CHAPTER XIX .-- THE INDIAN SILVER QUESTION.
On June 26th, 1893, gold standard introduced and mints closed to free coinage of silver.
Movement originated in India by the servants of Government, and from no other class whatever.
Some merchants afterwards joined in the agitation.

Gold to be received at the mints at a ratio of 1s.4d.per rupee.
Sovereigns in payment of sums due to Government to be received at the rate of fifteen rupees a sovereign.
Cash effects of the measure.

For benefit of English reader figures given in pounds sterling, a rupee taken at 2s.

Rupee prices little changed in India, China and Ceylon.

Difficulty of forming exact estimates as to this.
If gold value of silver can be forced up from 1s.3d.to 1s.
4d., Indian Government will gain about one and a half million sterling on its home remittances, and the people lose about seven millions on their exports.
The Indian Finance Minister contemplates a rise to 1s.