§ 10. Mr. R. GWYNNEasked what is the ultimate aim of the India Office in regard to the Indian currency system; and what effective measures are being taken to reach the same?
§ Mr. C. ROBERTSThe chief aim is the maintenance of the exchange value of the rupee at 1s. 4d.; the chief measures are the provision of a gold standard reserve and other sterling reserves and the regulation of the coinage of rupees and of the sales of drafts between England and India.
§ 11. Mr. R. GWYNNEasked whether, having regard to the fact that the Fowler Currency Committee recommended in its Report of the 7th July, 1899, that the Indian currency system should be a gold standard based on gold currency, he will say if this recommendation was accepted by the Indian Council and the Government of India?
§ Mr. C. ROBERTSIt would be more correct to describe the system favoured by the Committee of 1899 as a gold standard accompanied by, than as one based on, a gold currency. Their recommendations were generally accepted by the Government of the time.