§ SIR JOHN LENG (Dundee)I beg to ask the Secretary of State for India whether he can state what amount of gold is now held by, or on behalf of, the Indian Government, as compared with the £9,400,000 held in April of last year; how much of this metal is now held as reserve against currency notes; up to the close of last month what has been the net export from, or import into, India of gold since April last; what are the corresponding net values of silver as shown in the Indian Trade Returns; how much or what proportion of these net imports or exports of treasure have been on Government account; and what are the present amounts of the Indian Government's cash balances here and in India respectively.
§ THE SECRETARY OF STATE FOR INDIA (Lord G. HAMILTON, Middlesex, Ealing)The amount of gold held by the Government on the 31st of March, 1901, was £7,115,047. Gold to the value of £5,708,487 was on the 22nd of April held as reserve against currency notes. In 1900–1 there was a total net import of gold, £561,423; and of silver, £6,337,788. The transactions on account of Government included in the foregoing figures were a net export of gold, £4,482,242, and a net import of silver, £5,389,051. The cash balances an the 31st of March, 1901, were, in England, £4,090,660; and in India about £10,650,000.
§ SIR JOHN LENGI beg to ask the Secretary of State for India whether he can state what amount of silver in rupees has been coined and issued in India up to the end of March since April, 1900; and what sum, if any, as representing profit on such coinage, has been credited to current revenue; what amount of gold coin has been paid out in the same period from the Treasuries or Currency Department on tender by the public at the rate of fifteen rupees in silver or currency notes; what is the total sum of currency notes now in circulation; and can some general average statement be presented showing the rise or fall at the up-country markets in prices of seeds, jute, and other non-edible export products since the beginning of 1897.
§ LORD G. HAMILTONThe number of rupees coined in India during the official year 1900–1 is 171,479,318. The gross profit on this coinage is £3,150,000, and the net profit£3,030,000. The whole of this sum is in the accounts credited to revenue, a corresponding amount being debited to expenditure as transferred to the Gold Reserve Fund, so that the balance is unaffected. The amount of gold coin which has been issued to the public in the same period is £6,374,880, of which about half is estimated to be still in their hands. The value of currency notes in circulation on the 31st of March. 1901, was Rs. 29.86.59.000 (29 crores, 86 lakhs, 59 thousand). The statistics available in this country as to prices do not show the rise or fall in respect of non-edible export products in up-country markets.