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How to Fix Sterling Exchange; A Well-Tried, Safe and Economical Method

How to Fix Sterling Exchange; A Well-Tried, Safe and Economical Method


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About the Book

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1898. Excerpt: ... A WELL-TRIED, SAFE & ECONOMICAL METHOD OF FIXING STERLING EXCHANGE: A PROPOSAL To establish in India a Gold Standard without a Gold Currency by making the rupee currency expand and contract automatically with the aid of a Sterling Conversion Fund located in London; a plan followed by Scotland with signal success for half a century, and recommended for adoption in Ireland by Pitt and Fox. Plan for establishing in India a Gold Standard without a Gold Currency. FIVE TO TEN MILLIONS STERLING should be raised in London by a long-term loan (say 15 years' currency), and should be deposited in the India Office or the Bank of England. The fund might be styled the Gold Standard Reserve, and the office dealing with it might be called the London Gold Standard Office. 2. It should be announced that the London Gold Standard Office will be prepared to sell to all applicants rupee drafts for sums of Rs. 15,000 and upwards in exchange for sterling money at the rate of Is. 4rd. per rupee. These drafts should be drawn on two offices, to be opened either in the Indian Mints or in the Calcutta and Bombay Presidency Paper Currency Offices. These offices might be styled the Indian Gold Standard Offices. The drafts should be made payable on demand whenever there are rupees available in the Indian Gold Standard Office, or if the provisions of the Gold Note Bill (Act No. I of 1898) can be incorporated in this scheme. If not, and if there are no rupees available in the Indian Gold Standard Office at the time, the drafts should be drawn at a currency affording time for coinage in India of silver bullion purchased in London with the sterling money. This currency might be shortened were the Paper Currency Department authorised, as formerly, to issue notes against the silver bullion on...


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Product Details
  • ISBN-13: 9781151511379
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 44
  • Spine Width: 2 mm
  • Width: 189 mm
  • ISBN-10: 1151511374
  • Publisher Date: 05 Feb 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 95 gr


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