cover image: The Burma Gazette  Rangoon  Saturday  January 8th  1921

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The Burma Gazette Rangoon Saturday January 8th 1921

1920

The effect of this deficit was to enhance the strain already put upon the financial and currency mechanism of the country by the large measure of assistance given to the export trade during the early months of the year. [...] Accordingly in May 1919 a Committee to advise on Indian exchange and currency was appointed the terms of reference running to examine the effect of the war on the Indian exchange and currency system and practice and upon the position of the Indian note issue and to consider whether in the light of this experience and of possible future variations in the price of silver modifications of system [...] This demand was a result mainly of the reduction of the stocks of silver held in China during the early years of the war and the eventual turning of the balance of trade in China's favour brought about by the export of commodities accumulated during the war. [...] The depreciation of sterling in the currency of the principal suppliers of the world's silver necessarily had the effect of raising the London price of silver and herein lies the explanation of the more rapid enhancement of the price of silver in London than in New York. [...] As explained elsewhere these alterations of the rate were dictated by the rise in the price of silver and the necessity for securing the possibility of retransferring to India the sale proceeds of Council Bills in the form of silver without incurring a heavy loss on coinage With effect from the sale on the 23rd September the restriction on the sale of councils to certain approved firms and insti
government politics public policy
Pages
58
Published in
India
SARF Document ID
sarf.100008
Segment Pages Author Actions
The Burma Gazette Rangoon Saturday January 8th 1921
1-58 unknown view