AN M.P. AND HIS SEAT.

Dominion, Volume 6, Issue 1649, 16 January 1913, Page 7

AN M.P. AND HIS SEAT.

r .':: ~ ! CASE ■OF SIB STUART SAMUEL. •By Tcleffraph—Press Association—Copyright London) January 13. Sir John Siinoii,' Solicitor-Goneral, has given notice in the Hotise of Commons to refer the question of : Sir Stuart Sain, uel's retention of his teat to the Judicial Committee of the Privy Council; Sit Stuart Samuel is. a partner in . the firm of Samuel, Montagu; and Co., from Which the Indian Government has made largi purchases of -silver, and it is alleged that he has thus forfeited his right to Bit in .the House.of Commons. ■■ | EXPLOITING INDIA'S MOIiEY. Some very ugly, scandals have teen made public in regard to the way in whioh the India Office has used India's money, and it is absolutely essential if We are; to retaiit the goodwill of Indiaj .that all basis for these scandals shall be abolished,forthwith. v > ... The first scandfil is .that nearly nine millions sterling of India's cash balances are on loan to Various approved borrowers and'banks in London; of the gold standard reserve, nearly sixteen millions are invested in securities here, and over a million is on loan at short nbticei 'Mr. Tonche, M.P., has explained in the "Morning Post" that Indian merchants have a - long-standing grievance' against the transference to London of these very large sums of money, for no very purpose except the advantage of the London firms concerned. - _ Who are these merchants who are mak-. ing profits to the disadvantage of India P The Government has promised to give names. ■ ; ; Scandal tvro (both are brought to light by Mr. Rupert Gwynne) concerns the purchase of silver for rupees by the Government of India. It is stated that no, silver has been bought since 1907 ■ this year, and on this occasion was purchased through Messrs. Samuel Montagu and Co., a firm through which no transactions of the sort had ever previously been made. The explanation offered by Mr, Baker for the sudden employment of a new firm is that there had been the prospect of a speculative rise in the price of 6ilver against the Government, and that this was avoided by the employment of Messrs. Samuel Montagu and Co. In view of the fact that the head of the firm in question is the brother of the Under-Secretary for India; the ''Spectator" has ho hesitation in saying that the Government should have preferred to lose the chance of a slightly better bargain rather than risk the inferences winch Were only too likely to be drawn from th<\ facts now disclosed. - . The first of a Series of articles in "The Times" by an Anglo-Indian correspondent takes the Indian view, and is evidently not afraid of plain , speakings He says' l . "Once let the opinion become general that Indian interests are of less account than , those of city bankers and brokers, and we can see the end of British rule." "There Can be no doubt about the intensity of feeling now arising in India," says the "Pall Mall." _ "There must bo a soir-ntific_ investigation into the way in which India is being robbed—there is no other, word for it— to liolster up London credit. "The other line of inquiry must be into the relations between individuals • and institutions, and the system of India Offico control over Indian finances. We Want to know who has been profiting in ways which 'are unwarrantable. The Tndia Office was given the final voice in Indian finnnco to prevent the wicked Nabobs from 'shaking the pagoda t tree for their own benefit. Those must linvo ttf»Dn verr ustnto minds which first disrented the idea of utilising. in the interests of city and other enternrises, ft system, meant for India's protection. _ —