HC Deb 03 March 1902 vol 104 cc169-70

I beg to ask the Secretary of State for India whether he will state the value of the gold remitted from India on Government account since the end of September last, including the consignment now expected, and what is the special purpose for which the latter is intended. What is the amount of gold retained as part of the currency reserves, and in the reserves of the Government of India respectively; how much in sovereigns has been paid out from both these reserves in exchange for fifteen rupees; what number of rupees has been coined or issued by the Mint during the same period. What were the cash balances of the Government of India here and in India at the close of last month, and what has been the average of advances per month from the Indian cash balances here to the money market in the four months ending with January last. And will he give the amount in sterling received during the present financial year up to this time in payment for council bills and telegraphic transfers.


(1) The value of the gold remitted from India on account of Govern-merit since the end of September, 1901, is £500,000. (2) No further consignment of gold is now expected; the last consignment has been invested on account of the gold reserve fund. (3) On the 22nd of February, 1902, the amount of gold in the currency reserve was £4,644,000. (4) And in the Treasuries of the Government of India £54,000, besides £1,939,000 ill the gold reserve fund. (5) The number of sovereigns altogether paid out in exchange for rupees, is £9,290,496, of which it is estimated that about £4,000,000 are in circulation. (6) The minder of rupees coined, was in 1899–1900, 13,018,078, and in 1900–1901, 171,479,318; from April to December, 1901, the value of the silver received and coined in the Mints was Rs. 88,468,811, of which nearly half was for the coinage of British dollars, and the remainder included fractional coins, as well as rupees issued to replace old coins called in. (7) On the 31st of January, the cash balances in India were about 1,372 lakhs of rupees, and in England £4,004,088. (8) The average amount lent per month from the cash balance in London from October to January inclusive, was approximately £2,975,000. (9) The sterling amount to be received in 1901£1902, from the sale of hills and telegraphic transfers on India, to the 1st of March, is £16,460,358.