§ 9. Sir GEORGE SCOTT ROBERTSONasked the Under-Secretary for India whether the policy of the Government of India at present is to retard the flow of sovereigns to India and their consequent accumulation in the paper currency reserve; and is it with this object that Council Bills were sold last year for a lower price than at any period since June, 1911?
§ Mr. C. ROBERTSThe answer to both parts of the question is in the negative.
§ 10. Sir G. SCOTT ROBERTSONasked the Under-Secretary for India whether he has any information concerning the hoarding of gold in India or relating to any increase or decrease in the practice of melting sovereigns in order to make ornaments, particularly in the Punjab?
§ Mr. C. ROBERTSOn a subject of this nature precise information is necessarily difficult to obtain, but many observations and opinions are collected in the annual reports of the Indian Currency Department, to which I would refer my hon. Friend.
§ Sir G. SCOTT ROBERTSONIs there any evidence to show that sovereigns qua sovereigns are hoarded at all in India?
§ Mr. C. ROBERTSIt is rather difficult to summarise, but I think the opinions go to show that they are being hoarded on a diminishing scale.
§ 11. Sir G. SCOTT ROBERTSONasked the Under-Secretary for India whether he can give the net profit obtained by the 1781 Calcutta and Bombay mints during the current year on the coinage of nickel and bronze coins for circulation in India, also on British dollar, ten-cent, and five-cent pieces for the Singapore Government, and silver and copper coins for other places outside of India; and if these profits are added to the general revenue of the Government of India or ear-marked for any special purpose?
§ Mr. C. ROBERTSThe Budget estimate of total net profits of the Indian mints for 1911–15 is £145,500. I cannot say what portions are estimated to be obtained, respectively, from the various coins mentioned. The whole is credited to general revenues.