to indicate the essential features of the agreement to be arrived at,