into at all by the Committee.

The Indian Government and Currency Committee financially
panic-stricken, and in dread of effects of repeal of Sherman Act.
The financial condition not such as to warrant panic. Taxational
resources not exhausted.

Sir William Hunter's statement proves that the financial
conditions were full of hope. The dread that the repeal of the
Sherman Act might reduce rupee to 1s. Examination of the
subject on that supposition.

By a rate of 1s. a rupee the Government would lose about seven
millions on its home remittances, and the people of India gain
fourteen millions on their exports. Mr. Gladstone's Government
adopted Home Rule Bill, and Currency Measure in one year. Both
forced on by tyrannical action. Gladstonian action as to Opium
Commission equally tyrannical.

The monetary measure a policy of protection for the benefit of
the silver-using countries that compete with India.

Some of the evils the measure, if successful, must cause. The
Indian Finance Minister declared that "it ought not to be
attempted unless under the pressure of necessity." No necessity
arisen. An independent body wanted to efficiently check the
Government. The Duke of Wellington's opinion.

India and Mexico compared. Mr. Carden's Consular Report.