§ SIR EDWARD SASSOON (Hythe)
To ask the Secretary of State for India if he will state the amount of silver rupees coined during 1906 on which the seignorage profit of £4,000,000 sterling was realised; and the average price per ounce at which the metal was purchased.
(Answered by Mr. Secretary Morley.) In the financial year 1906–7 (in which a net profit of £4,000,000 was realised on the coinage of rupees) the number of rupees coined, excluding the recoinage of old rupees, was 227,670,000 (i.e., 22 crores 76¾lakhs=£15,180,000). The aver age price per ounce at which silver was purchased during the year was 31.332 pence.