Agreed
that we do establish a mint and coin sicca rupees with the name of the Moghul
on one side and the Company on the other, to be of the same weight as Muxadavad
rupees and to pass in the town for 2 p cent more
Public Consultataions
P/1/29, p43 (also numbered p47),
February 14th
That siccas shall be coined at
Allenagar,
Public Consultations
p/1/29, p76
Perwannah of the Nabob Serajah
Dowlah to the Company for erecting a mint in
From the date of the first of the
moon shaboon [
On
the 24th we received a letter from W Watts Esq dated the 18th instant…That he
had the day before [17th April] received a perwannah for coining of
siccas in Calcutta, but as it only mentions Allenagore he returned it, and
hopes to get it altered -that he is
applying for a general perwannah for the currency of our trade in the three
provinces…
[28th
April] The Select Committee lay before the Board Perwannahs for coining siccas
at
The
coiners and others for carrying on the mint business being arrived from
Muxadavad the Board took into consideration the establishing of that priviledge
upon a proper and beneficial foundation, but as it is utterly impossible for
them to judge how it ought to be conducted for the advantage of our Honble
Masters till the method of coining, assaying etc is ascertained and known, the
Board are of opinion that a committee should be appointed to inspect into the
fineness of silver proper for siccas, how much a hundred ounces of the different
kinds of bullion produce and what the charge of coining will be. This, once
known, we can with greater propriety establish the mint under proper
regulations.
Agreed
the President, Mr Frankland and Mr Boddam be appointed to inspect into the
forementioned particulars and report them to the Board as soon as possible
The
Committee appointed for coining of siccas inform the Board a sum of 4000 R has
been coined from
They
likewise lay before the Board the translate of a sunnud obtained of the Nabob
for currency of our business and money
Translation
of a Sunnud under the seal of Jaffer Ally Cawn,
A
Mint is established in
It
being necessary to adjust the batta of siccas in order to pass those we have
received from Muxadavad
Agreed
the underwritten battas continue till the 1st of Nov next as is
hereunder specified
The
first sun siccas at six (6) Arcot
rupees p cent
The
second ditto at eight and half (8
1/2) p cent
The
third ditta at eleven (11) per cent
…
Enclosed they transmitted to us copy & translate of the Perwannah for the
mint and informed us that the opportunity they have had of discoursing with the
Nabob, Juggutseat and Doolabram on the subject of the Company’s concerns,
enable them to explain many points of which we cannot be so well apprized. It
is therefore encumbant upon them to lay the same before us in the clearest
manner, that in the perwannah for the mint we shall observe a general
permission to coin silver and gold into siccas and gold mohurs, their
impression Calcutta, and if their standard and weight be equal to those at
Muxadavad, they are to pass current in the three provinces, be received in the
King’s treasury and meet no obstruction or difficulty [Acct] Cussore or batta,
that they have avoided limiting the coinage to the Company’s own imports of
bullion as permission is allowed to recoin old siccas or any specie receiv’d by
the Company in payment for their sales etc., and likewise gold and silver
imported by the English, but not bullion except maifested by the Company’s
ships. That in Surajed Dowlah’s perwannah we were particularly prohibited
coining gold and silver for foreigners or subjects of the Moghul, this is not
inserted in the present perwannah that our priveledges might not be endangered,
but they are to acquaint [you] this restriction is in full force designed so by
the Nabob, and assented to on their parts, that shipping from various parts of
India frequently import considerable sums in gold and silver appertaining to
merchants of Hughley, Muxadavad, Dacca etc, who are properly subjects of the
Moghul receiving or purchasing this gold or silver so imported, likewise
purchasing or receiving plate or [joys] from the Rajahs, zemindars etc and
coining the same in our mint for them ourselves, tho’ not forbid by the
perwannah is expressly meant and intended, and every act of this nature on our
parts publick or private will be regarded by the Nabob as an infringement and
abuse, as by means of this kind we should in time render the mint at Muxadavad
entirely useless and oblige the Government to recall their perwannah for
Calcutta mint, which was originally designed to benefit the Company and their
dependants in their own proper trade and commerce and not deprive the King of
his duties and revenues…
In
the postscript they request we will send them a few rupees for trial when any
of the new stamp are coined.
Perwannah from the Nawab Mir Jafar
Ali Khan
To the High and Mighty, the bold and
valient Commanders, the greatest of merchants, the English Company in whom may
the King’s favour rest forever. A mint has been established at Calcutta;
continue coining gold and silver into siccas and mohurs, of the same weight and
standard with those of Moorshedabad;the impression to be Calcutta; they shall pass
current in the province of Bengal, Behar, and Orissa, and be received into the
Codganna; there shall be no obstruction or difficulty for Cussore…11th
Zeerlaida [Zilkada] 4th of the King’s reign [= 28th July
1757]
The
Committee appointed for essaying the coinage of the different sortments of
bullion lay before the Board 50 rupees coined from Dollar silver agreeable to
the Perwannah received from Jaffir Ally Cawn
Ordered
them to be transferred to Muxadavad for a trial, and agreed our mint be
established on the same footing as that at Madrass
The
Committee for essaying and reporting the produce of the different species of
bullion in our mint lay before the Board the following essays which they have
chosen from a medium of different trials viz:
Muxadavad
sonnauts fooley lose 1.10.6
Without
the fooley 5.9
New
Mexico Dollars produce 89.12 for 100 sicca weight of bullion
They
further represent that the charge for coining siccas is greater than the charge
of coining Arcot and Madrass, the standard being finer, and recommend the
expense of coining private silver be settled at 25 per mille, 20 of which being
the real charge of coinage and 15 the duty agreeable to the Madrass collection,
5 whereof is to be paid the Company by the Mint Master or undertakers.
The
Board approving of the above mentioned establishment
Ordered
all private silver pay a duty of 35 per mille for being coined in our mint and
Agreed
that Messrs Frankland and Boddam undertake the coining of siccas and mohurs
Ordered
them likewise to send 3050
Ordered
them likewise to supply the mint with 35000 sunnaut rupees and 805
Ordered
them likewise to supply the mint with 50,000 sunnaut rupees
The
gold received from the Nabob being reasonably valued and will, it is imagined,
turn out to advantage in the mint
Ordered
the Committee of Treasury to deliver it out to the Mint Master as they indent
for it to be coined into Fooley Mohurs
The
Committee of works represent to the Board that it will be extremely troublesome
and inconvenient to pay the cowleys, labourers and bricklayers, to be employed
on the fortifications, in cowries. They recommend therefore that copper , brass
or tutenague tickets may be stampt of different values for the payment of those
people, which shall be taken back at the value stamp’d on the respective tickets.
Ordered:
Mr Frankland to stamp a number of such tickets.
Translation
of a Sunnud under the seal of Jaffer Ally Cawn,
…
A mint is established in
Treasury
accounts for October, November, December 1757
Many
entries showing large transactions with the mint
Mint
account for December 1757, Jan & Feb 1758
Dec
220,275; Jan 101,337; Feb 243,890. Submitted by Frankland (Mint Master)
Frankland
resigns
There
being a large quantity of gold mohurs in the treasury which were coined in our mint
with the gold received from the Nabob and being informed they bear an
[advanced] price at Ballasore
Agreed:
one hundered of them be sent to that factory for a tryal
Frankland
provides mint accounts for April & May and is still described as Mint
Master.
At
a Committee meeting called to decide what to do about the letter from the Board
in
We
are of opinion that the orders and regulations relative to the mint be carried
into execution as they stand in the letter from the 124th to the 128th
paragraphs inclusive, without any variation but recommend that the strongest
obligation with a penalty annex’d being taken from the contractor that he shall
not debase the coin and that he likewise agree to send some of the coinage
through the Board monthly to the mint at Muxadavad to be assayed there.
A
few references to mint accounts being refered to the Accounts Committee
Accounts
show William Frankland still Mint Master
Accounts
show William Frankland paid Rs 84.7.2 for 3 months 5 days
Captain
Brohier delivers in a letter to the Board informing us that the coolies &
artificers complain they do not get the real value of the copper money they are
paid in at the bazar. That as the coin is to pass as [….] annas & pice he
requests the Board will order the shroffs & bazar people to receive the
copper coin for the value they are paid by the Compnay at the works, that in
the exchange workmen may receive 54 [pouns] of cowriesfor 16 copper annas,
& the same proportion fro the lesser coins, which he imagines can be no
hardship to the shroffs or bazar as they can always return that money to the
paymaster for rupees.
Ordered
that his letter be entered & that notice be given that thet copper coin
will be received back into the treasury without any loss.
Notice
to be given that after the 23rd inst. Five sun siccas will be rec’d
into the Company’s treasury at 13 p cent batta only and that six sun siccas
will be struck & pass current from that day
Salary
accounts show William Frankland has gone
Agreed
that at every fresh issuing of rupees the siccas of the former year be
restamped at the charge of 6 p cent for coinage and Company’s duty to the
proprietor at whose expense the siccas are to be made to their full weight
should they be deficient.
And
as we find that notwithstanding our frequent application to the Nabob
concerning the want of currency of our rupees in the country from whence many
inconveniencies proceed such as their being frequently refused for goods, the
risk of carrying them from place to place to be exchanged (by which a boat
passing from Malda to Murshudabad with 4000 Calcutta siccas for that purpose
was lost in the Great River) & the loss in exchange. Those evils have never
been remedy’d, the only means to effect it is to gain the Nabob’s consent to
our coining Muxadabad siccas in our mint in the same [way] as Arcot rupees are
coined at
And
as the want of Arcot rupees in the place has raised their value to 3 p cent
above the usual currency & that specie is very useful for many occasions of
the Presidency.
Agreed
we coin Arcot rupees of equal weight & fineness with those of Fort St
George.
Translation
of the Nabob’s Pervannah for a mint in Calcutta
To
the Noblest of Merchants, the English Company, be the Royal Favour. In
Dated
the 11th of the month [Zeehaad] in the 4th year
The
President acquaints the Board he has at last after much solicitation prevailed
upon the Nabob to consent to our coining Murshudabad siccas in our mint.
Agreed
we now establish the mint on the footing directed by the Honble Company in
their commands of 3rd March 1758, that the dollars be valued at the
rate mentioned in the letter of 1st April, but as the bullion of
this country is of no stated fineness arising from the prodigious variety of
coins in the country which are after melted in a heap & offered to be
coined, it is impossible to determine on that.
That
the mint be put up for contract on the same fooring as that at Madras, that is,
the contractor shall bear all the charges of the mint, except the house and
repairs for which he shall receive a certain allowance per cent. & whoever
offers for the smallest allowance, giving sufficient security, shall have the
contract.
The
contractor, there being [no] refin’d standard of bullion in this country, shall
deliver the exact produce of the gold & silver given in to be coined
according to its value by assay, which we shall effect in the best manner we
can for the present.
Agreed
in the meantime we recommend it to the Company to send us out a capable Assay
Master by the first opportunity.
Ordered
the Mint Master to prepare stamps for coining the Muxadabad rupees.
The
Board likewise taking into consideration the subject of the mint
Ordered
the secretary to draw out an advertisement setting froth the conditions and
according to the regulations contained in the Company’s General Letter dated 3rd
March 1758, giving notice that the mint will be put up for contract, which
advertisement he is to lay before us next council day.
The
Secretary reports to the Board that nobody has hitherto made any application or
proposals for the farm of the mint, altho’ it was advertised for the first of
May last
The
Mint Master lays before the Board an account of the receipts &
disbursements of the mint, by which it appears that from the month of January
1760 to the month of April 1761 inclusive, the Company are losers of the sum of
Rs 227.6. This arises from the small quantity of silver brought into our mint
to be coined and from the continued expense we are obliged to be at for the
sake of keeping workmen in the mint, whom if they should be at any time
dismissed, it would be very difficult to get again. That no persons therefore
offer their proposals for the mint farm, is easily accounted for by this
statement before us.
Ordered
the account of coinage to be entered after this consultation.
The
accounts are shown on page 496
|
Sundry
Expenses as per Account Particulars of the Following Months |
By Coinage
as per Account Particulars of the Following Months |
|||
|
Jan 1760 |
542 |
Jan 1760 |
14.6 |
|
|
Feb |
584 |
Feb |
14.7.9 |
|
|
Mar |
891 |
Mar |
588.8.6 |
|
|
Apr |
1926.8.9 |
Apr |
3880.6.6 |
|
|
May |
832.11 |
May |
72.15 |
|
|
Jun |
1200.9.3 |
Jun |
998.9.6 |
|
|
Jul |
1268..6 |
Jul |
2916.15 |
|
|
Aug |
1219.10.6 |
Aug |
2114.6.6 |
|
|
Sep |
1245.10.9 |
Sep |
298.11.6 |
|
|
Oct |
1254.15.9 |
Oct |
1079.15 |
|
|
Nov |
1266.7.6 |
Nov |
1920.14 |
|
|
Dec |
1242.2.9 |
Dec |
278..6 |
|
|
Jan 1761 |
1180.11.9 |
Jan 1761 |
126.15.6 |
|
|
Feb |
1320.4.3 |
Feb |
1561.11 |
|
|
Mar |
1176.6.9 |
Mar |
230.4.6 |
|
|
Apr |
1117..9 |
Apr |
33.9 |
16130.11.9 |
|
|
|
By Nairys
silver sicca wt 2218. 14 is |
1970.2 |
|
|
Total |
18328.3.9 |
Total |
18100.13.9 |
|
NB
extracted from the above Nairys
Lead Mds 22.19 Value 900
Copper Mds 2.38 Value 75
Sicca
Rupees 975
The
stamps for Arcot rupees having been delivered to the Mint Master he now lays
before the Board an account of the produce of 100 Oz of new Mexico dollars
& Arcots Viz
…calculation
comparing number of Arcot rupees and number of sicca rupees produced and goes on:
so
that there is a difference of 1 per cent in favour of siccas
He
therefore requests the order of the Board whether to coin the 50,000 sicca wt
of short weight Arcots which he has on hand, into Siccas or Arcots
As
Arcots will pass current at Dacca, Luckypore and some of the Aurangs equal with
the Sicca, there will yet be a gain of 7 per cent by employing the Arcots on
all such occasions and it is therefore resolved to pay the military in future
in Arcots instead of sonauts, which through the scarcity of the other specie
have been used for some years past without any deduction of batta so this will
be a further considerable saving.
Ordered
therefore that the Mint Master coin all the short wt Arcots with all possible
expedition, and that he take all opportunities of purchasing bullion for that
purpose
The
Mint Master sends in his bill amounting to Rs 15916.1.3 for the purchase of the
bullion
Ordered
the Committee of Treasury to discharge it.
The
Mint Master sends in a bill for the purchase of bullion amounting to Sicca
Rupees 13013.14
Ordered
the same be paid out of the Treasury
There
being several parcels of gold which the proprietors are desirous of coining in
the Company’s mint & there being at present no servants in the mint
acquainted with the coinage of gold
The
President is desired to write to Muxadabad to procure such as may be necessary
and the Mint Master is sent for and directed to lay before the Board an
estimate of the charges of gold coinage in order that the charges and customs
thereupon may be settled in proportion to the silver coinage which has already
been done.
The
Mint Master delivers in the estimate of coining one hundred gold mohurs valued
at fourteen hundred Arcot rupees as follows:
Materials 1.2
Artificers 5.3
-----
6.3
The
charges of the coinage appearing to be somewhat less than one half per cent
It
is agreed that the coinage be fixed at one half per cent and for duties one
half per cent which last half to be divided in the same proportion as that duty
on silver, viz two fifths to the Company, two fifths to the Governor and one
fifth to the Mint Master.
Three
sun siccas having been struck at Murshedabad agreeable to the notice before
given us by the Nabob as per Consultation December.
Agreed
that three sun siccars be issued in out mint and become current the 20th
of next month. That advertisement be made thereof, and that two suns will be
reduced to thirteen per cent and all others to sonauts.
Agreed
that the Committee of Treasury be directed to deliver to the Mint Master all
the two sun siccars to be restamped into three suns and that the Mint Master be
directed to get as many struck as possible against the 20th
February.
Agreed
we write to the several subordinates to acquaint them thereof.
The
Mint Master representing there is a vast quantity of money delivered to him
from the Treasury to be recoined in order to prevent the loss of batta, which
it is not in his power to get done while private merchants send in money daily
to be recoined also.
Ordered
him to defer coining for the private traders till he has finished the whole of
the Company’s money delivered him from the treasury to be recoined.
The
Mint Master sends in the following report of the German Crowns viz
Crowns
marked KB
100
ounces produces sicca rupees 235.1.6
Batta
at 16 per cent 37.9.9
272.11.3
Deduct
½ per cent for coinage and duties 12.4.3 260.7.
Crowns
with the arms of
100
Ounces produce sicca rupees 224.9.6
Batta
16 per cent 36.15
260.8.6
Deduct
for coinage and duties as above 11.11.6 248.13
The
mint Master sends in his report of assays on the 6 sun Arcots from
The
Mint Master acquainting the Board that the chief part of the Company’s money is
now coined
Agreed
the mint be opened to the coining of private silver and refining rupees, but
that no less than 10,000 rupees be received in at a time to be restruck.
Ordered
the Mint Master to purchase whatever bullion he can to be coined into Arcot
rupees for the payment of the troops.
The
Governor having acquainted Mr Amyatt by letter that the Nabob has struck four
sun siccas in the mint at Moorshedabad
Agreed
that we likewise order siccas of that year to be struck in our mint to be
current at 16 per cent batta on the 1st of February next, after
which three sun siccas to be received into the Treasury at 13 per cent only
& the rupees of all former years to be esteemed as Sonauts.
Ordered
that the Secretary to give publick notice accordingly, and that the Committee
of Treasury be directed to send to the mint to be re-stamped all the three sun
siccas that may remain in the Treasury after the 25th January
Agreed
that we write also to the several subordinates acquainting them thereof for
their guidance in their business & in the receipts of the revenues.
The
Board thinking it necessary to take into consideration the subject of
re-stamping rupees
Ordered
the Secretary do summon the Mint Master to attend the Board next council day
for that purpose.
The
Board now taking into consideration the practice of re-stamping rupees in the
Company’s mint, and the many complaints made thro-out the country regarding the
Calcutta Siccas, apparently owing to the custom of re-stamping, which as it
draws the rupee broader & thinner & leaves the stamp less perfect &
distinct, renders it very [easy to] distinguish them from the rupees struck at
Moorshedabad, & obstruct their currency – think proper to prevent in future
the many bad effects, which arise therefrom, to call upon the Mint Master’s
opinion concerning the expense of recoining siccas.
The
Mint Master being present at the Board gives it as his opinion that the expense
of recoinage will turn out to be about 1Rs 6As per cent
Loss
by melting about 16 Annas of which about 4 annas will afterwards be recovered
out of the dross – 12
Mint
Charges 10
It
is therefore agreed to abolish the custom of re-stamping & instead thereof
to recoin in the mint all rupees of the sicca standard at the rate of 2 ¼ per
cent – whereby there accruing a profit of 14 annas
Ordered
that eight annas thereof (the same sum that was gained by re-stamping) be paid
to the Company – and the remaining six annas to the Mint Master
Ordered
further that public notice be given of this alteration and that on account
thereof the date for the 4 sun siccas becoming currect is prolonged to the 15th
February
Ordered
likewise that a copy of this minute be transmitted to the Mint Master for his
Government
Translations
of all the various grants from Emperors and Nawabs.
Treaty
signed by the Old Nawab (Mir Muhammad Jafir Khan) before the British restored
him
9thly
I will cause the rupees coined in
Ordered
further that the Secretary do direct Mr Beaumont to lay before the Board a
statement of the mint during the time he has had charge, in which he must debit
all the charges of coinage & servants and credit the receipts for duty on
money coined and the produce of the dross (called here nyara) so as to shew the
Company’s net profit or loss arising in that branch.
Mr
Anselm Beaumont sends in a letter as Mint Master containing an answer to the 35
paragraph of the Company’s General letter regarding the standard of rupees.
Ordered
that his letter & the accnt be entered after cons. And that a copy of each
of them be transmitted home in the Osterley’s packet for the observations of
the Court of Directors.
Letter
from Anselm Beaumont (Mint Master) to
According
to your orders I herewith deliver in a statement of the mint from the time that
office has been under my direction, an account of the mint charges with the
duty & custom received on coinage,,likewise an account of what treasure has
been coined on account of the Honble Company by which they will see at one view
the whole advantages that have accrued them by their mint at Fort William, over
and obove the coinage of their treasure for which no charge has been made. In
answer to the 35th para of the General Letter I must beg leave to
assure you that the mint has ever commanded my strictest attention, but (as the
Honble Company have been before advised) for want of proper materials and
utensils, assays cannot be made with the greatest accuracy, but the strictest care
has been ever had to keep the Calcutta rupee up to the same weight and fineness
as what are coined at Moorshedabad and Mongheer.The small deficiency in the
weight of the Arcot rupee may have been occasioned by the air affecting the
balance at the particular time of weighing those rupees sent home, but cannot
be general as from the manner of delivering money from the mint, which is by
weighing one hundred rupees at a time in the most exact scales that can be made
in this country, If every rupee was deficient ever so small a fraction, it
would appear evident and be too considerable not to be complained of. I cannot
help observing the great difference of the assay of the rupees sent by the
Hawke, as the Calcutta sicca rupees as well as the Calcutta Arcot rupees were
coined under my immediate inspection, and the Calcutta sicca rupees were all
coined from ingots of silver of one and the same melting, the Calcutta Arcot
rupees were likewise coined out of ingots of silver of one and the same
melting, of that standard, so that I cannot comprehend how so great a
difference can arise as appears by the reports from the Tower.
Cash
Paid into the Hobble Company’s Treasury
[There
are other tables but this seems to show the amount, by value, coined in the
Calcutta Mint under
|
|
|
|
||
|
|
Rs |
As |
? |
|
|
September
1761 |
67,840 |
|
|
|
|
Oct |
26,460 |
|
|
|
|
Nov |
60,912 |
|
|
|
|
Dec |
53,521 |
9 |
|
|
|
January
1762 |
143,173 |
7 |
|
|
|
Feb |
133081 |
11 |
9 |
|
|
Mar |
361,780 |
8 |
9 |
|
|
Apr |
594,308 |
3 |
|
|
|
May |
89,891 |
9 |
|
|
|
Jun |
158,118 |
8 |
3 |
|
|
Jul |
92,826 |
11 |
9 |
|
|
Aug |
66,379 |
4 |
6 |
|
|
Sep |
19,999 |
9 |
|
|
|
Oct |
108,703 |
11 |
3 |
|
|
Nov |
69,020 |
11 |
|
|
|
Dec |
98,440 |
|
|
|
|
January
1763 |
36,720 |
|
|
|
|
Feb |
8,424 |
|
|
|
|
Mar |
131,280 |
|
|
|
|
Apr |
170,160 |
|
|
|
|
May |
131,578 |
2 |
6 |
|
|
Jun |
83,075 |
10 |
6 |
|
|
Jul |
17,822 |
2 |
9 |
|
|
Aug |
22,995 |
5 |
9 |
|
|
Sep |
13,218 |
2 |
|
|
|
|
|
|
|
2,859,730.15.9 |
The
Nabob having advised the Governor that 5 sun siccas have been issued in his mints
of Moorshedabad & Patna
Agreed
that siccas of that year be also struck in our mint to become current at 16 per
cent batta on the 25th of next month after which 4 sun siccas to be
received into the Treasury at 13 per cent only & the siccas of all former
years to be esteemed as sonnauts
Ordered
the Secretary do give publick notice accordingly by a written advertisement
& beat of Tom Tom and that he do send direction to the Mint Master for
striking the new siccas and recoining all 4 suns which may be sent to him from
the Treasury; and to the Committee of Treasury to deliver in to the mint to be
recoined all the 4 suns which may remain in the treasury after the 20th
of next month.
The
surveyor lays before the Board a plan which he has drawn up for an Assay Office
by order of the President
Agreed
it be carried into execution
The
Mint Master reports that it being customary to receive Bombay rupees as
bullion, the charge of recoining which is 4 ½ per cent, several merchants,
proprietors of these rupees have complained of this as a hardship alleging that
the Bombay rupee is equal in fineness to the sicca and that they ought in justice
to be recoined on the same terms as sonnauts. That he therefore directed the
Assay Master to make an assay of the Bombay rupee that the Board might
determine on the merchants complaining & he accordingly now lays before
them the Assay Master’s letter & assay, which being ordered they be entered
Agreed
the matter do lay for further consideration.
Letter
from the Assay Master (Alexander Campbell)
to the Mint Master (Samuel Middleton), date
Agreeable
to your intimation of the order of the Honble Board, I have repeated the trials
I had made of the
One
thing I must beg leave to observe, it is that in respect to the different
species & their dates, I am forced to depend entirely on the credit of the
mint banian & shroff who can have no view, I apprehend, in deceiving me as
they are unacquainted with the reasons for my proceedings, but I must assure
you that all the assays I have reported were not only made with the greatest
care & attention, but repeated whenever my report differed from the
estimation in which the rupee is held & the established batta.
I
should have observed that the sicca in some measure compensates the deficiency
in fineness by exceeding the
The
following reports appear in the order in which the assays were made
|
|
Dwt |
Grs |
Os |
|
Old |
13 |
18 |
|
|
New |
13 |
6 |
25 |
|
|
6 |
6 |
|
|
Gold Arcot |
3 |
6 |
|
|
Bad Arcot |
3 |
|
|
|
|
13 |
22 |
|
|
Another
Coinage of the same rupee |
13 |
13 |
44 |
|
|
3 |
11 |
|
|
Old
Muxadabad Sicca |
14 |
16½ |
|
|
5 sun
ditto |
13 |
1 |
|
|
3 sun
ditto |
13 |
1½ |
|
|
New |
13 |
9 |
25 |
|
Old |
12 |
12 |
|
Mint
Master’s report on bullion – crowns assayed and purchases, Duccatoons to be
melted etc. The report on the assay is facing p382 (Sam Middleton Mint Master)
Bengal Public Consutations. IOR P/1/37, p390.
It
is further agreed that Mr Marriott on his return shall take upon him the
offices of Import Warehousekeeper and Mint Master vacated by Mr Middleton’a
appointment to the residency at the Durbar.
Bengal Public Consutations. IOR P/1/37, p400.
The
President acquaints the Board that he was some time ago informed by the Nabob a
report had been made to him that the rupees coined in our mint had fallen below
the standard of those coined at Moorshedabad which, being a matter of the
greatest consequence to be enquired into, that he (the President) wrote to Mr
Senior who has sent him down 20 rupees of four different meltings from the
Moorshedabad mint, which he now lays before the Board, with 20 other rupees
taken promiscuously from our mint.
Ordered
that the Assay Master do make an assay of the whole in the presence of our Mint
Master & the Nawab’s Chuckshy in order to ascertain the justice of this
complaint from the Nabob & that the Assay Master do afterwards make his
report to us in writing.
Bengal Public Consutations. IOR P/1/37, facing p422. 12 th November 1764
The
Assay Master’s report shows little difference but the Calcutta Siccas are
slightly better
Bengal Public Consutations. IOR P/1/37, p425.
Mr
Leycester applies to be appointed Mint Master in the room of Mr Marriott
The
president observes that the mint on its present footing is attended with
greater charges & loss to the Merchants than accrue if the Mint Master was
versed in the knowledge of refining & mixing, with the other process of
coining. It is therefore his opinion that the Assay Master, Mr Campbell should
be ordered to take charge of the mint & fix the value of the several sorts
of bullion usually brought to Bengal and to propose and lay before the Board
regulations for lessening the present loss and charges of the proprietors of
bullion, whereupon the Presidency establish such rules as shall seem requisite
for the better conducting that office.
Ordered
that the Assay Master do accordingly prepare these regulations and lay them
before us as soon as possible.
Agreed
that Mr Leycester be appointed Mint Master in the mean time
Bengal Public Consutations. IOR P/1/37, facing p442.
Letter
from the Assay Master (Alex Campbell) to Bengal Council, dated
Pursuant
to your order transmitted me by the secretary I submit to your opinion a plan
of regulations for the mint, to receive such alterations and amendments as to
the Honble Board shall appear necessary.
1. That
books be kept open in the Assay office at regular stated hours in which shall
be entered the receipt, delivery, assay and produce of all moneys sent to the
mint, in so easy and distinct a manner that every proprietor of bullion may be
satisfied by inspection that he has received the full produce. The utility of
this regulation which has hitherto been totally neglected, is evident, as by
resting the whole on the Mint Master and rendering him responsible, it not only
deprives the minters of every opportunity of committing frauds but likewise
gives reputation to the mint by the fairness and equity of the proceeding.
2. 2.
That all bullion be of sufficient purity to be coined into siccas or Arcots
without the process of refining, be issued within 15 days after the receipt, or
to the amount of 22,000 Rs per diem when it shall happen that larger entries
are made than can possibly be coined in the time limited. In the neglect of
this obviously useful regulation, consists one of the principal defects of our
mint, which has brought it into some degree of disrepute & occasioned
repeated, fruitless complaints.
3. 3.
That whereas in the present imperfect state of our coinage not more than 2000
sicca weight of bullion can be refined in one day, the Mint Master shall, in
order to avoid the loss, charge & delay consequent on this tediuos process,
undertake to issue siccas or Arcots at the option of the proprietors to the
amount of 11000 per diem provided the bullion to be coined into Arcots does not
exceed 14 Dwts nor that for siccas 7 Dwts worse than English Standard. This
regulation, which will be attended with little difficulty to a person well
acquainted with the methods of assaying & mixing metals will save half the
time, charges & loss incurred by refining bullion as is now practiced, of
much greater purity than is here specified.
4. That
for refining bullion of a lower standard (of which no vary considerable
quantity is imported), there shall be erected under the direction of the Mint
Master, flues, furnaces, [fests?] & the other necessary apparatus for
refining, that this branch of the coinage may be conducted as in Europe whereby
a saving of one, two or more per cent agreeable to the purity of the bullion
will accrue to the merchant, as is demonstrable from the assay, besides a
reduction in the wages paid to servants who will then be unnecessary.
5. But
as some time must be allowed for establishing an undertaking attended with
considerable trouble & labour in a country where the process is utterly
unknown, the Mint Master shall in the meantime apply the only possible remedy
to this capital defect in the present method of refining, by adjusting to the
purity of the metal the quantity of lead to be used in [Fluesing?] and
directing the due management of the fire, in which [con…?] the great art of
assaying and refining. By this single regulation it is evident a saving will
ensue to the merchant, when the money refined happens to differ from the
required standard; a case that must frequently occur & of which there is
now an instance in the mint
6. That
as soon as a competent number of assays can be made, the prices for all bullion
usually imported shall be adjusted with the most scrupulous exactness to the
mint produce and assay, whereby the merchant may judge at a glance of his eye
whether he shall reap more advantage by disposing of his bullion to the mint
for ready money or by waiting the time prescribed for coinage.
7. That
previous to adjusting the price of bullion, it will be expedient to fix upon
some invariable standard for the sicca by which alone the real value of bullion
to the purchaser can be ascertained, the iniquitous practices of shroffs in
enhancing the price of silver beyond its intrinsic worth prevented & the
frivolous unjust clamours raised by artifice against the quality of the
Calcutta rupees effectively silenced.
8. That
the Mint Master shall introduce some improvement in the method praticed of
casting bullion into ingots, whereby a considerable loss ensues to the
merchant, distinguished among the minters by the name of nearah.
9. That
an immediate reduction take place of the monthly charge incurred by unnecessary
servants about the mint, a charge which in the space of three years has
increased, if I am not mistaken, from little more than twenty to thirty six
thousand rupees per annum & which will continually decrease as the mint
approaches perfection.
10. That
all the necessary regulations for the coinage of gold be established with the
same degree of accuracy & to the same advantage as silver. A branch of
mintage with which we are at present perfectly unacquainted [with] to the great
prejudice of merchants who are obliged to dispose of their Chquins & Ducats
to considerable disadvantage or run the hazard & expense of sending their
gold to be coined at Muxadabad, by which the Company also are deprived of their
duties
Such,
gentlemen, are the regulations which I beg leave to prepare, to the execution
of which I am ready to bind myself by any penalty the Honble Board shall
prescribe, should a regard to my own reputation & the publick good be
deemed insufficient security. In the meantime I shall take the liberty of
observing, without intending any reflection on the gentleman now charged with
the office of Mint Master for whom I entertain great respect, that no positive
benefit can arise to the Company or the Publick from the appointment of an
Assay Master unless either he conducts the whole business of the mint or acts
in concert with a Mint Master equally qualified with himself in the several
branches of coinage. If his reports be not understood they are useless, if they
cannot be followed or observed they are superfluous, & the Company has
incurred an unnecessary expense by his appointment & by erecting an assay
office while the coinage goes on in the old track in the hands of the natives,
Subjected to all those abuses flowing from ignorance, which it was intended he
should redress.
These
however are points on which it may be unbecoming in me to enlargeas they will
undoubtedly be very maturely considered by the Honble Board.
Bengal Public Consutations. IOR P/1/37, facing p449.
The
Board having now again read the regulations proposed by Mr Campbell, the Assay
Master, for the better conducting the business of the mint entered on last
Consultation, are of the opinion that he should be appointed Mint Master and
have the whole charge of the process of the coinage with directions to proceed
with all possible expedition in establishing the regulations proposed for the
benefit of the merchants and so necessary for supporting the credit of the
mint. That he be ordered to lat weekly reports of the receipts and issues of
the mint before the Board for their inspection & it must be the care of the
Boardto send for some of the rupees from the mint frequently to be transmitted
to England to be there assayed. They are further of opinion that Mr Campbell in
consideration of the additional advantage should be immediatley required to
instruct two of the Company’s covenant servants who shall be appointed by the
Board in the art of assaying and refining that they may be ready to take charge
in case of accidents.
Mr
Campbell is accordingly appointed Mint Master.
Bengal Public Consutations. IOR P/1/38, p45.
Long
letter from the Mint Master (Campbell) expaining where he has got to with the
implementation of his regulations
Bengal Public Consutations. IOR P/1/38, opposite p151 also numbered
p298.
The
sub-treasurer applying for our orders how to dispose of the three caties of
gold paid in by Captain Lindsey of the Hibernia Snow for the Opium saved out of
the Company’s ketch, Nancy, lost in her way to Fort Marlbro’
Agreed
and ordered he do send them to the mint to be coined into gold rupees.
Pridmore
p188.
I will cause the rupees
coined in Calcutta, to pass in every respect equal to the siccas of
Moorshedabad, without any deduction of batta; and whoever shall demand batta
shall be punished.
Bengal Public Consutations. IOR P/1/38, opposite p345 also numbered
p687.
A
long letter from the Mint Master about batta and how difficult it would be to
deal with
Bengal Public Consutations. IOR P/1/38, p370 also numbered p737.
The
accompanying accounts will explain the advantages to the Company & the
publick arising from the late regulations established in the mint for the
particulars of which I had the honor to present to the Board in the month of
January last.
It
is difficult to render descriptions of the several processes used intelligible
to persons who are not conversant with the business of coinage. I apprehend
therefore the most satisfactory exemplification of the above regulations will
be to show that they are profitable. Accordingly I have stated the charges and
profits on coinage for this & the preceding year, by comparing which it
appears that a clear gain of 461399.11 arises from the mint, besides the duty
to the Governor & Mint Master, and the profits are encreased this year to
the amount of 18887.3.6
Og
this sum the Company gain by duty & the extraordinary produce of their own
moneynear 13,000 rupees & the merchants the remainder, being a neat [nett?]
gain more than ever produced at any former period.
It
further appears from the accompanying accounts that the Company’s own coinage
for this year exceeds that of the proceeding by 856,599.13.3 besides near
double this summ of encreased coinage for the merchants as is evident from the
encreased dutys. Yet are the extraordinary charges for coinage no more than
2053.8.8. Hence it is demonstrable there must have been a great reduction of
charges, an article which likewise ought to be brought to the Company’s credit.
All
these particulars will be further explained by the assay book, which I now have
the honor to lay before you. This diary shows the daily issue and receipt of
money , the time it is detained in the mint, the fineness of the metal entered
& the neat [nett?] produce delivered. By this measure every proprietor of
bullion is enabled to determine whether he has received the full amount either
by comparing the produce with the assay, or with the produce of the same money
at the mints of Bombay & Madras, which will prove the easiest method unless
he is skilled in calculations of this nature.
