Note 28 — Chapter I

The Court of Directors were willing to permit the coinage and circulation of gold unlinked to the rupee, for they had observed in their Despatch:— “16. Although we are fully satisfied of the propriety of the silver rupee being the principal measure of value and the money of account, yet we are by no means desirous of checking the circulation of gold, but of establishing a gold coin on a principle fitted for general use. This coin in our opinion should be called a gold rupee and be made of the same standard as the silver rupee.”