660 DR. BABASAHEB AMBEDKAR : WRITINGS AND SPEECHES
He will make less profit ?—Yes; there would be a depression of profit.
To that extent of course the producer will be a loser ?— If you think that he had a legitimate right to that profit, then of course you would be right in saying that he loses ; but not if it was a merely differential gain.
As 1s. 4d. it was merely a differential gain ?—Yes.
Lasting for a period of 25 or 23 years ?—As I say it all depends upon how you define it.
How would you define it yourself ? So long as he is able to recover all that he has spent in production I do not think that he would be a loser.
And you would apply that test to every person ?—I would say that he has made both ends meet.
Do you think that would be the maximum which the average citizen would like to apply in his own ease ?—I can give no opinion upon that, I am afraid.
Now, you mention in paragraph 8 : “Two things must be borne in mind in this connection,” and lower down you say : “Existing contracts are no doubt of various ages.” What sort of contracts have you in mind there ?—Leases for instance : and other contracts also, such as building contracts and so on.
How would they come in with the question of exchange ?—They are money contracts just the same ; they are all money contracts.
Every contracts, then, you mean ?—Yes.
If a man was putting up a house in a mofussil rural place for 4,000 rupees, that also would come under this ?—Of course ; it is investment of money.
You have in mind everything that involves investment of money in the country ?—Yes ; it has purchasing power.
Then you say : “Given these two facts, the best solution would be to strike an average between 1s. 4d. and 1s. 6d.” Why did you mention an average instead of 1s. 6d. ?—I say so because in 1925 there may be some contracts which were made when the ratio was 1s. 4d. Some contracts may be still subsisting made at that period when the purchasing power was at the rate of 1s. 4d.,