Permit
me, my Lord & gentlemen, to request that the papers which I now lay before
the Board, the memorial I delivered in January last, the assay book, & my
letter to the Select Committee on the subject of batta now before you, may all
be transmitted to England by the Admiral Steevens, where by consulting the
Tower office, the Honble Court of Directors may be satisfied of the nature of
the improvements I have made,and how far my appointment to the direction of the
mint has answered expectation.
I
must beg leave to observe further that I begin the accounts from the month of
June in order to complete the year, altho’ I was not appointed Mint Master
until the month of November. Yet, as Mr Middleton left the whole business to my
direction,I claim to myself the merit of all advantages obtained for the
Company from the time I first took charge of the Assay Office.
Bengal Public Consutations. IOR P/1/38, p427 also numbered p851.
Resuming
now the consideration of the Mint Master’s letter to the Select Committee
refered to the Board in Consultation the 25th ultimo
Agreed
that the siccas of the present year be struck in our mint & that the
President do therefore write to the Nabob to enquire when they will be issued
at the city, that they may be circulated here at the same time.
Ordered
that the Mint Master be further advised hereof
Bengal Public Consutations. IOR P/1/38, opposite p449 also numbered
p895.
The
Mint Master sends in a letter recommending as the currency of Arcot rupees
coined here are greatly obstructed on account of their bearing the name &
titles of the late King, altho’ it cannot be denied that they are of equal
intrinsic value with the Madras Arcots, that we will write to that Presidency
for the stamp used in their mint.
He
also sends in the statement of the bullion agreed to be purchased at our last
meeting.
Ordered
the letter & statement to be both entered, and
Agreed
we apply in our next letter to the Gentlemen at Fort St George for the required
stamp.
Finding
that siccas of the present year have been already issued from the Nabob’s mint
at the city
Agreed
the President do write to His Excellency requesting he will immediately stop
the circulation of them & order them
to be issued on the 1st of next month that they may be passed from
our mint at the same time, and
Ordered
that the secretary do give the necessary & usual notice to the Mint Master,
sub treasurer & the inhabitants.
Bengal Public Consutations. IOR P/1/38, opposite p461 also numbered
p918.
The
letter from Campbell about the Arcot rupees
…it
is [a] pity therefore that they should pass at a discount merely on account of
the impression [i.e. in the name of the old king].
Bengal Public Consutations. IOR P/1/38, opposite p520 also numbered
p1037.
Finding
that siccas of the 7th sun of his present Majesty’s reign have been
issued from the Nabob’s mint, as well as the 6th suns.
Agreed
the same be also struck & circulated from our mint at the same time, &
to prevent the inconveniences & difficulties which would arise from falling
in the usual manner the siccas of the 6th sun so lately coined to
the batta of 13 per cent
Resolved
further that those rupees shall pass at 15 per cent till the 1st
March and from that time till the 1st June at 14 per cent after
which they shall pass current at 13 per cent batta and the rupees of the 5th
sun which are now at 13 per cent also then fall to sunnauts at 11 per cent.
Bengal Public Consutations. IOR P/1/39, 454.
Mr
Campbell the Assay Master being called before the Board reads the regulations
proposed by the Committee for establishing a gold coinage. Whereupon they
observe it is proposed that the par of exchange between the new gold mohur and
the silver sicca rupee shall 15 to 1, which they think too considerable a
profit to the merchants & prorietors for bringing their gold to the mint,
and are of opinion that the proportion of 14 to 1 which will yield a premium
above the par with silver about 8 per cent, will be a sufficient encouragement
to them for that purpose. The Assay Master being thereupon directed to make the
said alteration digests the whole into the form of a letter which is oredered
to be entered hereafter. The other part of the regulation pointed out by the
Committee being entirely approved.
Ordered
that the said regulations be communicated to the Resident at the Durbar with
directions to put them into execution as soon as possible, and that public
notice be also given at this Presidency for that purpose.
But,
contrary to the end proposed by this plan for stablishing a gold currency, it
should encourage the exportation of silver to the northward. It will be
necessary to guard as far as we are able against such a circumstance.
Agreed
therefore that it be recommended to the Resident at the Durbar to procure
proper orders to the Chokies on the boundaries of these provinces strickly to
prohibit all exportation of silver.
Letter
from Campbell to Calcutta Council, dated
In
obedience to your commands, I have now the honor to lay before you the plan
adopted by the Select Committee and approved by the Ministers for establishing
a gold currency to obviate the scarcity of money which so large an annual
exportation of bullion to China must necessarily produce.
The
scheme hath already been intimated to the Nonble the Court of Directors, not as
an effectual remedy, but a palliative that will obstruct the progress of the
evil until a more radical cure be discovered.
To
give such encouragement to the importation of foreign gold, and advantages to
the natives, who hoard up and secrete this metal, as might induce them to apply
their useless treasures to the publick benefit, were the great objects of the
Committee.
The
difficulty lay in fixing upon such a rate of exchange as should answer the
intention of bringing gold to the treasury without reducing silver below that
natural value which it bears in most kingdoms in Europe, since this
circumstance might be productive of inconvenience at home. Gold being mearly a
merchandize in Bengal, and the quantity of it already contained in the country
very uncertain, it was thought proper to make the mean rate of exchange in
Europe the principle upon which the following regulations for a gold currency
are calculated.
1. That
a gold mohur shall be struck bearing the same impression with the present
Murshidabad sicca & that this mohur shall also be issued in the
subdivisions of halves, quarters and eighths.
2. That
the new coin shall be of the fineness of 20 carots; or it shall contain 1/6th
part of an alloy, which reduces it to Rs 16-9-4 per cent below the value of
pure gold, to 13-7-7 below the mean fineness of the sicca & Delhi mohurs,
& to 8-2-2 1/3 beneath the standard of the present Arcot gold mohur. The
reasons for fixing upon this standard are that it is deemed the most convenient
for allowing the proposed encouragement to the merchants & prorietors of
gold, and likewise for avaoiding the great delay and expense of refining in a
country where the process is not understood and the materials for conducting it
are obtained with difficulty.
3. That
the gold mohur shall be encreased from 15 anas, the present actual weight of
the Arcot, to 16 anas, the better to avoid the inconvenience of fractional
numbers in the subdivisional parts, and the exchange.
4. That
the par of exchange between this gold mohur and the silver sicca rupee shall
for the present be estimated at the rate of 14 to 1, reckoning upon the
intrinsic value of either. Thus a gold mohur weighing 15 anas shall be
equivalent to 14 sicca rupees.
You
will perceive gentlemen, that a discount of 1 in 15 or 6-10-8 per cent is now
made on the exchange proposed by the Committee in order to obviate the very
reasonable objections which the Board made to the exhorbitant profits assigned
to the merchants & proprietors.
5. That
the silver sicca rupee shall not be less than the standard of 11 Oz 15 Dwt or
13 Dwt better than English standard whence will arise
A
profit to the merchant of gold 3 per
cent
A
batta on the gold mogur 3 per
cent
A
charge for coinage and duties 2 per cent
8
per cent
which
increased value is calculated from the generally received exchange of gold
& silver, and not upon the market price of gold, which fluctuates daily.
6. That
all payment whether of a publick or a private nature shall be made at the
established batta, and that every attempt to make an artifial batta or exchange
shall be rigorously punished.
7. That
a tender of payment either public or private shall in future be equally valid
in gold & in silver; and that a refusal of the established gold currency
shall incur such punishment as this Board may think proper to inflict.
8. That
publicly notice shall be given to all Zamindars, Collectors of revenue &
others, that the collections may be made indiscriminately in gold and silver,
the former to be received at the mint & Treasury at the rate proposed in
the 2nd article, that is the sicca and delhi mohurs to be recoined
with an alloy of 13-7-7 and the Arcot mohur with an alloy of 8-2-2 1/3, which
will produce agreeably to the principle of exchange laid down, the advantage
proposed in article the fifth.
These
gentlemen are the articles proposed by the right Honble the President & the
members of the Select Committee, upon which I shall beg your permission to
offer the following remarks.
The
establishing a gold currency in the country appears to me the only practicable
method of abolishing that pernicious system of reducing the batta on sicca
rupees annually. There being now a fixed standard of value for silver, that
metal must in time necessarily settle at the precise point which determines the
proportion it bears to gold.Neither will the scarcity of any species of specie
affect the batta, since the gold currency will always afford the means of
payment without loss by the exchange. The batta of the mohur being invariable,
will soon render that of the the silver invariable also, or else the principle
of exchange will be destroyed, and of consequence the profit to the merchant
will become precarious. This effect, I think, must necessarily flow from the
full establishment of a gold currency, and were there no other advantage
attending it than the reducing to a first determinate value the great variety
of coin with which the business is distracted in this country, that alone would
be well worth the experiment.
It
will be absolutely necessary that the utmost care be taken to prevent any
debasement of the fixt standard of the gold mohur which is already rated so
high in the exchange. I should myself apprehend that a fraud of such dangerous
tendency to publick credit should be punished with death; and as the English
laws will not authorize so rigorous punishment for adulteration of the current
coin of Great Britain, that the laws of the country should take place. Your
regulation on this head should be published in the mint at Moorshedabad and as
a futher check on the coiners, the Resident might be required occasionally to
send down specimens of the money to be assayed in Calcutta.
I
should likewise imagine that severe penalties should be annexed to the
secreting, defacing, clipping or melting down the new coinage, & that the
same together with the punishment to be inflicted on every attempt to vary the
batta or obstruct the currency should be promulgated in every district of the
Nabob’s dominions.
Bengal Public Consutations. IOR P/1/39, 589.
The
regulations for establishing a gold currency which were proposed and approved
in consultation the 2nd June having been publickly advertised at the
Presidency
Ordered
that the same do take place at the several subordinates & that they be
wrote to accordingly. Also that the advertisement be entered after this
consultation.
By
Oder of the Prsident & Council,
Notice
is hereby given that in order to obviate the inconvenience arising from the
prevailing scarcity of silver the Right Honble the President & Council have
come to a resolution to establish a gold currency upon the following plan
That
a gold mohur be struck of the fineness of 20 carots and 16 annas in actual
weight which shall be received in all payments publick and particular at 14
sicca rupees each.
That
for the convenience and dispatch of business this coin shall be issued in the
subdivisions of halves, quarters and eighths which are to bear the same
proportional value as the mohur.
By
this par of exchange between gold and silver there will accrue an advantage of
8 per cent on the actual value of gold and more in proportion of its purity
according to the medium of the market price on all mohurs, Chequins, Nadarees, gold
ingot [Dush] etc that shall be brought to the treasury, which is intended as an
encouragement for the importation of that metal.
In
consequence of these measures for establishing a gold currency, the publick
revenues and all payments to the Honble Company will be received
indicriminatley in gold and silver, and a tender of payment in all money
transactions both publick and private shall be equally valid in the new gold
mohur as in any species of silver rupees.
It
appearing to the Prsident & Council that many advantages will result to
merchants and the publick in general from the foregoing plan, it is herebt
directed to take place from this day, and the Mint Master and sub-treasurer are
accordingly directed to receive all gold offered to coinage or payment after
the same hath been assayed and the value settled to the satisfaction of the
merchant agreeably to the above regulation.
Notice
is herebt given that any person or persons discovered in attempting to make a
variation in the exchange between gold and silver or in obstructing the
currency of the new coin by refusing to accept it in payment, if natives they
will be delivered up to the Government to be punished with the utmost severity,
if Europeans they will forfeit the Company’s protection and be sent to England
forthwith.
Any
person or persons detected clipping melting down the new gold currency or
attempting the exportation of silver to the northward will also be subject to
the penalties aforesaid.
Bengal Public Consutations. IOR P/1/41, 46, 1017.
Letter
from Campbell to Calcutta Council
I
have the honor to lay before you the assay book and mint accounts for the year
1767. These will clearly explain the amounts and increase of coinage
notwithstanding the small quantity of bullion imported, & I hope that they
will demonstrate that the business is now reduced to as much order and carried
on with as much dispatch as the nature of the climate and the disposition of
the people will allow.
I
have entirely abolished the old method of refining and remelting and introduced
one equally simple but better suited to [th…] of the climate, more calculated
to prevent frauds in the workmen & more adapted to the purposes of varying
expedition in business.
In
the coinage of gold I have been less successful nor can any material alteration
be made without effecting […] change & refining as they do in Europe by
means of spirit of [nitrate?] or antimony which in my opinion will not answer
upon the amount of the expense of sending out materials and the danger which
will atend the process amonst an ignorant careless sort of people. It was for
this reason the Board thought proper to fix the new gold mohurs at so low a
standard as might in general avoid the necessity of refining.
Having
accomplished all that was proposed when I took charge & deposited with Mr
Bentley the fullest instructions upon every difficulty that may occur, I am to
request your permission to resign the assay office to that gentleman […] in the
space of three years during which he acted as my assistant he has acquired so
perfect a knowledge of the business as will enable him to conduct it to your
satisfaction.
The
mint being entirely cleared and all payments made and accounts brought up to
this day, I must also request your leave to resign the employment of Mint
Master & the favor of your directions to whom I shall deliver over the
charge of the office.
I
have already acquainted the Honble President and the members of the Select
Committee with the necessity I am under on account of my health & the
circumstances of my affairs of proceding this season to Europe. May I be
permitted to solicit your orders to Capt Perry for securing on board the Europa
myself & family & effects…
Agreed
that he be permitted to resign his employments of Mint & Assay Masters
& that Mr Alexander be appointed to take charge of the former & Mr
Charles Bentley the latter.
Bengal Public Consutations. IOR P/1/41, 839.
The
62nd paragraph of the Honble Company’s General letter dated the 21st
November is now read as follows
Mr
Campbell’s remarks on the inconveniences which would arise on the fixing the
sicca on a permanent footing do not carry any other conviction than that of a
temporary inconvenience from the distress it would bring on the shroffs and
others who live by the exchange on siccas. We are not convinced it would
occasion more frauds in debasing or false coining of rupees & we therefore
recommend it to you to take the subject once more under your consideration.
Mr
Campbell’s letter on which the Court of Directors make the above remarks is now
read as entered in the consultations
The
Board observe hereon that the fluctuations of the batta on sicca rupees has
more than once been the subject of their most serious consideration and every
member seems to be equally convinced of the universal benefit that would arise
from its being rendered of a permanent value and that their debates on this
point have always rested in the proposition of the manner how to carry such a scheme
into execution. Further that the great scarcity of silver which at present
prevails throughout the provinces is one among the weighty reasons against
attempting anything of the kind at this time; but as their utmost wishes are
that one day or other it may be effected.
The
Board recommends to the President to collect the sentiments of the ministers on
this subject as well as to gain every other information he can, that they may
be as satisfactory as possible in their answer to the Honble the Court of Directors.
Bengal Public Consutations. IOR P/1/43, 18th January 1768,
facing page 26
Agreed
that Mr James Irvin and Mr John Haliburton be appointed assistants under the
Assay Master in order to be instructed and learn the business of the assaying
and that Mr Bentley be desired to instruct them as expeditiously as possible.
Bengal Public Consutations. IOR P/1/43, 4th April 1768, p148
The
Nabob having informed the Governor that
sicca rupees of the ninth year of his present Majesty Shaw Allum have been
struck in the mint at Moorshedabad
Agreed
that they be struck in our mint & pass current at 16 per cent batta on the
first of May next and that after that time siccas of the eight sun be received
into the treasury at 13 per cent only & the rupees of all former years
estimated as sonnauts and
Ordered
that the Secretary do issue publick notice of the same
Bengal Public Consutations. IOR P/1/43, 18th May 1768,
Oposite page 198 (also numbered p110)
The
Mint Master (James Alexander) lays before us the following letter
The
many complaints that are made me by the shroffs from my employment as Mint
Master, of people forcing on them in a violent manner gold mohurs and demanding
for each 14 sicca rupees, the general distress of the inhabitants for want of a
sufficiency of silver currency to procure the common necessaries as well as to
carry on their commerce, and the dread of this evil still increasing, occasions
my troubling you with this address and not doubting if possible but you will
fall on some mode of restifying the same.
The
gold mohurs notwithstanding the positive order of the Government that it should
produce 14 sicca rupees now sells publickly in the bazar for 13 rupees 12
annas. When I demand of the shroffs the reason of their disobedience in
refusing them at the fixed rate they declare it is entirely out of their power
from the high price of silver but that they are ready to pay into the Treasury
any quantity of gold for silver & that they will afterwards deliver it out
at the same exchange they receive it. What they alledge appears to me so very
reasonable that I do not see how they can with propriety be forced to exchange
silver at a stated rate unless they are supplied with that article in such a
manner as will answer the purpose.
I
have counciled the principle inhabitants to know if they could point out any
method that would render the currency of gold more general. They assure me they
know of none and recommend stopping future coinage but that in case the
Government are still resolved on its continuance they would then advise the
mohur being made of the same fineness as formerly. At present being 1/6th
of an alloy all ranks of people consider an idea from the gold mohurs not being
quite pure that it is deficient in its intrinsic value and will exchange at any
rate rather than hoard them up with a view to carrying tham off in times of
danger for which purpose alone they were formerly coined.Whereas when they are
pure gold they will be more induced to receive them through the kindom of
Bengal in order to conceal them or to manufacture into jewels from a certainty
of their being always of such a value.
I
am of opinion that fresh orders to the gentlemen who have the collection of the
revenues to receive them with the same readiness as silver might assist much
their currency.
At
present they pass nowhere out of the town of Calcutta unless at a very great
discount.
The
Board having taken into very mature consideration the subject of the Mint
Master’s letter and being fully sensible with him of the necessity of remedying
this evil that is to be apprehended will still increase are of the opinion that
the first step to be taken to stop its progress is to prevent any more gold
mohurs of the new currency being coined.
Agreed
and resolved therefore that no more of the mohurs be coined in our mint &
that the Mint Master be acquainted with this resolution & at the same time
desired to inform us as soon as possible what quantity have been coined in the
mint since the currency first took place.
Agreed
also that this resolution be communicated to the Resident at the Durbar and
Chief of Patna & the same questions issued to them as has been given to the
Mint Master here.
Bengal Public Consutations. IOR P/1/43, 13th June 1768, p226
Letter
from the Resident at the Durbar (ie Murshidabad)
…and
that he has also informed the ministers with our desire that no more gold
mohurs should be coined at the city. That since the commencement of the
currency there has been about 70,000 coined
Agreed
that we write to Mr Sykes to send us down an account of the exact quantity of
mohurs that has been coined at the city.
Bengal Public Consutations. IOR P/1/43, 27th June 1768, p234
Durbar
Letter
…acquainting
us in answer to our letter of the 13th he has made enquiry what
quantity of new gold mohurs has been coined in the mint at Moorshedabad and is
informed by the Tanksall Droga that the whole amount is seventy thousand
enclosing a register of dusticks drawn out from the time we desired
As
the account of the number of mohurs that have been coined at Moorshedabad is
not so forcibly ascertained as we desired
Agreed
that we write to the Resident at the Durbar to desire he will send in an
account specifying the number and the different times at which they were coined
as also what half and quarter mohurs have been coined and that the whole may
appear more clear & satisfactory that he will furnish us with a translated
copy of the Tanksall Drogah’s monthly accounts since the currency took place.
Bengal Public Consutations. IOR P/1/43, 27th June 1768,
opposire p236 (also numbered p186)
Received
a letter from the Chief of Patna dated the 15th inst.acknowledging
the receipt of ours of the 18th ult. & transmitting us an
account of all the gold mohurs of the new coinage currency which have been
coined in that mint since their first establishment acquainting us also that
the coinage of those mohurs has been stopped from the 4th of
November 1766 & shall remain so until further orders from [us?]
Bengal Public Consutations. IOR P/1/43, 18th July 1768,
opposire p254 (also numbered p221)
Letter
from the Durbar
…and
informing us that our orders for sending down an account of the number of gold
mohurs coined at Moorshedabad shall be complied with as soon as the Tankshal
Droga’s accounts can be translated.
Bengal Public Consutations. IOR P/1/43, 28thth July 1768,
opposire p270 (also numbered p259)
Received
a letter from the Resident at the Durbar dated the 20th July
transmitting us conformably to our directions a particular account of the
number of gold mohurs coined in the mint at Moorshedabad which amount to 78,785
Bengal Public Consutations. IOR P/1/43, 1st September 1768,
opposire p373 (also numbered p448 and 716)
President’s
(Verelst) minute on the subject of the gold currency
The
many and great inconveniences resulting from the establishment of our gold
currency have for some time been the objects of my most serious consideration;
and I flatter myself that the measures already adopted by the Board, of
stopping farther coinage, receiving part of the revenues in that specie, and
occasionally remitting it to Madras, would have removed or at least mitigated
the most material causes of complaint. I now however perceive that instead of a
diminution of the old evil, new ones are daily presenting themselves; and that
our public credit and the funds for our investments begin to be sensibly
affected.It now therefore becomes essentially necessary that the Board should
take the matter under their most attentive deliberation; and as I must request
the several members opinions concerning the most effectual remedy for so
alarming a circumstance, I will embrace this opportunity of laying my own
sentiments before them. The principle advantages originally proposed by the
institution of a gold currency were 1st to curb the impositions of
the shroffs in their arbitrary rise and fall of batta by establishing a coin
which should bear everywhere a fixed value. 2nd to encourage the
import of gold by putting a current value upon it considerablt above its real
one and 3rd to prevent the exportation of it, from the certain loss
of that established advance. How little the first of these purposes has been
answered will appear from a reference to the state of the batta in the bazar
for some months past. Instead of a fluctuation as formerly of one, two or three
per cent the silver rupee has risen from 8 to 42 per cent above par; and by
that means the power of the shroffs [yra?] to impose, has been encreased in an
equal proportion. The consequence of this both to trade and revenues is
obvious; the first becomes loaded with a discount at a medium of 10 per cent,
as no thing but silver was received in payment here; and in the second case the
[renter] was glad to avail himself of the advantage by exchanging the silver
rupees he collected for mohurs in the bazar, and deriving to himself thereby a
gain of 10 per cent on the amount of his payments. Much of the silver therefore
which would otherwise have come into the Treasury was diverted into the hands
of the shroffs, who either secreted it to keep up the batta, or sold it at an
extravagent premium to those whom necessity obliged to make remittances through
the Dutch and French [Cashl], because they could not obtain bills on their own
Company, and because those nations positively refused to receive any other
species but silver.
The
Treasury it is true issued the mohurs in their disbursements at the established
rate, but how much to our dishonor must clearly appear from the above mentioned
rate of batta as every servant of the Company in Calcutta, both European and
Native, received their pay in a specie which they could not apply to their
ordinary expenses without losing one tenth of the whole. Fortunately the evil
had not proceeded so far at the time of our last years advances; but should it
continue I cannot see how we shall find silver to send to the Aurungs for the
next, except we subject the Company’s trade to the same tax as that of
individuals has been, by exchanging the mohurs at the current batta of the
bazar.
The
second and third ends indeed have been accomplished; but instead of advantage,
have been productive of the most essential detriment. It is a certain
proposition that the particular encrease of any species of coin will either
sink its own value, or, what is in fact the same, raise that of the other
currentcoins, which may be in a smaller proporation. If this surplus cannot be
exported without loss, the evil becomes more difficult of cure, and of the
higher value the species of coin is, the more severely it will be felt. If we
apply this to ourselves,it will clearly evince that the encoragement to import,
and the losses fixed on the exportation of gold have been so far from
benefiting us that they have been of very [general] disservice and only loaded
us with the superfluity of a coin the least calculated for trade or general
circulation.
Thus
situated, a speedy remedy becomes absolutely necessary, but this remedy must be
attended with loss and the only question is whether that loss might fall on the
Company or the community. The general practice of other governments in similar
cases does not I believe afford a precedent for the latter measure but whenever
necessity or policy has occasioned any coin to be debased, and from
considerations equally important the former standard reestablished, the
deficiency always fell on the state and not on the people.
In
the present situation of affairs and this favourable season of the year, when
the revenues are bringing in large sums of silver, I will venture to recommend
the following measures; I would propose that public notice be given that we are
ready for a limited time, to receive into the Treasury all mohurs struck with
our marks at the rate of 14 siccas, their face value, and give interest notes
for them at 8 per cent payable in twelve months; and that as many new mohurs of
the Delhy standard and weight be issued as may be deemed necessary for the
currency of the business.
This
plan will be attended with many capital advantages and I cannot see one
objection of weight to it. 1st the temptation of the receipt of
mohurs at their established batta, and the apprehension of an immediate
reduction of 10 per cent on that currency, together with the usual public rate
of interest of 8 per cent for the year, will induce many to throw large sums
into our treasury, which at this juncture, may be advantageously employed on
the Compnay’s accounts; 2nd the loss to the Company will be small,
as the surplus of the mohurs received and reissued can be sent to Madras for
their necessary supplies, and a smaller discount than rupees, and the whole balance
itself is by no means considerable as will appear by the annexed statement; and
lastly it may probably induce many to vest considerable sums in this fund in
preference to remitting them to Europe through the channel of foreign nations
upon the present disadvantageous terms.
Bengal Public Consutations. IOR P/1/43, 1st September 1768,
p375 (also numbered p453)
Total
of Gold mohurs coined in the following mints
In
Calcutta 177871
Patna 15974
Moorshedabad 70000
Total 263145
Sent
to Madras by different conveyances 134417
Balance 128728
The
Board agreed with the President’s proposal stating that they would like to have
done it before but for the lack of silver. Also they now had the endorsement of
the Court of Directors. The records go on:
Agreed
and resolved to abolish this establishment of the gold currency and annul the
orders of the Select Committee regarding it, and for the space of 15 days
ensuing from the publication of this resolution to receive into the Treasury
all gold mohurs of the late currency at the full rate of fourteen sicca rupees,
their original fixed value, and for every amount of the same above the sum in
and value of one thousand rupees to issue interest notes payable in or within
the space of twelve months which said notes are to bear an interest of 8 per
cent per annum from their respective dates, and that no gold mohurs so received
are to be again issued out of the Treasury…
Bengal Public Consutations. IOR P/1/44,
Firstly
there is a petition from the Armenian merchants settled in Calcutta complaining
of the lack of coin and its effect on business.
There
then follows a long discussion agreeing with this and a determination to
correct it by issuing a new gold coinage this time composed of single, half,
quarter, eighth & sixteenth mohurs, but of a higher intrinsic value
Bengal Public Consutations. IOR P/1/44, 26 April 1769, No. 51, 84. p286
Received
a letter from the Governor & Mr Becher dated the 20th April 69
enclosing a letter from the Governor to the Nabob recommending to his
consideration the proposed plan of a gold coinage for the relief of the
distress occasioned to publick & private business from the want of specie
in the country, & the Nabob’s answer to it and informing us that this plan
has met with the general approbation of those whose experience &
understanding in this branch is well known. That as soon as the new mohurs are
struck they will send us specimens of each size in order that the exact
proportion of weight and fineness may be ascertained, & in the meantime
publick notice will be issued by the Government to foreign nations &
throughout the provinces of the establishment of the new currency, and as the
distress of individulas almost approached to general bankrupcy & the
publick revenue would in all probability have soon felt the effects of a
growing eveil they are in a particular mannerflattered by the general voice
& sentiment in favour of the measures to be taken for its relief.
Agreed
that we acknowledge receipt of their letter & inform these gentlemen that
we feel very particular satisfaction at the general approbation expressed of
the intended new coinageso necessary to restore a currency to trade &
relieve the country from those evils which
naturally proceed from a want of specie, that we request they will
promote the coinage & help the circulation of the new mohurs by all the
means in their poweras the distresses occasioned by the want of it increase
daily, & desire they will send us stamps of the several new coins as soon as
possible as we wait for them to serve as models for our new coinage in
Calcutta.
Bengal Public Consutations. IOR P/1/44, 8th May, 1769. p317
Read,
the following letter from the Mint Master (Charles Floyer)
Having
received from the Governor samples of a new gold mohur and its divided parts
which the country government deems most likely to effect the salutary effects
proposed by this Board in the estaqblishment of a new gold currency, I have now
the honor to lay them before you together with a letter from the Assay Master
on the subject for your determination.
The
Assay Master’s letter begins:
In
consequence of your directions I have assayed the gold mohurs & their
divided parts which have been lately coined in the mint at Moorshedabad…
Read
also the following extract of a letter from the Resident at the Durbar, to the
Select Committee dated
Some
mohurs of the new gold coinage were received yesterday in part of the [poonkah
Kists] & the ministers will immediately issue strict orders for receiving
in all the districts gold when offered in payment of the revenues and I hope
the currency will be established without difficulty.
Bengal Public Consutations. IOR P/1/44, 15 May, 1769. No. 95. p326
Received
a letter from the Governor & Mr Becher dated the 11th May from
Bauleah acknowledging the receipt of our letter of the 26th ultimo
assuring us that every means in their power shall be exerted to encourage &
support the currency of the gold coinage.
Bengal Public Consutations. IOR P/1/44, 30 May, 1769. No. 72, 106, 107.
p359ff
Received,
a letter from the Governor & Mr Becher dated the 22nd May
advising us of the receipt of our letter of the 8th instant &
that in consequence thereof they had procured an assay from the mint at
Moorshedbad of the new mohurs from which it appears that in 100 mohurs there
are 97 mohurs of pure gold & 14-12-2 & by this there is a difference
between the assay made at Moorshedabad & the one taken by our Assay
Master.They therefore recommend that a further trial may be made upon the
samplessent by Mr Verelst to the Mint Master.
That
they with pleasure observe that the new mohurs issued at the city have met with
a free and ready circulation, & they hope the same success from our coinage
in Calcutta.
Received
a letter from the chief at Patna dated 21st May acquainting us that
particular directions have been received from the Nabob by Rajah [Shitabroy]
for establishing a gold coinage at Patna & as it is mentioned among the
regulations that a person should be stationed on the part of the Company to
prevent any frauds in the coinage he requests our orders concerning it.
More
details of the assays then follow with the Calcutta Assay Master repeating his
figures and questioning those of Murshidabad. The big question is, which is
right? Because they both want to use the same standard.
Bengal Public Consutations. IOR P/1/44, 17th June, 1769. No.
100,117. p388ff
More
discussion of the assays at the two mints of Calcutta and Murshidabad, and they
finally agree that the gold standard of Mohurs of Muhammad Shah are what they
will go for.
The
Board being fully satisfied as well from the recommendation of the ministers,
as from the report now laid before them by the Assay Master, that the standard
of Mahomed Shaw approaches the nearest to the proportional value between gold
and silver,
Do
agree and resolve that the resolutions of the 20th March shall
immediately take place, and the subordinates be advised thereof, the chiefs
directed to appoint some person on the part of the Company to superintend the
business of the mint and see that the regulations be properly attended to. And
that the secretary issue publick advertisements of this our resolution for the
information of the inhabitants of the town.
Bengal Public Consutations. IOR P/1/44, 27th June. 1769. P443
Letter
from the Mint Master (Charles Floyer) to Calcutta Council, dated
I
have the honor to acquaint you that in conformity of your orders of […] the new
ten sun sicca rupees were struck in the Calcutta mint on the 1st
instant.
On
reference to the mint books I observed an annual charge of [Enum] or gratuity
given to the servants employed in the mint upon the coinage of a new sicca.
This has been a prevailing custom since the establishment of this mint, and of
late years the sums paid on this account have amounted to eight and nine
hundred rupees. As the Honble Company’s disbursements in that department last
year exceeded their receipts above ten thousand rupees, and as I do not see a
probability of any advantage accruing to them for the present year, I decreased
the gratuity in the late coinage to seventy five rupees, which sum as I
understand it to be the established custom in all the mints of Bengal, I caused
to be distributed among those servants who had heretoforebeen thought entitled
to it, not chusing without your orders, totally to abolish a custom, which in
times of the mints prosperity was, I conclude, deemed a necessary indulgence to
the several artists employed therein.
Having
accidentally met with a few new Moorshedabad sicca rupees stamp’d differently
from those which have been usually issued from that & the Calcutta mints, I
beg leave to lay them before you. On my first discovering the difference, I
could not but suspect they were of base metal, and accordingly desired the
Assay Master to prove the quality of them, but he has reported them to be of
equal purity with the established sicca. However, I apprehend some
inconveniences may arise if sicca rupees are permitted to be issued from the
same mint with different stamps.
Agreed
that we write to the Resident at the Durbar and acquaint him that our Mint
Master has laid before us three new siccas rupees of the Moorshedabad coinage,
stamped differently from those which have been usually issued from the
Moorshedabad and Calcutta mints; which we send to him and request he will
enquire of the ministers whether such rupees have been issued from the mint
& the city & inform him we should be glad to be acquainted with the
reason of this difference in the stamp.
Bengal Public Consutations. IOR P/1/44, 3rd July, 1769. No.
137. p453
Letter
from the Resident at the Durbar stating that the ministers assured him they
would do everything in their power to ensure that the gold coinage was a
success. Also that not many gold coins had been struck but those that had had
been well received.
Bengal Public Consutations. IOR P/1/44, 18 July, 1769. No. 129. p494
Received,
two letters from the Durbar dated the 4th & 13th of
July the former acknowledging receipt of our letter of the 27th
ultimo & informing us that in consequence of our orders he has enquired of
the Nabob the cause of the difference in the stamp upon the new Moorshedabad
sicca rupees and likewise sent the three we enclosed him, for his inspection.
That he encloses to us an extract from the Nabob’s answer, and three new
Moorshedabad siccas, that they may be compared with those we sent him which he
now returns, as neither the ministers nor himself are able to discover any
differences between the two..
Agreed
that we acknowledge the receipt of these letters and acquaint Mr Becher that
the sicca rupee hath heretofore had the figure of a sun upon the stamp &
those we sent him in our letter of the 27th ultimo had that of a
crescent or half moon, from which it is evident that there is a difference in
the stamps. And as we apprehend from the circumstance some alteration may have
been made, we could wish to have been informed of it as it is necessary the
stamps of all the mints ahouls correspond and therefore whenever any
alterations are to be made in the impressions at the city, we desire to be
informed of it, that the same may take place in our mint, but we should be glad
that for the future one fixed stamp might be observed & no innovations
made, as we are apprehensive it will only create confusion of the shroffs might
make some advantage of it by raising a […] the batta
Bengal Public Consutations. IOR P/1/44, 1 August, 1769. No. 158. p506
Letter
from the Resident at the Durbar saying that the Nawab agrees not to make
further changes without letting them know.
Ordered
that the Mint Master give the mark of a crescent instead of the current one of
the sun, upon the new sicca rupees.
Bengal Public Consutations. IOR P/1/44, 26 October, 1769. No. 187. p467
Letter
from the Durbar (Mr Becher)
…and
that it appears to him as the siccas of Moorshedabad, Patna & Dacca are of
the same fineness and weight that if they were coined with the same marks in
such a manner that it might not be known which mint they came from, that this
would promote circulation, be a relief to the trade, and prevent the shroffs
taking those unfair advantages they now do from the knowledge of the particular
mint the species are coined at. That he communicated his sentiments upon the
matter to the ministers who entirely concur in opinion with him.
Agreed
that we acknowledge the receipt of these letters and acquaint Mr Becher that
his proposal for fixing the same marks upon all siccas coined in the mints of
Moorshedabad, Dacca & Patna meet with our entire approbation and that we
wish to see it adopted as soon as possible not only for the reasons he has
given but because it may prove an introductory step to the scheme of abolishing
all distinction of batta. That there is some danger the credit of our mint may
suffer from this community of marks, unless very particular care be taken that
the fineness and weight of those rupees coined in other mints strictly
correspond with those coined in our own.
Bengal Public Consutations. IOR P/1/46, 9th January 1770. p38
That
we have appointed Mr James Irwin to the Durbar – to superintend the mint
Bengal Public Consutations. IOR P/1/46, 11 January 1770. p47 also
numbered p88
Agreed
that we answer the 18th & 19th paragraphs [of the
letter from Court] relative to the gold coinage in the following manner in our
next address to the Court of Directors. That the gold coinage which we had
before advised them was established in order to alleviate the general distress
of the merchants arising from the great scarcity of silver specie that then
prevailed, hath in some degree answered this desirable end. And the so the
coinage has from its purity been universally esteemed & received with
general satisfaction. That we deem it most expedient to refer the making any
alteration in the present establishment until the arrival of their sentiments
in answer to what we have already wrote upon this subject.
