1920-1939 | India

Chancellor ecstatic as ‘India’s hordes’ forced to sell gold

20 February 1932 On 20 February 1932, Neville Chamberlain, the Chancellor of the Exchequer, in a letter to his sister, happily acknowledged that ‘the astonishing gold mine we have discovered in India’s hordes has put us in clover.’ At the time many Indian farmers were being forced to liquidate their entire savings, often held in…