§ 1. Colonel WEDGWOOD
asked the Secretary of State for India if he can now make a statement as to the Government's policy with reference to the proposal to devalue the rupee to is. 4d.?
§ The SECRETARY of STATE for INDIA (Sir Samuel Hoare)
The Government policy has in no way altered. That policy is to maintain the link with sterling at the rate that has prevailed since the Currency Act was passed by the Indian Legislature in 1927.
§ Colonel WEDGWOOD
Is the right hon. Gentleman aware that, in the Dominions of Australia and Canada, considerable depreciation has been allowed, and will he bear in mind the desirability of preserving uniformity of sterling throughout the Empire, if necessary by depreciating our own pound sterling?