During the week under review India was a constant buyer of silver in London, partly for actual shipment, partly for "bear" covering.
Although (China has, for, seme ti ai taken the lead in the fiver markets, India remains the paramount For this reason. we should like enter into the fundamentals of the que far as this is permissible wi narrow frame of our review. order fully to understand the pri ciples of the question which has recently arisen in connexion with India's proposed currency: reform, we deem it advisable to quote the figures giving the net imports into] India of silver in bars and coin from 1890 to the end of 1925, In 1893 the silver standard in India was abolished and the governmen mints closed to free coi lin the course of the suececdins years the Government continued to] purchase silver for coinage purposes, and, although the price of the white metal continued to keep very low, the total volume of silver Vimports was below the quantity which India imported at a time when the Government kept entirely, aloof from silver purchases and when price levels were considerably higher.
The following table indicates India's imports of silver in standard) ounces, for Government as well private account. Next to each figure will be found the average
Text read from the printed page and cleaned; old type leaves the occasional error.