CURRENT NOTES Nearly nine months having elapsed since the last Currer?t Notes w(re written, we have the opportunity of reviewing what has proved ? be a striking period in the history of the ?nance and currency of India. The outstanding features are the success of the War Loan; growth of military expenditure on account of the British Government; an enormous absorption of silver by the population at large; the 'startling 'rise of the price of silver, leading to the raising of exchange to ls. 5d.--a figare which has not been t,uched for the quarter of a century--and ?o the Ordinances whereby of gold rupee notes on December 1st, which is already assured. Government compulsorily acquires all imports or silver; and finally. the issue of the one 1917, the increase of As a result of energetic canvassing for the Loan, and of special provident fund schemes sweep-stakes in addition to the subscriptions to the War erores on 81s? July. subscriptions which War and the ordinary investment, Loan amounted to 38 The Post Office section received by 10th October amounted to
Page:Indian Journal of Economics Volume 2.djvu/113
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