§ MR. COHEN (Islington, E.)I beg to ask the Secretary of State for India whether the Indian Government have already taken decided stops for the establishment of a gold standard in India; and whether the assent of the Secretary of State in Council and of Parliament is necessary for the introduction of a loan in sterling in London for the establishment of such gold standard?
§ THE SECRETARY OF STATE FOR INDIANO steps have been taken by the Government of India, since the closing of the Mints in 1893 to the free coinage of silver, in the direction of the establishment of a gold standard. The assent of the Secretary of State in Council and of Parliament would be necessary as a prior condition to the issue of any loan in London for the purpose of establishing a gold standard in India. It is distinctly understood that any general horrowing powers which the Secretary of State may now possess, or may hereafter obtain for railway or other cognate purposes, will not be used for thin purpose.