Bengal Public Consutations. IOR P/1/46, 13th March 1770. p228
also numbered 311
Letter
from the Durbar to
…The
second dated the 5th March acknowledging ours of the 26th
ulto and promising obedience thereto. The orders of the Directors for having a
fixed rupee have engaged his attention and he has conferred with Mahomed Reza
Cawn on the subject, whose opinion is that the proposed regulation of having
siccas coined in the mints of Moorshedabad, Calcutta, Patna and Dacca of the
same fineness and mark should take place when the 11 sun siccas are issued
which is fixed by the ministers of the 5th May next. Strict orders
will be sent to the Patna and Dacca mints and a few of the Moorshedabad rupees
some of which he now forwards to us will be sent there with the implements for
stamping them. He apprehends we shall issue orders for having the rupees
stamped in the Calcutta mint in future of the same standard and mark as those
of the other mints. The ministers have strictly injoined the superintendants of
the Ptna and Dacca mints to be careful that no deviation or adulterationis
admitted and he promises to pay great attention to this object at the City with
the assistance of Mr Irwin. He hopes this measure will have the way for a fixed
rupee which would be very beneficial for the trade of these provinces. He is
opinion together with Mahomed Reza Cawn that siccas of the 11 sun should be
issued and that the change from a fluctuating to a fixed rupee should be
gradual, and they think that in future rupees may ever continue to be issued of
the 11 sun which will [by] degree effect the desired reformation without making
any bustle amongst the shroffs or giving them an opportunity of controverting
these measures. An objection however to the continuation of the 11 suns
appears, which is that stamping on the rupees the year of the King’s reign is
one of the marks of Empire, which by this method will be abolished. And he
leaves to our decision whether this shall prevent a measure so beneficial to
the Country and our employers. The mint being very distant from his house and
requiring Mr Irwin’s constant attendance he begs permission to procure an
habitation for him amounting to about 3500 Rupees and he wishes we would fix Mr
Irwin’s allowance.
Bengal Public Consutations. IOR P/1/46, 20th March 1770.
Facing p245
The
letter from the Resident at the Durbar of the 5th instant on the
subject of the coinage being now taken into consideration.
The
Board is of opinion that the following regulations are the most likely to
produce the desired alteration.
That
the siccas rupee ought to be the fixed standard coin and that the rate of batta
between that and the current rupee should be fixed at 16 per cent.
That
the rupees coined in the mints of Calcutta, Muxadavad, Patna & Dacca should
have no particular mark to distinguish the coinage of one mint from that of
another.
That
the coinage at all the mints should be of the same weight and fineness.
That
the value of rupees of every other denomination should be determined by the
difference of purity between them and the standard sicca rupees.
But
as this is to be considered only as the ground work of the plan
Agreed
that we deisre the Resident at the Durbar to furnish us with a table of the
different sorts of rupees in use in the provinces, particularizing their weight
and fineness; and likewise musters of each that we may be enabled to
determinethe relative intrinsic batta between them and the sicca.
And
also to inform us of the average batta each sort generally passes at in the
different provinces
Also
agreed that we send him a copy of the above regulations desiring him to consult
the ministers and communicate to us any new lights which may occur to him or
them tending towards the making of the plan more perfect
And
in the meantime to defer issuing the publication for the new year’s siccas.
Bengal Public Consutations. IOR P/1/46, 12th April 1770.
Facing p300
Received
a letter from the Resident at the Durbar, dated the 9th instant,
acknowledging ours of the 20th ult and acquainting us that the Nabob
Mahomed Reza Cawn agrees with him that the point wanted to be effected is the preventing
of the shroffs taking batta on rupees only because they happen to be coined a
year or two sooner or at some particular mint, which they think can be done no
other way then by a fixed standard rupee coined exactly the same in the four
mints and to pass whilst it retains its original value at the same rate whether
it is one or ten years old. That as to the species of rupees which are not the
coin of the country it does not appear to them possible to settle a fixed batta
upon them in the provinces, but they should be considered as merchandize. He
encloses a table of the different sorts of rupees in use in the provinces with
musters of each. He has countermanded the order for issuing the 11 sun siccas
till our further directions which he begs may be soon, he being strongly of
opinion that having the rupees coined in the four mints exactly the same is
very essential towards the desired purpose and may promote but cannot prejudice
any plan we may adopt for fixing a standard rupee. If this is directly executed we shall have a
twelve months to observe its effect and to form proper resolutions. The only
inconvenience he can forsee will be the difficulty of tracing frauds in the
coinage, though this may be greatly prevented by proper caution. If this plan takes
place he supposes we will have the rupees in all the four mints struck with the
same marks as those he sent musters of…
Ordered
that the inclosures be entered after the proceedings
The
Board having attentively considered the subject of the Durbar letter, agree to
the following regulations regarding the coinage.
That
11 sun siccas shall be issued the first day of May. That all rupees coined in
the mints of Patna, Muxadavad and Dacca shall be exactly the same in fineness,
weight, mark and stamp.
That
the siccas of last year shall continue to bear the same value and shall be
received accordingly in payment of the revenue.
That
old siccas of the same weight and fineness with the Moorshedabad sicca shall
pass and be received as new siccas and in case of deficiency in weight of any
old siccas of the present standard a proportionable deduction of its value
shall be made.
Agreed
that we send a copy of them to the Resident at the Durbar acquainting him of
our desire of having them put into execution as soon as possible and requesting
that for this purpose he will communicate them to the ministers for their
approbation & desire tham to lose no time in circulating them throughout
the provinces and as it is essentially necessary to the success of all
regulations that the strictest obedience should be paid by them, he is desired
to recommend to the ministers their taking the most effectual means in their
power to have these issued in the most public manner and observed with the most
scrupulous attention.
Bengal Public Consutations. IOR P/1/47, 8th May 1770. p6
Letter
from the Resident at the Durbar (Murshidabad) dated
He
informs us that he communicated to the ministers our intention of having all
sicca rupees old as well as new pass at the same rate and be received on
account of the revenues in all parts while they retain their weight and are not
adulterated. He sends us Mahomed Reza Cawns opinions on this subject by which
we may perceive that the minister thinks the present is not a proper time for
making so great an alteration and that it will be attended with great
difficulty whenever it is undertaken. He owns himself to be of the same opinion
for the shroffs being the only natives possessed of great wealth (which renders
them formidable) every art will be used and every endeavour exerted to
frustrate aour plan. The revenues will be paid in the oldest rupees and when we
issue them again, many objections will be raised. The military will complain;
merchants will demand higher prices for their goods. All the old rupees will
find their way to our treasury and we shall be obliged to coin them at the
Company’s expense & loss. He begs leave to offer as his opinion that
whenever this scheme is attempted it should be introduced gradually and
imperceptibly, to which purpose he recurs to his former opinion, that for the
present year it would be sufficient to coin the same rupees in the four mints
& let them be circulated till the time of coining the 12 sun siccas when
the 11 sun succas should continue to be coined & should never be altered in
future.By these means the old rupees would by degrees be all brought in and
received without loss to Government & the shroffs could not greatly impede
the general circulation. But should we conserve of opinion that all sicca rupees
should pass at the same batta and that the Company should bear any loss from
the revenues being paid in old rupees, he hopes we will consider the increasing
miserable state of the country and the apprehension of a total failure of the
august crop of rice, which would make the revenues of the next year fall very
short. He thinks we should not reckon on receiving more then 130 lacks of
rupees. He leaves to our judgement whether in such an unfavourable season the
risk of a further reduction would be eligible.
He
requests our speedy orders on the subject and has stopped issuing the 11 sun
siccas till he receives our directions. The Dutch
& many private merchants wait for the order to send their monay to the
mint. He is assured by the people of the Muxadabad mint that they have assayed
their new rupee with the Calcutta siccas & find the latter inferior. He
supposes we mean that the 11 sun siccas are everywhere to be coined exactly the
same as those sent to Calcutta, in which case there needs no delay in issuing
them, as rupees were sent to Dacca & Patna at the same time they were to
Calcutta.
Agreed
we answer him as follows. That in Mahomed Reza Cawn’s objections to our
regulations for the coinage we think he has produced no argument of weight against
them nor is he explicit in pointing out the evils he apprehends. But, tho’ we
adhere to our former opinion that our plan will be of general benefit to the
country, and think the scheme very practicable, yet some considerations induce
us to decline putting it into execution at this juncture. That we expect a
measure so essentially prejudicial to the interests of the shroffs will be
warmly opposed by them & they will strenuously endeavour to frustrate it.
But this ought not to deter us from adopting it, for a vigorous exertion of
Government will baffle all their attempts, and a certainty of this creates our
present objection to the immediate execution of this measure. The wealth of the
shrofs is an object particularly to be considered in the present argument. The
interest of [the] country is certainly promoted by monied men, and in the
present situation of this country they should by every encouragement be ordered
to reside in it. Now it is possible that the shroffs might on this measure’s
taking place withdraw into those countries where they can make more advantage
of their wealth, which would add greatly to our present distress and though
this is not a certain consequence, we think it should not be hazarded at this
very critical period. We threfore have agreed to postpone our former
intentions.
The
Mint Master begs leave to lay before the Board two reports from the Assay
Master, whereby it appears that the Calcutta sicca proves heavier than the
Muxadabad and that they are both equally fine.
Ordered
that the reports be entered after the consultations
Agreed
that we enclose copies of them to the Resident for his more particular
information and remark to him that some mistake must have been made in the
assays at Moorsheabad, and inform him we mean the 11 sun siccas should be
coined in all the mints exactly the same as those he sent.
p10
has the letter form the Nawab, which says more or less the same as above
p11
has a list of assays of all the circulating rupees
Bengal Public Consutations. IOR P/1/47, 22 May 1770, p19
Letter
from the Resident at the Durbar dated 15th May
Informing
us of his having communicated to the ministers our final resolutions respecting
the coinage. In consequence whereof they have sent orders to the several mints
to issue the 11 sun siccas on the 27 instant.
Bengal Public Consutations. IOR P/1/48, 14 January 1771. p149 & 153
also numbered 75 & 77
Mr
Herbert Harris appointed Mint Master from the last day of February
Bengal Public Consutations. IOR P/1/49, 23 May 1771. p97 also numbered
49
Letter
from Murshidabad (Messrs Barwell & Graham) to Calcutta dated
We
have received information from the Naib Duan that the siccas of the 12th
sun were agreeably to custom struck in September last and the Nuzzers usual on
the occasion presented to his Majesty Shah Allum and the Honble the President
of Fort William and that the period at which they are generally circulated is
now passing away.
We
have now the honour to transmit you the die for the Calcutta mint together with
5 rupees as a sample of the coinage and are to request your orders for
immediatley issuing the 12th sun sicca as a longer delay will impede
the currency of business and as a quantity of bullion in the hands of the Dutch
company is by them kept back until they can coin it into the sicca of this
year.
Bengal Public Consutations. IOR P/1/49, 23 May 1771. p99 also numbered
50
Resolved
that we send to Moorshedabad extracts of our correspondence with the Resident,
now read at the Board, relative to the coinage, and as it appears to be a
favourable period for carrying our plan into execution
Agreed
that we do require their opinion, at the same time acquainting them we are
determined no 12 sun siccas shall be issued in the meantime…
Bengal Public Consutations. IOR P/1/49, 23 May 1771. p101 also numbered
51
Letter
to Murshidabad from Calcutta dated
The
establishing of a fixed standard rupee throughout the provinces has long
employed our attention & we had a design of carrying it into execution last
year but the calamitous situation of the country induced us to postpone our
intention. As we judge the present to be a favourable opportunity for executing
this plan, we desire that you will without delay send us your’s & the Naib
Duan’s opinion on it that we may see if it is necessary that we should alter or
correct our plan. To assist your judgement we shall by tomorrow’s post forward
to you copies of the correspondence that passed between the late Resident Mr
Becher and this Board on the subject.
In
the meanwhile we have resolved that no 12 sun siccas shall be issued
particularly as the Naib Duan concurred in opinion on this subject last year,
and we see no reason why he should change it now. Those that have been struck
can only be a few that to keep up the customary ceremony were sent as a nuzzer
to the King, otherwise the Naib Duan must have acted contrary to his own
opinion and what he knows to be our intention.
Bengal Public Consutations. IOR P/1/49, 10 June 1771. p141 also numbered
71
Letter
from Murshidabad (Alexander, Barwell & Graham) to Calcutta dated
We
have been favoured with your commands under date the 23rd instant.
On
the subject of the coinage of the new siccas we shall have the honour to
address you when we have been furnished with the Naib Duan’s sentiments.
Bengal Public Consutations. IOR P/1/49, 5 July 1771. p198
Read
a letter from Murshidabad.
The
subject of the coinage being so very important and the members of the Board at
present so few, and as Mr Aldersey will be soon able to attend and Mr Middleton
is expected in a few days
Agreed
we refer the consideration of it to a further Board.
Bengal Public Consutations. IOR P/1/49, 6 August 1771. p298
Letter
from Murshidabad (Barwell & Graham) to Calcutta dated
On
the 30th Ultimo we had the honor to acknowledge the receipt of your
commands under the date the 23rd of that month to which we come now
more particularly to reply.
It
was not our intention neither that of the Naib Duan to have issued the siccas of
the 12th sun without your orders and approbation. The application we
made to you with that view was grounded in your letter of the 8th
May 1770 to the late Resident in which for the consideration therein mentioned
you determined to postpone your intentions on the subject of fixing a standard
rupee throughout the provinces. These considerations appearing still to operate
in full force, we concluded had induced you to decline reviving this subject
and we therefore applied for your authority to issue the new siccas as a matter
of annual form. The same idea seems to have impressed the Naib Duan (copy of
whose representation we now enclose you) as likewise the late Resident who we
do suppose must have conceived it your intention that the new siccas would at the
usual time become current when he authorized the striking the customary number
for the Nuzzers to be sent to the Court & to the Prsidency.
Having
now called for our opinion on the object of your present deliberations, we must
beg leave to confess we think it a subject of so much intricacy and so very
liable to be influenced by temporary circumstances and considerations that time
and experience can prove how far the regulation proposed may be of real utiliy
to the country and benefit to the Government.
The
late Resident in his address of the 1st May offered to you many
arguments on this measure which appear to have merited your consideration. We
must beg leave again to recur to what he then set forth with respect to the
calamitous state of the country in so far that tho’ the calamity itself has
passed over yet has not the country recovered from its effects which are still
felt in a greater or lesser degree throughout the provinces, and therefore in
regard to the period for adopting this regulation the present seems to be as
improper as the last year.
In
addition to this argument permit us to observe that unless the regulation can
be enforced in the adjacent kin
gdoms
where the same species of coin is current, the end you propose by it will, we
apprehend, be rendered inefficacious. Custom and the influence of the shroffs
have established an arbtrary value on the jeloos or new sicca rupee, the profit
accruing thereby is the principal inducement to the merchant to coin his
bullion and bring it into circulation, and if he cannot obtain the same profit
by coining it in our mints as he can by those of Benares, Allahabad etc, it
naturally follows that he will carry his bullion there to be coined and these
provinces will be drained of their specie, and it likewise follows that if this
observation is given to the business of the shroffs and money dealers they will
withdraw themselves from their present places of residence to follow their
professions in those countries where they shall meet with encouragement. If the
arbitrary value hitherto affixed to the sicca rupee is now abolished the
merchant will not be able to afford any duty on coinage. Of course, instead of
the revenue which has hitherto arisen from the mint, the government the
Government will become chargeable with a certain expense annually upon
recoinage. These sentiments we offer with all diffidence as it is a subject in
itself so very nice and may in its consequences prove so important, every
effort of ours shall be exerted to carry into execution and render efficacious
whatever resolution you mat think proper to adopt.
Letter
from the Naib Duan to Murshidabad (no date)
The
gentemen of Council write that on the subject of circulating the siccas of the
11th sun and prohibiting the coinage of the 12th, they
perceive a difference in the opinion expressed by me last year and the present.
Let the gentlemen of the Council consider this matter with attention. It is
impossible that there can be any difference in my sentiments. Last year my
meaning was that with regard to establishing a perpetual circulation of the 11
sun sicca which the gentlemen proposed, they were the rulers of the country and
it might be done, but whether this regulation would tend to the welfare of the
country and benefit of the Government or not could only be ascertained after a
course of time. This was my answer last year, and the gentlemen paying regard
to Mr Becher’s representation in consideration of the distress in which the
country was then involved relinquished their intention. From that time I had
not again the least information that this subject would afterwards be revived.
For this reason therefore I informed the gentlemen of the Council here that the
season was come for circulating the 12 sun siccas and asked their orders
whether they should be circulated.
Let
the gentlemen of the Council from this determine what difference there is in my
opinion, and now that the Board have again wrote on the subject of establishing
the siccas of the 11 sun, this is again my answer: that if such is the
gentlemen’s pleasure, I shall adopt this regulation of the 11 sun and use every
means that depends upon me for inforcing & perfecting it, but after the
remarks made by me last year, I can only add that whether from this regulation
good or evil will result, a further length of time can alone determine.
Whatever is the final resolution of the Board it is requisite that they give
their orders speedily, because in the manner that business remains at present
in suspense, it certainly occasions detriment both to the Government of the
country – first because the business of the mint being suspended, the
Government duties are not received – and secondly because the merchants are
thereby induced to export bullion out of the country – besidesw it is necessary
if they establish the 11 sun siccas for ever, that they give intelligence
thereof to his Majesty, because every year new siccas are struck and issued. If
now the new siccas be struck a new nuzzer be sent to the presence and they
afterwards not be circulated it will be an impropriety towards the King and a
slight to the throne. As for the rest whatever orders they may give me shall be
carried into execution.
Board’s
discussion
In
order to lead us to a determination on a matter of so much importance, it was
thought necessary to recur to the several proceedings before had on this
subject as well as the orders received from the Honble Court of directors
relative thereto in their several letters.
The
Board having maturely weighed and considered the orders of the Honble Court and
all the arguments that have occurred on this occasion are fully satisfied as to
the utility of having a standard coin, to prevent the evident inconveniences
arising from the fall of batta on the siccas of the two proceeding years, one
to the denomination of old siccas and the other to sonnauts, upon the annual
coinage of the new sicca rupee. The question turns only on the practicability
of enforcing such an expedient. The fatal effect of the famine last year made
that an improper season to attempt the introduction of a change in a system of
such a nature so long and universally established, and although experience only
can prove how far the good consequences to be hoped for and expected from it
will be verified, yet as the country is now relieved from that unhappy
calamity, the Board are of opinion that no further time should be lost in their
endeavours to introduce so salutary a measure.
It
appears to the Board that as the sicca rupee is the established standard coin
of the country, the values of the others will always be determined by it, and
consequently by depriving this standard of its annual fluctuation the most
essential part of the plan will be carried into execution.
In
prosecuting this scheme the Board are sensible of the impractibility of raising
those sicca which have already become sonauts to their original value, and
almost equally so of recalling them into the treasury for recoinage, as an
attempt towards it would raise their batta beyond the real value and the
purchase of them at the arbitrary prices fixed by the owners would be attended
with too considerable an expense. The Board therefore can only revert back as
far as the 11 suns, or the siccas of the year 1770, which are yet siccas, no 12
sun siccas having been yet coined, and issue orders that altho’ 12 sun siccas
are to be coined, yet the 11 suns must still circulate at the batta of 16 per
cent, not only during the present year but for all future ones, altho’ the
regular succession of years will continue to be merked on the rupees annually
to be coined in our mints. By this method the number of sonaut rupees will
gradually diminish by the yearly recoinage of a part of them inti siccas
without the heretofore annual increase by the siccas becoming sonaut. It is
therefore natural to conclude they will in a short course of years be entirely
recoined, and such siccas as thro’ circulation for a length of time may become
greatly deficient in weight will of course have so much deduted in payments and
receipts on that account.
As
the annual marking the King’s reign on the rupee will be attended with no
inconveniences, and as an ensign of royalty will be preserved, the abolishing
of which must undoubtedly give umbrage to the King, the Board think it most prudent
and adviseable to adopt the measure.
For
the above mentioned reasons it is therefore agreed and resolved
That
12 sun siccas shall be coined in the several mints in the same manner as the 11
suns were last year, and that the annual coinage of siccas shall hereafter
continue to be marked as usual with the current year of the King’s reign.
That
the 11 suns shall not fall in their value, but shall pass on the same footing
as siccas of the present and every future year throughout the provinces, and
that whenever siccas of any future year shall be issued, they shall not reduce
the siccas of the former years as far back as the 11 suns, to the state of
sonauts, but they shall be considered and pass in payment at the same value as
the siccas of the current year.
That
the 10 sun siccas shall be considered and shall pass as a sonaut rupee, and
that all other species of rupees shall pass and be received as heretofore.
Agreed
also that the above resolutions be transmitted to the Moorshedabad and Patna Revenue
Councils in the following letter for their guidance.
The
above is then repeated with an instruction to pass the oreders to the Nizamut
at Patna and Dacca.
Bengal Public Consutations. IOR P/1/49, 26 August 1771. p369 also
numbered 189
Letter
from Murshidabad to Calcutta dated
Your
orders respecting the coinage have been communicated to his Excellency the Naib
Duan, and our utmost endeavours will be exerted to enforce the regulations you
have been pleased to lay down
Bengal Public Consutations. IOR P/1/49, 26 August 1771. p370
Agreed
the following publication be made throughout the town of
This
is to give notice to all merchants and others residing under the Honble
Company’s protection at this settlement that they have ordered sicca rupees of
the twelfth year of his present Majesty Shah Allum’s reign to be struck in the
Honble Compnay’s mint and to pass current at 16 per cent batta on the 12th
day of September next ensuing. And they likewise give public notice that this
coinage of the twelve sun siccas shall not cause the 11 sun siccas to fall in
their value, but that they (the 11 sun sicca) shall pass the same footing as
they have heretofore done, that is to say at the batta of 16 per cent. And
whenever new siccas of any future year shall be issued, the siccas of the
former years as far back as the 11 suns shall not fall in their value or be
reduced to the state of sonauts but they shall be considered and pass in
payments at the same value as the siccas of the current year. The ten sun
siccas are from the 12th day of September next to be considered to
pass as sonaut rupees. And all other sorts of rupees are to pass and be
received as heretofore.
Bengal Public Consutations. IOR P/1/49, 26 August 1771. p381 also
numbered 195
The
Export Warehouse Keeper lays before the Committee a list of sums required for
the supply of the investment providing at the several Aurangs amounting to
Current rupees four lacks…
|
Arcots |
Hurriaul |
50,000 |
|
Buddaul |
25,000 |
|
|
Siccas |
Keerpoy |
50,000 |
|
Hurripaul |
40,000 |
|
|
10 sun
siccas |
Santipore |
30,000 |
|
Burron |
20,000 |
|
|
Sonauts |
Sonamookey |
50,000 |
|
Siccas |
Gollagore |
65,000 |
|
Chandernagore |
30,000 |
|
|
Cullorah |
15,000 |
|
|
Barnagore |
10,000 |
|
|
Culcutta |
15,000 |
|
|
|
|
4,00,000 |
Bengal Public Consutations. IOR P/1/49, 16 September 1771. p443 also
numbered 226
Letter
from Patna to Calcutta dated
By
the new regulations which you have been pleased to establish, sonaut rupees, we
apprehend, will no longer be procurable for the payment of the brigades
stationed in this province, we at present issue ¾ sonauts & ¼ siccas and
the siccas are valued at 15 per cent better than current, agreeably to a
regulation established during Lord Clive’s administration but of late their
value in the bazaar has only been from 2 to 3 per cent better than sonauts, and
the Moorshedabad siccas have been one per cent worse then the Patna siccas,
notwithstanding we have done all in our power to make them pass at an equal
rate, and in other parts of the province the difference is still greater.
The
troops in consequence have not failed to express some discontent at being paid
even a ¼ in siccas and of course they will be much more dissatisfied now that
siccas must be paid them in a much larger proportion.
We
beg leave to enclose for your observation a copy of a correspondence which we
had on the subject with Colonel Grant and we request to be favoured with your commands
on what terms the troops should be paid in future.
Bengal Public Consutations. IOR P/1/49, 16 September 1771. p443 also
numbered 226
Letter
from Calcutta to Patna dated
We
have received your letters of the 6th & 7th instant
and are greatly concerned at the inconveniences which lieutenant Col Grant
represents to be experienced by the troops at Monghyr on account of the
Muxadavad siccas advanced to them in part of their monthly pay.
Tho’
our resolution is fixed for carrying into execution the new regulations
concerning the coinageand we expect every endeavour on your part to enforce
them within your department, we shall consider at the same time on some
measures to prevent the army being sufferers, and in the meantime we desire that
you will issue as many sonauts as you possibly can.
It
appears suprizing to us that the troops at Monghyr or indeed that anyone should
be able to distinguish the Patna siccas from those of Muxadavad after our
positive orders have been issued that all siccas coined at the different mints
of Muxadavad, Patna Calcutta and Dacca should be of the same fineness and stamp
and that they should have no distinguishing mark whatever. We desire that you
will make an enquiry into this matter and inform us of the result.
Bengal Public Consutations. IOR P/1/49, 16 September 1771. p446
Letter
from Calcutta to Brigadier General Sir Robert Barker dated
Letter
explaining the problems with paying the troops and for advice on how to solve
them
Bengal Public Consutations. IOR P/1/49, 16 September 1771. p459 also
numbered 234
Letters
to and from Col Grant about the payment of troops at Monghyr
Bengal Public Consutations. IOR P/1/49, 18 October 1771. p547 also
numbered 278
Letter from Patna
to Calcutta dated
We have been
favoured with your letter of 16th September and shall pay strict
obedience to your commands.
We are informed
that in the mint at Moorshedabad the rupees are stamped immediately upon cooling,
whereas here they are rubbed over with lime juice or some other acid and put a
second time in the fire, before they are stamp’t and that this makes a
difference in the colour. If you approve it, we might cause the same mode to be
observed here as we are told is done at the city, but we believe in spite of
every precaution which can be taken, the shroffs will still continue to
distinguish the coinage of the different mints. We beg leave to enclose for
your observation four Moorshedabad and four Patna eleven sun siccas, in the
colour of which it is true that a difference is perceptible
Ordered that the
rupees be sent to the Mint Master with the directions to assay them and report
the results to the Board.
Agreed the
following directions be sent in reply
We have received
your letter of the 8th instant, enclosing musters of siccas from the
Muxadabad and Patna mints in which a difference of colour is very perceptible,
and to put a stop to a distinction which tends to the obstruction of our design
of having nothing in the appearance of the rupees coined in the several mints
by which they could be distinguished from each other, we desire that particular
care may be taken in future that the same method of coining may be used at the
Patna mint as in that of Moorshedabad.
Bengal Public Consutations. IOR P/1/49, 29 October 1771. p607 also
numbered 308
Letter from
Herbert Harris (Calcutta Mint Master) to Government dated
I have now the
honor to lay before you the reports of the four Moorshedabad and the four Patna
siccas directed to be assayed in your orders to me of the 14th
October
Report of four
Moorshedabad siccas assayed at Calcutta
Weight 1 oz. 9
dwt. 22 ½ grs.
Average Wt 7 dwt.
11 5/8 grs.
Assay 2 rupees better 12 ½ dwts
1 ditto 12 ¼ dwts
1 ditto 12 ¾ dwts
Average better 12
½ Dwts. Then English standard, should weigh 7 dwts 11 2/3 grs, is therefore
1/8gr less than weight, and should be 13 dwts better than English standard, therefore
is ½ dwt worse then should be; the deficiency in weight and fineness is
equivalent to 4 annas, 5 pice per cent.
Report of four
Patna siccas assayed at Calcutta
Weight 1 oz 9
dwts. 22 2/3 grs.
Average weight 7
dwts. 11 2/3 grs.
Assay 2 rupees better 13 dwts
2 ditto 13 ¼ dwts
Average better 13
1/16 dwts better then English standard is therefore 1/16 of a pennyweight
better than the sicca standard, equal to five pice and one quarter of a pie per
cent.
Agreed copies of
them be sent to the Councils of Revenue at Moorshedabad & Patna with the following letters
We herewith send
you the reports of the Mint Master’s assay of 4 Patna and 4 Moorshedabad sicca
rupees which were sent down to us from Patna.
By these reports
you will perceive that the Moorshedabad sicca is deficient both in weight and
fineness and on the contrary that the Patna sicca is of the exact weight, but
of a fineness rather above the standard.
As such a
deviation from the standard and consequently such a difference in the rupees
coined at the two mints must obstruct most essentially the success of our plan,
and will be productive of many inconveniences besides reflecting on the credit
of Government, we must particularly desire that you will investigate the causes
of it and be careful that the siccas be in future kept up to the standard to
their weight and fineness, and we desire that you will be regular in sending us
monthly a rupee taken indiscriminately out of those in the mint that the same
may be assayed and reported to us.
Bengal Public Consutations. IOR P/1/49, 2 December 1771. p664
Letter
from Murshidabad to Calcutta dated
They
had received the letter about their rupees not being up to standard and would
reply when they had got to the bottom of the matter.
Bengal Public Consutations. IOR P/1/49, 2 December 1771. p666
Letter
from Murshidabad to Calcutta dated
On
receipt of your commands of the 29th ultimo we ordered an immediate
and strict investigation into the causes of the defects alledged to exist in
the Moorshedabad coinage . Reports have in consequence this day been laid
before us by the Naib Duan and the assistant superintending the mint. From
these (of which we transmit copies for your further information) it would appear
that such allegations are without just ground and that the Moorshedabad rupee
of the 12th sun is in fact both in weight and fineness rahter
superior to sicca standard. We shall be particularly careful in giving
injunctions for their being at all times kept up to the standard in both
respects and we shall regularly trnasmit you a rupee every month taken
indiscriminately from those in our mint to be assayed and reported at the
Presidency. A rupee is now forwarded to you for this purpose.
Ordered
copy of the report of assay be sent to the Mint Master with the rupee for
assaying and that he be directed to make his report to this Board.
Bengal Public Consutations. IOR P/1/49, 24 December 1771. p853
Assay
of the Murshidabad rupee shows that it is slightly better than sicca standard.
Bengal Public Consutations. IOR P/1/51, 26 February 1772. p402, the
assay is on p424
Letter
to Patna from Calcutta dated
We
enclose for your information the copy of a report delivered to us by the Mint Master,
whereby it appears that the Patna sicca sent down in your letter of the […]
proves to be ½ a pennyweight worse than sicca standard.
We
desire that you will issue strict orders for keeping up the coin to the
standard and purity, and inform the persons employed in the mint that a
repitition of this fault will meet our warm resentments
Bengal Public Consutations. IOR P/1/51, 31 March 1772. p543 also
numbered 274
Letter
from Murshidabad to Calcutta dated
We
enclose you a letter from our assistant superintending the mint and beg to
submit to your consideration the proposal which is therein made of decreasing
the mint duty with a view of enhancing the currency of the coin in the country.
We own we think this subjects merits your attemtion from the coinage having so
considerably dwindled & we are of opinion that it may with less [..ruple]
be adopted as the coiner is liable to all the mint charges over and obove the
Government’s duties, which we believe not to be the case in the Calcutta mint.
We also enclose you two rupees taken proniscuously from those coined in our
mint during the course of last month.
Calcutta
Council
Resolved
the Mint Master be called upon for an account of the duties and charges paid to
the mint by persons coining bullion there, as also an account of the real
charges and expenses incurred by the coinage of bullion.
Letter
from Mr Irwin, Superintendant of the mint at Murshidabad to Murshidabad
Council, dated 20th March 1772 (on p597 also numered 301)
I
think it incumbent on me to endeavour to assign to you the reasons of the great
decrease which will appear in the duties of the mint this year, and why they
have fallen so far short of the estimation put on them at the last Pooneah.
When the settlement for the year was on foot, I mentioned to some of the
gentlemen of your Board, that the mint was much overrated, and it was never to
be expected that the collections in that department would again amount to above
one third of either of the two preceeding years as the reasons for the great
increase in those times would, it was hoped, never occur again, namely the
distresses of the people of all stations in the very severe famine, which
induced them to dispose of all their plate and ornaments. This is the only kind
of bullion that comes to this mint (excepting what is brought by the Dutch
Company) and before the two preceeding years just mentioned seldom exceed one
lack of sicca weight, but was generally far short of that. The duties of 2½ per
cent (exclusive of the charges on the silver brought by the Dutch) composed the
principal, indeed nearly all that was collected. They have this year very
little exceeded the half of their former coinage, and these are the reasons why
this year’s duties will not amount to what it did three years ago.
The
immense duty exacted on all other silver is an obstacle and a great
discouragement to its being brought into the mint, and as the secret means of
increasing the currency of the country (and I take it the chief end of a mint
is for that purpose) is by encouraging the coinage, I would recommend a
remission of one half from the present duty in order to induce the shroffs to
collect and send in all the bullion they can. The Government at present drw 5
per cent on it clear of the charges of coinage. If it should be reduced to 2½
per cent I am pretty certain a greater coinage would ensue, and tho’ no
immediate profit to Government by an increase of duties, yet great advantages
would arise to the country from the increase of the currency.
Bengal Public Consutations. IOR P/1/51, 31 March 1772. p549 also
numbered 277
Letter
from Patna to Calcutta dated
Enclosed
we transmit you a rupee from our mint according to your orders.
P552.
Ordered the rupees be sent to the Mint Master
Bengal Public Consutations. IOR P/2/1, 18 May 1772. p271
Letter
from Patna to Calcutta dated
We
have not sent you a muster of rupees as the expense of coining being more than
the differences of batta between siccas and sonauts the mint is in consequence
shut. In our address of the 7th of September we represented the difficulty we apprehended
we should meet with in procuring sonaut rupees for the payment of the brigades
stationed in this province, & the inconvenience of paying them in siccas on
account of the discontent arising from the loss of batta and requested to be
favoured with your commands on what terms the troops should be paid in future.
We now find it difficult to procure a sufficiency of sonauts & the batta is
still lower than ever being as follows
Patna
12 sun siccas 1..14 per
cent better than sonauts
Patna 11 sun
siccas 1..4 ditto
Moorshedabad 12
sun siccas 1..12 ditto
Moorshedabad
11 sun siccas 1..10 ditto
This
is the present difference in our bazaars though they are all received into and
paid from our treasury on equal terms. Were only siccas received into our
treasury & the payments to the army made entirely in that specie at such a
rate as you might think proper to fix, so that the currency of sonauts might be
entirely abolished, the above mentioned inconvenience would be entirely
removed. We must beg leave to observe that the Company suffer a considerable
loss by the lowness of the batta about 20,00,000 rupees of our revenue are paid
in siccas and these used to produce about 20,60,000 sonauts whereas they now
only produce 20,30,000.
Resolved
that the troops in future be paid in sicca rupees & ordered that a new
account be drawn out of the pay and batta of the troops in sicca rupees instead
of sonaut estimating the sonaut rupee at 11 per cent better than current and
the sicca at sixteen,
General
Barker’s letter on this subject dated the 19th November 1771 which
lay for consideration is now entered as follows
I
have perused your favour of the 16th September respecting the new
regulations for establishing a fixed currency throughout the provinces, and the
abolition of the custom of the fall in the value of the sicca rupees of the
preceding year. I conceive that if these regulations & the currency of the
new siccas are well established in the revenues, & supported with rigour by
the Councils of that department, there can be no hesitation in the exchange in
the military bazaars, & consequently no loss to the soldier, for by the
information I have obtained, the cause of the complaints of the losses on the
exchange of the sicca rupee, arises from their not passing curent at the same
batta in the provinces as they are issued by the paymaster, the shopkeepers
cannot pass them in the country but at a considerable discount, &
consequently refuse to receive them but at the same value. If the new siccas
are made to pass current in the provinces for the value they are received at,
they will of course pass so in the military bazaars. I presume it will be
necessary to abolish the currency of the sonaut rupee, otherwise individuals
will judge of the value of the sicca by a comparison with the sonaut, & the
sonaut must rise nearly equal to the sicca as they grow scarce, the intrinsick
value being the same. There appears to be one effectual way of accomplishing
this, which is by receiving in the revenues those rupees for something less
than their currency.
As
at present a general order exists that the troops are to be paid in sonaut
rupees, it will be necessary that another order be issued by the Honble President
& Council, for paying the army in siccas only, with such a batta that there
may be no increase or decrease of the soldiers pay, according to their present
allowance. The commanding officer of the brigades will then regulate the
currency in their bazaars & the soldier will exchange his rupee for the
same he receives it.
I
must further beg leave to observe that it will depend entirely on the Councils
of Revenues & supervisors of districts to enforce these regulations, for it
is of no signification what specie the army is paid in provided the troops can
exchange their money for the value they receive it, the usual allowance to the
shroffs excepted.
