§ Mr. R. GWYNNEasked the Secretary of State for India why the Government of India has undertaken to cash notes in rupees when no undertaking was given in this country to cash Treasury notes in sovereigns?
§ Mr. MONTAGUIn distinction from British Treasury notes, the Government of India's Currency notes are enfaced with a promise to pay on demand. It has not hitherto been judged expedient in Indian conditions, which vary widely from those obtaining here, to alter the form of the note, now of many years' standing, so as to withdraw the present legal right of encashment.168W In regard to the details of this right, I would refer my hon. Friend to the second paragraph of my reply to his question on the 14th February, 1918.