There were no movements dating' the week.
Arrivals were:—is. 800,000 small coins melted movements of the re deter eign would be legal tender in India tthe rate of Re, 10 to the sovereign instead of Re. 15 to the sovereign, which had previously been the legal slratio, "Experience of the past four have years has now proved that the ratio jerome to hand. The market really! recommended by the Indian Cur-consists mostly of speculative deals, rency and Exchange Committee is governed by the various views held {unsuited to the conditions of this as to the future of the U.S. ex-country, as the exchange has been change. The Continent hax again Imuch more in the proximity of the bought considerably, though sales old legal ratio than the existing have also come from that quarter.
Jogal ratio during all these yea America is not a free seller (doubt less for reasons indicated in the when world ith the vole exception of 1910. succeeding paragraph) and the tone abnormal everywhere, of the market, apart from the! tendency of the price to vacillate, continues coun.
The following extract ix from the [fore propered to reverse the legisla tion of 1920, and to restore the ratio thit prevailed up to the date of that ogistation, ensy report assoc ices pet Bomestic'conrumption is only" about reducers export 60 per cent. while the domestic and foresen leach, year on the New hited States markets, an export pool would necessarily control oth tne world and domestic. pric the view of Eiuation. in the siver industry, the oura be amend, bice of the silver amelt: works against an export alike copper, the silver ameloutright lid ie the titular Sener of all seer and ores. it'pase the mine. onthe ani gold. in. ores. ihe ate of the The smelter Fish carrying' the metal, it mast retain the aimeler cannes © ford 4 liberty of action to. sell each day the market price its intake. An export uld restate sales and destroy anil would come
Text read from the printed page and cleaned; old type leaves the occasional error.