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With what profound veneration for and recognition of the power of God does the regenerated creature think of those alterations in its own nature which, after long strivings, are eventually given it by God, and of those alterations not yet stabilised because not yet gifts, but only on the way to perhaps becoming gifts that is to say, still only where the power of the creature itself has been able to raise them: for of these last it may invariably be said that to-day we may feel serene security and to-morrow fall and fail and this in the very meanest way!
The Secretary of State accepted the recommendations of the majority of the Committee, and in February 1920 steps were taken to establish the new ratio regardless of the fact that signs were indubitably discerned in the previous month showing that the economic current had turned against India. The rupee was to be "stabilised" at 2s. gold.
For over those the sun has had power since their birth, consuming their marrows and evaporating their blood so that they became pithless things that have to fly indoors for half the day and leave the Southern sun blazing insolently on the receptive Southern earth. But with blood cooled and nerves stabilised by youth spent on the edge of the grey sea, she could outface all foreign seasons.
The money represented by the Indian balances with the Secretary of State had been put down in London at 1s. 4d. upwards, and India had to pay at the rate of 2s. 11d. downwards to get it back. The difference between the two rates represents, it is calculated, a loss to the Indian tax-payer of thirty-five crores of rupees, or £35,000,000 at the "stabilised" rate ordained by Government.
In reply to this it may be said that though this was true during the industrial revolution, it does not apply to-day; that our industries have become organised; that methods of production, population, and economic conditions generally are stabilised, and that we can now settle down to a new and standard form of industrial organisation. But this agreement is based on false premises.
But the last few paragraphs will doubtless suggest that such a single-minded addiction to competitive gain and competitive spending as the stabilised and amplified price-system would enjoin, must lead to an effectual retardation, perhaps to a decline, of those material sciences on which modern technology draws; and that the state of the industrial arts should therefore cease to advance, if only the scheme of investment and businesslike sabotage can be made sufficiently secure.
They were surely destined to play a much more prominent part had the period of stabilised warfare continued. Projector cloud gas would have assumed greater importance as a casualty producer. But we will leave such considerations for a future chapter. We have no desire nor intention to give a detailed historical account of the above.
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