The Eastern Economist January 13 1950

Is the Pound Sterling the master currency of the Commonwealth and the Sterling area to be treated as the domestic affair of the small minority of the Commonwealth that cccpies the United Kingdom and is determined whatever happens elsewhere on the Welfare State? [...] 380 of the Constitution has left the decision entirely to the Constituent Assembly of India and with the Congress Party in supreme power at the Centre the nonlinee of the party becomes ipso facto entitled to the office and the sense of the party about the probable cadidate alone counts to determine the choice. [...] It has been only a little better than the manner in which the Governor-General was appointed by the Crown since Independence on the advice of the Indian Cabinet; the ultimate arbiters in the present case have been not the Prime Minister and his fellow Ministers but the mebers of the Constituent Assembly. [...] The main factor that might have weighed in the indication of any preference btween the two leaders—it is difficult to term them cotestants or candidates in the absence of any desire on the part of either to contest with the other—was the fact that the present GovernoGeneral had acquireg some experience of the duties of his office particularly in reltion to the embassies here. [...] THE EASTERN ECONOMIST 49 THE WEEK'S NOTES BALANCE OF PAYMENTS DATA The publication recently by the Reserve Bank of India of Balance of Payments statistics for the period 1st of July 1948 to the 30th June 1949 recalls the vast improvement that has taken place in the last year rgarding the collation and presentation of these data.