§ MR. LABOUCHERE (Northampton)I beg to ask the Under Secretary of State for India why the rate of exchange for the rupee was paid on 1st April for the ensuing five months in respect to payments to those belonging to the Home Establishment in India at 1s. 6½d., when the market value was not more than 1s. 5¼d.?
§ THE UNDER SECRETARY OF STATE FOR INDIA (Sir J. GORST,) ChathamIn reply to the question of the hon. Member, I have to say that the Secretary of State, notwithstanding the assistance of his financial advisers, has been unable to understand the meaning of the hon. Member's question. But perhaps it may possibly be sufficiently answered by reminding the hon. Member that a rate is fixed for all transactions for the ensuing year, irrespective of the fluctuations of the market. The fixed rate for 1891–2 is 1s. 6½d.
§ MR. LABOUCHEREI think the right hon. Gentleman has scarcely done justice to the noble Lord the Secretary of State, who must have perfectly well understood my question.