Bengal Public Consutations. IOR P/2/3, 26 April 1773. p367 also numbered
243
Letter
from Patna to Calcutta dated
We
have been favoured with your letter of 21st August and herewith
transmit for your observation the [Arzees] of Neem Chund, Assay Master of the
gold coin in the Patna mint, and Juggernaut who had charge of the mint last
year, containing an account of the debasement of the gold coin. We enclose you
the two halves of the Moorshedbad gold mohur mentioned by them, and also an 11
sun Moorshedabad, and 12 sun Patna gold mohur now brought from our [bazar].
There
are then some assay figures
We
cannot learn that any English orders were ever received here relative to the
standard you had fixed in Calcutta, and you will observe by the above accounts
that the finest mohurs which have been coined here were considerably deficient
in purity. The latter debasement appears to have arisen from a close adherence
to the standard of Moorshedabad agreeably to the orders which have been
transmitted to Raja [Shitabroy]. We have now ordered that no mohurs shall be
coined here in future.
There
are then some assays of rupees
We
take the liberty of submitting this account of our silver coin to your
observation that you may favour us with proper directions for amending it in
case it should in any respect deviate from your regulations.
Arzee
of Juganaut, Daroga of the mint
Near
the end of the year 1178 the middle of 1171 the [behoparies] brought gold to
the mint to be coined into mohurs. Radakissen Nundy Naib to Durgachurn Meeter
who then had charge of it, sent to the bazar for a Moorshedabad mohur and
desired me to take it to the Maharajah together with the gold and obtain his
order for coining (I took Nim Chund, the Assay Master, with me to the
Maharajah) and showed it to him. The Assay Master informed him that this
Moorshedabad mohur was less pure than the old Patna ones. The Maharajah ordered
they should be made according to the muster of Moorshedabad, and that I should
cut it and deposit one half under my seal and give the other half to the Assay
Master and that the mohurs should be made of that standard. Accordingly I cut
it and deposited one half with the above Radakissen [Lundy?] from whom it was
afterwards transferred to [KeraChund] who succeeded in the charge of the mint.
The other half is in the hands of the Assay Master.
Arzee
of Neem Chund, the Assay Master
At
the desire of Durgachurn Meeter I went with Jagarnaut, Daroga of the mint, to
Maharajah Sitabroy and showed him a Moorshedabad mohur. I informed him it was
not a good one. He replied, if not, it is not your fault. The Patna mohurs must
be made agreeably to the Moorshedabad standard. The mohur was cut and I have
got one half of it. The other was left with the Darogah and is now in
possession of Kerachund.
Calcutta
Council
The
coinage of gold mohurs being discontinued at Patna, it is needless to give any
further orders on that subject
Bengal Public Consutations. IOR P/2/3, 3 May 1773. p378
Letter
from Patna to Calcutta dated
Enclosed
is a sicca rupee taken indiscriminatley from among those coined in our mint
this month
Bengal Public Consutations. IOR P/2/4, 23 August 1773. p200
Assay
Master ordered to assay gold coins of the 11 & 12 sun taken from
circulation.
Bengal Public Consutations. IOR P/2/4, 2 September 1773. p219
Assay
Master (Samuel Gouchet) asks for coins to be supplied from the Treasury.
Treasury ordered to provide them. Murshidabad and Patna reminded to send
samples of their coins for assay
Home & Miscellaneous Consutations. IOR H/357, No 10, p435
Board
of Inspection dated
Instructs
the Mint Master (Charles Lloyd) to reduce the mint establishment from 1st
October
|
Assay
Master |
250 |
|
Banian
& Attendants |
150 |
|
1
Mohurcund or stamp cutter |
85 |
|
1 ditto |
40 |
|
1 ditto |
40 |
|
1 Turajoocuss
or person for ascertaining the standard weight of rupees |
100 |
|
1 ditto |
20 |
|
1 Purkea
or shroff |
10 |
|
1
Goozashgeer or melter |
60 |
|
1
Chochneyker or native assayer |
20 |
|
1
Mushlader or preparer of the composition for refining |
5 |
|
1 Panacus
or Gold Refiner |
25 |
|
2
Seckchees. Persons who fix the die |
45 |
|
4 Goneahs.
Hammermen or persons who strike the die |
36.8 |
|
2 Loadahs
or silver refiners |
40 |
|
10 Duraps or
persons who prepare the gold and silver into the proper form and weight for
coining |
402.8 |
|
Chandepit
or beater |
7 |
|
5 Nearahs
or persons who wash and sift the dross |
23 |
|
2 coolies |
7 |
|
3 Lohars or
smiths for making and repairing the mint utensils |
20 |
|
Jemadar,
Peons & Durwan |
29 |
|
|
|
|
|
1415 |
|
|
|
|
Batta @ 16
% |
226.6.6 |
|
|
|
|
|
1641.6.6 |
|
|
|
|
Charity,
Bulvam, Byrobe & Ramchurn, pensioners from the first establishment of the
mint |
6.15.6 |
|
|
|
|
|
1648.6 |
Bengal Public Consutations. IOR P/2/4, 27 September 1773. p315 also
numbered 159
22nd
September 1773 Assay of Gold Mohurs
Calcutta
RY 10 & 11. Murshidabad RY 10, 11, 12. Patna RY 10, 11, 12.
No
RY 12 for Calcutta and nothing for
Also
some rupees assayed.
Bengal Public Consutations. IOR P/2/4, 4 October 1773. p335 also
numbered 169
Assays
of a half mohur & a sicca rupee from Murshidabad. And a sicca rupee from
Bengal Public Consutations. IOR P/2/4, 15 November 1773. p611 also
numbered 307
Gold
and silver coins minted in October sent from Murshidabad for assay
p617
also numbered 310. Assay Masters report on two half gold mohurs and two rupees
from Murshidabad.
Bengal Public Consutations. IOR P/2/4, 22 November 1773. p636
From
Patna dated
Account
of Gold mohurs coined in the Patna mint from the 1st of the 10th
sun to the end of the 12th sun
In
the 10th sun 18,149-13
In
the 11th sun 4,817
In
the 12th sun 2,048
Total 25,014-13
NB
There were several smaller coins struck & these are included in the above
amount
Bengal Public Consutations. IOR P/2/4, 22 November 1773. p658
Assay
of gold and silver coins of Murshidabad. Again, half mohurs.
Bengal Public Consutations. IOR P/2/5, 10 January 1774. p115
Letter
from Murshidabad to
In
pursuance of your orders contained in your letter of 22nd November,
I have the pleasure to enclose you an account of the number of gold mohurs
which were coined in the Moorshedabad mint of the 10th 11th
& 12th suns
10th
sun 73,928-6-13-3
11th
sun 60,311-6-9-1
12th
sun struck to the end of Ranzaun of the present 15 sun of Shah Allum on
37,647-1-12-3
Total 171,886-14-15-3
Bengal Public Consutations. IOR P/2/5, 17 February 1774. P387
With
respect to coining the Company’s money into siccas or Arcots, I apprehend it is
not entirely a matter of choice. We have but one refiner in the mint who cannot
refine above seven hundred per diem and therefore there cannot of that silver be
coined more than twenty one thousand in a month. Whereas we can coin you twenty
five thousand Arcot rupees a day, there being no occasion for any process of
refining. I imagine it will only be necessary to acquaint the Governor of this
circumstance to determine him in giving his orders relative to it.
There
then follows an assay report of various types of rupees. And then:
Resolved
that the first sorts mentioned in the above report be immediately restamped
into the Arcot specie and that the other be left in their present state till
further orders and in the meantime that the sub-treasurer be called upon for an
account of the number of each kind.
Bengal Public Consutations. IOR P/2/5, 4 April 1774. p671
Letter
from Patna dated
We
have also directed copper tickets to be struck for the use of the post office
and I shall afford every assistance in our power to its regular establishment
in the district under our charge.
Bengal Public Consutations. IOR P/2/5, 4 April 1774. p672
Letter
from Murshidabad dated
Enclosed
I have the honor to transmit you two sicca rupees and one gold mohur taken
promiscuously from amongst those now coining in the mint of Moorshedabad.
Bengal Public Consutations. IOR P/2/5, 11 April 1774. p708
Assay
of gold half mohur reported
Bengal Public Consutations. IOR P/2/6, 30 May 1774. p14
Report
on the assays of old and new Benares rupees. Also request to know how many
[Viziery?] remain to be coined
Bengal Public Consutations. IOR P/2/6, 20 June 1774. p151
Charles
Lloyd (mint Master) reports that there are 504,697 Viziery rupees to be coined.
The Assay Master (Samuel Touchet) then goes on:
I
have been honored with your commands of the 30th ultimo directing me
to lay before you an account of the number of standard sicca rupees which may
be produced from 504,697 Viziry rupees now in the treasury, as well as an
estimate of the expenses that will attend the operation of refining and
recoining them into siccas. But as this estimate can only be formed from
experiments upon the different sorts of Viziry rupees I request you will be
pleased to order 10,000 of such species to be issued from the treasury in order
that from a proper tryal I may be able to furnish you with the amount and
estimate required.
There
having been no other rupees but those of the Arcot species coined in the mint
here since the last alteration in the Sonne of the sicca in the year 1771, has
rendered the silver refiners of little use and there has been therefore only
one head man and his mate kept for this business, who cannot refine more than
from 1000 to 2000 sicca weight of viziry silver per day, which would render the
refining of 500,000 an almost endless task. I will therefore request that you
will be pleased to order the superintendent of the mint at Moorshedabad to
supply us with as many silver refiners as he can procure as I am informed we
can only be supplied from thence.
I
would also beg leave to recommend to your consideration the propriety of
putting a new sonne to the new coined siccas, it being now the 15 sonne and
only 12 sonne siccas have yet been struck, as also the necessity of recalling
the 11 sonnes which from their long circulation have lost considerably of their
value and are also much defaced.
Ordered
that 10,000 of each sort of the Viziry rupees now in the treasury be sent to
the mint to be refined and restruck into standard sicca rupees and that they be
stamped with the 15th sun of the King’s reign
Bengal Public Consutations. IOR P/2/6, 8 August 1774. p328
Letter
to Murshidabad.
Mr
Edward Fenwick having resigned the office of Mint Master at Moorshedabad we
have thought proper to appoint Mr Christopher Keating who has directions to
proceed to take charge of it accordingly.
Before
Mr Fenwick there appears to have been a Mr Irwin (see bottom of page 328)
Bengal Public Consutations. IOR P/2/6, 22 August 1774. p357
Letter
from Murshidabad to Calcutta dated
As
I observe you have been pleased to appoint Mr Keating to the office of Mint
Master at the City under my control as Resident at the Durbar, I beg leave to
observe that I am somewhat at a loss to know how far my authority is to extend
and shall be glad to have the nature of this appointment defined, both for the
satisfaction of the Mint Master and myself.
Reply
The
superintendant of the mint at Moorshedabd in the execution of the business of
his office and in rendering his accounts is to act under your orders and
control in the same manner as Mr Irwin did under Mr Becher, the former Resident
of the Durbar when that appointment originally took place and afterwards under
the Chief and Council of Revenue at Moorshedabad.
Bengal Public Consutations. IOR P/2/6, 5 September 1774. p407
Murshidabad
sends a half mohur and two siccas rupees to Calcutta for assay.
Bengal Public Consutations. IOR P/2/6, 5 September 1774. p417
Letter
from the Assay Master
Accompanying
I beg leave to lay before you the account of the produce of the Vizry rupees
504,697 in the Company’s treasury, specifying the produce of 100 rupees of each
sort refined as well as the amount of the whole calculated at the same rate and
an account of how this difference arises showing the loss arising from alloy
and that from short weight. There has been refined in all 9000 of the first
sort, 2000 of the second and 5000 of the third.
In
my former address I represented the almost endless task which it would be to
have this money refined to sicca standard there being but one refiner and his
mate retained in the Calcutta mint, and therefore pointed out the necessity of
ordering as many refiners as could be procured to be sent down from
Moorshedabad if the Board determined to have the whole refined. Give me leave
now to lay before you an estimate of what the greatest part of the same money
would turn out if coined into Arcot rupees which would at once obviate these
delays and be a considerable saving to the honble Compnay because the standard
of the Arcot rupees being worse by 5 per cent than sicca standard, the Vizry rupees
by being mixed with better silver may be brought to the standard of Arcot
without refining and so prevent the loss attending that operation…
The
Board taking this matter duly into consideration ordered that the whole of the
Vizry rupees referred to in the above letter be recoined into Arcot rupees and
that the Assay Master be directed accordingly and that he apply to the Board
from time to time for such sums in sicca rupees as he may require to standard
them with.
Bengal Public Consutations. IOR P/2/6, 12 September 1774. p437
Letter
from the Assay Master dated
In
obedience to your commands of the 5th instant I request an order to
the treasury for the payment of the old Vizry rupees 329,697 into the mint and
of sicca rupees 329,697 to standard them with, and when these sums have been
recoined and repaid into the treasury will make further application for an
order for the remainder.
Bengal Public Consutations. IOR P/2/6, 12 September 1774. p438
The
assay of the gold half mohur and the rupees from Murshidabad showed that they
were not up to standard. The Resident at Murshidabad was directed to ensure
that the superintendent of the mint should pay particular attention to this.
Bengal Public Consutations. IOR P/2/6, 3 October 1774.
Letter
from the Resident at Murshidabad (Samuel Middleton) to Calcutta, dated
He
had received the assay report and immediately transmitted it to Mr Irwin, the
Mint Master.
Letter
from the Mint Master at Murshidabad to the Resident dated 24th
September
Basically
saying he couldn’t understand how the problem had arisen but would take special
care in future.
Bengal
Consultations. IOL P/2/,
Letter
from W Keating (Superintendant of the mint at Murshidabad) to Calcutta, dated
Permit
me to lay before you that the business of my office is much impeded on acct the
Dutch superintendent and black merchants will
not have any more money coined of the twelve sun sicca but want a new coinage
of fifteen suns, they having heard that money has been struck of that stamp at
the Presidency. I have therefore to request your orders for coining of fifteen
suns. I have the honor to enclose a half gold mohur & two sicca rupees
struck the last month for your inspection and flatter myself, with care, shall
make my office turn out to more advantage to the Honble Company than it has
hitherto done.
Agreed
that rupees of the 15th sun be struck in the Moorshedabad mint and that
the following directions be sent to the Council at Moorshedabad
To
Edward Baber President in Council at Murshidabad from Calcutta, dated
Mr
Keating, the superintenant of the mint at Moorshedabad, having addressed a
letter to us on the subject of the coinage, we think it necessary that you
signify to him that his direct address to us was improper, as his office is
immediately depending on you, & that for the future all his communications
on the business of his office must be made thro’ the channel of your Board.
However, as we deem the proposal he makes for a new coinage fit &
expedient, we direct that you authorise him to coin rupees of the 15 sun
agreeable to it.
Bengal
Consultations. IOL P/2/,
Letter
from Charles Lloyd (Calcutta Mint Master) to Calcutta, dated
Samples
of the Viziery rupees having been assayed it is found thereby that they require
121,000 sicca rupees to standard them to Arcots. I am therefore to request you
will grant me an order on the treasury for that sum.
Ordered
that an advance of sicca rupees 121,000 be accordingly made to the mint for the
purpose above mentioned.
Bengal
Consultations. IOL P/2/, 4 May 1775. p53
Extract
of a letter from Patna to Calcutta received
Enclosed
we send you a table of the several denominations of rupees in circulation in
this province with the batta they now bear in the bazar reckoning the sonat as
standard. Tho’ we before recommended to your consideration the relief of the
farmers by receiving the different species into the Treasury at a standard
batta, we could not be understood to mean all the various coins enumerated in
the table, which would occasion endless trouble and confusion in the receipts
and disbursments, but only such as are most generally current. These we would
confine to three, siccas, sunats & Benares. The farmers instead of the rule
which has hitherto prevailed to pay in the specified coin mentioned in the
[Cubboolict] to be allowed to discharge their rents in either of the above at
the following rates
Siccas
Sonauts
104-8 equal to 100 siccas
Benares
105 equal to 100 sunats
The
batta on Benares rupees five years ago was not more than three. It is at
present thirteen per cent, so that they are obliged to be sent to Benares to be
exchanged. Five per cent we are informed is nearly about what they ought to
bear from their quality and weight.
But
more effectually to answer the above purpose and to diffuse the benefit more
generally through the province, we would recommend the reestablishment of the
mint. The good attanding it we imagine would be the establishing of one coin by
the bringing in of the many spurious rupees at present in circulation, whereby
the inhabitants are subjected to whatever imposition of batta the shroffs
choose to fix for their own emoluments, and the encrease of the currency by the
coining of silver ornaments. All money melted down for the manufacture of plate
etc being at present so much lost to the circulation, the proprietors however
desirous of recoining it, not having it in their power from the distance of a
mint. We do not perceive any ill consequences necessarily resulting from the
coinage. Care should be taken that the standard weight and fineness be observed
and that the mint might not be burdensome to Government. The expense should be
defrayed by those who send bullion to be coined which the merchant would very
readily comply with.
Should
you think proper to re-establish the mint here, the view of reducing the
several kinds of rupees to one, would be better promoted by excluding the
Benares rupee from the Treasury and receiving only siccas and sonauts as
before.
Table
of Rupees
Better
than sonnats
|
Sicca of
the 11 & 12 year |
6 to 7 per
cent |
|
Sunnauts
of the 5th Year of Shaw Allum |
2 annas
per cent |
|
Sunnauts
of the 9th Year of Shaw Allum |
12 ditto |
|
Sonnats of
Muhomed Shaw |
|
|
Sonnauts
of the 1st, 2nd, 3rd, 4th, 6th
& 10th Year of Shaw Allum |
|
Worse than Sonnats
|
Benares |
13 per
cent |
|
Allahabad |
12 |
|
Lucknow |
12 |
|
Fyzabad |
12 |
|
Korah |
20 |
|
Wuzzery |
20 |
|
Farrukhabad |
12 |
|
Allawa |
20 |
The
Board being unwilling to determine too precipitately on a subject of such
importance nd extent as the re-establishment of the mints, propose the following
questions for their separate considerations
1. whether
it is most expedient to re-establish the mints of Patna and Dacca or to allow
only one mint to be established in Calcutta for the coinage of the two
provinces.
2. Whether
supposing the acient mints to be re-established all the rupees shall be struck
as has hitherto been the practice with the name of Moorshedabd only or the
rupees of each mint shall bear the name of the plaqce to which it belongs.
Agreed
that these questions be sent in circulation to the different provincial
councils
Bengal
Consultations. IOL P/2/10, 15 June 1775. p282
Letter
from the Sub-Treasurer
…Very
few Moorshedabad siccas are now procurable in the buzar and a heavy premium is
demanded on those that are to be purchased. I did not think myself authorized
to purchase Moorshedabad siccas at so advanced a rate & thereby subject the
Company to the loss which Mr Prinseps alledges he would have sustained by
receiving gold instead of silver.
You
will please further to inform the Board that the sicca rupees which are seen in
the weekly state of the Treasury are Mongheer siccas. I do not distinguish them
from other sicca rupees because by an order of the late Board of 27th
March 73 all sicca rupees of what denomination soever, are received into and
issued from the Treasury on a par one with the other, notwithstanding which the
shroffs make a difference between the Mongheer & Moorshedabad siccas, the
former selling commonly at a discount and the latter with a premium. This makes
it difficult to issue them from the treasury for, although they are received
there on a par with the other sicca rupees, those who have demands on the
treasury make many objections to take them in payments, representing that they
shall be losers by being paid in that specie.
PS
I have made all the enquiries I have been able concerning the Moorshedabad
siccas in the bazar and from the best intelligence I can get, I find that the
shroffs would not be able to furnish above 5000. For the 12 suns they demand a
premium of 1 rupee 8 annas per centand for the 11 suns, twelve annas per cent.
The reason assigned for the present scarcity is the heavy advances made for
cloths by the Company as well as individuals in Moorshedabad siccas to the
Aurungs. It is imagined this scarcity will continue till July or August when
they will begin to come in again from the country.
Bengal
Consultations. IOL P/2/10, 19 June 1775, p303
Letter
from the Mint Master, Charles Lloyd, to Calcutta, dated
Agreeable
to your commands of the 15th instant, I must beg leave to inform you
that the present establishment of servants in my office, constantly employed
without the least degree of interuption, can coin no more than six lacks of
rupees per month. To enable them to coin ten lacks of sicca rupees the
undermentioned additional number of servants will be required, viz
15
Duraps, or setts of coiners
1
Googasheer, or re-melter
3
goonnooahs or stampers
2
Loahars or smiths
2
coolies
With
this additional number of servants, I shall be able to coin ten lacks of sicca
rupees per monthfrom bullion or old sicca rupees, but to recoin them from
Arcots or Oude rupees or any other coins of an inferior standard there will be
a necessity of having 65 Soadars or refiners, which number it is impssible to
get either here or at Muxadabad. The most that could be procured at both places
would be no more than twenty, which would not be able to refine scarce three
lacks per month.
p332
Resolved
that the Mint Master be ordered to continue still to recoin them into Arcot
rupees and that he be empowered to engage the additional number of servants
which he represents in his foregoing letter to be necessary to enable him to
coin to the extent of 10 lacks of rupees per mensum
Ordered
that the Mint Master be further acquainted that the Board expect him with this
assistance to recoin the whole sum remaining for that purpose at the above rate
and that when he has accomplished it, he report the same with a state of his office
to the Board of Inspection for them to consider on the expediency of keeping up
the establishment
The
Board now proceeding to take into consideration the subject of coinage in the
different mints and the expediency of re-establishing or abolishing those at
Patna &
Read,
Mr Francis’s minute on the subject of coinage in consultations 13th
March
Read,
the following letters of opinions of the provincial councils of Moorshedabad,
Patna, Dacca & Burdwan, in reply to the questions proposed to them the 4th
ult.
Letter
from Murshidabad to Calcutta dated
…the
mints at Patna, Dacca and Moorshedabad are useful in facilitating the coinage
of any sums or bullion that the inhabitants of the respective districts may
have to coin, and saves them the risk, expense and delay which would attend
sending their bullion or money to Calcutta. Whilst the convenience of coinage
was near, it might perhaps induce people to recoin other species of rupees or
bullion, which they would not do when the risk and expence were so much
increased by the distance of the mint.
Patna
is in a manner a distinct province from Bengal, and its peculiar situation
makes this reason for establishing the mint there of more force than at the two
others, but there is on the other hand a peculiar circumstance attending the
mint at Moorshedabad which sums as forcible as this, of which however, you
gentlemen are the only judges. We mean the priviledges the Dutch have by their
Firmaun of coining money here, which would be abrogated by the abolition of the
mint. If the mints are re-established at those places, the shroffs will not
fail to levy a batta on the Dacca and Patna mints. This they always did, and
what is remarkable, it is hardly possible to elude their knowledge of what mint
the coin is stamped at. If the mints are re-established we imagine it would be
best to have all the rupees struck with one mark only, to prevent as much as
possible this arbitrary charge of batta. The objection to this is that if the
coin be debased it would be difficult to detect at what mint it was debased.
This again in some measure might be obviated by having one sett of servants
under one head person, these servants to be distributed to each mint and this
head person to be answerable for all deficiency in weight or fineness of the
standard.
The
batta on rupees is a tax on the merchants, the farmer & the ryott, which
becomes the profit of the shroffs. Any circumstance serves them as a plea for
levying it and therefore if the coin could be reduced to that simple mode which
would remove every distinction, whether of specie or standard, we think the
country in the end would be benefitted. The shroffs will oppose every attempt
of the kind, and they are the most moneyed men in the kingdom. Of course, they
would for a while have it in their power to affect both the revenue &
trade, and if they were to remove out of the kingdom, they would take a great
deal of specie with them. How far this is an object to be put in competition
with the other we cannot pretend to say
Letter
from Patna dated
…We
have already represented to you in our letter dated 27th March the
expediency of re-establishing a mint at this place and we apprehend the same
reasons will hold good with respect to Dacca. You will therefore permit us to
repeat. We are still clearly of opinion that the advantage of the Company, the
convenience of the inhabitants and the good of the country in general all
combine to render such a measure absolutely necessary. The difficulties the
renters labour under in procuring sicca or good sonaut rupees to make their
payments in, and the losses and inconveniences that result therefrom, we have
before taken notice of, and the impracticability of sending bullion &
rupees of a different specie to Calcutta to be re-issued is too obvious to need
mentioning. The abolition of the mint has had such an effect on the price of
both gold & silver bullion at this place, that it is now 4 or 5 per cent
cheaper than before was ever known. The renters are now unable to procure rupees
of standard value and must of necessity offer such money as comes to their
hands and as it will be impossible to affix any precise batta to the various
species of rupees in the currency of the province, continual opportunities will
arise to the shroffs for imposing upon us as well as upon the ignorance of the
natives, and diffidence and distrust universally take place. If it is alleged
that the siccas coined at Calcutta must eventually pass through all the
provinces, we will admit the position, but at the same time we must observe
that the inhabitants of different districts have an aversion to any coins that
do not bear the stamp of their own capital, and this is evinced by the batta
which is taken on the rupees of Calcutta and Moorshedabad, tho’ superior to
those of Patna in weight & fineness. Besides it is scarce possible to coin
the rupees in the different mints so alike as not to be discovered. As you have
therefore granted us the liberty of offering our opinions in this measure, we
humbly beg leave to recommend the re-establishment of the mints of Patna &
Dacca in preference to that of a single one at Calcutta, and that the rupees
coined at each place shall be of one value in respect to weight & fineness
and bear the name of the place where they are stamped without being liable to
any deduction in point of batta in succeeding years, which though it may seem
but reasonable when the money shall have been worn down so as to have lost
greatly of its original weight, or have suffered by clipping or other arts practiced
in this country in the same manner as in Europe may be obviated by its being
called in and undergoing a recoinage when the loss attending it will not be
considerable & must principally affect the monied men.
Letter
from Dacca Council to Calcutta, dated
In
considering the subject of the questions you are pleased to propose to us in
your letter of the 4th instant concerning the coinage, we judged it
would prove most perspicuous to bring together into one point of view all the
arguments which occurred to us, either for or against the re-establishment of a
mint in this province. They are principally the result of local information,
and we shall be happy if they may be found in any way serviceable to you in the
general regulations you propose hereafter to adopt. Our ideas thus arranged, we
have the honour to enclose No 1 & 2, accompanied by some accounts of the
fluctuations of batta for a period of about 5 years (No 3 & 4) which have
been procured from different sources by our chief. We transmit also an extract
from out proceedings of this day relating to the same subject.
To
your second question, we reply that the rupees coined at Dacca were formerly
struck with the name of the place but latterly with that of Moorshedabad. As to
the future, in case the mint should be re-established, here it is our opinion
that the rupees should all be of the same standard and weight but that they
should bear the name of the place where they are coined, that the stamp
likewise should be minutely the same except only the name of the place which is
now specified in the lowest partition of the side which exhibits the year of
the reign. We see no reason for preferring a distinction of the coin of each
mint rather than having them all to bear the same name, but that we apprehend
the former mode will render it more hazardous to attempt frauds and
adulterations at either mint, and if there should be any they will be probably
less difficult to trace and investigate.
Extract
of the Proceedings of the Dacca Provincial Council of Revenue,
The
Board having minutely examined the effects that would probably result from the
establishment of a mint in this province, and the effect which now attend the
want of one, hav drawn up their sentiments at large which, together with some
accounts of the rise and fall of batta for the last five years, they now record
as follows:
Tables
of the batta from month to month are to be found starting at p353
Arguments
against the re-establishment of a mint at Dacca
If
a mint at Dacca should strike none but sicca rupees, it would prove favourable
to zemindars etc by preventing an exhorbitant batta from being charged upon
their payments in that coin during the two months of heavy collections. Sicca
rupees are wanted for no other purpose. Arcot rupees are advanced to the
weavers for the investment of this district and that of Luckypore, and to the
molunghees for salt. In short this is the chief currency of the provinceexcept
in the town of Dacca. The French formerly imported their own Arcot rupees which
pass everywhere current, but pricipally about Gualparah, Chilmarry etc, &
merchants, when the trade of the district flourishes, send Arcot rupees from
the Presidency. The sicca rupees formerly coined here were sent pricipally to
Moorshedabad as revenue, and the English provided their investment with Arcot
rupees transmitted from Calcutta. Since therefore no sicca rupees can arrive
from the mofussil, it would be an injury to have all the Arcot rupees which are
brought hither for the publick revenue, recoined into siccas, a species which
is not current, & in all probability such a scarcity of Arcot rupees would
result from that practice as would proportionally raise their value in exchange
as much as the value of siccas is raised now during the heavy collections above
that of the species generally current in circulation. In support of this
argument we may observe that whilst the mint subsisted here, the sicca rupee
frequently fell to only 4 & 5 percent upon Arcot, and in the year 1770 it
even fell so low as one percent. Perhaps in a future year if the mint should
not be re-established at Dacca, it might prevent siccas from running to an
exhorbitant price if the renters were to have permission during the urgent
season of payments, to pay half in siccas and half in good Arcots, or some
other tempoary regulations of Government might be adopted with good effect.
If
the circulating quantity of Arcot rupees should be diminished, without
conciliating the minds of the people to the currency of Sa rupees, we conclude
that the former, being difficult to procure would bear a high batta. The
Company, taking Sa rupees from the revenue treasury must buy up Arcot rupees to
advance to the weavers & salt manufacturers to the amount of at least 20
Lacks of rupees, and the loss would fall upon the Company. The loss now arising
from a high batta upon sicca rupees at one particular season of the year does
not fall upon the Company but upon the zemidars & ryotts.
So
far we agree upon a supposition that it is the object of Government to
introduce the sicca into general currency and would only allow that species to
be coined at Dacca, but such is the infuence of prejudice and custom over the
minds of men in general, and particularly with the men of this country and so
prevelant has the skill of chicanery of money jobbers hitherto proved for
defeating publick regulations in the coinage, that the practicability of such a
scheme appears very uncertain upon the subject. It may not be unworthy of
remark that the introduction of a higher denomination of money in any other
country tends to raise the price of wages and commodities.
As
to a mint for the coinage of Arcot rupees, we think there is great room to doubt
whether any considerable benefit would result from such an institution, because
if the trade of this province is good and prosperous there will be an annual
importation of Arcot rupees for the purchase of cloths, beetlenut & grain
to the amount of many lacks of rupees and because the distribution of the
current species from wear and clipping cannot be considerable as to keep a mint
in continual employ.
Moreover
it may [be] doubted whether the expense upon [burning] and recoining old silver
would not prove greater to the proprietor, than the loss arising from the
valuation of the bankers at which it might be passed in circulation providede
the trade of money is unrestrained, & individuals are not compelled to
submit to the valuation of any single banker. We heartily wish any plan of
measures could be formed effectually to destroy the combinations &
pernicious arts of these men, which has at all times been a subject of
complaint. Hitherto our Government has certainly failed in this important […].
For in a country where there is such a great variety of coins in currency,
where particular denominations of money are appropriated to particular articles
of merchantdizes, where purity of the standard coin renders it more liable to
loss from friction, where there is no check upon clipping, like the milling of
the English and many other European coins, and where all the authority of
Government has proved insufficient to impose a price upon its coinages beyond
the intrinsic value of the metal. The interests of society seem to [be] under
the employment of bankers and money changers necessarily, and it appears
difficult if not impossible to prevent deceitful and fraudulent practices. The
establish of a mint appears indeed the most likely expedient, but the influence
of a mint in putting a just valuation upon debased money can hardly extend
beyond the town where it is established.
A
multiplication of mints increases the hazard of variation from the established
standard, and makes it more difficult to trace frauds in the coinage. From some
cause or other it has generally happened that rupees coined at different mints,
although declared to be of equal standard have been subjected to a batta upon
their currency when transported from one place to the other respectively. This we
suppose to have arisen in some cases from a real difference in the standard but
more frequently from the artifice & collusions of the shroffs.
Arguments
for the re-establishment of a mint at Dacca
The
re-establishment of a mint at Dacca would produce the good effect that as the
revenues are paid by the principal farmers in sicca rupees and no other
species, the operation of a mint might prevent the inferior tenents and ryotts
from being injured by the chicanery of bankers and those through whose hands the
money is conveyed to the publick treasury. This is done every year in the
season of heavy collections when the demand for sicca rupees becomes most
pressing and there is accumulated in the bank or treasury to the amount of 8 or
1,000,000 sicca rupees. In the last year particularly the batta rose as high as
12½ percent above Arcot rupees or 4½ percent higher than the established
Company’s valuation, and if any other single species was to be required for the
payment of the revenue, as gold for instance, which is not commonly current, or
passes but in small quantities thro’ the province, the like temporary
enhancement of its price would necessarily prevail in the markets. Thus an
exhorbitant batta may be raised upon the Sa rupee because it is employed in this
district no otherwise than as an engine of payment in the publick revenue, and
not being the current coin of the district its circulation is almost confined
to the town of Dacca, where it is converted into an instrument of advantage
amongst those who are enabled to keep up or pay away large sums in a very short
space of time. When the periodical payments of the revenue are small, the sicca
rupee sinks below the common equation of 8 percent above the Arcot rupee.
It
has not happened for several years that any money has been sent out of the
province in publick revenue but if after paying the advances of the Dacca &
Luckypore investment etc there should ever be a balance of treasury to be
remitted to the Presidency in sicca rupees, the scarcity of this species would
thereby be annually enhanced, because there is little or no importation of
sicca rupees for any article of trade. A mint therefore would be able to supply
that diminution.
A
small revenue used to be paid by the mint, but this is a trifling object. Besides,
supposing the same quantity nearly to be coined at one general mint as at
several provincial mints, Government will probably draw a greater benefit from
having only one establishment.The difference on either side cannot be
considerable.
As
little or no money is carried out of the province, a mint might be beneficial
for the purpose of renewing the current coin when it bacame much debased by
friction & clipping, and the possessors are more liable to be injured by
the arts of the bankers in giving an arbitrary value to it from this latter
circumstance. There is a considerable tax now raised by them upon od rupees
under the title of ramkummah, to the amount of 2 & 3 percent. This we
understand to be a charge inclusive of short weight (which is general called
kum wozn [wozu]) taken to make good to the purchaser of very old and battered
rupees which are frequently mixed with base rupees of copper & toothanague
etc. The loss which may be supposed to arise in burning them down for the
purposes of the silver smith, and reducing them to the standard of sicca
rupees, or in transporting them to Calcutta or Moorshedabad to be recoined.
It
appearing doubtful from the above arguments whether the establishment of a mint
in this province will be attended with benefits of disadvantages, and messers
Pushing and Holland having positively decided in favour of a mint by their
former recommendation of it to the Honble President in Council, to avoid an
apparent inconsistency they beg leave to remark that they have now considered
the subject in an enlarged sense as it may affect the country in general,
whereas when they formerly recommended the re-establishment of the mint it was
upon the pressing representations of the zamindars & farmers of the
inconveniences they experienced from its abolition, and merely as it might be
an ease to the people under the immediate care of this Board in the payment of
their rents. Mr Shakespear begs leave to refer to a minute recorded by him on
30th March last for his sentiments as to the benefit likely to
accrue to this province in particular from the re-establishment of its mint
partially considered without any reference to what might be the effects of a
general institution of provincial mints throughout the Company’s possessions.
Mr
Shakespear’s minute recorded on the proceedings
I
beg leave to call the attention of the Board to the immediate removal of a
grievance which bears extremely hard upon the zemindars and requires a speedy
remedy. I mean the very extraordinary and exhorbitant batta upon the sicca
rupee. In perusing the proceedings of the 29th December last ( at
which time I was absent), with pleasure I observe the Board have already
considered the subject & recommended to the Honble Governor General &
Council the re-establishment of the mint as the most likely measure to reduce
the batta. But as we have not been favoured with any reply to that
recommendation, I move we immediately address the Honble Board again upon the
subject.
From
the best intelligence I am able to obtain, the batta is now 12-8 & 13
rupees percent between the Arcot & sicca rupee and added to this is a
charge made by the shroffs under the name of kumkumma (or short weight) of 4 or
4-8 rupees percent. This raises the difference between the Arcot and sicca rupee
to near 17 percent, when formerly, so late as the beginning of 1774, it was
never higher than 7-12, and sometimes so low as 5, and no kumkumma demanded or
paid. The only cause I can discover for this extraordinary difference is the
abolition of the mint, and the only remedy its re-establishment, as already
recommended by the Board.
