───────────────────────────────────────────────────────────────────────────── Price of Bar Gold in India Price of Silver in Index (Bombay) per Tola of 180 grs. India (Bombay) per Number for 100 Tolas. Prices in Date. India ─────────────────────────────────────────────────────────────────── Rs. A. Rs. A. 1913 = 100. ───────────────────────────────────────────────────────────────────────────── 1914 24 10 65 11 — ───────────────────────────────────────────────────────────────────────────── 1915 24 14 61 2 112 ───────────────────────────────────────────────────────────────────────────── 1916 27 2 78 10 125 ───────────────────────────────────────────────────────────────────────────── 1917 27 11 94 10 142 ───────────────────────────────────────────────────────────────────────────── 1918 (July) 34 0 (May 117 2 178 16) ───────────────────────────────────────────────────────────────────────────── 1918 (Nov. 82 10 — 28) ───────────────────────────────────────────────────────────────────────────── 1918 30 0 — — August ───────────────────────────────────────────────────────────────────────────── 1918 32 4 — — Sept. ───────────────────────────────────────────────────────────────────────────── 1919, 32 0 113 0 200 March ───────────────────────────────────────────────────────────────────────────── Thus the rise in the price of silver was a part of the general rise of prices or the depreciation of the rupee. The Committee desired to raise the gold value of the rupee to 10 rupees per sovereign when it cost twice that number of rupees to purchase a sovereign in the market. So marked was the depreciation of the rupee in terms of gold that a few months before the Committee submitted its report the _Statesman_ (a Calcutta paper) wrote:— “If you land in the country with a sovereign the Government will take it away from you and give you eleven rupees three annas in return. If you are in the country and happen to have a sovereign and take it to the currency office you will get fifteen rupees for it. On the other hand, if you take it to the bazar you will find purchasers at twenty-one rupees.”