It is stated that the Silver policy to be adopted
by the Indian Government on the recommendation of the Herschell Commission will be made public next week, and rupee paper is rising fast. According to the belief on 'Change, the Government intend to close the Mints to the coinage of silver, and to "fix the value of the rupee at is. 4d.,"—a state- ment we hardly understand. Refusing to coin, of course, will increase the value of the rupee at the expense of the hoarders of silver ; but how the value is to be "fixed," we cannot imagine. The Government can pay pensions, and so on, at that rate if they please ; but if they can "make" the rupee worth is. 4d., they can make it worth 2s. We suppose the Mints will be closed until silver rises to is. 4d.; but more in- formation is still required. The odd thing is that the rumours have not depreciated silver, which, if they are true, has lost its strongest single buyer.
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