Sir Charles Wood has resolved to admit gold as quasi
currency into India in a very odd way. He told the House in answer to a speech from Mr. .1. B. Smith in favour of the introduction of gold that, as the sovereign was worth ten rupees plus certain annas, he should order the Treasuries to receive it at a fixed value of ten rupees. That is extremely kind—to the creditors, but will the debtors like it quite as well? Does Sir Charles Wood habitually pay his own bills in guineas instead of pounds, or does he imagine that the natives will overpay his treasurers out of frolic ? What is wanted is either a deliberate project for changing the currency or an order for the reception of gold at all treasuries at its value. Even that will not meet the real difficulty, which arises not from deficiency of means but of currency, coin which cotton growers will take like rupees without worry or delay.
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