द इण्डियन स्ट्रगल / भारतीय स्वाधीनता संग्राम (नेताजी सुभाष चन्द्र बोस - ऐतिहासिक विश्लेषण)

THE FIGHT RESUMED 289
Assembly—the Ottawa Agreement. This Agreement had
been entered into by the nominees of the Government of
India who had attended the Imperial Economic Conference
at Ottawa, in Canada, in August 1932. The purpose of the
Agreement was to force on India a scheme of Empire pre-
ference whereby India was to give to Great Britain pre-
ferences covering no less than twenty-six per cent. of her
imports. There was considerable agitation in the country
against the ratification of the Ottawa Agreement. In the
absence of the Nationalist members in the Assembly, it was
however impossible to throw out the Agreement. The
Agreement was referred to a Select Committee and the majority
report moved by Sir H. S. Gour was adopted by the Assembly.
The Agreement was ratified for a period of three years at the
end of which the matter would come up again before the
Assembly for consideration. It was further provided that the
Government should prepare an annual report reviewing the
effect on India’s export and import trade of the preferences
and that the report should be examined by a Committee of
fifteen members appointed by the Assembly. The new
Ottawa duties came into operation on January 16th, 1933.
In this connection it should be noted that since England
went off the Gold Standard on September 21st, 1931, the
total value of gold exported from Bombay up to December
31st, 1932, amounted to Rs. 105, 27, 60, 190 (Rs. 13½ = £1
approximately) or about 1,053 million rupees. Repeated
appeals were made to the Government by Chambers of
Commerce, business men and public leaders to stop this flow
of gold from the country, but to no avail. The Maharashtra
Chamber of Commerce, Bombay, for instance, wrote to the
Government of India towards the end of October, that fol-
lowing the example of the Bank of England, the Government
of India should buy up gold. According to the Chamber,
since India had a gold bullion reserve of only Rs. 112.3 millions
against a note circulation of Rs. 1,752.6 millions, the Govern-
ment would be well advised to buy up more gold.¹
¹ The flow of gold from India has been going on unchecked ever since.
According to a Press statement issued from Bombay on October 6th, 1934,
the total value of gold exported from Bombay since England went off the
Gold Standard amounts to Rs. 197,89,40,886—or about 1979 million rupees.
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