§ Sir GEORGE SCOTT ROBERTSONasked the Under-Secretary for India whether he can give any estimate of the amount of gold absorbed in India during the financial year 1912–13; what was the absorption of silver and notes during the same period; what proportion did the absorption of gold bear to the other two denominations of currency; and whether he can say how much gold was absorbed by Bombay, Madras, the Punjab, the United Provinces, and Burma, respectively?
Mr. ROBERTSAbsorption of gold coin in India during the financial year 1912–13:—
£ (1) After passing through Government Treasuries and Reserves 10,245,000 (2) Without so passing 856,000 Total 11,101,000 Absorption of silver coin during the same period:—
Rs. 1,049 lakhs (£6,993,000).
Absorption of notes:—
Rs. 7 lakhs (£46,700).
Ratio borne by the absorption of gold to that of the other two denominations of currency, approximately, 11 to 7.
Amounts of gold coin (under head (1) above) absorbed by the provinces named:
£ Bombay … … 1,658,000 Madras … … 1,571,000 Punjab … … 3,372,000 United Provinces … … 1,616,000 Burma … … 814,000
§ Mr. RUPERT GWYNNEasked what purchases of silver were made for the Government of India during 1913, from whom the purchases were made, the dates at which the purchases were made, and the price paid on each occasion?
Mr. ROBERTSSilver of the total value of £5,500,000 was bought for the Govern- 571W ment of India during the calendar year 1913. Of this £1,000,000 was bought in the financial year 1912–13, and £4,500,000 in 1913–14. The sums paid for these purchases, including freight and all other charges, were £1,008,702 and £4,528,000, respectively. The purchases were made through the Bank of England, the choice of brokers and source of purchase being left to the discretion of that institution. The dates of purchase, and prices paid, were as follows:—
Date. Bar Silver purchased. Amount. Price per ounce. 1913. £ £ d. January 1 … 20,000 29¼ January 2 … 50,000 29 5/16 January 3 … 130,000 — January 6 … 35,000 — January 7 … 75,000 29⅜ January 7 … 475,000 29½ January 9 … 25,000 29 5/16 January 11 … 40,000 — January 13 … 25,000 29¼ January 14 … 20,000 29 1/16 January 16 … 20,000 29 1/16 January 17 … 20,000 29 January 20 … 30,000 29 1/16 January 21 … 35,000 29 1/16 August 28 … 20,000 27½ August 29 … 30,000 — August 30 … 50,000 70,000 — 20,000 — Sept 1 … 35,000 — Sept 2 … 40,000 27 9/16 Sept 11 … 100,000 200,000 27⅞ 100,000 — Sept 15 … 100,000 200,000 27⅞ 100,000 Sept 19 … 200,000 2,075,000 28¾ 75,000 28⅜ Sept 22 … 100,000 1,085,000 28⅞ 85,000 28⅝ Oct. 16 … 25,000 28¼ Oct. 17 … 50,000 — Oct. 21 … 200,000 400,000 28¼ 100,000 100,000 28 3/16 Oct. 24 … 270,000 27 13/16 £5,500,000