ABSTRACT
The Eastern exchanges are the exchanges of the silver-using countries, and there are therefore in these cases no pars of exchange and no gold points. The price of silver plus or minus shipping charges roughly fixes the rate above and below which the Eastern exchanges will not go. The increase in the value of silver brought about an increase in the value of Chinese and Japanese currencies, and that meant an increase in the value of the property and funds owned by the bank; hence the shares of the bank were considered to be of more value. The idea underlying the decision to fix the rupee at one-tenth of a gold sovereign was that when sterling recovered its parity with gold, the value of the rupee would have been permanently increased.
