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Royal Commission on Indian Currency and Finance. Appendices to the Report of the Royal Commission on Indian Currency and Finance

1926

Government of India and in their respective powers and duties account has to be taken in estimating the present character in practice of these relations powers and duties of the general bearing of other provisions of the Government of India Act which were inserted in it by the Act of 1919 and of the policy underlying the latter Act. [...] The general aim of the Act of 1919 as set out in the Preamble was the gradual development by successive stages of self-governing institutions with a view to the progressive realisation of responsible government in British India as an integral part of the Empire." One of the steps taken by the Act of 1919 towards the realisation of this object was the creation in association with the Central [...] The difficulty of reducing to rule of thumb the regulation of the relations between the Indian Legislatüre the Government oIndia and the Secretary of State without at the same time impairing or destroying the legal responsibility which still exists on the part of Parliament for the good."APPENDIX 68. [...] 1. The main facts of the Indian currency system as it existed before the war and the dislocation of the system arising out of the war are described in the Report of the Indian Exchange and Currency Committee 1919 (the Babington-Smith Committee).* In order to bring the record up to date it is proposed to review the main develoments of Indian currency policy since the date when this Report was [...] increase in the Security portion of the reserve by the creation of ad hoc Indian Government securities to compensate for the decline in the rupee valuation of the gold and sterling assets entailed by the change of ratio.
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Royal Commission on Indian Currency and Finance
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