cHAP. vi] TRADE RELATIONS AND CURRENCY 1185
graphed to know if in view of his instructions he could assent
fo a Bill for registering the notes of the several banks, and
endorsing the notes with a Government guarantee of pay-
ment at a valuation reported by a joint committee of the
two Houses of the Legislature, and arranging for their
payment in due course by the Government if the funds of
the banks turned out to be inadequate. The Governor was
told that he could assent, it being understood that the
Government accepted no responsibility for the redemption
of the notes by authorizing such assent.!
The legislation of Newfoundland for 1910 included an
Act respecting currency notes which was not to come into
force until the royal approval had been given, and this
approval was duly given in due course, the currency notes
not being really a form of paper currency at all, but being
orders for money payable to men employed on public works,
or given by way of relief instead of cash, to save risks of loss
and of delay. Such notes are presented for payment to the
merchants of the capital, and are at once by them converted
nto cash.
A new departure has been taken in 1909 by the Common-
wealth of Australia. Hitherto it had been content to accept
the usual system in force in those Colonies where British
money is the legal tender. In these cases the Colony was
not responsible for the provision of silver coinages to such
extent as might be necessary : they were entitled to obtain
what coins they desired from the Treasury on paying the
face value, while the British Government remained respon-
sible for carriage, the renewal of worn-out coins and so forth,
receiving on the other hand the benefit of the profits on the
coinages.* The Commonwealth Government at the Colonial
Conference of 19073 asked that they might receive a share
- See Parl, Pap, H. C. 104, 1895, pp. 6-9.
' Per contra, the places which use non-British silver coinage have them
soined in England, but pay expenses and take profits, and are responsible
for regulating coinage ; see Chalmers, Colonial Currency ; Jenkyns, British
Rule and Jurisdiction beyond the Seas, pp. 28-30.
* Parl. Pap., Cd. 3523, Pp. 190-2, 546, 547; 3524, pp. 170-2; 5273, pp.
158-63; 5745, pp. 168, 169, 370, 371 ; 5746-1, p. 204.
