6d.
eventually.
A rise to 1s.6d.would give the Exchequer a gain on home remittances of L4,500,000 and entail on the people a loss L21,000,000, equal to a tax of 21 per cent.

on the exports of India.

Effects of this on the producers.
The producers of coffee in Mysore alone would lose L56,000 a year were exchange forced up to 1s.4d., and L156,000 a year were it raised to 1s.6d.All producers in other parts of India of articles of export would be similarly affected.
If the rupee is artificially forced up by the State, the shock to confidence will repel capital and injure credit.

The first effect will show itself in a lessened demand for labour.
The effects of increased employment on the finances.

The bearing of the measure on famines and scarcity.