And the Boycott.

American silver exporters are, of course, concerned about India, but they are also concerned about themselves. Silver, which used to be quoted round about half-a-crown an ounce, has touched one shilling. Yet its production is not checked by price-fall in the ordinary way because silver is usually a by-product of the producing of base metals. As the value of silver money in China and India falls, their people have to pay more for imports (including British cottons, etc.), but are in a better position to export. Not only must British manufacturers face that difficulty in the Eastern market generally. They must also meet in India the boycott. The exclusion of foreign cloth from India, says Mr. Gandhi, is “an economic necessity,” and “Manchester must find new markets.” Mr. Gandhi is a political force. Thus once again politics and economics intertwine.