§ SIR JOHN LENGTo ask the Secretary of State for India if he will state what were the total imports of silver into India during the latter half of last year and the month of January in the present year, specifying the amount on Government account, and sums of silver coined or recoined and issued in the period; what net values of currency notes have been issued, on monthly average, in that period, and what is the gross total estimated now co be in circulation; the amount of the cash balances of the Indian treasuries in India and England, respectively, at the end of January; the estimated profit made by the Indian Government on coinage of silver in the period; and how that sum is allocated or placed to account.
(Answered, by Mr. Secretary Brodrick.) Imports of Silver—1st July to 31st December, 1903, £4,682,900 (viz., on Private Account, £2,707,500, on Government Account, £1,975,400). Complete figures for January, 1904, have not yet been received from India. Coinage—Silver coined 1st July to 31st December, 1903, £3,313,700 (including recoinage of old and uncurrent coin). Figures for January, 1904, have not yet been received from India. Currency notes—Gross circulation on 15th February, 1904, £23,608,672. In the seven months period mentioned in the Question there was a reduction of £731,603 in the gross circulation (a monthly average of £104,523). Cash balances on 31st January, 1904—India £9,201,300; England, £5,518,600. Estimated profit on coinage of silver—From 1st July to 31st January, £1,323,000 (this sum has been invested on behalf of the Gold Reserve Fund).
† See (4) Debates, exxv., 845.