Arcot
rupees being chiefly used in the provision of cloths (the great staple
commodity of this district) hardly any other specie is used in payment of the
revenue to the farmers. Indeed it is a prevalent custom throughout the district
for them to receive no other, and engagement obliges him to pay the Government
wholly in sicca rupees. The shroff or banker, well knowing the times of payment
and that the farmer must at all events and at any price have sicca rupees,
fixes the exchange at his own arbitrary rate, and the farmer without resource
is obliged to purchase them on any terms. Formerly this was not the case. All
persons who had money sent it to the mint as bullion. It was reissued at little
expense and the sicca rupee being so plenty and so easily obtained, the batta
fluctuated in a very small degree, nay remained almost fixed. The mint might be
established without any expense to Government. Indeed a small revenue might accrue
from it, without loss to the farmer as it would arise from the customary and
allowed [russoom] upon the coinage, which would somewhat more than [base?] the
charges. We are too distant from Calcutta to allow of the money being sent
there for recoinage. The risque, the loss of time & interest would more
than over-balance the advantage. No siccas are imported. The few which are in
the district are constantly bought up and monoploized by the shroffs and
reissued at what exchange they please.The mint once opened, I am fully of
opinion the sicca rupee would instantly fall to its former value.
There
then follows the views of the people at Burdwan – very similar to above.
Next
is the consideration of the Board at Dingapore – again very similar arguments.
Bengal
Consultations. IOL P/2/10, 29 June 1775, p419
Letter
from the Mint Master to Calcutta, dated
Being
in want of three lacks and sixty thousand sicca rupees to standard the like
number of old Vizieries into Arcots, I request you will grant me an order on
the treasury to be supplied with that sum.
Bengal
Consultations. IOL P/2/10, 10 July 1775, p491
Letters
from the Mint Master (3rd July) and another from the Assay Master (8th
July) discussing the approach to be used for refining the Viziery or Fizabad
rupees to Arcot standard.
Ordered
that the Mint Master be directed to cause the bullion received from Fyzabad to
be refined to the Arcot standard and recoined into Arcot rupees, and that until
the arrival of Soudas (Sondas?) from Moorshedabad to employ the man now in his
office
Bengal
Consultations. IOL P/2/11, 10 August 1775. p7
Letter
from Murshidabad to Calcutta dated
In
obedience to your commands of the 10th instant we have procured and
transmitted to the Mint Master at the Presidency twenty refiners for the ease
of the mint. In order to enable them to make some provision for their families
at their departure and to pay the expenses of their journey we have advanced
each person ten rupees and we have also furnished them with boats to carry them
to Calcutta, the hire of which amounts to 34 rupees, and we have advised the
Mint Master of the advance that has been made to them
Bengal
Consultations. IOL P/2/11, 14 August 1775. p49
Assay
of Patna & Murshidabad siccas
Bengal
Consultations. IOL P/2/11, 14th August 1775 p42
Letter from H.
Cottrell (member of the Committee of Revenue) to Government dated
Queries stated by
the Honble the Governor General & Council
1.
Whether it is not expedient to re-establish the mints of
Patna and Dacca or to allow only one mint to be established in Calcutta for the
coinage of the two provinces.
2.
Whether supposing the Antient (sic) mints to be
re-established all the rupees shall be struck as has hitherto been the practice
with the name of Moorshedabad only or the rupees of each mint shall bear the
name of the place to which it belongs.
I should esteem
the re-establishment of the mint at Patna expedient for two reasons. As the
site of Muxadabad or Calcutta does not appear to be sufficiently centrical to
assist the merchants of that soobah in the coinage of bullion or the renewal of
monies depreciated by the hand of time or ordanances of Government; and as the
capital of the soobah Behar. But these arguments do not weigh for the re-establishment
of the mint at Dacca.
Should only one
mint be established in Calcutta might not the Company by thus rendering it the
mint of the Sircar find it difficult in case the Government should at any time
pass into other hands to maintain that right of coining their own money which
they have hitherto enjoyed. For these reasons I am induced to think the
maintainance of the mints of Muxadabad, Patna and Calcutta to be really
expedient, but not of Dacca.
This subject might
be considered in an other light. Whether these mints are established by royal
firmaunds or what authority. If the former, how far the Company as Dewan have
the power of suspending their force, and if they have not that power how far
they may by thus exercising the power of the sovereign afford arguments to the
prejudice of the dewanny right to such as wish to consider this as a conquered
country. But I will wave considering it in this point of view as I am not
master of the circumstances on which the argument is to be founded.
With respect to
the name to be struck on the coinage provided the rupees of the different mints
are received in all the treasuries at the same value, I can see no objection to
their bearing the true name where they are struck. The only reason to be given
against it is to prevent the fluctuation of batta upon them in the common
intercourse among merchants and the inconvenience attending that. But there can
never be so much similitude between the coinage of one mint and another but it
will be discoverable to the nice eye of a shroff from which adulteration can
scarce lie concealed. And the fluctuation of their value will be as effectively
prevented by receiving them all at the same rate into the public treasuries or
by any means whatsoever
Letter from J
Holmes (member of the Committee of Revenue) to Government, dated
The remote
distance of those settlements from the Presidency and each other added to the
extent of the country within the provinces would seem to plead for a
re-establishment of their mints.
It may also be
urged that if they are not re-established, the shroffs will have it in their
power to impose what batta they please upon old or debased money to the great
prejudice of commerce in general, and of the Company’s investment in
particular.
Upon these arguments
it may be observed in the one case that extent of territory will probably never
impede the free circulation of an uniform established currency into all parts
of the provinces, and in the other that the Company’s commercial interests and
those of the state being now united, all partial distinctions amongst the
shroffs are of course abolished since they are no longer practicable.
Consequently should a batta be found at any time necessary to bring the
depreciated coins upon a par with the new, it would be invariably as the demand
and the quantity of specie in circulation. Therefore could not be more a
grievance than new money under similar circumstances of an insufficiency for
the purposes of trade and ordinary occasions would in like manner be subject to
a rateable batta,
When the antient
mints of Dacca and Patna were instituted, the maritime and internal commerce of
this country flourished in an extraordinary degree and from its natural
fertility, possessing almost every necessity and luxury of life, the balance of
trade turned invariably in favour of Bengal with whatever nation it dealt.
The immense wealth
thus unavoidably entering in the provinces, it became requisite to devise a
means at once of facilitating its currency and of freeing the merchants from
the risk and expense of transporting it to Muxadabad.
To these reasons
may be added the custom which prevailed of a triennial recoinage of the sicca
which was the only legal current rupee throughout the provinces. The usage
being now abolished, this part of the necessity of those mints ceases, of
course, but more especially as the small quantities of bullion now imported are
confined chiefly to Calcutta and the foreign settlements.
For these reasons
I image a mint at the Presidency would alone answer the purpose of circulating
specie throughout the provinces unless it should be thought eligible to
continue one at Moorshedabad on account of the Dutch having the privilege of
coining in the Government’s mints.
Should more than
one mint be established, either the rupees of each ought to bear the name of
the place to which it belongs or some distinguishing characteristic in order
that impositions may be traced and if a distinction should be deemed necessary
it ought to be such a one as may be known by immediate inspection which even
the shroffs themselves have difficulty in doing at present
Bengal
Consultations. IOL P/2/11, 17 August 1775. Paying the troops
Letter
from Murshidabad to Calcutta dated
The
representation we had the honor to make you in our address of the 20th
instant in consequence of the complaints preffered to us by the paymaster of
the troops at Burrampore, the Resident
at the Durbar etc, of the difference in the value of the Moorshedabad &
Patna siccas hath we flatter ourselves in a great measure anticipated your
commands of the 17th instant and left us little to add to this
subject. There is no actual batta fixed in the bazar but the shroffs exact a
premium from one to one & a half per cent in the receipt in payment of Patna
siccas. The only reason they give for this imposition is that the impression is
not so fair as that of the other mints. But we apprehend gentlemen that there
will not be a reason wanting to them until the penalty of not accepting the
rupees of the established mints at an equal value shall be made so severe and
be so strickly enforced as to deter them from taking the advantage which monied
men of all countries are tempted to do.
Resolved
that the following orders be sent to the Council of Moorshedabad…
Having
considered your report of the 24th ult. Upon the batta exacted by
the shroffs on Patna sicca rupees, we direct that you issue to the paymaster at
Burrampore for the pay of the troops there, Moorshedabad sicca or sonaut rupees
only, and for this purpose you will reserve in your treasury as many of these
kinds of rupees as may be sufficient to answer the monthly demands upon it for
that amount. However, if it should not be in your power at any time to procure
Moorshedabad rupees & that the troops must therefore necessarily receive
Patna siccas, you will issue them at a discount of one per cent.
Home
& Miscellaneous. IOL H/357, No 10, p436
Account
of Money Coined from December 1774 to November 1775 from Charles Lloyd, Mint
Master,
|
|
Tulley Sonauts |
Short Arcots |
Rupees of Oude |
Sicca Rupees |
Dollars |
German Crowns |
Ingot Silver |
Plate Gold |
Deley Gold Mohurs |
Total Remitted |
Total Arcot Coinage |
Total Sicca Coinage |
Total Gold Mohurs Coinage |
|
Dec 1774 |
37032.9.9 |
2500 |
|
|
|
240 |
|
|
|
39772.9.9 |
42201.5 |
|
|
|
Jan |
44071.5.9 |
21867.8 |
|
|
|
|
|
|
|
65938.13.9 |
69089.11.6 |
|
|
|
Feb |
5753.5.6 |
|
|
|
|
|
|
|
|
5753.5.6 |
6131..6 |
|
|
|
Mar |
41552.1.6 |
20800 |
130970 |
|
108.2 |
|
|
|
1439.1.3 |
193430.3.6 |
197942.2.6 |
96.4.3 |
1306.7.6 |
|
Apr |
7371.13.9 |
23441.15 |
354795.2 |
121000 |
|
|
338.10 |
4.4.3 |
|
506947.8.9 |
511726.5.6 |
|
3.2.4½ |
|
May |
149.7 |
16123.9 |
500000 |
|
|
|
|
|
|
516273 |
525206.14.3 |
|
|
|
Jun |
|
|
480000 |
|
|
|
|
|
|
480000 |
488349.4 |
|
|
|
Jul |
|
|
980901 |
|
|
|
|
|
|
980901 |
1000236.6 |
|
|
|
Aug |
|
|
739869 |
|
|
|
|
|
|
739869 |
725778.4 |
|
|
|
Sep |
|
|
542130 |
|
|
|
|
|
|
542130 |
534937 |
|
|
|
Oct |
|
|
311727.8 |
|
|
|
|
|
|
311727.8 |
302154 |
|
|
|
Nov |
|
|
313123.10 |
|
|
|
34862.12 |
|
|
347986.6 |
324501.1.6 |
173.15.3 |
1309.9.10½ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,728,253.8.9 |
270.3.6 |
1309.9.10½ |
Bengal
Consultations. IOL P/2/12, 28 December 1775. p311
Ordered
that the Secretary do write to the Mint Master to make a report monthly of the
amount of specie coined in
Home
& Miscellaneous Consultations. IOL H/357,No 10, p438ff
Lots
of letters about the Mint Master taking half a per cent for himself for
re-coining reupees from Firuzabad. Eventually agreed that he shouldn’t but then
have to come to an arragement to pay it back.
Bengal
Consultations. IOL P/2/15, 12 August 1776. p874
The
Board having heard it reported that the Arcot rupees coined in the mint are
very various in their intrinsic value & many much debased, think it proper
to depute Messrs Hodgson and Baugh immediately to the mint with orders to bring
any small parcels from the Arcot rupees lately coined, and which they may find
in the mint, that the Board may be satisfied of the degree of truth which there
may be in this report and those gentlemen are ordered accordingly to proceed
immediately on this duty.
Ordered
that the Assay Master be sent for
Mr
Paxton, the Assay Master, attends the Board and is questioned whether silver
from which the Arcot rupees are struck in the mint is previously assayed and in
what manner
Answer:
In one of my letters I gave an account of the whole process of coinage which I
will now repeat. I shall suppose for instance, which happened lately, that a
lack of sicca weight of short Arcot rupees should come from the Kkalsa. On this
being received in the mint the bags are opened and two or three thousand taken
indiscriminately therefrom. These are mixed well after which two or three pots
each of 800 sicca weight are melted and an ingot of each separately assayed,
the mean assay of which, if the difference be not great, is taken for the assay
of the whole, and the whole lack of rupees is melted accordingly
Agree
that it do lie for consideration.
Bengal
Consultations. IOL P/2/15, 14 August 1776. p892
The
Board take into consideration the last Council on the subject of the Arcot
rupees lately coined in the mint of
Ordered
that the Mint Master be directed immediatley to suspend all coinage in the mint
whether gold or silver until further orders. That he do pay into the Treasury
all the money which is already coined belonging to the Company and report to
the Board the quantity of bullion or rupees which remain uncoined under his
charge. That he also report whether he has any and what private bullion in his
hands.
Ordered
that the sub- treasurer do set apart and reserve whatever sums have been paid
into the treasury from the mint and also whatever sums have been received
within this last month if they have not been mixed.
Resolved
that circular letters be written to the provincial councils directing them to
inform the Board generally of the state of the coinage in the districts under
their charge.
The
following letter is accordingly written
In
order to assist us in forming and establishing some general regulations for the
coinage of this country, we think it necessary to require your answers to the
following questions and to desire that you will at the same time inform us
generally of the state of the currency in the districts under your charge
Questions:
1. what
coins pass current in the different parts of your division and the
proportionate quantity of each as nearly as you may be able to estimate
2. The
batta paid on each specie of rupees in the Bazars to reduce them to siccas
distinguishing the Sudder from the Mofussil batta if there is any such distinction,
so that we may ascertain at what discount a farmer must purchase rupees from
the shroffs of the particular specie in which he is obliged to pay his rents to
Government.
3. What
species are taken in payment of the publick revenue whether from the ryots by
the farmers or from the farmers by Government and at what rates of batta
4. Whether
in your opinion it would be more for the advantage of Government and the ease
of the people, if sicca rupees [were] universally established as the current
coin of the country without any distinction of batta or any discount but for
the real loss which they might sustain from wear, clipping or other contingent
causes.
Bengal
Consultations. IOL P/2/15, 19 August 1776. Many things
Letter
from the Mint Master (Charles Lloyd) dated 14th August 1776 p910
In
consequence of your orders I have suspended all coinage in the mint ‘till your
further pleasure is known, and transmit you enclosed a report of the bullion or
uncoined rupees now lying in the mint.
There
then follows a list of the uncoined material.
Letter
from the Superintendent of the mint at Murshidabad (C. Keating) dated 4th
January 1776 p913
In
consequence of your letter of the 28th December, I herewith transmit
a copy of the established customs and duties as also a copy of the monthly
expenses of the mint at Moorshedabad under my charge. I have likewise to inform
you that since the abolition of the Dacca and Patna mints, the coinage here of
rupees and gold mohurs have been 12 and 15 sun
p918
Ordered
that the mint be again opened for the coinage of sicca rupees, and sicca rupees
only
p936
Charges
General of the Mint at Moorshedabad
|
|
Rupees per
month |
|
Superintendants
pay and allowance |
350 |
|
Ditto for
Mohrers |
100 |
|
Derogah
Golab Sing |
100 |
|
[Moorness] |
26 |
|
[Jaffer
Harcanah] |
15 |
|
[Mohoround] |
79.4 |
|
[Shaikche
Gunwah] |
21.6 |
|
4
Blacksmiths |
14.1 |
|
[Ferorh] |
3 |
|
[Dusterbund] |
4 |
|
[Lackarah] |
1.8 |
|
Peran
Paswan |
4.13 |
|
Jaggunaut
Parwan |
9 |
|
[Sheachee] |
3 |
|
[Ruvannat]
Peons 8 |
13 |
|
Bohor Peon
4 |
12 |
|
Jamaul |
2 |
|
[Hanyman] |
1 |
|
[Repnanund
Bullercharge] |
11.4 |
|
[Sohanund
Mirne] |
7.8 |
|
[Moharam
Munlore] |
1 |
|
[Burklen
Sing] |
10 |
|
|
|
|
Total |
788.12 |
Bengal
Consultations. IOL P/2/18, 7 April 1777. Many things including abolition of
Mursh Mint
Many
pages of answers to the questions about the coinage (batta, types of rupee in
circulation, types accepted for revenue payment etc) sent out the previous August.
Following this the Calcutta Council comes to the following conclusions
P729
Ordered
that the Mint Master and Assay Master at Moorshedabad be directed to prepare
for the information of the Board a table of the expense incurred upon the
coinage of each different species of rupees or of bullion, into the sicca
standard, specifying the proportion or amount of each article of expense in
separate columns
Read
the following letter from the Mint Master, dated
Having
received from the Treasury rupees 1,025,999 of different sorts in order to be
recoined into sicca rupees, I must beg leave to acquaint you that for the
speedy effecting such coinage it will be necessary for me to be furnished with
twenty additional refiners, there being at this time only four refiners
employed at the mint, which number can refine no more than 2,000 rupees per
diem and as so many refiners cannot possibly be procured at this place, I must
request you will transmit orders to the provisional councilof Muxadavad to send
them down from thence as soon as possible.
As
the refining these rupees will require a supply of 400 mands of lead, I must
request you will obtain an order from the Board of Trade for the delivery
thereof.
I
must likewise request you will acquaint me with what sun of the King’s reign it
is your pleasure that these rupees should be stamped.
Agreed
that he be allowed twenty refiners from Moorshedabad, that he be directed to
inform the Board by what rule the lead is proportioned to the quantity of
silver to be refined, as 400 maunds, which he has demanded, appears to be
extraordinary, and that he be ordered to stamp such rupees as are to be coined
with the present reign of Shah Alam.
There
then follows a discussion, during which Mr Francis states that he thinks that
the mint at Moorshedabad should be shut up entirely. Hastings goes on:
p733
The
Dutch Company has an ancient priveledge of coining a specific annual sum at the
mint of Moorshedabad. It is probable they would willingly transfer the exercise
of that right from the mint of Moorshedabad to Calcutta. I do not know whether
the Nabob has any claim of the like nature. Whatever it be there can be no
difficulty in accomodating it with him should it be found necessary to withdraw
the mint at Moorshedabad. As to any other inconveniences which may attend the
removal, I know of none, and as it seems to be the sense of the Board that the
mint of Moorshedabd should be discontinued, I move that it be discontinued.
After
some discussion the minutes go on:
p 735
Agreed
that the mint at Moorshedabad be abolished; that the Mint Master be not allowed
to coin any more money in it after the end of this month, but that he be
directed to bring down the balance uncoined, if any, to Calcutta.
There
then follows a letter to the Dutch explaining their proposals, and a further
discussion about encouraging individuals to bring bullion to the mint for
coining.
Bengal
Consultations. IOL P/2/19, 5 May 1777
Letter
from the Mint Master (Charles Lloyd) dated 12th April 1777.
p273
Agreeably
to your orders, I herewith transmit to you a table of the charges incurred upon
the coinage of each different species of rupees into the sicca standard.
I
likewise transmit you an account of the quantity of silver belonging to private
persons coined in the mint within the last six months, with the amount of the
duty collected thereon.
The
abolition or even diminution of the present duty of 4½ per cent on the coinage,
would in my opinion greatly contribute to an increase of private bullion being
brought to the mint. As my sentiments, gentlemen, on this head are not grounded
on conjecture, but the result of observation, I hope I may be allowed to say
that I have not a doubt but that a regulation of this nature cannot fail of
being attended with such effects. During the long course of my being in this
office, samples of different kinds of foreign coins have at numberless times
come to the mint to be assayed, which when done and the report of the produce
they would fetch in the mint has been given, nothing more has been heard of
them. From whence it is natural to conclude that the proprietors thereof must
have found out a more profitable mode of disposing of them, which I believe is
generally by selling them to persons who have remittances to make to Europe,
who give a greater price for them than they would produce in the mint, [clog’d]
with the heavy duty of 4½ percent, but was this duty lowered to 1½ per cent, I
doubt not but in such case the scale would preponderate the other side, &
sending bullion to the mint would turn out to the proprietors the most
advantageous manner of employing it.
With
respect to the indent for lead, I beg leave to observe that I could not at the
time I had the honor of addressing you last on the subject fix the exact
quantity which would be necessary for refining the ten lacks, not can I yet
ascertain it, as a very inconsiderable part of these rupees has been arranged
in classes according to their respective finenesses. Luchnow siccas of the 18
sun require 70 percent; old vizierys an equal quantity & nine sun vizierys
double the quantity of lead. Estimating the whole to take on an average an
equal quantity of lead it would require 347 maunds & as there was then in
the mint some private bulion and some short Arcots from the Khalsa, both of
which required refining, I judged it proper to apply for such a quantity as might probably serve
the whole. But the expense of this article in refining silver is much less than
it appears to be, for a great part of what is used in the operation is
collected in dross & sold to people whose business it is to reduce it to
its metallic state, and the amount of such sales are carried to the Company’s
credit under the head of Nearah.
Letter
from the Assay Master (Wm Paxton) dated 17th April 1777. p279
In
obedience to your orders of the 7th instant, I have the honor to
transmit to you a table of the expense attending the coinage of sundry species
of rupee, which have come to the mint in the ten laack belonging to the Honble
Company, together with such other species as I could procure out of the bazar,
when I found the sub-treasurer could furnish me with samples of siccas only.
I
have included in the table an expense for assaying, this arises from the
necessity of ascertaining the silver to be of standard fineness before it is
given to the moneyers to coin, and more especially as it is to be refined from
bullion of varying degrees of fineness.This done, should a laminating engine, a
coining mill and other mint utensils, be sent out from Europe, the new coin
would be beautified, but this is the only advantage it could have over that
which may now be struck.
Conceiving
it to be my duty, I hope I shall be pardoned if on this subject I take the
liberty to observe that the coining the whole of the Company’s ten laacks
without any intermission, will probably occasion the exportation of great
quantities of private bullion, and at the same time to suggest that it might be
prevented by ordering such bullion as should be tendered to the mint to be
assayed, and the amount of its produce paid out of the treasury, which would
not only prove a great encouragement to individuals, but also secure to the
Company the duties which must otherwise be lost.
The
Governor General proposes the following regulations
1. That
it be resolved and declared that only one mint shall be allowed for the coinage
of money for the use of the three provinces which shall be that of Calcutta.
2. That
only sicca rupees of the present standard be struck in the mint.
3. That
no gold coin shall be coined after the 31st of this month
4. That
all sicca rupees of the future coinage shall pass forever, without any
deduction of batta by weight, and not by tale, in all receipts of the revenue,
and in all receipts and issues of the Company’s treasury
5. That
orders be sent to the provincial councils and collectors, to transmit to the
Presidency all rupees of whatever denomination, which may be now in their
treasuries, and from time to time such others as they shall receive, excepting
sicca rupees of the 11th sun, and of later dates, and that all such
rupees as they arrive at the Presidency be sent to the mint to be recoined.
6. That
for the encouragement of individuals to bring bullion to the mint, the present
duty of 4½ percent on coinage be abolished, and in lieu thereof that a duty of
[…] percent in addition to the real charges be established, and that the Assay
Master be directed to form tables of rates specifying the amount of those
charges on bullion, or specie of the different degrees of fineness, and of the
produce in sicca rupees.
7. That
for the further encouragement of the proprietors of bullion and specie
requiring to be recoined, the expedient proposed by the Assay Master in his
letter above recorded, be adopted as a fixed and perpetual regulation, that is
to say, that all such bullion or specie as shall be tendered to the mint shall
after being assayed be received into the mint on the Company’s acocunt, and
that produce estimated by the preceeding regulation be immediatley paid to the
proprietor from the public treasury on producing the receipt of the Mint Master
for the weight of bullion received, and the certificate of the Assay Master of
its value in sicca rupees.
Mr
Francis
I
assent to the foregoing propositions except the second. I think the standard of
the sicca rupee, from its extreme fineness, viz 98/100 fine, is liable to many
objections. Having stated my opinion at large on this subject on a former
occasion, I do not think it necessary to enter further into it at present.
Mr
Barwell
Agrees
to the regulations proposed
General
Clavering
I
think the subject of these propositions too important to give a hasty opinion
upon them. I desire a copy of them that I may consider them at my leisure.
Agreed
that the above propositions do lie for consideration.
Table
of Number of Coins Minted from Bullion from Private Persons
|
Month |
Number |
|
October 76 |
45266-12-6 |
|
November |
2725-9 |
|
December |
15874-14-6 |
|
January 77 |
21544-1-6 |
|
February |
11460-15-9 |
|
March |
22437-12-6 |
Bengal
Consultations. IOL P/2/19, 12 May 1777.
Letter
from Murshidabad p298
Your
commands of the 7th of April for abolishing the mint at Moorshedabad
have been communicated to Mr C Keating and put into execution, and in
conformity thereto, he has drawn out the accounts required, which we have the
honor to enclose together with a copy of his letter to us, which accompanied
them. At the close of each year we have received from Mr C Keating the accounts
of his office, and he hath now completed them to the time of its being
abolished, from which it appears that there is a balance of cash amounting to
Sicca Rs 9,531-..-10, which he hath paid into our treasury. As we are in want
of money, we shall take the liberty of detaining this sum, and bringing it to
the credit of the Moorshedabad mint.
We
beg to be favoured with your orders relative to the disposal of the records of
his office, whether they are to remain with us or to be sent to you, gentlemen.
Ordered
that the records of the mint be sent to the Presidency & that the refiners
and engravers lately employed in that office be continued in the Company’s
service & removed to the Calcutta mint
Letters
to Dacca and Patna p307
Having
occasion for an additional number of refiners in the mint of Calcutta, we
desire that you will engage any persons of this occupation, who may be willing
to enter the Company’s service, & send them down to the Presidency to
attend the Mint Master on their arrival.
Bengal
Consultations. IOL P/2/19, 29 May 1777. p366
General
Clavering replies to Hasting’s proposal about the coinage at great length and
in much detail. He disagrees with most of it and suggests that it would be
better that the coinage should continue in the way it has up until then, than
the propositions be implemented. He then goes on to put forwards his own
proposal:
1. That
only one of the precious metals shall form a coin and that it be silver
2. That
only one standard of weight and fineness exist & one denomination
3. That
this standard be the standard of England, that the rupee be of the exact value
of the present sicca, and that it pass as such
4. That
proportional parts of this one coin & one standard be minted
5. That
the coinage go by tale and not by weight
6. That
it be milled (ie milled edge)
7. That
false coining and mutilation be made capital
8. That
no duty upon coinage be established
9. That
new money be immediately returned for bullion presented
10. That
an edict be published fixing the price and time of recall of the whole of the
present current bullion, after which it should no longer be a legal tender
11. That
the new coin be struck at the four old mints of the country, Patna, Dacca,
Moorshedbad and
12. That
one superintendant be appointed to be responsible for the whole
13. That
previous to entering upon the plan, the charges of the proposed coinage be
thoroughly scrutin ized
14. That
a publick register of the receipts & issues be kept to ascertain as near as
possiblethe currency of these kingdoms at any one period – to be attested by
the Mint Master, Assay Master and sub-treasurer
Hastings
then explained that he hoped to get his proposal put in place without unduly alarming
the public and he had to take the Board through it article by article.
Meanwhile it became apparent that Francis had also created an alternative
proposal that he had sent directly to London in 1775.
However,
Hastings finally got them to agree to articles 2, 3, 6 & 7. Others to be
discussed later.
Bengal
Consultations. IOL P/2/19, 16 June 1777.
Letter
from Patna dated 26th May 1777. p523
We
have been honored with your letter dated the 12th instant directing
us to engage any refiners who may be willing to enter into the Company’s
service & send them down to the Presidency.
Having
agreeably to your directions made an enquiry, we find there are two kinds of
refiners, one who work gold, and the other silver. Of the first there are one
Chokesey or assayer & ten Gudazgeers or melters, & of the second there
are one Sakub Eyar or assayer, three Chasneegurs or refiners and five
Gudazgeers or melters who are willing to be entertained on the following terms
viz:
Gold Assayers 100
Rs per month
Melters each 25 ditto
Silver Assayer 100
rupees per month or 3 pice per 100 rupees [russoom]
Refiner 100
ditto or ½ anna ditto
Melters 125
ditto or 3 pie ditto exclusive of of an abwaul of ½ anna upon every 1800 rupees
The
melters object to going unless the assayer accompanies them & all of them
expect that if they are entertained upon the russoom they shall have an
additional allowance by way of batta for the maintenance of their families whom
they leave behind.
We
request to know whether you would have the whole of these persons sent down or
what numbers and of what denomination, particularizing them by the country
names to avoid mistakes.
The
Mint and Assay Masters are directed to inform the Board about this matter
Letter
from Murshidabad dated 22nd May 1777. p525
We
do ourselves the honor to transmit to you agreeably to your commands of the 12th
instant the records of the Moorshedabad mint both in Persian and English, as
delivered to us by Mr Keating, the late superintendant.
We
have now the pleasure to acquaint you gentlemen that ten refiners out of the
twelve which is the whole number that was employed in the mint at this place
with eighteen assistants have agreed to proceed to Calcutta upon being paid at
the rate of thirty rupees per month each for himself and assistants. We have
accordingly engaged them and advanced them one months wages amounting to three
hundred rupees & thirty four besides for boat hire, and have sent them
doown to the Mint Master at the Presidency agreeably to your orders of the 7th
April.
The
Mint Master is asked to report how these pay rates compare to the present rates
at Calcutta.
Bengal
Consultations. IOL P/2/19,
Letter
signed by both the Mint and assay Masters dated 17th June 1777. p564
None
of the artists specified in the extract of a letter from Patna which you have
enclosed us are at present wanted for the service of the mint except the
refiners, and as the terms they require are so much superior to the mint
establishment, we apprehend if they should be entertained thereupon that it
would create discontent & murmuring amongst the present refiners & be
rahter detrimental to the interests of the Company.
The
ten refiners and their assistants are arrived from Muxadavad & are now
employed in the mint. The wage of thirty rupees per month for each refiner and
his assistant is conformable to the established rate of this mint.
Letter
to
We
have received your letter of the 24th May acquainting us with the
terms demanded of you by the refiners and other mint officers at Patna for engaging
to serve in the mint of Calcutta. We have only occasion for the silver refiners
but we cannot agree to allow them more than the established rate of wages which
is thirty rupees per month for each refiner and his assistant. If any shall be
willing to engage on these terms, exclusive of their way charges, you will
agree with them accordingly and send them down to us.
Letter
to the Board of Trade
The
Mint Master having applied to us for four hundred maunds of lead for the use of
his office we request that you will give orders to the proper officer for the
delivery of that quantity to him…
Bengal
Consultations. IOL P/2/19, 28 July 1777.
Letter
from Patna dated 3rd July 1777. p828
We
have been honored with your letter of the 19th June desiring us to
send down such silver refiners as may be willing to go upon thirty rupees per
month wages and enclosing us regulations lately made in the mint of Calcutta to
be published here.
We
have in consequence called upon the silver refiners & proposed the above
allowance to them, but they do not chuse to go upon any other terms than those
mentioned in our former address of 26th May.
Bengal
Consultations. IOL P/2/20, 25 August 1777. (about page 10)
Translation
of a Letter from the Dutch at Hooghly dated 1st August 1777
We
have with mature deliberation considered the contents of the letter which you
did us the honor to write us under date the 25th ultimo
However
simple your Honor etc have been pleased to make appear your regulations with
respect to the mint, we find them in themselves of weight and speculation for
us. We do not deem ourselves competent to determine to the matter with you as
principals. We only think that we may go so far as namely, first, to make use
of the advantage generally permitted to exchange silver for sicca rupees. We
shall therefore take the liberty to avail ourselves thereof, and successively
offer to your Honor etc the silver which we daily expect in payment of the
settled value thereof in currency siccas, and continue the same till we shall
be informed from Batavia by the Honble Superior Government in India whether
their Honors consent to the proffered transfer of our priveledges of coinage to
the mint of Calcutta , in the manner as proposed to us by you, or whether they
choose to continue the delivery of silver to you for the value thereof in sicca
rupees…
Bengal
Consultations. IOL P/2/22, 8 January 1778. p68
Letter
from the Mint Master (Charles Lloyd) dated
In
obedience to your commands under the date the 3rd instant, I beg leave
to inform you that on receiving the Oude treasure into the mint in May last it
was immediately begun to be recoined, but on the establishment of the late
regulations, which took place soon afterwards, considerable quantities of
bullion coming into the mint I judged it proper to discontinue in part the
coinage of the Oude treasure until such time as the receipts of private bullion
should in some measure decrease, and this being now the case I have again begun
with the Oude rupees, and which shall be finished as expeditously as possible.
Bengal
Consultations. IOL P/2/24, 30 July 1778. p165
Letter
from the Mint Master (W Paxton) dated
Having
occasion for a fresh supply of lead for the use of the mint I request you will
be pleased to issue the necessary orders for the delivery of four hundred
maunds from the import warehouse.
A
letter was sent to the Board of trade instructing them to delivery the required
lead from the Import Warehousekeeper.
Bengal
Consultations. IOL P/2/24, 30 July 1778. p166
Minute
of the Governor General (Hastings)
The payment of
coolies and the other people employed on the publick works in Cowries
subjecting them to imposition and loss they are therefore discouraged from serving,
to the great obstruction of the publick works, and as the chief engineer will
have immediate occasion to employ upwards of 3000 labourers who will require a
fixed medium of payment, I think this is the proper time for making an
experiment to obviate these inconveniences.
Cowries being
perishable and the importation of them attended with an annual loss, this
reason as well as those above mentioned has frequently suggested the necessity
of a copper coinage, and the utility of it has been proved to a demonstration
by a former expedient of issuing copper tickets which were readily accepted by
the coolies and even passed currently in the bazar and as I am informed were
seldom returned.
I therefore desire
to recommend to the Board that the amount of ten thousand rupees be immediately
struck in copper coin, 1000 rupees of which to be sent on trial to each
provincial council and the remainder issued for the currency of the Presidency
particularly in payment of to the publick coolies.
Should this scheme
be found to answer the purposes intended a larger sum may be coined. It cannot
occasion a loss.
I beg leave to
produce to the Board, a blank copper coin equal in weight to one anna which,
valued at the rate of 50 rupees per maund, the present price of copper being
36, will be equal to the sixty fourth part of a rupee or quarter part of an
anna, & this may be subdivided if it should be found convenient to issue
smaller coin.
This is not an
idea of sudden suggestion. I have long considered and weighed all the consequences
of a general currency of copper & the samples which I now offer to the
Board have been many months in my possession. The sum required for the proposed
experiment is trifling. The amount of ten lacks at least will be required for
universal circulation, if it takes effect. This will prove a double gain to the
Companyin its commercial and political characters.
Ordered that the
minute be refered to the Mint Master for his opinion on the best manner of
carrying it into execution.
Ordered that the
Mint Master be called upon to report to the Board how soon he shall have coined
up all the bullion in the mint & treasury.
Bengal
Consultations. IOL P/2/24, 17th August 1778. p476
Letter
from the Mint Master (W Paxton) dated
I humbly request you
will be pleased to order the delivery of one lack forty thousand (140,000)
sicca weight of silver bullion from the treasury, being the balance now
remaining of the 640,000 sicca weight deposited there by order of the Honble
Board of the 8th June last.
This was agreed.
Bengal
Consultations. IOL P/2/31, 26th April 1779. p36
Letter
from the Assay Master ( A L Gilbert) dated
Having
of late observed many gold mohurs in circulation which appeared very deficient
in value, I selected promiscuously from a parcel of them which has the same
fresh appearance, the seven pieces bearing the stamp of the Moorshedabad mint,
which I have the nonor to send herewith in a sealed paper to your Honble Board
and I made two assays of the one which is cut, and both these assays turned out
only Carats 19..3 grains of pure gold, which is 4 carats and half a grain
deficient of the standard they should be, being more than rupees 3 deficient.In
consequence of which I think it mt duty to mention the circumstance that your
Honble Board being apprized thereof may fall upon means to put a stop to a
practice so highly prejucicial to the public.
The
low price at which gold has been for some time for want of a public coinage may
probably have been a temptation to an illicit one, in some quarter or another.
To discover the persons will be difficult, but by permitting the coinage of
gold in the mint of Calcutta, a channel will be opened to the shroffs etc of
bringing their gold into circulation without having recourse to an illicit
coinage, and thus thereby probably prevented.
It
is with the utmost deference that I have presumed to offer an opinion which I
should not have done if I had not thought it my duty and what I owe to the
public from the office which you have been pleased to put under my direction.
Ordered
that public notice be given by advertisement to be circulated by the secretary
to all provincial councils and collectors, that it having come to the knowledge
of the Governor General and Council that many gold coins have been circulated
which are inferior both in weight and fineness to the standard of those coined
in the established mint of the country, and bearing their inscription, they do
therefore think it proper to give information thereof as a warning to all those
to whom such base coins may be tendered in payment, and resolved that a reward
of 1000 sicca rupees be offered for the detection of any person who shall be
guilty of private coinage, either silver or gold, bearing the current stamp of
the provinces, which sum shall be paid to the informer by the Chief and Council
of the district in which the fact was committed after conviction of the
offender.
