INDEX

Administration:

Changes in 1833, 21

Civil Service reforms, 1853, 90, 91, 97

Table of costs, 92

Agricultural exports, 104

Althorpe, Lord, 161 note

Babington Smith, Sir Henry. See Smith Committee on Currency

Bagehot, Walter, 130, 131

Baker, Hon. Mr., 301

Bank Charter Act, 1884, 279

Bank of England Notes, depreciation, 1797–1818, 243, 247

Banks in India, table, 37

Barbour, D., 184 note

Belgium, Bimetallic system in, 23

Bengal:

Double standard experiments, 1766–93, 14

Reform of currency, 18

Bimetallism:

Abrogation in India, 22 et seq.

Drawbacks of, 138

Gold to silver ratio, 83

Indian Government's position, 140, 141

Market and Mint ratio divergences, 84, 85

Monetary conferences, discussions at, 135, 136

Bombay, currency reforms, 16, 18

Brown, Hon. Claud, 45 note

Cairnes, Prof. J. E., 47 note, 82

Cannan, Prof. Edwin, 246 note, 262 note, 297

Cassel, Prof. G., 253 note

Cassels, Mr., 34, 35, 41

Castlereagh, Lord, 211, 241 note

Chamberlain Currency Commission, 1913, 164, 167, 171, 187, 225, 231 note, 234, 237, 249, 259, 272, 277, 278 note, 302

Cheque system, failure of, 64

China, trade with India, 1889–1908, table, 183

Civil Service, economies in, 90, 91, 97

Coinage and Mint Act, 1870, 49 et seq., 147

Coinage under the Moghul Empire, 4

Cotton trade, development in India, 102, 106

Council Bills:

Drawings, 1803–94, 189

History of, 263

Reverse Councils, 166, 220 et seq.

Sales of, 130, 131, 166, 187, 213, 264 et seq.

Cromer, Lord, 113

Currency. See Indian Currency Currency Act, 1835, 22, 23, 36

Curzon, Lord, 275

Dalal, Mr., 260 note

Datta, Mr., 210 note

Davenport, Prof., 257

Dawkins, Hon. C. E., 274, 277

Demonetization of gold, 1833, 19

Demonetization of silver, 71 et seq.

Discount rates, chart, 66

Dislocation of silver standard parity, 49 et seq.

East India Company:

Double standard experiments, 1766–93, 14 et seq.

Silver standard prescribed, 9

English currency, early history, 2, 6, 27

European countries, money stocks distribution, table, 134

Exchange:

Fall of, economic effects, 87 et seq.

High exchange policy, 1920, 208

“Natural level” fallacy, 225, 226

Stabilization of, 203

Exchange rate:

Gold value of rupee in terms of, 196

London on Calcutta, 1914, 1915, table, 192

London on India, 1907–8, table, 191

Purchasing power parity, 252 et seq.

Exchange standard, stability of, 181 et seq.

Falkner, Prof. R. P., 62 note

Fetter, F. A., 234 note

Finances, Imperial and Provincial, separation between, 207

Fisher, Prof., 83, 84, 250, 257

Fowler, Sir Henry, Indian Currency Committee, 1898–99, 156, 239, 263, 269, 283, 288

Foxwell, Prof. H. 8., 72 note, 79 note

France:

Bimetallic system, 23

English and French currency systems compared, 161

Gold and silver mintage, 1803–73, table, 137

Germany, currency difficulties in, 132

Giffen, Sir Robert, 129

Gokhale, Hon. Mr., 258, 303 note

Gold:

Consumption in various countries, table, 245

Discoveries, effect of, 23, 25

Issue, 1917, 218

Notes, value in terms of, table, 243

Price-levels compared with other commodities, 242

Silver and gold, value and production, 76 et seq., 79

Gold currency for India:

Arguments in favour, 257 et seq.

Commission of 1868, 47

Imports of gold, 1863–64, 42

Legal tender notification, 1864, 46

Proposals, 1864–66, 42 et seq.

Gold exchange standard:

Chamberlain Commission, 1913, 164, 167, 171

Mints, closing for silver, 168, 169

Objections to, 167

Gold payments:

Army remittances, 97

Burden of, 186

Civil Service remittances, 97

Rupee, cost of, 87, 88, 89

Gold standard for India:

Bengal Chamber of Commerce support, 1876, 122

Currency Committee, 1886, 129

Currency Committee, 1898, 129

English fiscal difficulties, 26, 27

Government scheme, 1878, 125

Monetary Conferences, 135 et seq.

