§ MR. EVERETT () Suffolk, WoodbridgeI beg to ask the First Lord of the Treasury whether, in view of the large demand which the proposed new monetary policy in India will create for gold, and of the consequent possible further rise in the value of that metal and proportionate further fall in the prices of commodities measured by it both here arid in the Colonies, he will give Parliament the opportunity of discussing the matter before finally establishing a gold standard in India?
§ SIR J. LUBBOCK () London UniversityI beg to ask the First Lord of the Treasury whether Her Majesty's Government propose to undertake to issue gold against rupees; if so, at what rate; and whether, having regard to the grave consequences which such a course might involve, he will give the House an opportunity of considering the question before arriving at a final determination?
§ MR. W. E. GLADSTONEI am not able to accede to the assumptions contained in the questions of the hon. Gentleman; but, apart from those assumptions, I think I may point out that the Indian Financial Statement will afford an opportunity of discussing the policy of the changes recently adopted with respect to the currency in India. It will not be possible for the Government to afford any other opportunity under present circumstances. I may say, in answer to the question of the right hon. Baronet the Member for Loudon University, that it is not at present intended to issue gold against rupees.