Parliamentary Papers Volume 65

Parliamentary Papers Volume 65

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1894 edition. Excerpt: ...of State for India. Resolution passed by the Committee of the Bombay Branch of the Indian Currency Association at a Meeting held yesterday, the 6th January 1893. " As it seems certain that the deliberations of the International Monetary Conference will end without any practical result being arrived at, and that, in consequence, as the statements of the American delegates leave no room to doubt, America will shortly suspend State purchases of silver, the gold price of that metal must necessarily continue to fall. The Secretary of State for India should, therefore, be urged by Government to sanction the immediate closing of the mints against the free coinage of silver, reserving that privilege for Government ale me. and to refuse the sale of Council bills under a certain fixed rate. " Unless these protective measures be speedily adopted, it is anticipated that the Government of India will soon be involved in deeper financial troubles, that the present disorganised condition of trade will be intensely aggravated, and the financial and commercial relations with gold-using countries reduced to absolute confusion. " This branch of the Indian Currency Association is distinctly of opinion that no insurmountable difficulty can arise from the immediate closing of the mints to the public, and that to do so is the only rational remedy for the present ruinous position. The longer this action is delayed, the greater the difficulties that will arise. Already the abnormally large shipments of silver in transit to India, and the large contracts reported to have been made in London for the delivery of silver some months forward at rates considerably under the existing market rate, unmistakably indicate that practical authoritative opinion...
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Product details

  • Paperback | 532 pages
  • 189 x 246 x 27mm | 939g
  • United States
  • English
  • black & white illustrations
  • 1236835964
  • 9781236835963