This is Mahatma Gandhi's eighth speech at the Round Table Conference, the sixth before the Federal Structure Committee, delivered on November 25, 1931.
In this speech Mahatma Gandhi elucidates the point that the so-called "safeguards in the interests of India" are really strangleholds intended to perpetuate Britain's exploitation of India. First, Gandhi demands an audit of mutual obligations, especially in regard to the so-called Public Debt of India. Second, he dispels mischievous rumors regarding the Congress stand on just debts and obligations: "not one single farthing of national obligations shall ever be repudiated by the Congress." The corollary naturally follows: no unjust debts and obligations saddled upon India need be respected by the Swaraj India under Congress leadership. Third, Gandhi conclusively proves that the safeguards are laid down really in the interests of England. Fourth, in her countless units of labor lies hid the immense wealth of India which, coupled with bountiful nature, would produce "more than enough to pay for all her obligations, and more than for all the imports that she may ever require." Fifth, he excoriates the "drain" of wealth from India to the British shores and the exorbitant amount of money spent upon defense, defense of imperial interests being deemed paramount over defense of Indian interests. Sixth, he argues that responsibility spells financial control: "I would want complete control of Indian Finance if India was really to have responsibility at the Center." Finally, he avers