The advocate and Topeka tribune., 1892-11-09

ing Europe could not make things worse.
TO the same effect was the testimony last
summer before the British commission,
and it is not weakened by the fact,
which the commission say is borne out
by the testimony, that the imports as
we'll as the exports Of India are on low
range of prices. Both facts prove the
same thing, that silver is not in excess,
but scarce and deficient, in India.
The demand in India for coined money,
on any scale, is Of vory moderate origin,
not antedating the present century, and
has become important even more re-
Gently than that. The old native prac-
tice was to pay land rents in the products
of the land, and nearly all transactions
even fifty years ago were by barter. W..
Nassau Lee, one Of the best informed
and most intelligent writer's on Indian
topics, in work entitled, "Drain OF Sill
YER to the East" dated at Calcutta in
1868, but printed IN London, states that
the use of coined money was still not
common outside of the cities, and that
the general use of it would require an
additional amount of &400,00O,O0O, $2,0O0,-
100000. This estimate was on the basis
of an assumed population of 18O,OOO,OOO
(now known to be 237OO00OO), and on an
amount per capita equal to what is en-
ployed in Great Britain, although in Mr..
Lees opinion India required more, be-
cause making less use Of credits and
representative money. Colonel Hyde,
who was for fourteen years director OF
the Calcutta mint, testified before the
British commission to the same general
facts which are given in Mr.. Lees work,
and gave it as his opinion that "Sts
Qndia' 81 capacity for absorbing siloer re-
mains great" Another witness, Nc
Kenzie, who had been o merchant, indigo
manufacturer, and railway manager in
India, testified that the circulation in
many parts of that country was " totally
inadequate"
There have been, Of course, fluctua-
tons in the balances OF India trade within
the last forty years. The silver imports,
from 1871 to 1875, were on lower aver
age than during the last forty years, and
on much lower average than during
the American civil war, when India
largely supplied the world with cotton
There we're equal and even greater huc,
tuations prior to the last forty years. In
one year, 1882 '33, according to Mr.. Lee
'the food of silver to India almost dried
up" But Notwithstanding temporary
fluctuations, the great fact that India If
sink Of silver is as true to-day as it has
been from the earliest period OF history
That it will continue to draw silver
from the rest Of the world rests upon the
permanent conditions that it has no sill
YER mines, while it abounds in com
modities which command the precious
metals, and has vast population, indus
trious and rich, whose demand for silver
for use as money is constantly lncreas
ing, and whose passion for both silver
and gold, for decoration, ornamentatior
and personal adornment, is proverbially
universal.
The following is statement OF the
foreign commerce of India for the thirty
six years, from 1895 to 1871:
Rxnorta of uaercpapdlse, 81 ,Oi2 600 OO
| Exp0'tS Is OF gold and silver. I0OOO
| Exports OF merchandise. e........... 653 wv w w
| ImooFtg nf gold and silver. r.......... 3l2 UOO w