Show OPPOSE SENDING GOLD TO IIA INDIA I England and America neri a Are Against Shipments of cf f Metal Ica Heavy opposition has arisen not only In England but In America against the tile policy of or keeping India out of the sil silver sl- sl sil- sil i vcr roe market an and tr trying to ship gold instead of or silver sl cr to In India la COlf Considerable Considerable Consider Consider- Jc 1 able ablo American gold old ostensibly shipped to South America and ancl an Japan has In Instead in- in stead cad std ish i. i found its Is wa way to 1 India r 4 via Ia 1 Brit Brit- Bri- Bri u V in their financial review I British banking interests and silver experts have been spiting their thell own o faces Their aim has been to try to keep down lown tile the price of oC direr which would have climbed to much greater creator heights and doubtless wl will climb were India in tho the silver sU open market t Shipping Shipping gold to India India ha has hag been doubly unfortunate from tram both the tho lint lint- Ish and American points of or vie view First of oC all aU it has not prevented tet n a C prodigious pro pro- climb In Jn silver siver Then too Britain and nd the thc world can ill iii I afford aford to tl permit scanty gold sold supplies to sink Into into India where gold Sold like silver r. r van an to return no more Still further there is a direct loss in buying gold old Sliver Silver would really be cheaper To ro ob obtain ob- ob tam tain 1000 shillings or rupee equivalent costs 1280 shillings to buy th the tho silver at pence per ounce silver cr BU but costs 1370 shillings to buy bar gold at 1163 a 16 shillings per por pOl ounce While British bankers have to pay 28 8 per cent premium premium pre pre- minis to buy silver to ship to India India the they must pay 27 37 cent 7 per premium to bu buy gold sold for tho the same purpose Tho The unfortunate feature is th thit t America America is depleting its gold supplies supple as alleged trade balances dUo o d elsewhere else else- where in pa payment the tho gold sold finding its way way largely to India via via Ln London on exchange channels It lies has boon been pointed out th that if Ir Britain had not ab nb- interest payment on loans from the United States America would not be bc called caled upon to ship gold old And even evon with wih In Interest paYment payments abrogated bankers erH claim that gold shipment ment to India whether directly or Indirect indirectly should bo be p prohibited so far fat as S possible or on feasible where silver i Is 1 j possible |