Secret
Consultations. IOL P/
Lett
In
Bengal
Revenue Consultations. IOL P/2/37, 20
July 1780, p565
Minute
of the GG
The
Governor General requests that the Board will permit the sum lately depositied
by him in the treasury (vide secret department consultation 26 June) which is
in gold to be recoined. This may be done in a very short time as he understands
from the Mint Master that the people of the mint are unemployed.
Agreed
to and ordered accordingly
Bengal
Secret Consultations. IOL P/A/56 , 18th September 1780, p213
Letter
from Prinsep to Calcutta Council, dated
In
virtue of your grant of the mines in Monghyer and Rotas for the purpose of
supplying these provinces with a copper coinage under the [control] of
Government, I have opened three very promising veins of ore under and near the
hills of Rotas Gurr, from whence in time I have a fair prospect of supplying a
considerable quantity of that metal. But as the process of working it is
extremely tedious and the many difficulties I lay under in collecting proper
people and materials, will render it impossible to furnish more than two
thousand maunds per annum for the four years next to come, a quantity very
insufficient even for replacing the currency now circulating in Behar alone,
much less for establishing a sufficient and fixed copper coin so greatly wanted
throughout your dominions, and as many inconveniences must arise from a scanty
or partial circulation without calling in the old pice.
For
these reasons I must humbly beg leave to suggest a mode whereby the public
convenience seems happily to coincide with the advantage to the Honble Company
both in its revenue and commercail departments.
From
the best information I have been able to obtain, there cannot be less than from
twenty five thousand to thirty five thousand maunds of copper pice now current
and which must be replaced, and these whole pice or taccas, double pice.
These
therefore when called in demand the same weight of the same sized coin but as
it is intended to accommodate the public with half and quarter pices, the
amount of the latter which you shall judge necessary must be added. As must
also, I imagine, a quantity at least equal to both, which will be most readily
accepted by those districts where pice have not been lately used, and by the
Metrolis itself.
This
view of the object opens so sure and important a source of revenue of
Government, and beneficial an increase of the imports from Great Britain, that
the interest of any individual, if it did clash can never be suffered to
interfere. I hope in the present case, and by the following expedient to avoid
any circumstance.
The
Company’s imports to Bengal of sheet and Jappan copper which are nearly of
equal fineness have been upon an average of four years: 11,106.20 maunds. The
estimated produce of the mines in Rotas is 2000 maunds per annum; making together
13,106.20 maunds.
There
cannot be a doubt of circulating this quantity in pice for many years to come.
I
have made an estimate of the expense and wastage in striking coin of the
following sizes and proportions of each agreeable to the instructions given me
Viz
Madso
Sie of 20 anas sicca weight 1/16th to the maund
Faloos
of 10 ditto 12/16th ditto
Neem
faloos of 5 ditto 2/16th ditto
Paw
Faloos of 2½ ditto 1/16th
If
I receive an equal quantity of the Company’s copper in the four ensuing years,
to that of the four last past, at the medium price of the latter deducting the
discount, and by melting it down with my own bring the whole to your prescribed
standard, I shall be able to furnish it coined within a reasonable time
afterwards, at the rate of sixty sicca rupees the maund of 80 sicca weigh to
the seer, which if issued to the public at the intended rate brings in a net
revenue to Government of sicca rupees ten lack forty eight thousand five
hundred and twenty.
If
my deductions are drawn from just premises, the Board may safely apply for
double this annual quantity of copper, which I shall be able to coin at the
same rates, without attanding to the indents of the Commercail Department or
lessening their demand. On the contrary the visible call for this metal in coin
will naturally raise the price of what can be spared annually for sale, and
that delivered me before it is coined as much as for the four years past.
The
rising price of the other kinds of copper likewise, which I take to be a
natural consequence of this measure, offers an expedient for calling in the old
pice at an easy rate to Government, and without any hardship upon the subject,
by receiving it in payment of revenues and at such price as shall only subject
the Company to the charge of melting it again into its pristine form of battery
copper and reselling it upon the spot where delivered in. It seems not at all
improbable, that this metal may rise again above the price at which it now
passes as money, and then an order prohibiting its continuing lawful tender,
except to Government, and that at a few rupees less that the busar rates, would
throw it into the tradesmen’s use without any charge at all.
I
shall be most happy if these [rights] prove in any respect of use to the
publick and am ready with the greatest submission and respect to obey any
orders you shall be pleased to give for contributing to that salutary purpose
Bengal
Secret Consultations. IOL P/A/56 , 26th October 1780, p624
Letter
from Calcutta Council to Prinsep, dated
The
Honble the Governor General and Council having received a letter in which you
have addressed under date the 1st ultimo have directed me to inform
you in reply to it that agreeing generally to the proposals submitted to them
therein, they have desired the Board of Trade to comply with all indents that
you may make until the 9th April 1784 for sheet and Japan copper
imported here on account of the Company from Europe at the medium price at
which the same has been sold at for these four last years deducting the
discount.
The
quantity of sheet and Japan copper which you so receive is to be mixed and
melted down with the quantity procured from the mines granted you in Monghyr
and Rotas and the whole brought to the standard prescribed in the Boards orders
and resolutions of the 4th of April last. They agree to pay you for
the coin so composed at the rate of sixty sicca rupees to the maund of 80 sicca
weight to the seer, but in all other instances and respects you are subject to
the same conditions as those stipulated in the resolution above quoted.
Bengal
Public Consultations. IOL P/2/39 , 30th October 1780, p544
Letter
from the Mint Master (William Paxton) to Calcutta dated 30th October
(corrected to 13th?) 1780
Although
the coinage is considerably increased within these two last months, yet as the
charges collected thereon are still insufficient to defray the expense of the
mint establishment, I humbly beg leave to suggest by way of remedy the
extending to the public the order of the Honble Board of the 20th
July last repecting the coinage of the Governor General’s gold bullion, and
which would also have the good effect of throwing into immediate circulation a
vast quantity of that metal which now lies useless, and of reatoring the due proportion
of the metals in payments which the late exportation of gold hath in a great
measure destryed.
Agreed
that the order passed on the 20th July last for the coinage of gold
bullion to the amount of two lacks of rupees ne extended for the reasons urged
by the Mint Master and that the coinage of gold bullion be henceforth
authorised.
Letter
from the Mint Master to Calcutta dated
I
request you will be pleased to issue the necessary orders for the delivery of
seventy maunds of lead for the use of the mint.
Ordered
that the request made by the Mint Master be complied with and the Board of
Trade be desired to give orders for the delivery of 70 maunds of lead for the
use of the mint, and that a paragraph be added to this effect to the letter
agreed to be written to them and before recoded on this day’s proceedings.
Home
& Miscellaneous Consultations. IOL H/62, p293
From
Prinsep & Cunningham to Court, after
In
tracing some Bengal made copperas, met with in the common Bazar at Calcutta, to
the place where it was made, Mt John Prinsep discovered some viens of copper
ore, both at Rotas Gur, not far from Patna, and at Monghyr. Finding that it
would not without separation of its parts answer the purpose of Europe
copperas, the analysis produced such a proportion of pure copper as induced
further trials, & encouraged an application to Government for leave to work
these mines, & to manufacture this metal on an extensive scale, but it
appearing that in time the copper produced in Bengal might prejudice the
exportation of it from Great Britain, and shut out all imports of that metal,
the plan of working the mines to their full extent was changed, and knowing it
had long been in consideration with the Government of that country to establish
a copper coin for a medium between silver rupees & the cumbrous substitute
of cowries, Mr Prinsep made proposals to the Governor General & Supreme
Council for the coinage of the country copper, mixed with that of Europe, by
which means the indents for the latter are doubled and the working of the mines
restricted to the quantity of 2000 maunds per annum.
The
well judged conditions upon which the mines are now permitted to be worked, as
they obviously conduce both to the publick good, to the great convenience of
individuals, & to the benefit of the Honble Company, increasing (from the
rate at which it is issued) their revenue, ten lacks forty eight thousand five
hundred and twenty sicca rupees.It is hoped the Honble Court of Directors will
signify their approbation (if it ahll appear to merrit it) of the plan adopted
by the Governor General & Supreme Council & by the first conveyance
confirm the arrangements already entered into with Mr Prinsep, the nature of
which, Mr Cunningham, his partner in business is furnished with, as well as
specimens of the coin which had been approved of by the Supreme Council before
he came away from Calcutta on the 13th December 1780.
The
Publick Proceedings relative to the above are in the ships which left Bengal in
December 1780.
Bengal
Consultations. IOL P/2/42, 8th February 1781. p590
The
following letter from Mr John Prinsep to the secretary having been circulated
yesterday and the request therein made agreed to by the members of the Board,
the necessary directions were sent to the Custom Master and to the Collector of
Government Customs
Letter
from J Prinsep dated
Having
received a quantity of copper from the Honble Company’s Import Warehouse Keeper
for the Pultah coinage, I find it necessary that publick notice should be given
to the Government and Calcutta Custom Master of the nature of my engagement
before the metal can be permitted to pass or the money returned hither without
being chargeable with duty.
I
am therefore to request either one general notice of those officers, or your
instructions upon the subject as the boats are now waiting for passport.
The
secretary having in obedience to the Board’s order applied to the secretary of
the revenue department for attested copies of the several resolutions which
have passed in that department relative to the grant of the mines of Rotas to
Mr Prinsep for the purposes of a copper coinage as well as for the deeds
prepared in consequence, he lays the resolutions before the Board that they may
have a place on this days proceedings.
Extract
of the Proceedings of the Honble the Governor General and Council of
Read
the following letter and enclosure from Mr Prinsep
I
think it my duty to inform the Honble Board that I have discovered some veins
of copper ore the quality of which appears particularly calculated by its
fineness and malleability for the purpose of coinage.
I
therefore most humbly hope you will be pleased to grant me the exclusive right
of working mines in the districts where this ore has been met with on paying
the zamindar, or other, a sum equivalent to the rents which the lands now yield
to their possessor, and engaging with Government to deliver the whole produce
of pure copper in coin at the rate of fifty two siccas rupees the maund of
eighty sicca weight, of such dimensions and impression as the Honble Board
shall be pleased to direct.
And
in case the future produces shall exceed the sum of copper coin judged
expedient to be thrown into circulation, the remainder to be subject to a duty
of fourteen rupees and an half per maund in piece of quit rent to the Honble
Company.
In
order to demonstrate the public advantages of this proposal, I beg leave to
accompany this letter with the market price of Japan copper at Calcutta for
seven years past, and to present samples of the purer metal which I am ready to
furnish under this engagement.
There
then follows the list of prices for Japanese copper
Extract
of the Proceedings of the Honble the Governor General and Council
…The
Board having fully and maturely considered Mr Prinsep’s proposals are of
opinion that, as it opens the prospect of a new and valuable article of
commerce and revenue to the Company and further tends greatly to facilitate the
introduction and use of a copper coin, which has long been an object of this
Board, it merits their encouragement and acceptance. But as it may possibly
affect the imports of copper from England, the Board are of opinion that the
grant ought to be made with such a reservation of the pleasure of the Court of
Directors as may enable them to prevent its becoming hurtful to the Company
On
these grounds it is resolved that Mr Prinsep’s offer be accepted, with the
following conditions and limitations of it:
1. That
Mr Prinsep shall engage and be bound to satisfy the Zamindar, Talookdar or
other proprietor of the districts in which the mines mentioned in his proposal
are situated, for his interest or property in the collections upon such lands
as shall be necessary for working the mines by annual payments of a full
ascertained equivalent for the same, to be adjusted upon the present bundabast
by the Collector of the districts and that the Board shall not undertake either
for themselves or the East India Company to answer or make good any claim
whatever, which the Zamindar, Talookdar or other proprietor of the ground in
question may make on Mr Prinsep for the value or property of the same.
2. That
Mr Prinsep shall engage to deliver to the Provincial Chief and Council of Patna
for the use of the Honble Company, all the copper worked and produced from the
mines, or so much of it as shall be required, refined to the purity of the best
Japan copper, and coined into pice or coins of ten annas sicca weight, and in
such form and with such impression as the Governor General and Council shall
direct, for which he shall be paid in ready money from the treasury there for
each delivery at the rate of 52 sicca rupees for each pucca maund or for each
maund of eighty sicca weightto the seer in weight or for five thousand one
hundred twenty pice in tale.
3. That
Mr Prinsep shall further engage to transport to Patna all the copper
manufactured by him exceeding the demand for coinage, and produce the same to
the Collector of the Government customs there who shall levy a duty upon it of
fourteen sicca rupees for every pucca maund, after which the contractor shall
be permitted and be allowed Dustucks or necessary passports for the same.
4. That
Mr Prinsep shall engage on pain of forfeiting the grants, that he will not pass
in coinage, nor sell or dispose of in any way, nor suffer to be past in
coinage, used or disposed of, any copper of whatever kind, until it shall have
been delivered at Patna in one or other of the two modes above prescribed.
5. That
if the coins delivered by Mr Prinsep shall prove on trial to be inferior to the
best Japan copper they shall be forfeited to the use of the Company.
6. And
lastly that the grant shall be made for the first term of three years from the
first day of Bysaak or ninth of April next, and for the further conditional
term of twenty seven years subject to the following exceptions and conditions
That
if the Honble Court of Directors or Governor General and Council of the
Presidency of Fort William for the time being, shall at any time after the
expiration of the term of three years above mentioned, disapprove of the grant,
and order the suspension of it, it shall remain suspended during their
pleasure. But that in the case of such suspension, the grant shall still remain
dormant, and if in future it shall be found expedient to resume a copper
coinage, or to allow any copper mines to be worked within the three provinces, such
coin shall be taken from Mr Prinsep on the terms prescribed and his mines shall
be worked by himself his heirs, executors or assigns on payment of the
prescribed duty for the uncoined product for so long and as often as the
suspension shall be so withheld until in shall be wholly revoked. The interval
or intervals of such suspension to make no part of the thirty years for which
his property in the mines shall have been granted.
The
Board observe that in fixing the price of the coinage at eighty sicca rupees
per maund, they have been guided principally by the opinion given by the Mint
Master in his letter to the Board dated 4 August 1778, in the following words:
“I
am of opinion that fifty rupees a maund is too low for the nominal value of a
copper coin, and altho’ on adverting to the present price of the metal, the
rate it stands valued at in the Dawk price (viz 80 rupees) seems to border on
the other extreme. Yet I would prefer it, not only to the former but also to
every other nominal value whatsoever, for to say nothing of the immediate gain
accruing to the Company therefrom, should copper rise to its former price of
seventy to seventy-five rupees per maund, it will not then be over-rated, and
it will have the further advantage of being no innovation, otherwise than that
pice in halves and quarters pass in the bazar as well as at the Post Office and
if, contrary to all probability, the price of copper should even fall, the plan
might still succeed, by adopting measures to promote the circulation of the coin
and to prevent counterfeits.”
It
is to be remarked that the coins which were at that time under the
consideration of the Board were proposed to be made of the common sheet copper,
which is of a much inferior quality to Japan copper, the standard of coinage
now intended to take place.
The
pice of the weight proposed will be less in bulk than a sicca rupee, which
experience has shown is the most portable and best adapted to common use. Its
current value will be one quarter of an anna and at the same time exactly equal
to one anna of [cowries], estimated at the medium rate of four [couris] for the
rupee, so that in each kind of currency it will fall within the familiar habits
of every order of the people and its admission into common use be easily and immediately
effected without any appearance of innovation.
Ordered
that a copy of the forgoing resolutions be transmitted to Mr Prinsep, and that
the Secretary do require of him for the information of the Board, the districts
in which the mines have been discovered.
Extract
of the proceedings of the Honble the Governor General and Council
Letter
from Mr Prinsep
In
reply to your letter of the 4th instant, I am to inform you that the
mines in question are situated in the districts of Rotas and Monghyr.
I
am likewise to request you will be pleased to acquaint the Honble the Governor
General and Council of my entire acquiescence in their pleasure, and readiness
to pay the Zamindars or other proprietors of the lands where these mines lay, a
full equivalent of their present collections from the day I shall be put into
possession.
I
shall esteem it a favor your furnishing me immediately with official letters
from yourself to the Provincial Collectors as I propose to begin working
without loss of time.
Agreed
that the following letter be in consequence written to the Provincial Council
of Patna and Collector of Boglepoor
Having
thought proper to enter into engagements with Mt John Prinsep for working the
mines in Sircar Rotas (Monghyr inserted for the Collector of Boglepoor) for a
period of thirty years, and to receive from him in coin the copper produce
thereof, we direct that you afford Mr Prinsep or his agents every necessary
assistanceand protection and that you put him into immediate possession of such
spots of lands as he shall claim in virtue of this grantfor working the mines
therein described, but no others, subject to the payment of the full present
annual collections of the Zamindar.
Views
of the Company’s Attorney on the agreement
He
draws attention to a number of points but most importantly (for the future) he
stated:
…There
seems a difference, at least in the mode between the Board’s resolution and the
contract. The resolutions separately say that it is to hold for 3 years certain
and 27 more years conditionally, whereas the contract blends together all the
thirty years subject to suspension only if objected to before the expiration of
the first three years, whereas by the Board’s resolutions it would appear that
these three years are precisely the only time no objection so to suspend the
grant are to be made…
The
Board agrees that this should be changed.
A
new contract is ordered to be prepared
Letter
from Prinsep to Calcutta
I
have now the satisfaction of presenting you four standard pieces of copper
intended for the new coin, all four of equal fineness one of which you will be
pleased to retainfor the security of Government and return the other three with
such mark of distinction as shall warrant my beginning the coinage at the
places you have been pleased to appoint.
Ordered
that the four standard pieces of copper intended for the new coin and submitted
by Mr Prinsep to the Board for their approval of them, be sent to the Mint
Master with orders to him to examine tham, to report if they be all the same
fineness and equal in fineness and purity to the best Japan copper and to mark
them with a stamp if on examination of them he should find that they are so.
Bengal
Consultations. IOL P/2/42,
Letter
from the Mint Master dated
In
obedience to your orders of the 8th instant I have examined standard
pieces of copper intended for Mr Prinsep’s new coinage and find them nearly of
the same fineness but inferior in fineness and purity to Japan copper.
I
therefore return them without the stamp which otherwise I should have affixed
on them.
Ordered
that the standard pieces of copper be sent back to Mr Prinsep that other
standards may be furnished in lieu of them.
Bengal
Consultations. IOL P/2/46, 20th September 1781. p412
Letter
from John Prinsep to Calcutta dated
A
small quantity of the new copper money being now ready, I purpose with the
Boards permission to make an immediate dispatch of it to the treasury, and
therefore am to request the proper orders may be given for its acceptance, and
for payment of the amount at the cotract rate with such charges as may be
levied at the custom house in consequence of some late regulations in that
department to which I can be no way considered as liable, under my engagements
with the Honble Company.
Resolved
that the sub-treasurer be directed to receive from Mr Prinsep from time to time
such new copper coin as may be tendered by him at the treasury paying him for
the same at the rate stipulated in Mr Prinsep’s contract with the Honble
Company.
Ordered
that directions be given to the commissioner of the customs to pass the new
copper coin to be sent by Mr Prinsep from Pultah on account of the Company free
of all duties.
Bengal
Consultations. IOL P/2/46, 24th September 1781. p460
Proclamation
Resolved
that the following proclamation be translated into the Persian, Bengal &
Armenian languages and made public throughout the provinces.
Advertisement
Fort
William,
The
Honble the Governor General and Councilhaving thought proper to establish a
copper coinage, and copper coins by their order having been struck of the
denomination, value, weight and with the inscriptions described in the annexed
table, they hereby authorise them to be circulated throughout the provinces
under their Government at the rate of eighty siccas rupees for the maund of
eighty sicca weight, at which rate they will be issued from the treasuries and
other public offices. And as it is their intention to make the circulation of
the copper coin general throughout all the districts, they hereby order and
direct all Collectors of the revenues and other persons entrusted with the
receipt of public money to receive the same when tendered in the proportion of ten
rupees in every thousand to be weighed when paid in sums exceeding half a maund
in weight, and to be issued again in like manner and at the above rate in all
public payments. And in order to establish it as a necessary division of a
sicca rupee, and a convenient medium between silver and cowries in the purchase
of the common necessaries of life, the Governor General and Council direct that
the coppercoin be received and paid according to the relative value fixed in
the annexed table of copper to cowries without any discount or batta whatever,
which however is not to influence or affect the bazar price of cowries.
Table
showing the Denominations, Value, Weight, as also the Inscriptions of the
Copper Coin struck by Order of the Honble the Governor General and Council, the
Circulation of which they hereby authorise throughout the Provinces under this
Government
|
Denomination |
Relative Value to a Sicca Rupee |
Relative Value to Cowries |
Weight |
|
Madosie |
6 Pice
sicca each. 2 equal to
an anna sicca and 32 to a sicca rupee |
Equal to
160 cowries |
20 annas
sicca weight each or 2560 in the maund of 80 sicca weight |
|
Faloos |
3 Pice
sicca each. 4 equal to
an anna sicca & 64 to a Sa Rupee |
Equal to
80 cowries |
10 annas sicca
weight each or 5120 in the maund of 80 sicca weight |
|
Neem
Faloos |
1 ½ pice
sicca each. 8 equal to
an anna sicca & 128 to a sicca rupee |
Equal to
40 cowries |
5 annas
sicca weight or 10,240 in the maund of 80 sicca weight |
|
Pau Faloos |
¾ Pice sicca
each. 16 equal
to an anna sicca and 256 to a sicca Rupee |
20 cowries |
2 ½ annas
sicca weight each or 20,400 in the maund of 80 sicca weight |
Bengal
Home & Miscellaneous Papers. IOL H/62, p285ff.
Letter
from Alexander Cunningham to the Chairman of the EIC, dated
Encouraged
by the polite reception I met with from you when I had the honor of attending
you in the India House, and by the assurances of Mr Shakespear of your
willingness to attend to any business I might wish to lay before you previous
yo my publickly addressing the Honble Court, I flatter myself you will pardon
the liberty I take in preparing this to leave at your house in case I should
not be so fortunate as to find you at home, and the nature and importance of
the concerns of my partners & self are engaged in with the Honble Company
will likewise I hope plead my excuse for requesting the favour of an
appointment to a conference with you.
Having
learnt that the captains this year are allowed to carry out copper to India,
and the long detention of the honeward bound ships having prevented you from
knowing that mines of that valuable metal are discovered in Bengal, I think it
a duty incumbent on me as a partner of Mr Prinsep’s, come home to transact the
business of our house with the Honble Court themselves (before the next fleet
sails) to acquaint them of this important discovery, as well as with the
establishment of a copper coinage thro’ the three provinces. The enclosed paper
will give you some insight into the nature of it, and I shall be happy to have
the honor of your advice about it as well as to point out to you how far the
Company are engaged in it…
Bengal
Consultations. IOL P/2/51, 29th April 1782. After p449
The
Assay Master at Madras (James Taylor) sends a long letter explaining that the
gold he has is too brittle and that the Mint Master at Calcutta should have
done his job properly!
Bengal
Consultations. IOL P/2/53, 29th July 1782. p548
Letter
from Mr Becher at Dacca dated
In
obedience to your commands under date the 14th June, I have obtained
from Mr Paxton and by other means every information I could to enable me to
form a plan for conducting the office you have been pleased to appoint me to in
consequence of your resolution to revive the mint at Dacca. I have inspected
the spot and remains of the building where the coinage was formerly carried on.
It is so much in ruin that if the business is to be carried on then I am
persuaded it will be most for the Company’s interest to erect the necessary
buildings entirely new. Should this be your pleasure I will order an estimate
of the expence to be prepared, and forward it for your future orders on the
subject. Building here is much cheaper than in Calcutta and I apprehend the
necessary buildings might be erected and completed for about 4000 sicca rupees.
I have enquired whether the ancient spot for coinage is esteemed essential by
the natives and am assured it is not, which being the case, and considering
that erecting buildings will not only be attended with considerable expence,
but occasion delay, and as I find a general wish in the people here that the
mint should be immediatley established, permit me to recommend that a house
mear the factory may be hired, in which the business can be carried on. Mr
Hasleby, my assistant, may reside in the house and I also can give more
frequent attendance.Such a house may be rented not exceeding 150 rupees per
month and, at a small expence, the lower apartments may be fitted up for the
business should it be judged proper hereafter to purchase the house, I doubt
not but it may be effected on reasonable terms. On the most mature
consideration and after the best information I can procure, I take the liberty
to recommend that sicca rupees and gold mohurs be the species allowed to be
coined in the mint, of the same standard as is coined in the mint at Calcutta
and I am of opinion that they should have no distinguishing mark, that the
shroffs may not be able to establish a batta on the rupees being carried out of
this province, which they certainly will do if there is any distinguishing
mark. I am further advised that smaller coins will prove a convenience to the
inhabitants. If you approve it, we may coin halfs, quarters and eighths both in
gold and silver. I enclose you, agreeable to your orders, a list of such an
establishment as to me appears proper at present for conducting the business of
the mint. Should any alteration hereafter become necessary, I shall advise you
and wait your orders before any additional servants are admitted or expence
incurred, except such workmen as may be necessary on a considerable increase of
coinage, and you may depend I will use my best endeavours that the mint at
Dacca shall be properly conducted so as to prove of benefit to the inhabitants
of this provinceand of advantage to the Honble East India Company. Permit me to
request that you will favour me with your directions respecting the mint to be
established here, as soon as possible, that the business may be commenced.I
apprehend I shall have occasion for some sepoys as a guard, and an advance of
some monay. You will favour me in giving such directions as you may judge
proper, that these wants may be supplied. If you, Honble Sir and Gentlemen,
should approve my proposal for coining the sicca rupees and mohurs, exactly the
same as in the Calcutta Mint, I apprehend it will be necessary that I should be
furnished by the Mint Master with the dye used in that mint and one or two people
well versed in the business to enable us to commence perfectly right. Should
you concur in this sentiment I request the favor you will issue the necessary
orders, that there may be no delay in the people proceeding here. I take the
liberty to enclose you an indent of stationary, which will be wanted, and
request that it may be complied with.I am afraid the list of servants I now
forward will be found deficient, and that others will be required when the
business goed on. If any men are sent from Calcutta their wages must be added.
Many others will be employed but I am informed custom has established in the
mints of this countrythat they receive their wages from a [resume] paid by the
merchants and others who send money to the mint to be coined. Charges of
coining, duty to be received by the Company, and commission usually allowed, I
presume are to be regulated by which is the practice in the Calcutta mint. If
from circumstances any part of the expense can properly be reduced, I shall be
attentive to the interests of the Company. Only permit me to observe that in
Calcutta the coinage is very extensive. Here it will require time to judge
whether the coinage will be considerable or trifling. As far as my interest is
concerned in this subject, I refer myself entirely to your determination. I
have made every enquiry in my power to enable me to comply with your directions
to forward early samples of the different species of rupees which are current
in the Dacca division, with reports of their currect batta and intrinsic value
relative to siccas. I find there are rupees of many species of which a few are
to be met with, but in reality those to be esteemed current are only French and
English Arcots, and siccas, the batta continually fluctuating, often varying
three or four per cent. As other siccas are wanted to pay the revenue, or
Arcots to send to the Aurangs to purchase cloths, I hope the reestablishment of
the mint here may in time prevent this great fluctuation and give a general
currency to the sicca rupee. If after this representation you still wish to
have the samples and information required, your orders shall be punctually
obeyed.
List
of Servants necessary to be kept on the reestablishment of the mint at
|
|
Rupees |
|
Mr Samuel
Hasleby Assistant |
500 |
|
Banian and
his attendants |
120 |
|
One Doroga |
101 |
|
1
Tanhsally a deputy |
20 |
|
1 Pishear |
|
|
2 Mohurys |
|
|
1 Choesey |
|
|
1 Jemuldar |
|
|
2 Peons |
|
|
2 Bearers |
|
|
1
Tanhsally Pishear |
|
|
32 Shodahs |
|
|
4
Goazahgeers |
|
|
20 Durrups |
|
|
2
Chandipittos |
|
|
2 Tancey |
|
|
1
Sichchees |
|
|
1
Gunnooahs |
|
|
2
Tarrazoobus |
|
|
1 Mohur
Cund |
|
|
1 Pushear |
|
Those servants to whom
no pay is affixed are to receive theirs according to custom from the Rezum only
when they are employed
Agreed that Mr
Becher be desired to hire a house for the purposes mentioned in his letter and that
he be informed that the Board approve of his coining sicca rupees and gold
mohurs of the same weight and standard as those of Calcutta but do not approve
of their being struck with the same dye, as the Board have experienced many ill
effects from that cause when the coins which were struck in the mints of Patna,
at Dacca and Calcutta were stamped the same with those of Moorshedabad as it
would prove an encouragement to [ellieis] coinage and destroy the
responsibility which each office holds for its own accounts.
Agreed that Mr
Becher be authorized to make such establishments as he may find necessary
waving it till the business shall be so far in train as to admit of a fixed
establishment and that he be informed that the Board cannot immediatley
determine on his allowances as they think it necessary to have some experience
of the business of the mint, but that when they are fixed they shall commence
from the day of his appointment.
Ordered that Mr
Becher’s indent for stationary be complied with
Ordered that the
Mint Master be directed to furnish Mr Becher with as many dyes as he may want
but with the name of the Dacca mint and to furnish such other assistance as Mr
Becher may require. Also a form of the books in his office and all orders
respecting the mint or coinage of Calcutta now in force.
Bengal
Consultations. IOL P/2/55, 16th September 1782. p13
Letter
from Mr Becher (Superintendant of the Mint) at Dacca to Calcutta dated
I
now forward you five gold mohurs and five sicca rupees coined in the mint at
Dacca which I hope will meet with your approbation. I am assured they are
exactly the same standard with the money coined in your mint at Calcutta. I
request you will favour me by acquainting me as soon as you conveniently can if
they are found to be so.
Sent
to the Mint Master
Bengal
Consultations. IOL P/2/55, 7th October 1782. p331
The
Assay Master reported the assay of the Dacca coins. The mohurs were exactly to
standard. The rupees slightly above
Bengal
Consultations. IOL P/2/55, 28th October 1782. p535
Letter
from Mr Becher (Superintendant of the Mint) at Dacca to Calcutta dated
On
the 13th September I sent five gold Mohurs & five sicca rupees
coined in the mint here to be assayed in Calcutta & I wait your reply. The
mint was opened here on the 26th August, but to this hour very
trifling sums have been sent in to be coined. It has been represented to me
that formerly the revenues from Noosenabad, Naginagur and Chittagong were in
the different species they are received in those parts sent to Dacca to be
coined into siccas or sold, whereas at present they get them exchanged into
siccas in other parts of the country & deliver in their revenues. If an
order can be issued for these various species to be sent to the mint at Dacca
& receive their amount either in siccas here or in bills upon Calcutta, it
would be of great assistance to the mint, & it’s further represented to me
that if siccas of the 12th sun to the 15th sun inclusive
could be reduced to sonaut & only 19th suns to be current, that
this measure also would promote the coinage here very much. Arcot rupees are so
much the currency in these provinces that they may almost be said to be the
only coin known out of the city of Dacca. All the manufactures are purchased with
them. There are various Arcot rupees and many very bad sorts. Whether it would
be a proper measure to allow Arcot rupees to be coined in the mint here is
worthy your consideration. It certainly would bring many to the mint and it’s
represented to me it would be of use to the circulation of the country. I beg
leave to refer these points to your better judgement & shall punctually
obey any orders you may please to send me. As most of the siccas coined in the
mint will be conveyed into the other provinces, I apprehend an order of
Government is absolutly necessary for their passing equally with the Calcutta
coinage, more especially as they bear a particular mark which may give the
shroffs a handle to draw an advantage from them. Unless some measures are adopted
to induce the different zemindars, farmers & others to bring their various
species of inferior rupees to the mint at Dacca I do not see a probability of
this mint answering any good purpose to our Honble Employers. I have been
obliged to call on Mr Holland for a second 2000 [Sa Rs] to pay the salaries and
defray the expenses of the mint.
Letter
from Mr Becher (Superintendant of the Mint) at Dacca to Calcutta dated
I
have received your favour of the 7th enclosing a copy of the Mint Master’s
report in consequence of an assay made on three gold mohurs and three siccas
rupees sent from the mint here. I am glad to find that the gold mohurs are as
they should be & the sicca rupees right in weight but finer than the
Calcutta siccas. We will endeavour in future to make them exact but I would own
that I should be glad of a further explanation on the whole of the report
respecting sicca rupees. You will oblige me by requesting of Mr Paxton to send
it. I have been long ill & am advised to quit Dacca for a time. I wish to
proceed towards the Presidency & probably may visit it. I am therefore to
request permission from the Honble Governor General & Council to leave the
charge of my office as Mint Master with my assistant Mr Hazelby & in the
present state of the business he is very capable of conducting it.
Becher
is allowed to come down to the Presidency leaving Hazelby in charge. Other
points are referred to the Mint Master.
Bengal
Consultations. IOL P/3/2,
Letter
from Mr Becher at Dacca to Calcutta dated
I
now transmit for your information an account of receipts and disbursements of
the mint from its commencement to the 31st October
This
was referred to the Accountant General
Bengal, Home & Miscellaneous. IOL H434, No 3, p57
Letter
from Mr Geo Smith dated
A
proposal to reform the currency by calling in all mohurs and sicca rupees and
recoining them at lower weight, giving a premium of 6 per cent on all imported
bullion and coins, which would have to be minted into the indiginous coinage,
etc
Bengal
Consultations. IOL P/3/9, 3 January 1785, p60
Letter
from Croftes, Alexander & Paxton (arbitrators of Prinseps claims) to
Calcutta, dated
The
agreed award is written in detail and goes on 70 p77
p73
has the statement
…and
also all other tools and implements belonging to all or any copper mints of the
said John Prinsep either at Pultah, Patna or any other place or places
whatsoever
p78
shows schedule A which, inter alia,
refers to the Patna mint
p79ff
shows schedule B which gives details of all the tools in the different rooms of
the mint(s):
Sheer Room
5
Gaughes and steel scribers for marking the sheets of copper into slips
4
pairs of extra large sheers with strong wood frames and stands compleat, for
cutting the sheet copper into slips
A
pait of smaller ditto with wood frame and stand
Mill Room
A
large cutting and flat[en]ing machine for cutting the sheet copper into slips
and flatting it to its propoer thickness compleat with four extra cutting tools
and two extra brass cogwheels for ditto, and screw wrenches
A
small flatting mill for flatting the slips to their proper size with screw
wrenches, keys etc compleat
Cutting Room
4
boards with 12 steel scribers and 12 rulers for marking the diameters of the
pice on the slips of copper as guide to the cutting machine
A
single cutting machine for cutting the blank pice compleat with 6 extra dabs
and bolsters
A
double cutting machine for citting out the blank pice compleat with 12 extra
dabs and bolsters, 2 standing trays, 2 troughs to the blank, 2 stools &
wrenches etc
A
double horizontal machine for cutting the pau faloos pice compleat with 12
extra dabs and bolsters, tray stools etc
An
extra strong double cutting machine for cutting the blank madoosie pice
compleat with 12 extra cutting arbors and bolsters, trays, stools, wrenches etc
A
double cutting machine compleat with 12 extra dabs and bolsters, tray, tools,
etc
A
Tower Mint cutting press compleat with extra dabs and bolsters
A
Tower Mint flatting press for flatting the blank pieces of gold and silver
compleat with 3 extra boxes and bolts
A
table with seals, weights compleat for weighing out the blanks to the softners
to clean them
A
pair of small seals for weighing of single pice
A
pair of ditto for ditto in seers
A
pair of larger with a triangle compleat
4
large wooden trays for carrying pice in
2
extra flywheels and crank handles for the cutting machines
Softners Rooms
2
Furnaces for anealing the pice compleat with the following articles: 2 iron
peels, 4 pairs of large tongs, 20 square iron pairs for holding the pice, 2
rakes, 2 pokers
3
troughs for holding the liquid for cleaning the pice with 2 large and 8 small
tubs for [putting] the pice in
2
barrels mounted on strong stands with iron [spindell guid geons] and handles
compleat with draining tubs
A
Pair of scales for weighing back the pice to the stamp room
2
long store chests to keep pice in, with good lock and keys
28
iron moulds for cutting the slips of copper
Stamping Room
19
stamping presses compleat for striking the impression on the money with 2
hammers and 3 pairs of new dyes each, hammer, wrenches and every tool for
setting the dyes
A
hammer mill for stamping the pice with dyes compleat
A
Tower fashioned press with wooden body compleat with dyes for striking pice
Treasure Room
1
store chest with strong lock and key for containing the finished money
3
open store chests
1
pair of scales with triangle compleat with 10 ledden weights w.g 38 [Sr] 15
[cht]
Filing Room
A
large turning lathe compleat for turning iron, brass, steel etc
24
steel truning tools with wood handles for iron turning
24
ditto ditto with ditto for brass turning
A
strong collar and mandrell laith compleat with 12 steel turning tools for
turning iron
12
ditto ditto for turning brass
6
ditto ditto for turning wood
4
brass checks
1 iron ditto
6 wood ditto
for ditto
A
wheels and frame compleat for turning both laiths
2
small pulleys iron and copper with screws compleat
1
wood ditto with iron screws
6
wood ditto plain
A
small grindstone with a wheel draught and table compleat, for grinding the
turning [the] tools
A
small foot laith for turning wood compleat with 12 turning tools
A
Bengally laith for turning wood compleat
A
small portable forge compleat with bellows, stake, 2 hammers, 2 pairs of tongs,
1 rake and shovel
9
vices with benches compleat
2
small stakes
A
pair of strong iron stocks with 20 pairs of dies and 24 taps, steel with tap
wrenches, screw keys compleat
6
large steel boarers for boaring the cutting machine
4
small ditto for making the cutting machine
2
braces for ditto
4
screw plates with taps compleat for cutting small screws2 saws and frames,
sawing iron
12
hammers of different sorts
2
hand vices
8
old rubber files
A
drill bow breast plate and 12 drills compleat
2
oil stoves [and] wood lamp
100
files of different sorts with wooden handles compleat
200
new files of different sorts
3
pair of compasses and a pair callibies
Smiths Shop
5
forges with anvils, sledge and hand hammers, iron tongs, shovels rakes,
chizels, set hammers, punches, coal troughs and water tubs compleat
1
large forge with large bellows, anvil and crane compleat, for forging large
iron work.
