§ 37. Colonel WEDGWOODasked the Secretary of State for India whether he is prepared to re-open the question of rupee-sterling parity under present circumstances?
§ The SECRETARY of STATE for INDIA (Sir Samuel Hoare)Since the right hon. and gallant Member put down his question, the decision to suspend gold payments in this country has been announced. In the circumstances, the Government gave immediate consideration to the policy to be adopted in regard to the rupee exchange, and, as I stated at the Round Table Conference yesterday, it has been decided to maintain the rate of 1s. 6d. sterling.
§ Colonel WEDGWOODCould I have the right hon. Gentleman's assurance that the cost of pegging the rupee to sterling by purchase of what I think are called reversed Council Bills will not fall upon the taxpayers of this country?
§ Sir S. HOAREI would ask the right hon. and gallant Member to give me notice of that question.