The Problem of the Rupee, Its Origin and Its SolutionAmbedkar, B. R. (Bhimrao Ramji)
History
The Problem of the Rupee, Its Origin and Its Solution
Ambedkar, B. R. (Bhimrao Ramji)
Currency question -- India
Quite a different effect the fall had on the trade and industry of the
country. It was in a flourishing state as [pg 99] compared with the
affairs of the Government or with the trade and industry of a
gold-standard country like England. Throughout the period of falling
silver there was said to be a progressive decline relatively to
population in the employment afforded by various trades and industries
in England. The textile manufactures and the iron and coal trade were
depressed as well as the other important trades, including the hardware
manufactures of Birmingham and Sheffield, the sugar-refining of
Greenock, Liverpool, and London, the manufactures of earthenware, glass,
leather, paper, and a multitude of minor industries.¹⁸¹ The depression
in English agriculture was so widespread that the Commissioners of 1892
were “unable to point to any part of the country in which [the effects
of the depression] can be said to be entirely absent,” and this
notwithstanding the fact that the seasons since 1882 “were on the whole
satisfactory from an agricultural point of view.”¹⁸² Just the reverse
was the case with Indian trade and industry. The foreign trade of [pg
100]
¹⁸¹ Report by Dunraven, Farrer, Muntz, and Lubbock in the _Final
Report of the Royal Commission on Depression of Trade and
Industry_, par. 54, C. 4893,
¹⁸² _Final Report of the Royal Commission on Agricultural Depression
in England_, C. 8540 of 1897, par. 28,
TABLE XIV
_Imports and Exports (Both Merchandise and Treasure)_¹⁸³
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account