The Mysore Economic Journal. A Monthly Periodical devoted to the Discussion of all Economic Topics of Interest. November 1938

The repeal of the cotton excise duty was followed by the appointment of a special tariff board in June 1926 to inquire into the position of the Indian Cotton Textile Industry and to examine the causes for the severe depression through which it was then passing and to consider whether it stood in need of protection!' The Report of the Board was published in June 1927. [...] The purpose of incorporating the Reserve Bank has been stated in the Preamble to the Act to be the regulation of the issue of bank notes and the keeping of reserves so as to secure monetary stability in British India and to operate the currency and credit system of the country to its best advantage. [...] The fact is that the Bank is not a limb of the Government of the State and as the.Administration has made over vast sums of money to the Bank it has been found essential to provide for control by the Governor-General so that the Bank functions effectively and well to the best interests of the country as requied in the Preamble to the Act. [...] The members chosen for the Board should be the very best persons available in the Province--people with wide knowledge of the prevailing conditions in both urban and rural areas of the resources that are available and the practical difficuties that must be faced in the administrtion and execution of the programme. [...] The markets for the rice crop.—In the early days of the trade the bulk of the rice went to the United Kingdom and to Europe and this continued up to the end of the nineteenth century and even up to the War though India's imports showed a steady tendency to increase.