§ Mr. TOUCHEasked the Under-Secretary of State for India if he will state the average rate of interest received during the year to 31st March, 1912, on the balances in England lent out to approved borrowers against security, and on deposits with banks without security, respectively?
§ Mr. MONTAGUThe average rates of interest received during the year to 31st March, 1912, on the balances in England lent to approved borrowers against securities and on deposits with banks were approximately 2.6 per cent, and 2.43 per cent, respectively.
§ Mr. TOUCHEasked the amount of sterling securities belonging to the Gold Standard Reserve sold between 1st October, 1907, and 31st August, 1908, and the difference between cost price and the amount realised?
§ Mr. MONTAGUThe nominal value of the securities referred to was £7,625,498. The amount realised was less than the cost price by £65,565.
§ Mr. TOUCHEasked the value on a gold basis of the rupee portion, £12,053,333, of the gold standard reserve in October, 1908, when the sterling portion reached the lowest figure, namely, £5,966,724 at market value; and how many rupees did the sum of £12,053,333 represent?
§ Mr. MONTAGUIn October, 1908, the rupees held in the gold standard reserve amounted to 1,808 lakhs. Their value on a gold basis, taking the rupee at 1s. 4d., was £12,053,333, the figure stated by the hon. Member. Taking the rate of exchange at 1s. 3 29–32d., the lowest rate at which the Secretary of State's bills were sold in the month in question, the value of the rupees was JE11,982,708.