HC Deb 09 March 1910 vol 14 c1475
Mr. STEWART

asked whether the lower price of silver brought about by the new duty, entails increased precaution against the illicit coinage of rupees?

Mr. MONTAGU

It is not anticipated that the duty will lower the price of silver outside India to such an extent as to stimulate in any material degree the illicit coinage of rupees for importation into India. The duty cannot, therefore, operate as an incentive to illicit coinage in India.

Mr. STEWART

asked what revenue has the Indian Government derived from opium exported to China during the last 10 years; and what annual revenue is estimated from the new duty on silver?

Mr. MONTAGU

The average net revenue from opium exported from India beyond seas for the ten years ending 1909, when the arrangement with China began to operate, was £3,274,634 a year. Approximately two-thirds of this was derived from the trade with China. The net additional revenue from the new duty on silver is estimated at £366,000 in 1910–11.

Mr. STEWART

In view of the present unsatisfactory condition of British trade in China, may I ask if the Indian Government in future will extend some consideration to the currency of a country out of which they have derived such enormous revenues in the past?

Mr. MONTAGU

The Government of India does not expect that this duty will affect the export trade.