HC Deb 27 November 1933 vol 283 c484
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?

Sir S. HOARE

I have nothing to add to the answer that I have just given.

Colonel WEDGWOOD

Is the purchase of reverse Council Drafts still being carried out?

Sir S. HOARE

That is a totally different question.

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