MINUTES OF EVIDENCE 655
- What date was that ?—It is the Budget speech of
1898-99 after the reforms were introduced.
It was in 1894-95.—No ; Dawkins comes on the next page. My reference is to the Financial Statement for 1898-99 at page 276. Then the passage from Sir Edward Law occurs on page 278.
Will you excuse me for correcting you. You said your reference was to the Budget speech of 1898-99. As a matter of fact the reference you have made is from the speech of 1894 95 ?— He was also Finance Minister in 1899.
He turned it down in 1894-95 ?—I mean there was no material difference between the Herschell Committee and the Fowler Committee and I am sorry if you think I have made any vile allegation against the gentleman.
(Sir Alexander Murray.) —All I am doing is quoting what you say in paragraph 5 of your statement. All I say is there is danger of anybody falling into that trap.
(Chairman.) And you maintain that in your book you have vindicated these eminent statesmen ?—Yes.
(Sir Purshotamdas Thakurdas.) In paragraph 8 you refer to various countries of the world as “hankering for a return to the pre-war parity” and you say it seems to be universal. Then you go on “There is but this difference between India and the other countries. The other countries have yet to reach the pre-war parity. India on the other hand has in fact overreached the pre-war parity.” Those other countries to which you refer have had their currency very severely depreciated during the war ?—Absolutely.
Not the solvent countries ?—I think these countries also which are very near their old parity find it difficult to go back.
For instance, which countries have you in your mind ?—Well, I am talking of the proceedings of the Genoa Conference, which I do not carry in my mind, but I think for instance a country like Italy. France was at one time within measurable distance of pre-war parity.
France now is perhaps worst off of all; therefore you are there remarking a difference between India and other countries whose currency was severely dislocated during the war period