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Congress Select Committee On The Financial Obligations Between Great Britain And India - Vol I Author:Various CONGRESS SELECT COMMITTEE ON THE FINANCIAL OBLIGATIONS BETWEEN GREAT BRITAIN AND INDIA REPORT VOLUME I BOMBAY 1931 PRICE ONE RUPEE VOLUME II is an annexture in which Prof. K. T. Shah has elaborated certain aspects of the Problem in point of law as well as general policy. The Working Committees Resolution ON THE REPORT passed on 7th July 1931 The... more » Working Committee, having received the report of the Committee appointed by it on financial obligations between Great Britain and India, places on record its thanks to the authors of the report and appreciates the great pains which they have bestowed on their work. The Secretaries are instructed to arrange for the early publication of the report. FIRST PRINTED . . July 1931 SECOND PRINT , . August 1931 CONGRESS SELECT COMMITTEE ON THE FINANCIAL OBLIGATIONS BETWEEN GREAT BRITAIN AND INDIA 65, Esplanade Road, BOMBAY, 6th July 1931 Sjt. Vallabhbhai J. Pat el, PRESIDENT, THE INDIAN NATIONAL CONGRESS, AHMEDABAD. SIR, I have pleasure in presenting to - you a copy of the Report of the Select Committee appointed by the Working Committee to scrutinise the Financial Obligations between Great Britain and India. I remain, Yours faithfully, J. C. Kumarappa, Convener. CONTENTS PART I Para. Page. Terms of Reference ... ... ... 2 1 Method adopted ... ... ... 3 2 No Popular Control over Finances ... ... 4 2 Ratification and not Repudiation ... 5 3 Sanctity of Contracts ... ... 6 4 PART II Under the East India Companys Rule. Historical Survey ... ... ... 7 5 Amount of the Companys Debt on 30th April 1857 8 6 Origin of the debt ... .... ... 9 7 Confusion in Companys Accounts ... ... 10 8 Burden imposed by External Wars ... 11 10 Dividends and Redemption of Capital Stock ... 12 12 Cost of the Mutiny ... ... ... 13 14 PART III Under the British Crown. UNPRODUCTIVE DEBTS. Public Debt Amount and Classification ... 14 17 Unproductive Debts... ... ... 15 20 External Wars Schedule ... ... 21 Abyssinian War ... ... 16 22 Perak Expedition... ... 17 23 Second Afghan War ... 18 23 Egyptian Operation of 1882 ... 19 25 N. W. F. Expeditions, 1882-92 20 25 Third Burmah War ... 21 25 Soukim Expedition ... 22 26 European War ... ... 25 27 War Gifts ... ... 24 29 Other War Burdens 25 30 War Costs ... ... 26 32 Dominions compared ... 27 33 Budget Deficits ... 28 3 ii Para. Page. Miscellaneous Charges India Office... ... 29 36 Aden ... ... 30 36 Persian Mission .. 31 38 China Consulates ... 32 40 Zanzibar and Mauritius Cable ... ... 33 41 Red Sea Telegraph 34 42 Ecclesiastical Charges ... 35 42 Burmah Deficits, Defence and Railways... 36 42 Famine Charges ... ... ... 37 43 Exchange Losses ... ... ... 38 44 Loss on Reverse Councils .., ... 39 45 PART IV Under the British Crown. PRODUCTIVE DEBTS. Classes of Productive Debts ... ... 40 46 Railways Origin ... ... ... 41 47 Guaranteed Interest System ... A3 49 Costly Acquisition by the State ... 43 54 Fixed Rates of Exchange ... 44 54 Strategic Railways ... ... 45 56 Irrigation ... ... .., ... 46 57 Postal and Telegraph Service ... ... 47 58 Provincial Debts ... ... ... 48 58 Debts of Local Governments, Port Trust, etc. ... 49 58 Conclusion ... ... ... ... 50 59 PART V Summary of Claims ... ... ... 51 50 Recommendations ... ... ... 52 60 Acknowledgments ... ... ... 53 63 NOTES 1. Annual Military Expenditures ... J. C Kumarappa 64 2, Interest on Claims ... ., f iii PAG. APPENDIX Schedule A, A list of a few of the Payments made by the East India Company which should have fallen on the British Exchequer ... ... Table 1 i B, Return of the Rupee Debt of the Government of India for 31st January 1931, Floating and Unfunded Debt bearing Interest ... ,, 2 ii Terminable Loans ... 3 Hi Non-Terminable Loans ... 4 . iv Railways Loans ... ... 5 v Public Debt not bearing Interest ... ... 6 vi C, Return of Sterling Loans ... ,, 7 vii D, Details of Acquisition of Rail ways by the State ... ... 8 ix INDEX x Printed by M. N...« less