Movement towards, 118 et seq.

Proposals, 1859, 38, 39

Smith, Col. J. T., plan of, 121

Temple, Sir R., plan of, 118

Gold standard reserve:

Danger of, 238 et seq.

Maintenance and distribution, 230 et seq.

Gregory, Dr. T. E., 239 note

Gresham's Law, 138

Gupta, Mr., 210 note

Halifax, Lord, 119

Hamilton, Lord George, 158

Herschel Committee on Indian currency, 1893–94, 146 et seq., 288

Huskisson, 27

Inchcape, Lord, 213

Indian currency:

Additions to coinage, 1893–1920, 218 et seq.

Army establishment, effect on, 30

Banks, table of, 37

Barter, trade reduced to, 7

Chamberlain Commission, 1913, 164, 167, 171, 187, 225, 231 note, 234, 237, 249, 259, 272, 277, 278 note, 302

Coinage and Mint Act, 1870, provisions of, 49 et seq.

Convertibility of, 174

Credit currency, lack of, 1859, 36

Currency circulation, tables, 199, 200

Dislocation of parity of exchange, 69, 70

East India Company Units, table, 11

Expansion measures, 1898, 152, 153, 154

Fowler Committee, 1898–99, 156, 239, 263, 269, 283, 288

Gold currency. See that title

Gold exchange standard. See that title

Gold standard for India. See that title

Herschell Committee, 1893–94, 146 et seq., 288

Imperial and Provincial finances, separation, 207

Mint for gold coinage, 157, 158

Mints, opening to silver, 149, 150

Moghul Empire, 1 et seq.

Money market fluctuations, causes of, 60 et seq.

Monopoly of issue by Government, 169 et seq.

Paper currency. See that title

Precious metals imports, 31, 32, 33

Redemption, 220, 224 et seq.

Reforms, 1833, 18, 19

Rupee. See that title

Silver standard. See that title

Smith Committee, 1919, 194, 201, 248, 249, 263

Trade currency, 1860–70, table, 43

Trade expansion, 1842, effect of, 30, 32, 33

Industrial pursuits, England and India, tables, 100, 101

International coinage, uniformity in, 71 et seq.

International Coinage Commission, 119

International Exchange, American Commission, 1898, 133, 135

International Monetary Conferences. See Monetary Conferences

Investments, Indian, Price-movements of, 94

Italy, Bimetallic system of, 24 note

Jevons, 63, 82, 132

Jute industry in India, development, 103

Kemmerer, Prof., 172, 249, 251 note, 253, 295

Keynes, J. M., 170 note, 172, 173, 184 note, 201, 214, 232, 248, 249, 251 note, 252, 256, 257, 295, 302

Kitchin, Joseph, 245 note

Laing, Mr., 39, 40, 298

Latin Currency Union, 1865, 24, 72

Laughlin, Prof. J. L., 73 note, 74 note, 76 note

Law, Sir Edward, 278, 279, 282, 283, 284

Legal tender:

Limitation of, 285, 290, 201

Rupee as legal tender in U K., 145

Lewis, Prof. W., 79 note

Lindsay, A. M., 154, 164, 165, 166, 177 note, 238, 240, 289

Liverpool, Lord, 28

London, A. C. B., 35 note

McCulloch, J. R., 48 note

Madras, currency reforms, 15, 18

Mansfield, Sir William, 46 note

Marshall, Professor, 108, 130 note, 17, 186 note, 203

Meston, Sir James, 275

Meyer, Hon. Sir Wm., 300

Mint and Coinage Committee, 1803, 13

Mint regulations under Coinage Act, 1870, 51

Mints, opening to silver, 149, 150, 269

Mitchell, Professor, 242, 256

Moghul Empire, economic system under, 2, 3

Mohur:

Currency unit, 119

Issues of, 14, 217

Monetary Conferences, 1878, 1881 and 1892, 135, 149

Money and stocks distribution, table, 134

Money market, Indian, causes of fluctuation, 60 et seq.

