Indian Currency And Finance
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The Home Charges, that is, the payments which the Government of India must make in England, for interest on debt, pensions, payments to the War Office, Government stores (not chargeable to capital), etc., amount to £19,000,000 or £20,000,000 annually.
But the amount which it is necessary to remit, apart from extraordinary remittances to be dealt with later, is usually less than this ; for the amount of new capital raised by Government in England usually exceeds their capital expenditure in this... country on repayments and on railway materials, etc. Thus the amount which it is necessary to remit to England annually is from CHAP. V COUNCIL BILLS AND REMITTANCE 103 £15,000,000 to £18,000,000. Eupees to this amount, being part of the revenue from taxation, etc., ac- cumulate in the Indian Treasuries. This value is' remitted to England by selling for sterling in London !
bills which can be cashed in rupees in Calcutta, j Thus the Government of India pays out rupees in Calcutta when the bUls are presented, and the Secretary of State's balances at the Bank of England are swelled by a corresponding amount.
What to read after Indian Currency And Finance?
You can find similar books in the "Read Also" column, or choose other free books by Keynes John Maynard to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The Home Charges, that is, the payments which the Government of India must make in England, for interest on debt, pensions, payments to the War Office, Government stores (not chargeable to capital), etc., amount to £19,000,000 or £20,000,000 annually.
But the amount which it is necessary to remit, apart from extraordinary remittances to be dealt with later, is usually less than this ; for the amount of new capital raised by Government in England usually exceeds their capital expenditure in this... country on repayments and on railway materials, etc. Thus the amount which it is necessary to remit to England annually is from CHAP. V COUNCIL BILLS AND REMITTANCE 103 £15,000,000 to £18,000,000. Eupees to this amount, being part of the revenue from taxation, etc., ac- cumulate in the Indian Treasuries. This value is' remitted to England by selling for sterling in London !
bills which can be cashed in rupees in Calcutta, j Thus the Government of India pays out rupees in Calcutta when the bUls are presented, and the Secretary of State's balances at the Bank of England are swelled by a corresponding amount.
What to read after Indian Currency And Finance?
You can find similar books in the "Read Also" column, or choose other free books by Keynes John Maynard to read onlineMoreLess
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