Chap. XXV.] 
LOSS TO I>'DIA. 
541 
instead of this I have taken averages based on the last nine months 
of a given year and the three first months of the next. This is to aUow 
for the fact that a certain time must elapse between the despatch 
of the ore from the mines and its conversion into ferro-manganese 
m America or Europe ; so that ferro-manganese made from ore 
exported during a given year would come on to the market in 
time for the prices obtaining during the last nine months of that vear 
Taking the ferro-man- three of the next year. From this 
ganese value, the Indian table it will be seen that the value of the ferro- 
manganese-ore production . , , , 
is about equal in value to manganese eqmvalent of the manganese-oie 
that of coal. produced in 1906 was nearly five milUon sterling 
or 7^ crores of rupees. This valuation actually places manganese-ore at 
the head of the list of India's mineral products for 1906. 
But the value given above for coal in this year is very little less 
than that of the manganese; and hence as both valuatiors are based on 
asstmiptions it is better to say that the ferro-manganese value cf 
India's 1906 production of manganese-ore is about equal to the true 
value of the coaL 
The chief interest of these figures does not, however, lie in the 
Enormous loss to India position they give to ^he Indian manganese-ore 
through not manufacturing production relative to that of the other Indian 
ferro-manganese. - i j i. .u • i-x, n 
mineral products ; but m the enormous finan- 
cial loss they show that India suffers by the export of its manganes > 
ore in the raw condition. Because the ore is exported in this 
condition the total value of the Indian manganese-ore production since 
1892 to 1906 has been worth to India only 3 crores and 5 lakhs 
of rupees, or about £2,437,000. ^Tiilst. if this ore had been con- 
verted into ferro-manganese in India, the least value to India would 
have been the export value of the ferro-manganese produced. 
The export value of the ferro-manganese is its market value where it is 
to be used minus the expenses incurred in getting it to those markets, 
on the assimiption that none of it remains in India for home con- 
sumption. £1 or Ks. 15 may be taken as a fair average for the 
expenses that would be incurred in putting the ferro-manganese manu- 
factured in India on the European and American markets. Making 
this deduction per ton from the values given in table 86 we see 
that the export value of the ferro-manganese for the whole period of 15 
years would have been Rs. 17,17,28,730 or £ll,448,rS2. Instead of this 