Monometallism. See Silver standard

Muir, Sir William, 123

Newmarch, F. W., 264 note, 265 note

Nicholson, Professor, 175 note

Nickel coinage, 218

Overstone, Lord, 162, 163

Paper currency in India:

Banks of issue, 53, 54, 57

Department for, 55

Encashment regulations, 58

Establishment of, 49

Fiduciary issue, extending, 215 et seq.

Independent Treasury system, 66, 67

Notes, issue of, 1915–19, table 217

Paper pound, 1797 and 1914, compared, 297

Reserve distribution, 1862–91, table, 56 note

Values, table, 41

Paper Currency Acts, 42, 63, 147, 215

Parnell, C. S., 239

Peel, Sir Robert, 27, 30

Pierson, Professor, 160

Pittman Act, U.S.A., 219

Prices:

Committee of Enquiry, 1910, 210

Gold exchange standard in relation to, 250 et seq.

Indian and foreign price-levels, Chart, 250

Inflation during War, 250, 251

Movements of prices as standard of value, 256

Rupee and sterling securities, 1873–92, 94

Wages and Prices in England and India, 112

Wages, silver and prices, table, 110

Probyn, Mr., 154, 177 note, 238 note

Public works in India, development, 91, 93

Reddi Garu, M. L., 236

Revenue and expenditure in India, 88 et seq., 92

“Reverse Councils,” sale of, 166, 220 et seq.

Ricardo, David, 28, 238 note, 241 note

Ripon, Lord, 95

Ross, H. M., 213 note

Rupee:

Alteration of par, 1917–1919, table, 193

Coinage additions, 214, 215, 219

Convertibility, 174

Cost of fall of, 1894–97, 190

Depreciation, 1914–19, 205

East India Company's rupee, 9

Economy of rupee currency, 294, 205

Gold payments, cost of, table, 89

Gold standard reserve and rupee circulation, 233

Gold value, 1802–1922, tables, 188, 194, 195, 196, 197

Imperial bimetallic, 145

Legal tender in United Kingdom, 145

Moghul Empire, 4, 5

Monthly fluctuations, chart, 113

Purchasing power, 198 et seq.

Rupee-sterling exchange, fall of, 71

Stability, general survey, 187

Standard of value, 257

Uniform, coinage, 1833, table, 19

Weight, increasing, 144

Russell, H. B., 48 note, 72 note, 73 note

Sconce, Hon. Mr., 58 note, 59 note

Seignorage, levy of, 25, 167

Shirras, Mr., 201, 210 note, 249, 302

Silver:

Bounties and the fall of, 108 et seq.

Cost of purchases, 1893–1920, 236

Depreciation, attempts to prevent, 130, 131, 132

Gold and silver, relative production and value, 76 et seq., 79

Indian Government purchases, 1915–20, 219

Limited legal tender, 285

Price movements of, 191, 192, 204

Silver standard for India:

East India Company's decree, 9

Evolution of, 22 et seq.

Demonetization of silver, effect of, 71 et seq.

Dislocation of parity of exchange, 1873, 70 et seq.

General nature of, 49 et seq.

Instability, 87 et seq.

Smith, Colonel J. T., 121, 143

Smith Committee on Indian Currency, 1919, 194, 201, 248, 249, 263

Subedhar, Mr., 263

Switzerland, bimetallic system, 24 note

Taussig, F. W., 161 note

Taxation, increases in, 88 et seq.

Temple, Sir Richard, 55 note, 59 note, 67 note, 118, 119

Thackersay, Sir V., 269, 273

Trade:

Adverse balance and fall of exchange, 209, 246

Agricultural exports, 104

Bounties and the fall of silver, 108 et seq.

China and India, 1889–1908, table, 183

Cotton trade development, 102, 106

Distribution of, tables, 105

Falling exchange, general effect of, 99 et seq.

Imports and exports, tables, 99, 100

India and U.K. before and after Mint closure, 182

Jute industry development, 103

Speculation caused by exchange fluctuations, 114

Treasury Notes, Indian, interest-bearing, 35

Trevelyan, Sir Charles, 42, 45 note

United States, currency difficulties, 133, 143

Units of currency, tables, 11

Van Don Berg, Mr., 60, 62

Vishram, Hon. Fazulbhai, 276

Walker, Prof. F. A., 143 note

Waterfield, Sir Henry, 189 note, 263 note

Westland, Sir James, 276

Whitaker, A. C., 161 note

Wood, Sir Charles, 63 note, 67 note, 298