Page:Indian Journal of Economics Volume 2.djvu/114

 log OUI{I{ENT NOTES Rs. 3,92,33,250. The subscription to the Pos Office section and Cash Certificates has continued open and the total figures of subscription from he commence- ment up to early in October are as follows: Main Section ...' Treasury Bills received in England Pos Off[ice Section Cash Certificates ... Total 88,86,87,100 1,65,61,200 8,92,88,25O 8,13,20,195 52,07,51,745 The rapid rise in the price ot silver lately has created a good deal ot alarm and misgiving 'in the minds ot the illiterate. The Ordinance of the Indian Government requisitioning silver landed in India at 5 per cent below the price of bar-silver in London was probably a contributory cause to the speculation which developed in the silver market; and the price jumped up from 40d to 42d, to 44d and to. 55d per oz in September. The present price (December) is over 43d per oz.,. and it does not seem likely to go back to its old basis in prohibiting The exchange level. In order the Government private rate of permanent feature but the rate may o! to keep currency on a o! India has acted trade in gold and 1 s. 5 d. may the Indian become a currency even go up to ls. 6d. or if war continues much 1o%ger. sound wisely silver. semi- system; above it
 * We regret having to record the untimely death

of another Professor of Economics, Mr. J. E. Garry of Lahore Government College, who was wounded on 7th June, 1917 and died of his wounds on 13th June