The Silver And Indian Currency Questions Treated in a Practical Manner
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If the exchange value of the rupee fell to 6d. , 7, 200 lacs of the Indian revenues would be required to raise the same sum in gold. On the other hand, if silver regained its old price of God. An ounce, only i, 800 lacs of rupees would be absorbed of the revenues of India to make its payment of 18, 000, 000 to England.
If the export and import trade of India were of equal value, the Government of India would have to ship to England annually either 1, 800 INDIAN CURRENCY QUESTIONS. 33 lacs, 3, 0...85 lacs, 4, 000 'lacs, or 7, 200 lacs of rupees, the exact sum depending upon the rate of exchange, to meet obligations due from India to England.
As a matter of fact, the annual value of the exports from India before the closing of the mints exceeded the value of the imports into India by more than 18, 000, 000. The Go- vernment of India was consequently under no necessity to ship rupees to England for conversion into 18, 000, 000 sovereigns. The exports from India being more in value than the imports by over 18, 000, 000 sterling, mer- chants in Europe required facilities to pay for this extra amount of India's produce, and which could not be covered by the imports which India absorbs from Europe.
What to read after The Silver And Indian Currency Questions Treated in a Practical Manner?
You can find similar books in the "Read Also" column, or choose other free books by Edward Monson George to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
If the exchange value of the rupee fell to 6d. , 7, 200 lacs of the Indian revenues would be required to raise the same sum in gold. On the other hand, if silver regained its old price of God. An ounce, only i, 800 lacs of rupees would be absorbed of the revenues of India to make its payment of 18, 000, 000 to England.
If the export and import trade of India were of equal value, the Government of India would have to ship to England annually either 1, 800 INDIAN CURRENCY QUESTIONS. 33 lacs, 3, 0...85 lacs, 4, 000 'lacs, or 7, 200 lacs of rupees, the exact sum depending upon the rate of exchange, to meet obligations due from India to England.
As a matter of fact, the annual value of the exports from India before the closing of the mints exceeded the value of the imports into India by more than 18, 000, 000. The Go- vernment of India was consequently under no necessity to ship rupees to England for conversion into 18, 000, 000 sovereigns. The exports from India being more in value than the imports by over 18, 000, 000 sterling, mer- chants in Europe required facilities to pay for this extra amount of India's produce, and which could not be covered by the imports which India absorbs from Europe.
What to read after The Silver And Indian Currency Questions Treated in a Practical Manner?
You can find similar books in the "Read Also" column, or choose other free books by Edward Monson George to read onlineMoreLess
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