"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. [Sidenote: DISSENT FROM REPORT OF COMMISSION] "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, viz.:-- "1. Free coinage of both metals into legal tender money. "2. The fixing of a ratio at which the coins of either metal shall be available for the payment of all debts at the option of the debtor. "We submit, therefore, that the chief commercial nations of the world, such as the United States, Germany, and the states forming the Latin Union, should, in the first place, be consulted as to their readiness to join with the United Kingdom in a conference, at which India and any of the British colonies which may desire to attend shall be represented, with a view to arrive, if possible, at a common agreement on the basis above indicated."