§ Mr. RUPERT GWYNNEasked the Under-Secretary of State for India the amount of the cash balances of the Government of India held in England during the years 1905, 1906, 1907, 1908, 1909, 1910, 1911, and 1912, respectively?
723W
§ Mr. H. BAKERThe, cash balances of the Government of India held in England on 31st March in each of the years named in the question were as follows:—
1905 … … … £10,262,581 1906 … … … 8,436,519 1907 … … … 5,606,812 1908 … … … 4,607,266 1909 … … … 7,983,898 1910 … … … 12,799,091 1911 … … … 16,696,990 1912 … … … 18,390,013 The balance on the evening of 30th October last was £9,229,797. The amounts do not include sums held on account of the Gold Standard Reserve.
§ Mr. RUPERT GWYNNEasked the Under-Secretary of State for India the amount of depreciation, shown by market prices taken at the most recent convenient date, as compared with the original cost, on the securities held in the gold standard reserve?
§ Mr. H. BAKERAccording to the last valuation, which was made on 16th October, 1912, the selling prices of the securities held in the Gold Standard Reserve showed a depreciation of £1,064,824, as compared with their original cost.724W Against this loss, however, there has to be set a net gain of £3,079,966 from interest and dividends on the investment of the Reserve. Thus there has been a balance of profit, from the policy of investing the Reserve, as against the alternative course of holding it in gold, amounting to slightly over £2,000,000.