HL Deb 26 June 1893 vol 14 cc1-3
VISCOUNT CROSS

My Lords, seeing my noble Friend the Lord President of the Council and Secretary of State for India in his place, I wish to ask him a question relating to a matter which is considered of the most vital importance by all who are connected with India in any way. It is understood that a Committee was formed, of which the noble and learned Lord on the Woolsack was Chairman, to consider the question of the Currency of India; that that Committee has sent in a Report which has been considered by Her Majesty's Government, and that some Despatch on the subject has gone out to the Government of India. I wish to ask the noble Earl whether the Despatch has been sent; whether an answer has been received from the Government of India; and, if so, whether he will be good enough to state it to the House?

THE LORD PRESIDENT OF THE COUNCIL AND SECRETARY OF STATE FOR INDIA (The Earl of KIMBERLEY)

My Lords, I am much obliged to the noble Viscount for asking a question on this important matter. A communication was made to the Government of India as to the Report of Lord Herschell's Committee, and a reply was received on Saturday from them on the subject upon which a determination was come to by Her Majesty's Government and by my Council. I have to-day re- ceived from the Viceroy a Despatch which I will now read to the House— Council has passed an Act, which takes effect at once, to carry out plan recommended by Lord Herschell's Committee. Act provides for closing of Indian Mints to free coinage of silver, from and after date of passing. Arrangements will be made to issue rupees from the Mints in exchange for gold and sovereigns, at the rate of 16d. per rupee, until further notice; and to receive sovereigns and half-sovereigns at the public treasuries in payment of Government dues at the same rate. It is intended to introduce a gold standard into India, but gold will not be made legal tender at present. I have laid the Report on the Table and also the Correspondence with India on the subject.

VISCOUNT CROSS

I hope the noble Earl will endeavour to forward the printing of the Papers, because there is often, in this House, great delay.

THE EARL OF KIMBERLEY

I have taken every possible step to have the Papers printed and the distribution made at the earliest possible period.