§ MR. WEIR (Ross and Cromarty)
To ask the Secretary of State for India it he will state in what security the gold reserve of India is invested; and whether, at the present quotations, such investment shows a loss; and, if so, to what extent.
(Answered by Mr. Secretary Brodrick.) I presume that by "the gold reserve of India" is meant the special gold reserve fund to which the net profit on the coinage of rupees is transferred. The fund is invested in the following securities; Consols, National War Loan, Local Loans Stock. Transvaal Government 3 per cent. Guaranteed Stock, and Treasury Bills. The value of these securities at the present market price is in excess of the amount for which they were purchased.