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