§ SIR PATRICK O'BRIEN
asked the Under Secretary of State for India, Whether the attention of the Indian Government had been directed to the loss sustained by Members of the Indian Civil and Military Services (when transmitting money home to their families), in consequence of the depreciation of the exchangeable value of the rupee; and, whether it is contemplated to propose a gold currency for India, or to take other steps to remedy the grievance complained of?
§ LORD GEORGE HAMILTON
Sir, the attention of the Secretary of State has been drawn to the depreciation of the exchangeable value of the rupee, 261 but the rates at present allowed to members of the Civil and Military Services considerably exceed the rate at which the Secretary of State can obtain remittances from India. In fact, the grievance is not against the Indian Government, but against silver which will insist upon depreciating itself. There is no intention at present to alter the currency in India, and it would be very difficult—if not impossible, for the Secretary of State to make any further concession to these officers, as the depreciation of silver largely increases the expenditure of the Indian Government.