§ SIR J. LUBBOCK (London University)I beg to ask the Under Secretary of State for India whether it was proposed to make any change in the existing law under which rupees are legal tender to any extent; and, inasmuch as the Prime Minister had announced that the Government did not at present intend to undertake to give gold for rupees, in what sense they were about to introduce a gold standard in India?
§ * THE UNDER SECRETARY OF STATE FOR INDIA (Mr. G. RUSSELL,) North Beds.(1.) I think my right hon. Friend will see that the auxiliary verb in the first line of his question is in the past, and should be in the present 997 tense. Assuming "was" to mean "is," the answer is "No." (2.) Persons who like to tender gold to the Government in exchange for or in place of rupees may do so at a rate of 16d. to the rupee. To that extent it might he said that the gold standard has been already introduced into India. As to the steps to be taken in the future, I may refer my right hon. Friend to the Papers which have been presented, and more especially to the Memorandum and speech of Sir David Barbour.