ABSTRACT
Mr. C. J. Hamilton's position became very difficult, and finally he resigned and accepted a post in the Indian Educational Service; meanwhile the Bengal Journal of Economics ceased publication. At Bombay, therefore, it was decided that the proceedings of the Association should be published in the Indian Journal of Economics, and Mr. H. Stanley Jevons accepted the posts of Honorary Secretary of the Association and Editor of its Proceedings. The Calcutta conference was entirely successful in its main purpose. There were interesting discussions on urgent economic problems, and there was sufficient support to make it clear that the proposed association could be launched successfully. The principle of a "managed currency" had been accepted for India in 1894, the volume of rupees in circulation being controlled, and the exchange, by means of sales of "Councils" and Reverse Councils," manipulated so as to keep the sterling value of the rupee as close as possible to be.
