3 OCTOBER 1931, Page 2

Indian Finance and Currency Our undertaking, given last June, to

uphold the solvency of 'India remains unaffected by our departure froM the gold standard. Sir George Sehiister, the Finance Member of the Indian Government, has made it Clear, however, that the obligation is reciprocal. The Indian Government, in order to protect the sterling ex- change, has had to impose a strict control on sales of gold or sterling. This has occasioned an outcry from the Bombay financiers who had hoped -to sPeculate, in accordance with Oriental practice, in the exchange market. On Saturday the Legislative Assembly at Simla, by sixty-four votes to forty, censured the Govern- ment's policy, partly because it had been adopted- in haste to meet a sudden emergency, and partly no doubt Out of deference to Bombay native opinion. * _ _* * - *