§ MR. J. K. CROSSasked Mr. Chancellor of the Exchequer, Whether his attention had been called to a paragraph which appeared in the "Times" telegraphic summary of the Indian Budget, dated Calcutta the 13th of March, and which states that—
No increase of taxation is proposed, because the change in the relative value of Gold and Silver, which alone has disturbed the satisfactory financial condition of India, is under the consideration of the Home Government upon the motion of the Indian Government;and, whether Her Majesty's Government have at present under consideration any plan by which they hope to establish a monetary standard of value which shall be common alike to India and England?
§ THE CHANCELLOR OF THE EXCHEQUERSir, the Government have received a despatch from India containing proposals bearing upon the condition of the exchange, which so seriously affects Indian finance, and, as the question does not affect India alone, have referred it to a small Departmental Committee. The time necessary for a careful examination of so large a subject 1155 precluded the possibility of any action prior to the Indian Budget. Should any change of importance be proposed, the House has been informed before that it will have an opportunity of discussing it.
§ MR. CHILDERSwished to know, with reference to the statement of the Chancellor of the Exchequer, on the subject, Whether, if any proposal was made by the Departmental Committee, there would be an opportunity of discussing it before it came into operation?
§ THE CHANCELLOR OF THE EXCHEQUERYes. I hope, if any proposal is made, it will be long before the end of the Session; but, undoubtedly, the House will have an opportunity of considering any change that may be proposed before it comes into effect.
§ MR. FAWCETTsaid, he wished to ask a Question on the same subject. Last April, when the subject was before the House, the right hon. Gentleman then said that Parliament should have the opportunity of considering any proposed change if it was introduced when Parliament was sitting; but he did not give any promise as to what should be done if Parliament was not sitting. He wished to know, If the answer now given by the Chancellor of the Exchequer would apply to a proposal made when Parliament was not sitting?
§ THE CHANCELLOR OF THE EXCHEQUERI gave that answer deliberately, and it is not my intention to alter it now. What would be done if a proposal was made when Parliament was not sitting would have to be considered; but I hope that, if any proposal is made, it will be made before the end of the Session; and, in that case, it will undoubtedly be brought before the House in time for due consideration to be given to so important a matter before anything final is done.