1
large brick iron and 2 small stakes
1
beam drill with 2 braces
12
steel drills for drilling large holes in iron compleat with a vise and bench
2
strong vises for bending hot iron
1
grindstone and trough compleat
12
files with handles
6
hand chizels and 6 punches
Moulds
Wooden
moulds of several machines in the Pultah mint
Wooden
[suket] and pigs of [east] iron for the anvils of the stamping presses
A
bell and wood stand to let the people go from work
[Callasey
chaprass]
Pass
ticket brass
Tools used for the Bengally method
of Coining
150
hammers for forging the pice
9
pairs of tongs for holding the copper to be cut
500
small chizels for cutting the copper
10
gauges for flatting the blank pieces
25
pairs of tongs for heating the blank pieces in the fire
10
small pinchers for holding blanks to hammer round the edge
4
moulds for cutting pice in
67
pairs of small scales with wooden boxes
1
large box for holding the above tools
Carpenters Tools
A
large saw
1
frame ditto
1
dovetail ditto
1
Bengally ditto
1
iron cramp for framing woodwork
4
large augurs
1
adze
1
round A[dze?]
1
Bengally ditto
1
large hatchet
1
small ditto
6
drills and stocks for wood
3
board firmers and 2 large gauges new
4
[Newmort] chizels
4
ditto firmer and 3 small gauges new
3
small firmers new
5
large leather bits
4
smaller ditto
6
new centre bits of sorts
4
large gauges and handles
6
mortice chizels of sorts
3
large ditto
2
large firmers with handles
6
small ditto of sorts
5
rasps of sorts with handles
7
files with handles
4
old plains
2
pairs of compasses
4
wood squares
1
pair of pinchers
3
hammers of sorts
A list of mint tools lost on board
the ships Duke of Athol & Kingston and replaced in ship Earl Cornwallis
A
cutting press compleat with extra dabs and bolsters
A
flatting press compleat with 3 extra boxes and bolts
2
flatting mills compleat with spindells gundgions etc
2
large bodies in cast iron of 2 fly presses unfinished
2
chests of extra files
500
[Wt] of dye steel
All
this was to be deivered to the Calcutta Mint Master
Bengal
Consultations. IOL P/3/9, 24 January 1785, p516
Letter
from the Resident at Murshidabad to Calcutta, dated
Independent
of the solicitations of all the bankers and principal inhabitants of Moorshedabd
and its neighbourhood, I think it a duty encumbant on me from the high station
in which you have thought fit to place me, to represent to you the great
advantages which would accrue, not only to its inhabitants composed of all the
first families in Bengal, but to various other parts of the country from the
re-establishment of the mint at Moorshedabad.
Whilst
it continued there, the bankers flourished, and in consequence in every case of
emergency, money to any amount was to be raised there. Since its abolition they
are ruined. Even the family of the Seths are scarce able to keep up the
appearance of business. The bad effects of this have been too frequently
experienced by the Nabob and his family during the time of my residence at his
court, where frequent instances have happened in which from the inabilty of
Government to pay his stipend regularly, he has been reduced to the utmost
distress, and from the ruined stae of the bankers, I have not been able, though
backed by all the influence of the Board and his own, to borrow a single rupee
for his relief, whereas had the mint continued there, such a scarcity of specie
could never have happened.
I
flatter myself that your Honble Board, whose wish must ever be to preserve the
ease and dignity of the great families of the country and more particularly of
that of the Nabob, will give this consideration its full weight.
Multitudes
of people would bring their bullion to a mint here, who would not run the risk,
or submit to the expense and trouble of transporting it to Calcutta.
The
expence of it to the Honble Company cannot be great and the advantages to be
derived from it to the country and its revenues would greatly overbalance it. I
do not presume to offer this to your consideration merely on my own judgement
but on the joint opinions of the best informed men of the city. Not a day
passes but I receive applications from various quarters to solicit of your
Honble Board, its re-establishment. The fear of being thought to obtrude myself
officiously on your notice in a matter which no otherwise concerns me than as a
well-wisher to Government has hitherto deterred me from such a step, and I
trust that when you consider my motives, you will excuse my having now done it.
There
then follows a signed petition from Juggut Seet and another from all the
bankers of Murshidabad
Bengal
Consultations. IOL P/3/9, 28 January 1785, p675
William
Paxton resigns as Mint Master
Bengal
Consultations. IOL P/3/10, 10 February 1785, p190
Letter
from John Prinsep to Calcutta, dated
I
am proposed in compliance with the award given the 31st ultimo to
surrender the tools and implements of the Pultah mint and in order to
demonstrate that the expense of labor, invention and money laid out upon it has
not been uselessly employed, I hope to be excused the liberty of presenting the
Honble Board, two complete setts of gold, silver and copper coin of the Bengal
standard and impression, but which I hope will appear to have been executed in
a manner superior to any money of the Moghul Empire. These proofs have been
struck with the tools of the Pultah mint, which wants very little, being
complete.
The
plea of professional knowledge and experience must ever, I apprehend, continue
to introduce men of particular qualifications to seberal departments of this
Government, out of the common line of service. It has been hitherto urged with
effect in too many instances to need enumerating particular ones.
I
wish to be allowed this plea in my present application to your Honble Board,
for the temporary succession to your Mint Master when he shall resign. I have
already urged it in an address to the Honble Court of Directors, which is now
before them for deliberation and [….]rather press the point at this period,
because a report prevails of Mr Paxton’s intending shortly to proceed to
Europe, your acquiescence would afford me the honor of completing a work which
I cannot doubt you will consider of very great importance to your Government, a
perfect coinage.
I
will not support this application upon the grounds of the very heavy losses I
have incurred in the prosecution of two other objects of some importance, the
chintz manufactury and the culture of indigo, tho’ the magnitude of the latter
and the general benefit to the country which has accrued from both might, I
should humbly conceive, entitle their undertaker to a continuance of your favor
& patronage. But I hope this last instance of my submitting to surrender
the grant of copper mines and coinage in deference to your commands at an
indemnity short by two thirds of my real disbursements, entitle me to some
consideration especially if I am understood to be applying not for a post of
rank or emolument, but for leave to complete what I had undertaken for the
publick benefit. I wish to be confined to the mechanic part of the business, to
the manufacture of the coin only and if the Honble Board shall be apprehensive
of incurring any additional expense, I am ready to give up any claim to salary
or emolument until I shall be confirmed from home, or you shall be convinced of
the utility of the undertaking and its amply repaying the Company in time what
has been expended upon it.
I
shall esteem it a favor if you will be pleased to direct a copy of this address
a number in your next packet, and a sett of the coins to be dispatched by an
early ship to the Honble the Court of Directors.
I
ought to observe that besides those accompanying this letter, only four other
impressions are take, a sett for each member of Government and one for myself.
The dyes are carefully locked up and will be deivered with the implements when
required.
The
secretary informs the Board that the coins accompanying the above were sent to
the Court of Directors by the Berrington
Ordered
that Mr Prinsep be informed that the Board cannot confer the appointment upon
him which he solicits, consistant with the Company’s orders.
Letter
from Prinsep to Calcutta, dated 25th January
On
presenting at the treasury your order of yesterday’s date for payment of the
indemnity awarded for surrender of the copper mines and coinage grant, I have
been informed by MR Croftes, the sub-treasurer, that he cannot either discharge
it at present, or engage to pay the money at an early day, in preference to
orders of older date without the special warrant of the Board.
I
beg leave therefore to request that he may receive instructions (for the more
easily liquidating this large sum) to grant interest deposit receipts of the
same date to the extent of the order for ten and fifteen thousand rupees each,
and be further directed to pay them inturn with other debentures upon the
treasury.
The
Board do not think it proper to comply with the above request of Mr Prinsep but
leave him at liberty to make any reference he chuses to the arbitrators for
their explanation and further decisionto form a supplement to their award if he
is not satisfied with the order on the treasury which he has received
Bengal
Consultations. IOL P/3/10, 21 February 1785, p442
Minute
Resolved
that Mr Herbert Harris be appointed to the office of Mint Master which has been
vacated by the resignation of Mr William Paxton
Bengal
Consultations. IOL P/3/12, 20 June 1785, p469
Letter
from the Mint Master (Herbert Harris) to Calcutta dated
In obedience to
your commands signified to me by your secretary, I proceeded up to Pultah for
the purpose of receiving the copper coinage machines from Mr Princep, but was
obliged to postpone taking charge of them until I could return to bring them
away, as the locking them up in a confined room might greatly injure the finer
parts of them.
I have now the
honor to inclose for your inspection a set of silver coins that were struck
with these machines, and humbly submit to your consideration the making use of
them in the Calcutta mint for the gold and silver coinage. The benefit that
will result to the Honble Company, and to merchants and others, I shall in part
enummerate.
1st,
the advantage of having a beautiful milled coin that cannot be counterfeited by
the natives. The present one is so very imperfect that it requires but little
art or ingenuity to imitate it, as is heavily experienced from the number of
bad rupees in circulation.
2nd, it
will effectually prevent the farmers and others employed in the collections
from taking a batta on the rupees of different years, which is frequently
practiced, and also exactions under pretence of the money being base.
3rd,
The great benefit that will accrue to the army, merchants and indeed every
native and individual in these provinces from being able to receive and pay
their own money without an intermediate agent or shroff.
4th,
the expenses of the mint may be reduced to the establishment of 1773, and all
the little petty frauds now practiced by the workmen effectually prevented.
To carry this new
coinage into execution, nothing more will be necessary than an order of
Government for their beinf received at the rate and value of other siccas, and
they will be brought so imperceptibly into use that the shroffs, who are the
only interested people to promote an opposition, will, I am almost certain, be
ready to forward the circulation of them.
As the divisions
of the rupee in halves, quarters and two annas pieces, take a considerable time
and labour in making, I humbly conceive a difference in the fineness should be
made in proportion to the expense of the coinage, and if they were struck
rather larger than the samples now delivered, they would be still of greater
utility.
Ordered that the
Mint Master do cause the Pulta mint, and every material and instrument of
coinage at that place, to be removed to the Presidency, and that the committee
of revenue be desired to give their opinions on the advantage and use of
establishing this coinage in the manner proposed.
Bengal
Consultations. IOL P/3/13, 24 August 1785, p143
Letter
from the Committee of Revenue (W Cowper, Thos Graham, J Evelyn) to Calcutta,
dated
We
have the honor to receive under date the 24th January last a letter
from your secretary accompanying copies of a letter and papers received from
Sir John D’Oyley, and requesting that we would take the subject thereof into
consideration and communicate our opinion upon the utility as well as necessity
of re-establishing the mint at Moorshedabad for the information of your Honble
Board.
Having
carefully perused and examined the several papers and proceedings which have
reference to the above question we beg leave to state to you such parts as seem
most material for forming a judgement and passing a decision thereon. The
object of the Honble the Governor General and Council when the subject of
coinage was first taken under consideration, appears from their proceedings of
the 14th August 1776 and 7th April 1777 to have been the
establishment of one currency throughout the provinces.
For
the more speedy accomplishment of this object the then provincial council of
revenue at Moorshedabad in a letter from them to the Supreme Council on the
proceedings of the 7th April 1777 suppose it may be thought
necessary that the mints of Moorshedabad, Patna and Dacca should be continued
for a time, but as soon as the purpose should appear to have been attained,
there should be one mint only either at Calcutta or Moorshedabad. The
statements which the provincial council transmitted at the same time showed
that the proportion of siccas to the other species of rupees received into the
treasury on account of the revenues of the division under their charge were as
3 to 4, but that the proportion of the wealth of the country in siccas to that
of the wealth in other species was infinitely less. For reducing the whole to
one currency, which they were clearly of opinion would prove a vast relief to
the ryots and people in general, two measures were proposed. That no rupees be
coined in Bengal but of one sun and that no commission of [serf?] and dustoor
be taken at the mints of coining rupees into siccas, and in order to assist and
facilitate the operation of these two measures, it was suggested that
Government might direct all species of Bengal rupees to be received into the
revenues at the bazar batta under certain regulations, that the disbursements
from the treasuries be made only in siccas and that the remaining species be
coined into siccas on account of Government. By these means they observe the
whole of the coinage of the country would soon be converted into siccas or the
rate of batta or exchange become almost equal to the difference only of the
intrinsick value.
We
are perfectly agreed in opinion as to the efficacy of the measures above
proposed for the establishment of one currency throughout the provinces, and
sensible of the universal benefit that would accrue to the inhabitants in
general and to the cultivators of the land in particular. We cannot help
imbracing this opportunity of adding our hope that the subject at large may
claim the attention of your Honble Board.
The
advantages which appear to us most likely to result from the re-establishment
of the mint at Moorshedabad are an immediate remedy to the inconveniences
arising from the present scarcity of the sicca rupees at that place; exempting
merchants, zemindars and bankers from the risk and loss of time occasioned by
sending rupees of other species to Calcutta to be coined; the premium on
exchanging rupees in the bazar would thereby be also lowered; the quantity of
species in circulation would in general be increased by the coinage of silver
utensils and old rupees; and circulation itself become more diffusive and
acquire new life.
Two
objections occur: the risk of the coinage being debased, which being a matter
of general policy does not we conceive come within the scope of our department;
and the probability that the shroffs will by some means or other exact a batta
upon the rupees of the different mints.
We
humbly conceive should the Honble Board resolve upon its establishment that it
should as far as possible be made subservient to the purpose of establishing
one general currency.
Letter
from the Board of Revenue (S. Charters, W. Cowper, C Croftes, J. Evelyn) to
Calcutta, dated
We
have been honored with your commands of the 20th ultimo, through
your secretary, requiring our opinion on the advantages which may attend the
general use of certain coins as recommended by the Mint Master, and of the
propriety of any difference of fineness being allowed on the smaller coins.
On
a supposition that it is intended to make the new coin equal in fineness and in
weight to the sicca rupee already in circulation (which however is not stated
in the Mint Master’s description of it) it is no doubt well calculated to
prevent some of the prevailing abuses and to correct some of the defects of the
present currency. It would equally check the frauds now practiced at the mint
and the greater evil to which the existing coinage is open of being easily
debased and counterfeited. Neither are we aware , in counterbalance to these
advantages of Mr Harris’ plan, of any peculiar objections that might be urged
against its adoption. We do not, indeed, understand how the introduction of
this new coin will, as is said by the Mint Master, be effectual to prevent the
farmers and others employed in the collections, from taking as heretofore a
batta on the rupees of different years since the impression which it bears both
in respect of the date and otherwise, is we observe, in nothing different from
that of the old rupee, and consequently will afford the same plea and
opportunity for continuing the exaction of batta. We are equally at a loss to
pronounce upon the expediency of diminishing the fineness of the smaller coins,
in proportion to the greater difficulty and expense of making them. It is not
that the reasoning of Mr Harris may not be solid and conclusive, but we are not
enough masters of this intricate and abstruse subject, to speak with any confidence
of the effects of this measure. We trust we shall meet the indulgence of the
Honble Board in submitting the question to their superior judgement.
Ordered
that a copy of this letter and the committee’s letter of 10th March
last, be sent to the Mint Master, with a request that he will give a fuller
explanation, and particularly that he will report to the Board how the
introduction of the new coin will prevent the farmers and others from taking as
heretofore, a batta on the rupee of different years, and estimate the expense
that would be incurred by the adoption of his plan.
Ordered
that he be called upon to explain the cause of the delay in coining the amount
of four thousand sicca rupees into small coins of eight, four and two annas value,
directions to that effect having been sent to him on
Bengal
Consultations. IOL P/3/13, 31 August 1785, p552
Letter
from Herbert Harris, Mint Master, to Calcutta, dated
I
am to request that you will inform the Honble the Governor General and Council
that the reson for the small coin not being struck is having no bullion of the
Honble Compnay’s in the mint, and that as yet no orders on the treasury, either
in favour of the Postmaster General or Mint Master has been issued for the
payment of it.
Agreed
that an order on the treasury for sicca rupees 4000 be issued in favour of the
Mint Master for the purpose of being prepared into small coins for the use of
the Postmaster General.
Bengal
Consultations. IOL P/3/13, 15 September 1785,
Bengal
Consultations. IOL P/3/14, 3 November 1785, p711
Letter
from J Prinsep at Pultah to Calcutta dated October 1785
In
reply to your requisition of the 20th ultimo for information by what
authority I disbursed the sum of sicca rupees 2587.1.6 to the workmen of the
late Pultah mint, I have the honor to inform the Board that this establishment
was originally fixed during the working of the copper coinage and is composed
of people completely masters of the business.
When
the late Mint Master came hither to receive the tolls and implements he found
them so numerous and bulky that he had not room for them in the [taraxal]. He
therefore proposed bearing them under locks at Pultah till the Board should
determine whether or not to adopt this mode of coinage.
I
remarked that if left without proper and constant attention to their being kept
clean many of the nicer and more expensive tools must be inevitably spoiled in
a short time.
And
moreover that when they should be worked it would be absolutely necessary the
people who had constructed them should be taken into employ as they alone
understood the business and could put many of the tools together again after
they were dismounted for removal to Fort William. That they were all under
covenants to me but if the native workmen were once suffered to disperse or
take service in Calcutta that it would be difficult to collect them again even
at higher wages.
I
proposed therefore to retain them all at the Company’s expense until the issue
of your determination and as the Mint Master could not of himself warrant or
make the monthly disbursements without an order for so doing, I agreed to pay
it myself trusting to his staement of the circumstances at a proper time to the
Board for my reimbursement.
The
new Mint Master vwas informed of and approved these measures. To him I beg
leave to refer the Honble Board and I hope there will appear no improprity in
my once again enclosing the bill, which I submit entirely to your pleasure.
The
Board not having authorized the establishment which Mr Prinsep has kept up, do
not think proper to pass this bill.
Ordered
therefore that it be returned to him.
Letter
from Herbert Harris, Mint Master, to Calcutta, dated
In
answer to your letter of the 20th ultimo acquainting me that the
Honble the Governor General and Council desire to be informed whether the
Pultah establishment is absolutely necessary for keeping clean and in proper
order the machines and implements for coinage, I should say they might be kept
clean at a less expense but as I considered the object of keeping this
establishment was the having persons who had been used to work with them and
who on their removal to Calcutta would be able to put them up again and supply
any parts that may have been hurt or damaged on the removal, I made no
objection to the establishment when Mr Prinsep informed me of it, and was glad
to find I should be able to get the people who had been so long employed and
whose knowledge of the business would render easy the introduction of the
proposed new coinage.
Ordered
that the Mint Master be called upon to report the lowest possible establishment
necessary for keeping such parts of the tools and implements for coinage as are
wanted clean and in constant repair and that he be informed that the remainder
should be sent to the arsenal to be kept clean by the people employed there.
Bengal
Consultations. IOL P/3/15, 16 November 1785, p149
Letter
from Herbert Harris, Mint Master, to Calcutta, dated
I
have this instant received your letter of the 3rd and beg you will
acquaint the Honble the Governor General and Council that the pay of the
foreman and his apprentice amounting to sicca rupees 220 per month would be
sufficient for keeping the tools and implements for coinage in order, as all
the underpeople that are necessary could be supplied from the mint, and I have
not the least doubt but that the yearly amount of wages paid to this person,
who has been bred up in the Tower, will be saved in the refining business when
any quantity of either gold or silver is sent in on the Company’s account.
Agreed
that the Mint Master be permitted to retain the foreman and his apprentice for
the purpose of keeping the implements of coinage in repair and in good order,
but that the expense thereof be confined to 220 rupee per month from the time
he received charge of the tools and actually employed those people.
Bengal
Consultations. IOL P/3/19, 7th April 1786, p1017
Letter
from Herbert Harris, Mint Master, to Calcutta, dated
I
have been honored with your commands under date 24th ultimo. It is
with concern that I have not sufficiently expressed my meaning respecting the
proposed coin when I assert “it will in future prevent the farmers and others
from taking a batta on the rupees of different years and also exactions under
pretence of the money being base”.
The
meaning I intended to convey respects the proposed coin not the old, for the
sample of the sicca I had the honor to lay before you was marked with the
English year 1784. The preserving the date in English for each succeeding year
would always determine the wear of the specie and by making no alteration in
the Bengal year the natives would have no plea to demand a batta.
It
is a certain fact that the quantity of sicca rupees in circulation in each
district is much greater at this time in proportion to the specie than when an
estimate was formed some years since, for the exports have been chiefly gold,
but it is impossible that one coin only can be established except by
Government, for in those districts where the English and French Arcots are
current, the specie when brought down to the Presidency always returns again
because the buzar price is considerably more profitable to the merchant than
the produce from recoinage, and unless Government do mint these rupees they
will ever continue in circulation.
Every
principal shroff has a house at Moorshedabad, Patna, Benares etc, whose agents
are employed purchasing bullion, gold and silver, and the profit taken by them
would not be adequate to the expense of establishing a mint at either of those
places. To re-establish a mint at Moorshedabad would give an opening to the
Dutch to claim their priviledge of coining in that mint as formerly, which used
to draw great credit to their factory as large sums were often struck for
private merchants in their name.
The
Calcutta mint establishment from the year 1780 has been fixed at current rupees
1,905..5 per month and which sum I can reduce to current rupees 1,500 per month
if the proposed coin is adopted, but this is not the only saving that will
result from it. Its beneficial effects will be felt throughout every part of
the country in the revenue as well as in the commercial line. No agent or
shroffs will be necessary as is now the case to examine every rupee, but each
ryot and weaver will be certain that the money he receives is good, and that
when he comes to pay his rent it will be taken without objection, as this coin
will have the mark of Government to support it, while the present carries its
value from the mark of the shroff whose hands it has passed thro’.
The
number of base gold mohurs are daily increasing and no one but the shroffs who
are continually examing them can detect them. The stamp is nearly as good as
the one in use, and the colour of the gold is heightened, by which means they
pass in circulation some time before the discovery of their being adulterated
is made, and in consequence the first passers of the escape detection.
Ordered
to lie for consideration.
Letter
from the Chief of Murshidabad (E Fenwick) to Calcutta, dated
Having
received several petitions and verbal representations from the House of Juggut
Seat and other principal shroffs and merchants, and it having also been
strongly recommended to me by the Nabob’s resident in the city of Moorshedabad,
to interest myself in effecting the re-establishment of the mint at
Moorshedabad, and being myself fully convinced of the necessity of the case,
knowing the great activity of such an establishment and the advantages which
would result both to Government and to the community at large, I am induced to
address you on the subject, and to recommend it to your particular consideration,
that it may be re-established as soon as possible.
I
have been informed that this measure was a long time ago recommended to your
Honble Board by the Committee of Revenue, and that the subject is now before
you, but not yet determined on, and as I doubt not but that the subject has
been very particularly laid before you, it becomes unnecessary for me to state
to you the several advantages which would result from the re-establishment of
the mint at Moorshedabad, and the particular evils and distresses which have
been and are still experienced by the abolition of it. It is sufficient for me
to recommend, as I consider it immediately my duty so to do, that the measure
may be immediately adopted, and carried into execution, in such manner as you
think most proper, soliciting on my own part only that the superintendancy of
the mint may vest in me, in the same degree as it was vested in the former
Chief of Moorshedabad.
I
beg leave to forward you enclosed a proposal which has been delivered to me by
Gangapersaud, the son of Roy Golaub Sing, the former darogah oif the mint,
which is submitted for your consideration. The terms are certainly advantageous
for Government and as Gungerpersaud bears an established good character, I have
not the least doubt but he will do justice to the trust which will be reposed
in him, should the Honble Board be pleased to accept his proposals.
Translation
of a proposal for farming the Murshidabad mint for 3 years from Gungapersaud
The
coinage to be immediately commenced under the superintendance of the chief,
independent of the interference of any other purpose.
Amount
duties as hereinafter mentioned to be paid into the Company’s treasury
for
1192 21,000
deduct
mint expenses 4665 16335
for
1193 25,000
deduct
mint expenses 4665 20335
for
1194 30000
deduct
mint expenses 4665 25335
Amount
clear and revenue to Government 64,005
Ordered
to lie for consideration
Bengal
Consultations. IOL P/3/20, 24 May 1786, p1764
Letter
from Herbert Harris, Mint Master, to Calcutta, dated
This
concerns the relative values of Calcutta and Bombay rupees and Madras pagodas.
The long and the short is that the star pagoda was to be rated at 7 shillings
and the Bombay rupee at 1 shilling and 11 pence
Bengal
Consultations. IOL P/3/21, 4 September 1786, p157
Letter
from Herbert Harris, Mint Master, to Calcutta, dated
The
Honble the Governor General having expressed a desire to open the mint at
Moorshedabad as a branch under this mint directed me to make enquiries relative
to the coinage expected there, and I now have the honor to annex a statement of
the different rupees current at the city, their prices and the mint produce at
Calcutta, by which it appears that the shroffs and merchants give more for them
in the market than they will coin into.
The
only expectation therefore is to bring into circulation the bullion that may be
hoarded up, or deposited in the hands of the shroffs. Of this I can get no
satisfactory account nor can I form any estimate of its amount bit I imagine it
can be but small as the shroffs here have houses at Moorshedabad and monthly
bring gold from thence to be coined.
After
the arrival of the foreign ships I cannot conceive it would be any detriment to
the merchants here to shut up the Calcutta mint for two months, just to make
the experiment, and this would happen at the most seasonal time when the
collections are heaviest. The value of each species of rupee will be at the
lowest and the farmers should have the opportunity of sending them to the mint
in case the shroffs should endeavour to take advantage in the exchange.
From
this trial I should be enabled to judge whether the Moorshedabad mint can be
kept open without drawing on the Honble Company an additional expense.
The
circulation at the Presidency will be in some measure affected by the opening
of the Moorshedabad mint, as the coinage at Calcutta will be at least decreased
in the proportion of one half or eight lacs yearly.
There
then follows a list of rupees found at Murshidabad and the amount they can be
coined into:
Sicca
rupee from 11 suns to 19
Sicca
rupees of 9 & 10 suns
Fooleey
sonats
Gurfooley
sonats
Daua
sonats
Duckey
sonats
Duckey
panchmille
Duckey
arcot 1st type
Duckey
arcot 2nd type
Duckey
arcot 3rd type
French
arcots
French
sepayah arcot
French
Duckey arcot
But
these are seldom brought to the mint because more money can be got in other
districts
The
Board are of opinion that the experiment ought to be made as it is a matter of
great importance, but as some of the members of the Government are absent
Resolved
that the Mint Master’s letter do lie over for the consideration of a fuller
Board.
Bengal
Consultations. IOL P/3/22, 19 December 1786, p284
Letter
from Herbert Harris, Mint Master, to Calcutta dated
I
am to request you will make the necessary application the the Right Honble the
Governor General & Council for an order on the Board of Trade to deliver
250 maunds of thin sheet copper for striking the pice ordered for the new
island.
Agreed
that the Board of Trade be requested to supply the quantity of copper required
by the Mint Master.
Bengal
Consultations. IOL P/2/, 1787 - None
Bengal
Consultations. IOL P/3/35,
Letter
from Herbert Harris, the Mint Master to Calcutta, dated
Stating
that some weights have been prepared, as instructed, but he needs more money
for others
Bengal
Consultations. IOL P/3/35, 21 April 1788, p768
Letter from
Herbert Harris, Mint Master, to Calcutta, dated
I have received
your letter of the 16th and have to inform you that I can with ease
strike in the course of a month sixty thousand half gold mohurs and sixty
thousand quarter gold mohurs equal to the sum of sicca rupees 720,000, and that
the half of the sum may be struck monthly without interuption to the current
business as the coinage seldom exceeds 150,000 per month unless bullion is
brought in from foreign nations.
Ordered that
50,000 gold mohurs be coined into small pieces of the following proportions as
soon as possible
Pieces Amt Gld Mohurs
Half Gold Mohurs 20,000 10,000
Quarter ditto 88,000 22,000
Eighths ditto 143,200 17,900
Sixteenths ditto 1600 100
Ordered that the
sub-treasurer do make advances to the Mint Master on this account in such sums
as he may require, and the state of the treasury will admit.
Bengal
Consultations. IOL P/3/35,
Letter
from Herbert Harris, Mint Master, to Calcutta, dated
The
objection Your Lordship did me the honor to communicate yesterday against the
coinage of small gold, by its effects tending to distress the lower order of
the inhabitants will, I imagine, will have little weight when it is considered
that the servants and labourers ( except in some few instances) are either paid
in gold or in silver with the batta deducted and it is obvious that an increase
of small gold money would lessen the demand for silver and in consequence
reduce the batta on exchange.
Permit
me with the greatest difidence, to submit to your Lordship’s consideration,
whether a gold coin of the value of one sicca rupee would not be of the
greatest utility in the districts.
The
manufacturer would willingly take it, if he was certain it would be received in
the revenue by the zemindar and farmer, and no reasonable objection could arise
on the part of either of them if its currency was admitted in every office of
Government supported by the authority of the collectors and superintendents of
the Khalsah and promoted by their example.
The
strong conviction I have that the present rate of exchange if the effect of
artifice and chicanery and not of absolute scarcity, warrants me to assert that
the batta would be reduced nearly to par before the sum issued shall amount to
fifty thousand gold mohurs.
Resolved
that the 50,000 gold mohurs ordered to be coined into small pieces on the 21st
instant be reduced to the following
proportions instead of those directed on that day
Half
gold mohurs 10,000
¼
ditto 16,000
1/8
ditto 8,000
1/16 ditto 16,000
Bengal
Consultations. IOL P/3/36, 6 June 1788, p720
Letter
from Herbert Harris, Mint Master, to Calcutta, dated
In
obedience to your resolutions transmitted me by your secretary I have to
request an advance of current rupees Two thousand three hundred and seventy
five, thirteen annas and three pice (2,375..13..3) to pay the establishment of
the mint and assay office for the month of June 1788.
Bengal
Consultations. IOL P/3/36, 9 June 1788, p765
Letter
from Herbert Harris, Mint Master, to Calcutta, dated
In
answer to the orders of the Right Honble the Governor General in Council of the
28th May, I have to inform you that the duty and charges on coinage
is regulated agreeable to the table of rates fixed the 1st September
1784.
On
bullion of sicca standard the charges and duty paid by individuals is three
rupees and three pice per cent.
That
when bullion is brought to the mint 1 per cent under sicca standard, the
merchants pay 2.6.6 per cent in addition to the former, of which the difference
of standard is 1 per cent, the loss of actual silver is merely in refining. 6
annas per cent received by the Company in addition 12 annas per cent and the
remaining 4 annas 6 pice is mixed with the [litharge?]. When bullion is 10 per
cent worse, the merchant is charges 11.7 per cent, which is nearly in
proportion to the former, but when the bullion is so coarse as to need being
twice refined, the expense attending it exceeds the charges to the merchant.
The
charge of coining bullion gold of the standard of gold mohurs is 1 SRs 13 Annas
per cent. When the gold requires to be refines, an additional charge of from
two to nine annas per cent to the Honble Company according to the number of
fires it passes through.
The
merchant suffers the whole loss in refining, no table of rate having been made,
nor is it possible to make one, as the country method of refining by
cementation differs according to the kind of alloy mixed with the gold, and I
have more than once met with a light coloured gold from Sumatra which has
baffled the skill of our best refiners.
The
assay by the operation of parting with aqua fortis is a good check on the
refiners and for this purpose it is used.
|
|
Rs |
Annas |
Pice |
|
Gold of
the standard of gold mohurs |
100 |
|
|
|
Allowance
for remitting & forming the planchets |
|
3 |
6 |
|
|
99 |
12 |
6 |
|
Allowance
to the Assay Master |
|
1 |
|
|
|
99 |
11 |
6 |
|
Commission
to the Mint & Assay Master |
|
8 |
|
|
|
99 |
3 |
6 |
|
Duty
received by the Honble Company |
1 |
|
|
|
|
98 |
3 |
6 |
|
Charges
received by the Hinble Company |
|
|
6 |
|
|
98 |
3 |
|
Equal to 1SRs 13A
per cent on coinage of gold bullion
|
Silver of the sicca
standard |
100 |
|
|
|
Allowance for remitting
& forming the planchets |
|
14 |
|
|
|
99 |
2 |
|
|
Assaying 4 annas per cent |
|
3 |
11 |
|
|
98 |
14 |
1 |
|
Commission to the Mint
& Assay Master |
|
7 |
11 |
|
|
98 |
6 |
2 |
|
Duty received by the Honble
Company |
|
15 |
9 |
|
|
97 |
6 |
5 |
|
Charges received by the
Honble Company |
|
6 |
8 |
|
Sicca weight |
96 |
15 |
9 |
Equal to 3..0..3
per cent on coinage of silver bullion
Bengal
Consultations. IOL P/3/38, 8 September 1788, p81
Minute
from the Governor General (Lord Cornwallis)
He
believes that the high batta on exchanging gold for silver is at least partly
due to the circulation of bank notes. He proposes to pay off the Government
debt and to stop receiving bank notes after 30th September.
Bengal
Consultations. IOL P/3/40, 3 December 1788, p34
Minute
Ordered
that an advertizement be issued in the English, Persian and Bengalese
languages, in tomorrow’s gazette, notifying that from and after the present
month the coinage of gold mohurs will be suspended, and no more gold bullion
will be received at the mint. Also that gold mohurs which have been coined in
the Calcutta mint will be recoined into small gold mohurs for the convenience
of individuals without any expense to them, and weight will be delivered for
weight.
Ordered
that the sub treasurer be ordered to make his future payments in proportions of
silver and gold according to the quantity of both in the treasury at the time.
Bengal
Consultations. IOL P/3/47,
Letter
from Herbert Harris, Mint Master, to Calcutta, dated
I
request you will make the necessary application to the Right Honble the
Governor General for an order to the import warehousekeeper to supply twenty
five maunds of large bar iron for making stamps and dies at the mint.
Ordered
accordingly
Bengal
Consultations. IOL P/3/48,
Letter
from Herbert Harris, Mint Master, to Calcutta Government, dated
I
am to request you will make the necessary application to the Right Honble the
Governor General in Council for an advance to be made me from the treasury to
the amount of sicca rupees three thousand towards constructing the house for
the flattening mill for the Calcutta mint.
Understanding
that some of the chests of tools in the Arsenal contain mant tools used by the
wheelwrights, I am also to request an order for one of them, as the common
tools procured in Calcutta are not in any respect sufficient for performing the
work so expeditiously as required.
