Bank of Bengal rate
5.62%
+0.08 pts on 1918
Bank of Bombay rate
5.64%
+0.1 pts on 1918
Bank of Madras rate
6.65%
−0.2 pts on 1918
Government of India · regulation · 1 January 1919
Daily issues of rupees to single tenderers of notes limited, to satisfy large demands in part and small demands as a rule in full
VerifiedOfficial record. Source: BS1920 para 29
Government of India · 16 June 1919
Announcement of a 5 per cent income-tax-free Loan issued at Rs 95, repayable at Rs 100 in 1945-1955; war bonds accepted at par as cash; a sinking fund of 1½ per cent of the loan set aside annually; subscriptions unlimited and receivable at Presidency bank offices, the Controller of Currency, treasuries, sub-treasuries and post offices
ReportedPeer-reviewed. Source: SHIRRAS1920 p.335
exchange rate
Removal of American control over the export of silver raised the silver price and necessitated a rise in the minimum rate to 1s 8d
VerifiedOfficial record. Source: BS1920 para 22
monetary system
Appointed 30 May 1919 by the Secretary of State to examine the effect of the war on the Indian exchange and currency system and practice and upon the position of the Indian note issue, and to recommend modifications with a view to "ensuring a stable gold exchange standard". Held 40 meetings and examined 28 witnesses; reported 1920
VerifiedOfficial record. Source: BS1920 terms of reference and paras 1-3
exchange control
From 10 September 1919 drafts sold by open competitive tender subject to a minimum rate and a 20 per cent per-applicant weekly limit; the weekly amount fixed by the Secretary of State
VerifiedOfficial record. Source: BS1920 para 21
exchange rate
Minimum rate raised to 1s 10d
VerifiedOfficial record. Source: BS1920 para 22
exchange rate
Minimum rate raised to 2s 0d
VerifiedOfficial record. Source: BS1920 para 22
exchange rate
Minimum rate raised to 2s 2d
VerifiedOfficial record. Source: BS1920 para 22
exchange rate
Minimum rate raised to 2s 4d, with reverse immediate telegraphic transfers to be sold at 2s 3 31/32d if demanded. Exchange had thus been raised by successive steps from 1s 4d to 2s 4d
VerifiedOfficial record. Source: BS1920 paras 22, 31
gold market
The revival at the end of July 1919 of a free market for gold provided an alternative method of remittance and facilitated the return to more natural conditions
ReportedOfficial record. Source: BS1920 para 21
customs tariff / industry
New principle in the Indian tariff: an export duty put forward frankly as protection for the Indian tanning industry, with a rebate of two-thirds of the duty on hides and skins exported to the Empire and there tanned
ReportedOfficial record. Source: FISC1922 ch. I para 24
fiscal policy
Joint Select Committee on the Government of India Bill reported 17 November 1919 recommending a declaration of fiscal autonomy, in response to Indian witnesses
ReportedOfficial record. Source: FISC1922 ch. I para 3
