HC Deb 02 June 1919 vol 116 cc1660-1
26. Colonel WEDGWOOD

asked the Secretary of State for India whether the proposed Commission on Indian Currency will sit in London; and whether it will contain, besides exchange bankers and merchants, representatives of the House of Commons conversant with exchange, and the experts of British manufacturers?

Mr. PRATT (Lord of the Treasury)

The Committee will sit in London. I would refer to my reply to similar questions on the 28th ultimo. The names of the members were published on Friday last.


Is the hon. Gentleman aware that none of the members of the Commission are Members of this House, and that consequently the Commission represents private interests instead of the public interest?


asked whether the terms of reference to the Indian Currency Commission debar the Commission from considering whether the legislation of 1893 closing the Indian mints to the free coinage of silver should be removed; and whether they will also be debarred from considering any possible scheme for stabilising the price of silver by international arrangement or otherwise, in view of the large requirements of India for silver and of the violent fluctuations which are continually taking place in that metal?


The policy of the legislation of 1893, whereby the mints are closed to the free coinage of silver and a gold standard has been established, are not with in the scope of the reference to the Committee. The reference will permit the Committee to consider arrangements for stabilising the price of silver that do not involve the setting up of a bimetallic standard.


If they cannot consider the silver question, will the hon. Gentleman let us know what they are talking about?


Perhaps my hon. Friend will put down another question.

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