Unless the London Money Market has collapsed as well as the Indian, it is always open to the Secretary of State to borrow by means of India Bills. The available evidence does not suggest that the average rate in India is at all unduly high for a country in India’s stage of economic and financial development. We know that it is hoarded, used as jewellery, as gilding, even (according to Messrs.
Those who have passed the chair–that is, who have served the office of Governor–always remain. The British Treasury, however, has again come to the rescue. But when towards the end of their busy season the Egyptian banks find themselves with more gold than they need, Council Bills must be sold at a relatively low rate if the flow of this gold to India is to be prevented. │ N. We know that it is hoarded, used as jewellery, as gilding, even (according to Messrs. The public is never sure what policy will be adopted at the most important moment: it is not sure what amount of advance will be made, or on what security it will be made.