The Silver Question And the Gold Question
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155. It remains for us to state the conclusions at which we have arrived. While conscious of the gravity of the suggestion, we cannot, in view of the serious evils with which the Government of India may, at any time, be con- fronted if matters are left as they are, advise your Lordship to overrule the proposals for the closing of the mints and the adoption of a gold standard, which that Government, with their responsibility and deep interest in the success of the measures suggested, have submit...ted to you.
156. But we consider that the following modifications of these proposals are advisable. The closings of the mints against the free coinage of silver should be accompanied by an announcement that, though closed to the public, they will be used by Government for the coinage of rupees in exchange for gold at a ratio to be then fixed, say Is. 4d. Per rupee; and that at the Government treasuries gold will be received in satisfaction of public dues at the same ratio.
157. We do not feel ourselves able to indicate any special time or contingency when action should be taken.
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To quickly assess the difficulty of the text, read a short excerpt:
155. It remains for us to state the conclusions at which we have arrived. While conscious of the gravity of the suggestion, we cannot, in view of the serious evils with which the Government of India may, at any time, be con- fronted if matters are left as they are, advise your Lordship to overrule the proposals for the closing of the mints and the adoption of a gold standard, which that Government, with their responsibility and deep interest in the success of the measures suggested, have submit...ted to you.
156. But we consider that the following modifications of these proposals are advisable. The closings of the mints against the free coinage of silver should be accompanied by an announcement that, though closed to the public, they will be used by Government for the coinage of rupees in exchange for gold at a ratio to be then fixed, say Is. 4d. Per rupee; and that at the Government treasuries gold will be received in satisfaction of public dues at the same ratio.
157. We do not feel ourselves able to indicate any special time or contingency when action should be taken.
What to read after The Silver Question And the Gold Question?
You can find similar books in the "Read Also" column, or choose other free books by Barclay, Robert, 1648-1690 to read onlineMoreLess
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