§ MR. HOYLE (Lancashire, S.E., Heywood)
asked the Under Secretary of State for India, If the Estimates of the Indian Bridget are likely to be seriously disturbed by the rates at which the Secretary of State is now disposing of bills and transfers: and, if so, what would be the amount of the further deficit for the year at the present rate of exchange?
§ THE UNDER SECRETARY OF STATE FOR FOREIGN AFFAIRS (Sir JAMES FERGUSSON) (Manchester, N.E.)
(who replied) said: The average rate for 1887–8 was 16.898d. per rupee; the Budget rate is 16.9d.; and last week's rate 16.4d. It is, however, impossible to judge from the sale of bills for a single week what will be the average rate of exchange for the year, and whether the Estimates will be seriously disturbed.