§ Sir EDWARD SASSOON
asked the Under-Secretary for India if the proposed duty of 4d. per ounce on silver bars imported into India would restrict local consumption there; and whether, looking to the probable consequences to the cotton mili industry in Western India, the Secretary of Statè will consider the justice of taking such steps in the way either of raising the import duty on Lancashire goods, or of abolishing the countervailing Excise duty, so as to neutralise the effect of this new impost on the indigenous industry?
§ Mr. MONTAGU:
The Secretary of State is unable to predict to what extent the increased duty will restrict the importation of silver into India on private account, but the Government of India do not anticipate any serious diminution. So far, 158W the effect of the Indian duty on the price of silver, which is governed by much more powerful causes and considerations, has been extremely small. A fall in the China exchange affects the Lancashire as well as the Bombay industry. The Secretary of State, therefore, sees no reason to adopt the hon. Member's suggestion.