Ordered
that an advance of sicca rupees 3000 be made to the Mint Master for the service
specified in his letter, and that the commissary of stores be directed to
supply the tools that he requires, and generally to allow him to select such
other tools as the arsenal can furnish that are deemed best suited to the
speedy execution of the work in hand.
Bengal
Consultations. IOL P/3/48,
Letter
from Herbert Harris, Mint Master, to Calcutta, dated
I
have to request you will make the necessary application to the Right Honble the
Governor General in Council for an order to the import warehousekeeper to
supply me with 500 maunds of lead for the use of the mint to be established at
Patna.
Ordered
that the Mint Masters application be complied with
Bengal
Consultations. IOL P/3/48,
Letter
from Herbert Harris, Mint Master, to Calcutta, dated
Report
on assays of silver coins. Includes a list of the coins, where made and under
whose authority. Quite a lot of different Arcot rupees listed
Bengal
Consultations. IOL P/3/48,
Letter
from Herbert Harris, Mint Master, to Calcutta, dated
I
request you will make an application to the Right Honble the Governor General
in Council for the furrther sum of silver rupeess three thousand to be advanced
me on account of the building erecting for the new mint.
Agreed that an
order on the treasury be issued for the amount sesired by the Mint Master.
Bengal
Consultations. IOL P/3/50, 13 January 1790. p117
Minute
from Mr Shore to the Board, concerning the coinage, extracted from the Revenue
Dept, dated 28th October 1789
This
seems to be the main review which led to the new milled coinage
Essentially
concludes that a new coinage is necessary and that the ‘European’ method should
be used.
p190
the minutes continue:
The
Board agreed in opinion with Mr Shore as to the principal on which he proposes
the recoinage of the rupees should take place, but previous to adopting them
finally, think it necessary to ascertain whether the machines and implements
for coining and milling money in the European manner are ready or can be
procured or made in this country, and whether there are any persons who are
acquainted with the manner of fixing them up and making use of them. The Mint
Master and Lt Golding being in attendance are called before the Board, and the
Mint Master being asked what machines and implements would be required for
establishing four mints and what number are ready [and] can be procured, he
delivers in the following statement
Implements
required for each mint
1
Flattening mill
2
cutting machines
1
stamping press
2
milling machines for graining the edges of the rupees
12
brass ingots
Implements
to be made to complete the machines for four mints
3
small cutting machines
2
stamping presses
7
milling machines for graining
To
be purchesed
2
flattening mills
Implements
ready in the mint
2
flattening mills complete
1
small cutting machine
4
large cutting machines
2
stamping presses complete
Lieut
Golding being asked whether with the assistance of the artificers in the
arsenal, he could make all the above machines and implements for coining money
in the European method, he replies that he is of opinion that he could make
them without difficulty and that he entertains no doubt but that he could put
them up.
Being
asked in what time that machines for one mint could be completely put together
so as to commence the coinage of money, he replies that it could be done in
considerably less time than three months, and refers to a drawing of the
machines delivered in by the Mint Master and executed by Mr Aspinshaw, the
foreman of the mint, from which it appears that in three months one machine
complete might be put together and rooms built for the reception of it.
The
Mint Master being asked whether there are any persons in this country who are
acquainted with the mode of coining money in the European manner, he replies
that there are two under his department, Mr Aspinshaw the foreman of the mint,
and his assistant, Benjamin Hughes; that the former is at present dangerously
ill, but that the latter is now in attendance.
Benjamin
Hughes being called before the Board and asked if he was ever employed in any
of the mints in Europe, replies that he never was, but that he is acquainted
with the method of coining money, as practiced in Europe, having been employed
by Mr Binseh (Prinsep?) at Pultah in the late copper coinage, which was
performed with machines and according to the European method.
Being
asked whether he is acquainted with the mode of putting together the European
coining machines, he replies in the affirmative.
Being
asked whether he understands the mode of milling or graining money and whether
he could make the machines required for the purpose, he answers in the
affirmative to both questions.
Being
required to state whether he could cut the screws for the fly presses, he
replies that he could.
Ordered
that Lieut Golding be directed to proceed without delay to make such parts of
the machines and such of the implements as are of the most difficult
construction in order that there may remain no doubt of the practicability of
making the machines and apparatus for completing the recoinage of the silver in
the manner proposed.
Agreed
that the consideration of the subject of the coinage be resumed on Wednesday
next.
Bengal
Consultations. IOL P/3/51, 3 February 1790.p26
Letter
from Lieut William Golding to Calcutta dated
The
following letter was received on the 1st instant from Lieutenant
Golding, who was informed, in answer to it, that the Commander in Chief would
give the necessary orders to authorize his employing Lovel, the soldier whom he
mentions to belong to the 6th battalion.
I
do myself the honor to inform your Lordship that I arrived at Patna on Friday
morning, the 22nd instant.
As
Captain Garstin had bricks to make and every other material to provide, he had
not commenced building when I arrived, or fixed on a spot. We therefore
immediately examined the different buildings, the property of the Company, to
see if there were any that might, at little expense, be converted to the
purpose of a mint, but it does not appear to me that there is one, which would
not incur a greater expence of both time and money to alter it, than it will to
build a new house from the foundation. Captain Garstin has taken down part of a
building which appeared to be the most promising, but the masonry proved so
extremely bad, that we have relinquished the idea of raising upper rooms upon
it, and have fixed on a convenient spot in the square, which was formerly the
customs house, where we have begun the foundation for a new building, which
will very soon be completed, as all the materials are prepared.
I
beg leave to assure your Lordship that nothing unnecessary shall be done, and
that the strictest economy shall be observed.
I
am sorry to inform your Lordship that your apprehensions respecting the
laminating machine were but too well grounded. All that had been done previous
to my arrival was totally useless, but as much had not been done it is of no
great consequence. I have begun a new machine which will be ready before the
building is completed.
Since
my arrival, I have seen a soldier of the 6th Battalion whose name is
Lovell. From his conversation and what I have seen of his work, he appears to
be a man of extraordinary mechanical abilities. He was brought up, and worked
eighteen years, in Bolton’s Manufactury at Bermingham. I need not mention to
your Lordship how useful such a man would be in the present undertaking. He is
at present employed by Colonel McGowan in making models, which has prevented me
applying for him.
I
beg leave to return your Lordship thanks for your attention to my health which
is perfectly restored by the change of air.
Bengal
Consultations. IOL P/3/51, 5 February 1790, p45
Letter
from Mr Meyer to Calcutta, dated
I
beg leave to lay before your Lordship the translation of a petition presented
to me on the part of the artificers of the Honble Company’s mint, complaining
of certain malversations, which they represent to have been committed by a
person in the employ of the Mint Master, of the name of Durga Charan Mukherjee.
I forwarded a copy of this and another petition of the same import, to the Mint
Master, in the month of November, with a request that he would inquire into the
merits of them, which I apprehend he must have done by this time. I therefore
take the liberty to recommend that he be directed to submit his report to your
Lordship’s consideration with as lettle delay as possible.
Translation
of the petition of Ram Mohan Khosal, Gopi, Sital, Rabi Das Ram, Ganga Ram,
Susta Ram, Bhawani Charan, Ram Das, Ram Saran and Gaberden, Artificers of the
Honble Company’s mint.
We
beg leave to represent that at the time of Mr Paxton the Honble Company derived
a profit on the coinage of silver of ten annas, and on the gold coinage of four
annas, and at that period the wages of the artifers amounted to two hundred and
forty rupees.
Since
Mr Harres’s time the Company’s profit on the silver has been only six annas and
three pies, and on the gold, three pies, tho’ the real profit has remained the
same as before, as we can shew. Who appropriates the difference we know not.
At
present our wages are fixed at the monthly sum of sixty seven rupees, but out
of this sum, twenty five rupees are deducted every month on false pretences, by
which means we are reduced to want the common necessaries of life. Our only
object is the promotion of the interest of the Honble Company. We beg therefore
that Ram Mohan may be called before your Excellency and examined in this
subject. The real profit on the gold and silver coinage and the loss which the
Company sustains will then appear.
Ordered
that the Mint Master be written to, as Mr Meyer recommends in his letter above
recorded.
Bengal
Consultations. IOL P/3/51, 10 February 1790, p106
Letter
from the Mint Master to Calcutta dated
I
now enclose you copy of a bill presented for payment by the executor of John
Asphenshaw and Peter Spalding his surviving partner for sundry machines and
tools wanted for the new mints, amounting to SRs 3158.
The
above mentioned machines were valued by two pricipal workmen in Calcuttawhen Mr
Asppenshaw was about to admit a new partner and the whole have been viewed by
Lieutenant Golding, who thought the prices of the several articles reasonable.
I
am therefore to request you will make application to the Right Honble the
Governor General in Council for the amount.
This
was agreed
Letter
from Mr Meyer to Calcutta enclosing Harris’s reply to the petition of the
Artificers (p108), dated 6th February 1790 (Harris’s letter dated 3rd
February).
Basically
the Mint Master says the artificers are wrong
Bengal
Consultations. IOL P/3/51, 24 February 1790, p270
Letter
from Bombay concerning counterfeiting of gold mohurs and the impact of Broach
rupees on the Bombay currency.
Bengal
Consultations. IOL P/3/51, 12 March 1790, p438
List
of Mohurs and Rupees and their relative values at Murshidabad
Bengal
Consultations. IOL P/3/51, 19 March 1790, p577
Advocate
General’s opinion on what to do about the forged Mohurs at
Bengal
Consultations. IOL P/3/51, 31 March 1790, p near end of volume
Letter
from The Mint Master (Herbert Harris) to Calcutta dated
I
am to request that you will inform the Right Honble the Governor General in
Council that in consequence of Lieut Golding being sent to Patna to construct
the laminating mill for the mint, I wrote to Mr Pote to supply what money was
required for the payment of the work people and the several materials.
He
has in consequence written to me to desire I will apply to Government for an
order on Mr Seton, the collector, to be reimbursed the money he has advanced to
the amount of sicca rupees four thousand. On Lieutanent Golding’s departure
from Patna, he left the mint in charge of Mr Robert Blake and I have to request
a guard of sepoys may be appointed there for the security of the stores that
have been sent up and are since arrived.
Ordered
that the Board of Revenue be desired to direct the Collector of [Gayah] to
reimburse Mr Pote what he has advanced for the payment of the work people &
for supplying the several materials required for constructing the laminating
mill at Patna.
Ordered
that the last paragraph of the Mint Master’s letter be communicated to the
Commander in Chief.
Bengal
Consultations. IOL P/3/,
Bengal
Consultations. IOL P/3/52, 5 May 1790, p487
Letter
from the Mint Master, Herbert Harris, to Calcutta, dated
I
am to request you will acquaint the Right Honble the Governor in Council that
the mint at Dacca will require an upper roomed House of which one of the rooms
both below and above may form a square of 22 feet for the mill to work and two
rooms adjoining for the milling machine and adjusting room.
That
it should be so situated as to admit of stores etc being brought to it by an
easy carriage, and the compound to the house should be commodious as sheds
erected on brick pillars and tiled will be necessary for the refiners.
The
general run of go-downs about a house may be easily converted to the purposes
of an assay office, melting office and bullion office for the receipt of
monies, and redelivery when coined.
An
order to the Collector for an advance of two or three thousand rupees will be
required for making these additions and alterations which can be immediately
set about, and when the length of the spindles for the mill are fixed, the plan
for altering and [replaining] the beams of the house can be set up.
The
compound should be well enclosed to be secure against thieves.
In
the instructions to the Collector the above is all that I deem necessary as Mr
Davidson, who is returning to Dacca, will, from what he has seen here, be able
to judge of the conveniency of the place the Collector may point out.
Ordered
that a copy of this letter be sent to the Board of Revenue with instructions to
order an advance to be made not exceeding three thousand rupees by the
Collector at Dacca to the order of the Mint Master for the purpose stated, and
to desire Mr Douglas to afford any assistance in his power to Mr Davidson in
procuring a place proper for the mint, and, if none should be found, to give
him such assistance as may be required for constructing one.
Bengal
Consultations. IOL P/3/52, 14 May 1790, p592
Letter
from the Board of Revenue to Calcutta, dated
Confirm
that the orders have been given for the advance of money for the Dacca mint
Bengal
Consultations. IOL P/3/52, 28 May 1790, p747
Letter
from the Mint Master, Herbert Harris, to Calcutta, dated
I
have to request you will lay before the Right Honble the Governor General in
Council the accompanying schedules of the machinery and work done in the mint
since the determination of his Lordship to strike the new coin after the mode
practiced in England. In addition to this we have in many instances had the
tools to make before we could begin the work.
The
present pay of the die cutters in the mint is sicca rupees 185 per month but to
perform the cutting as neat as they can do it, two other men whose wages amount
to sicca rupees 120 per month are required for this mint alone, and two men for
each of the other mints. This will increase the establishment to full 500
rupees per month. Mr Spalding who has been bred to the dye sinking business has
offered to cut the dyes for all the mints and employ and pay the workmen for
sicca rupees 500 per month, including his own wages, and I beg leave to
recommend that his offer be accepted as it will save the Company the amount of
his wages and we shall be always certain of having the dyes accurately cut, and
the same for every mint.
Lieutenant
Humphreys having informed me of an opportunity of supplying the mint with some
very valuable tools, particularly in the dye sinking business, I have to
request I may be permitted to purchase them for the use of the mints. The sum
will not exceed sicca rupees 700.
The
movement of the great wheel of the mill not being sufficiently quick to roll
out the quantity of god and silver we shall require, and finding if I began to
coin immediately, I should in a few days be obliged to stop the business to add
another pair of rollers, I have with the approbation of Lieutenant Golding, who
constructed the mill, prepared the frame of another set of rollers in such a
manner as to fit them on the spindle of the present, by which means, the wheel
being very powerful, can turn both, and we shall have separate rollers for the
gold and silver or apply bothe to the silver as occasion may require.
As
soon as the new rollers are fixed, we shall begin to train the people in the
several occupations of flattening, cutting, filing, adjusting, milling and
striking in copper, till we get them expert enough at the business to commence
the new coinage.
A
large horizontal cog wheel turning two vertical one[s] for working the flatting
mill
A
fly press for striking the gold mohurs
A
fly press nearly finished for striking rupees
Fitting
up the fly press for the small gold coin
A
cutting machine with table complete for the gold mohurs
A
cutting machine ditto for half mohurs
A
cutting machine for the small gold coin nearly finished
A
cutting machine for the rupees with table complete
Fitting
up an Europe press for leveling the planchets
A
complete set of iron ingots moulds for the gold mohurs
A
complete set of ditto for the half ditto
Three
complete sets of ditto for the small coin
12
ingots moulds being part of what is required for the rupees
2
large tables for adjusting the planchets with 12 concavities for holding them
and 12 brass standard for suspending the scales with pullies and balances
Altering
a large two centre lathe ro be used occasionally as a collar
[Mandrill
one for cutter etc]
Turning
of cutters for cutting the planchets
Making
of dyes in part of what is wanted
Making
a drilling machine for the ingot moulds
Making
lathe chucks for holding dyes and cutters
Altering
a common iron flattening mill frame to be worked with [logs] for coining nearly
finished
Tools
finished and in hand for the other mints
Sent
to
The
whole ironwork of a flatting mill complete
A
large lathe with an assortment of tools etc
2
cutting machines made complete for cutting planchets
Chucks
for holding the cutter
In
hand
Three
cutting machines
Two
frames for leveling the planchets
Letter
from Herbert Harris, Mint Master, to Calcutta, dated
I
have to request you will lay the accompanying letter from Mr Spalding to me
before the Right Honble the Governor General in Council. The discovery he has
hit on is a mode of working in the letters on the dies in such a manner as they
shall not deviate in the smallest degree from the original. By which means
every impression will be perfectly exact.
The
salary he requires of 500 rupees per month is, I think, not more than adequate
to the labour he performs. Indeed the willingness both he and Mr Hughes shews
to perfect the several parts of the business merit my warmest praise. The
agreement made with Mr Hughes has I believe never been recorded. It was to pay
him a monthly allowance of sicca rupees 200 per month and a gratuity at the end
of the year of 100 sicca rupees per month in addition, on his producing a
certificate signed by the Mint Master of his having deserved such
encouragement.
Lieutenant
Golding has procured from one of the Jewellers, a sett of rollers which require
only a substantial frame of iron to be rendered serviceable. Their diameters
are not so great as those we have, but they may be worked with other rollers to
advantage.
Letter
from Mr Spalding to Herbert Harris, dated
Since
I wrote you last on the subject of dye sinking, I have made an improvement in
the business which will enable me to do as much in an hour as I would before in
three days. Some men would keep this improvement a secret but on the contrary I
make it my boast, being convinced no advantage will be taken of my candour.
In
consequence of this improvement, I beg leave to make some alteration in my proposal
for salary. In my last letter I mentioned I would require natives to assist me.
Now I want none, tho’ I must recommend the Company keeping and paying a native
who I will instruct in the business, with the motive of providing against my
indisposition.
In
my last I mentioned I would engage to sink dyes for all the mints. At the time
I wrote my letter, I was not aware of the probability of copper coin being
wanted, and consequently an additional number of dyes required. But with or
without the additional trouble of making dyes for the copper coinage, I
consider I merit sicca rupees 500 per month as coiner and dye sinker and having
found a method much more accurate than that of copying the dyes by hand, a
method (mine is) which must preclude the possibility of the natives forging the
dye.
And
it ought to be considered the improvement I have made, instead of being any
additional expense to the Company, is a saving, as I don’t ask so much as
coiner and dye sinker as it would cost the Company for dye sinkers only,
supposing the natives capable of sinking the dyes in the manner they are
wanted, which however they are not.
My
not being settled retards the business as I cannot go on with that spirit I
otherwise would
Agreed
that a salary of sicca rupees 500 per mensum be allowed to Mr Spalding and a
salary of sicca rupees 200 per mensum to Mr Hughes from the 1st of
this month.
It
is further agreed that an additional allowance of 100 sicca rupees per month
shall be made to Mr Hughes on his producing at the end of the year a certicate
from the Mint Master of his having paid proper attention to his business in the
mint.
Agreed
that the Mint Master be instructed to enquire for a native who will be a proper
person to be employed under Mr Spalding, and that Mr Spalding be required to
enter into an agreement that he will teach him every part of the dye sinking
business concealing nothing from him that he thinks will be at all useful in
accomplishing or perfecting the business with dispatch.
Ordered
that authority be given to the Mint Master to purchase the tools he mentions
for the sums specified and to pay for the rollers procured by Lieutenant
Golding.
Bengal
Consultations. IOL P/3/53, 25 June 1790, p278
Letter
from Herbert Harris to Calcutta
I
have received your letter of yesterday desiring I will inform Government when
the new coinage will commence and what is the cause of the delay.
When
the first rollers were put up in order to try the mill, we found them very defective
in many places and discovered that one pair was not sufficient to roll out the
quantity of metal wanted, but as we every day expected new ones from Mr
Golding, I had hopes the machine would soon be completed, as we had contrived
the means of adding (with the concurrence of that gentleman) another pair of
rollers of a different size to be turned by the spindle of the machine. To fit
these we were obliged to make a new frame and cogs, also the necessary rack
work for adjusting the rollers. As the nice parts of this could only be
accomplished by Mr Highes, the business proceeded slow.
When
Mr Golding gave us notice of his having failed in the tempering of his rollers,
it was necessary to consider how we could carry on the business with the
present rollers, and it was judged expedient to construct a polishing machine,
drawings of which we had from England, for to repair and keep the rollers in
order. This machine is absolutley necessary were the rollers ever so good as
they grow rough from the silver passing through them and require polishing
every three or four months.
Mr
Hughes is now wmployed making this machine and he declares it will now take him
20 days to finish it. He has also forge a pair of rollers, one of which is now
turning in the lathe and has every appearance of being perfect, and I hope in a
few days to be able to acquaint his Lordship that we have succeeded in
tempering it.
A
large stock of dyes was also necessary to be prepared before the coinage could
be begun as the steel is very apt to fly from the pressure of the stroke.
Mr
Spalding has pointed out to me a native who was bred up under Mr Aspenshaw in
the Pulta mint and has obtained some knowledge of dye sinking, and is a very
correct and ingenious workman. This man is at present in the employ of Mr
Howatt, the coachmaker, as a painter, but as many of this trade are to be got
in Calcutta, I see no hardship Mr Howatt gibving him up, as the man wishes to
work under Mr Spalding who assures me with the assistance of this man he shall
be ready to commence the gold coinage in one month from this date.
Bengal
Consultations. IOL P/3/53, 21 July 1790, p614
Letter
from Herbert Harris to Calcutta, dated
I
am to request you will acquaint the Governor General in Council that I shall be
ready to commence the coinage of gold after the Europe manner after the first
of next month, and desire you will inform me whether the suspension laid on the
coinage of gold bullion the 3rd September 1788 is to be taken off.
Ordered
the following advertisement be published in the Gazette in the English and
country language
The
Governor General in Council has directed notice to be given that his Lordship
has been pleased to revoke the order that was passed on the 3rd
December 1788 for suspending the coinage
of gold mohurs at the mint, and that from and after the 1st of next
month, August, gold bullion will be received there for that purpose and coined
without charge to individuals.
It
is further hereby noticed that from and after the 1st of next month,
new milled gold money will be issued of the former weight and standard, and the
gold now extant of the Calcutta coinage will be recoined on application that
the mint, into gold mohurs of the new coinage, also into small monay, that is
halves and quarters, for the convenience of individuals, without any expense to
them, and weight will be delivered for weight.
The
new gold coin will be received by the Collectors of the revenue and other
officers of Government in payment of the demands of the Company
Bengal
Consultations. IOL P/3/53, 30 July 1790, p675
Letter
from Herbert Harris to Calcutta dated
The
enclosed letter from Mr Davidson, the Assay Master at Dacca will show the
forwardness of the new mint. The monay advanced by the Collector being all expended
but 200 rupees, I have to request you will apply to the Governor General in
Council for a further advance of Rs2000, to be made to my order by the
Collector.
The
laminating machine, Mr Golding informs me, will be ready to send away the
beginning of the week, and the wheelwright will accompany it and complete that
part of the wheelwork which can only be done on the spot
Letter
from Davidson to Harris dated 24th July
I
made choice, as I formerly acquainted you, with the approbation of Mr Douglas,
of a piece of ground adjoining to his treasury and Cutcherry house in the fort
of Dacca, and which I enclosed with a wall nearly eleven feet high, in length
about 240 and in breadth about 200 feet. The area of this space, I conceive,
will be sufficient for all the places that may be wanted for the mint.
The
two principal houses of the dimensions required, will be covered in tomorrow,
and by the 7th or 8th next month, the upper and lower
rooms will be plastered, white washed and ready for erecting the mills and the
different machinery.
Mr
Douglas paid the money ordered by the Board of Revenue, being three thousand
sicca rupees, which will all be expended in a few days as you’ll see by the
accompanying account detailed to the 22nd instant. As far as receipt
could be taken for expenditure, I have done it, but for many of the small
articles of expense, it was impossible. The remaining places that will be
wanted are: one for keeping and reckoning the money in; one for assaying; one
for refining; one for melting; one for weighing and filing it, besides a place
for the working machanics. All these can be erected at little expense against
the wall enclosing the ground, except the first which must be a place of some
strength and security. Glass will be wanted for the windows in the cutting and
stamping rooms, and must be sent from Calcutta.
Mr
Hughes, whom you proposed to be the working and superintending mechanic at the
Dacca mint, may be sent up as soon as possible to erect the mills and fix the
stamping presses etc, and along with him all the necessary articles you can
furnish from the Calcutta mint or procure in Calcutta, as most of them Viz
Iron, Lead etc are very dear here. You will be so obliging as to make
application to Lord Cornwallis for more monay to be paid lere, and to let me
know if you wish for any particular dimension for any of the remaining places
that are to be built. The great article of expense as you will see in the
account, is chunam, for which formerly at Dacca, the price never exceeded 40
rupees per 100 maund. I was obliged to stop the works for some days as none
could be got in Dacca, but I have engaged for 800 maunds deliverable by
tomomorrow or next day at 70 rupees per 100 maund.
Agreed
that the Rs2000 be advanced
Bengal
Consultations. IOL P/3/54, 1 September 1790, p245
Letter
from Herbert Harris (Mint Master) to Calcutta, dated
I
request you will inform his Lordship I have begun the coinage of gold mohurs
after the Europe manner, that some delay has been occasioned by circumstances
which we could not forsee. The proof impression of the dyes on copper were very
neat and the round of the coin well preserved, but when we came to give the
impression to the gold, which is very fine and soft, the boldness of the
letters occasioned the coin to spread out of the circle on receiving the stroke
from the stamping machine, and it became necessary to alter the dyes so as to
make the relief on the coin less prominent.
We
had no sooner got the dyes ready and were going to work than we found the house
had sunk from the very heavy rains and were obliged to take down the laminating
machine and lower it so as to make it work again. As none of the walls of the
house are cracked I conclude the sink of the foundations has been pretty equal
and I hope it has not endangered the building.
I
also beg leave to submit it to his Lordship in Council from the circumstances
of a new coinage taking place that the balance due the mint be paid up, as it
will make the people work with more spirit and willingness and keep those in
good humour whose services must be dispensed with from the decrease of
establishment.
The
loss on remelting and reforming the planchets has been made good to the several
proprietors in silver, as also the establishment, no small gold having been
coined from that period. It is therefore necessary that I be repaid that silver
from the treasury or that my order on the treasury be transferred as so much
silver, and in future I have to request this deficiency of remelting etc may be
paid me monthly in gold or silver from the treasury to make up to the
proprietors of bullion the sum they pay in sicca standard, weight for weight.
I
shall also require a sum equal to half a melting of gold (500 sicca weight) to keep
in the mint to melt down with the sizzel that remains after cutting out the
blanks for I find in the mint at London the moneyers deliver 7/12th
in coin and 5/12th in sizzel and considering that our coin is finer
and out machines not quite so correct that we shall have a greater proportion
of light blanks than they can have, and therefore the putting it at 1/12th
more is as near as we may be supposed to come when the workmen are sufficiently
practiced in the business.
I
shall have everything ready to begin the coinage of silver the 10th
of September, and I beg leave to suggest that when the advertisement is issued,
some punishment be held out against persons detected in marking the edges or
putting private marks on the coin, and that the commercial residents be forbid
to mark the coin (a common practice at some aurungs before it is issued to the
weavers).
Ordered
that the following advertisement be published in tomorrow’s gazette
Notice
is hereby given that the new milled silver coin will be issued from the
Honourable Company’s mint from and after the 10th instant in payment
of the produce of all silver bullion sent to be coined.
The
shroffs, money-changers etc are positively forbidden to deface, cut or clip the
edges of the new coin or to put any private mark thereon. They are also
prohibited from exacting any batta on the old nineteen sun sicca under pain in
either case of incurring such punishment as the Governor General in Council may
think proper to inflict.
Ordered
that the Superintendent of Police be furnished with a copy of this
advertisement and directed to notify the same by beat of tom tom thro’ the
bazars in Calcutta.
Ordered
that the balance due to the Mint Master to the end of July be paid and that he
be allowed to pass the treasury orders in his favour to that time in his
account with the treasury but that this indulgence is only granted in
consequence of the new coinage.
Ordered
that the Mint Master be directed to make out statements at the end of each
month, exhibiting the amount to be paid from the treasury to each of the
proprietors of gold and silver bullion for the loss in remelting and forming
the planchets and the amount of 500 sicca weight in gold be issued to him from
the treasury to melt with the sizzel of the gold whenever the same may be
required
Bengal
Consultations. IOL P/3/54, 22 September 1790, p583
Letter
from Herbert Harris (Mint Master) to Calcutta, dated
Replying
to a request to consider the relative value of gold to silver, currently 14.9:1
at Calcutta. He considers this is OK
Bengal
Consultations. IOL P/3/54, 1 October 1790, p653
Letter
from Herbert Harris (Mint Master) to Calcutta, dated
The
Governor General lays before the Board an establishment proposed to him by the
Mint Masetr as necessary for the Assay and Mint Offices at Dacca &
|
|
|
|
|
|
|
Assay
Office |
A native
assay master with two men to attend the furnaces & one to make coppells |
100 |
|
|
|
Bullion
Office |
A head Banian
with Moherers and Circars to attend the several offices |
300 |
|
|
|
|
A head
weighman for receiving all bullion and weighing out the silver to the
refiners & melters & to the plunchet office & receiving &
issuing the same |
80 |
|
|
|
|
His assistant |
40 |
|
|
|
|
Papers,
ink etc |
7 |
40 |
|
|
|
A native
writer to copy accounts |
50 |
|
|
|
Melting
Office |
A head
melter with 10 assistants & 2 Nearahs |
100 |
|
|
|
Plunchet
Office |
10 setts of
Durops or people who cut the blanks, form and adjust them |
400 |
|
|
|
Stamping
Office |
2 men to
hold the dye |
45 |
|
|
|
|
4 ditto to
strike |
36 |
8 |
|
|
Engraver’s
Office |
1 dye
cutter |
60 |
|
|
|
|
1 ditto |
40 |
|
|
|
Smith’s
shop |
4 smiths
to make & temper the stamps and cut the refined silver |
23 |
|
|
|
Servants |
1 Jemaldar
& four peons |
24 |
|
|
|
|
1 Durwan
or porter |
4 |
|
|
|
|
Sweeper |
3 |
8 |
|
|
|
|
|
|
|
|
Total |
|
1313 |
10 |
|
Refiners may be
procured at Dacca who work by the day
The same
establishment will be required at
Agreed that the
establishment furnished by the Mint Master for conducting the coinage at Dacca
and Patna be confirmed for each, and that Mr George Davidson be appointed Assay
Master at Dacca Mr Robert Blake Assay Master [at Patna] with a salary to each
of sicca rupees 300 per mensum
Ordered that the
sum of two thousand sicca rupees be paid to Mr Blake as a gratuity for the
trouble he has already had in respect to the mint at Patna and that one
thousand sicca rupees be paid to Mr Davidson for the trouble he has had in
respect to the mint at Dacca.
Ordered that the
mints at Dacca and Patna be opened as soon as possible for the coinage of 19
sun sicca rupees in the old form, and that the Mint Master be ordered to
commence the old mode of coinage again at the Presidency, continuing it until
there is a certainty of carrying on the business of the coinage by the new mode
to its full extent, so that no interuption or unnecessary delay may take place,
to the injury of the merchants and shroffs, and that a free importation of
bullion may not be prevented.
Agreed that the
Mint Master be ordered to send away to Dacca & Patna such people, mint
implements and stores as may be required.
Ordered that the
gold bullion be coined with Europe machines and that the mill which has been
sent to Dacca be returned, as the Mint Master has represented to the Governor
General that another laminating mill will be necessary at the Presidency to
enable him to coin both gold and silver in sufficient quantities at the same
time
Bengal
Consultations. IOL P/3/54, 20 October 1790, p 750
Letter
from Herbert Harris, Mint Master, to Calcutta dated
I
beg you will make application to the Governor General in Council for an order
on the Collector of Dacca for the sum of sicca rupees two thousand to be
advanced Mr George Davidson, Assay Master, for the finishing the mint there, and a like sum to be advanced by one
of the Collectors in Beyhar to Mr Robert Blake, Assay Master at Patna, for to
get the mint at that place ready for the coining of rupees in the old manner.
I
have also to request an order to the import warehousekeeper to supply me with
500 maunds of sheet lead for the refining of silver at the Dacca mint.
Letter
from Robert Blake to Calcutta dated
I
have received your letter acquainting me of my appointment to the office of
Assay Master to the mint at Patna. I beg that you will signify to the Governor General
my grateful thanks for the favour conferred upon me, that I will pay every
attention in my power to the duty of my office to render myself deserving.
Bengal
Consultations. IOL P/3/54,
Can’t
find anything
Bengal
Consultations. IOL P/3/54, 27 October 1790, p801
Letter
from Herbert Harris to Calcutta dated
Submits
expenses of the new mint for May June and July, and also other bills.
Letter
from the Company’s Attorney (William Jackson) to Calcutta, dated 23rd
October
It
appears that Mr Spalding has got himself into debt with one Nyachund Dutt and
can’t (or won’t) pay. The Compnay will pay it and reclaim the money from Mr
Spalding
Bengal
Consultations. IOL P/3/,
Bengal
Consultations. IOL P/2/55, 1 December 1790, p273
Minute
Ordered
that the following advertisement be published in the Gazette
Notice
is hereby given that all gold and silver bullion that individuals may be
inclined to deliver at the mint or treasury, under a declaration from the Mint
Master that it is of proper standard, will be reissued and weight for weight
will be returned to them in the current gold and silver of Calcutta
Bengal
Consultations. P/4/1, 4 February 1791, p354
Letter from Mr
Hughes to Calcutta, dated
I take the liberty
of troubling you with my certificate from the Mint Master agreeable to the
resolution passed by the Governor General in Council on the 28th May
1790. I hope Government will favor me with the amount being sicca rupees twelve
hundred.
Letter from Herbert
Harris to Mr Hughes, no date
This is to certify
that Mr Hughes has worked in the mint from the 15th October 1789 to
the 15th October 1790 during which period he has been very careful
and attentive to his business and fully merits the indulgence promised by
Government of a gratuity of Sa Rs 100 p mo in addition to his pay.
Bengal
Consultations. P/4/1, 16 February 1791, p520
Letter from
Herbert Harris to Calcutta, dated
I am to request
you will acquaint the Honble the Governor General in Council that I have tried
the new method proposed by Mr Spalding of preparing the blanks by striking them
with a hammer to the proper size for milling, and tho’ this method required a
great many people yet it is preferable in many respects to the laminating mill
and approaches very near to the method practised by the natives.
I think it will
require about double the number of duraps (or people who form the blanks) that
the common Bengal way required.
At present the
people work with a very ill will from not receiving their wages regularly. When
I offered the wages for October to them it was refused as they said one months
pay would not enable them to dsicharge what they had borrowed to subsist on,
and they represented their having been paid monthly for 30 years past, and that
it has ever been the custom for those who make monay to be paid in advance.
I was therefore
under the necessity of letting the business stop, or giving them two months
wages. I accordingly advanced them another month, and they have since worked
with more spirit, and I hope the Honble Board will permit me to pay up their
wages regularly as it will much facilitate the business.
Finding the
courage may be carried on in this new manner, I have now to inform the Honble
Board of the buildings immediately wanted, for as yet I have made use of the
temporary [matted?] houses and the old stables for refining, the roof of which
I was obliged to take off in Novemeber last to prevent its falling.
These stable I propose
to pull down, and build a refining house on the pillars with a pitched roof and
Tyled, of about 50 feet long and twenty five broad, also one godown of about
140 feet long and 12 broad for the planchet office.
An assay office of
about 30 feet long and 17 broad is absolutely necessary with upper rooms for
the assay scales. In the old fort [there] was a house built for the Assay
Master to live in, and since that was pulled down I have been obliged to
appropriate a room in my own house for an office, as no lower room is
sufficiently dry to keep the assay balances which are very nice, from being
affected with the air. A new wall will also be required towards the river.
Bengal
Consultations. IOL P/4/2, 6 April 1791, p365
Letter from the
Mint Master (Herbert Harris) to Calcutta Dated
Mint output for
the week 22nd to 26th March 1791 showing a list of the
people who had submitted bullion. The output for the week was Rs 2000 of gold
and Rs 120,000 of silver.
Letter from the
Mint Master to Calcutta dated
The following
letter was received from the Mint Master on the 2nd instant and he
was desired on the 4th to report what amount of rent was desired for
the house therein mentioned as suitable for an assay office.
I am to request
you will inform the Honble the Governor General and Council that I am using as
much dispatch as possible in the coinage. That from 23rd March to 2nd
April I have paid in Sa Rs 260,000 to the treasury.
The necessity of
having a refining shed erected on pillars and tyled becomes every day more
apparent, as the strong rays of the sun are almost as effectual as the rains
when the process is carried on in the open air in extinguishing the fire and to
attempt it in a godown would be sacrificing the lives of the people from the
noxious fumes of the lead.
The house next to
the mint is at present empty, and to it is a range of go-downs similar to what
I have, to which a communication might be made by nocking (sic) out a door, and
there is room also sufficient for the assay office, and the mint might with the
accomodations of this house be made very convenient, and it will be a further
circumstance of facilitation to the business of the mint that I may be always
at hand. Since the pulling down the mint buildings in the old fort I have been
obliged to allot a room in my own house (altho a very small one and that I am
not allowed house rent) to the purpose of an assay office, the business of
which is very nice and requires privacy, security of interruption of any kind,
and to be particularly guarded from intemperate weather.
Bengal
Consultations. IOL P/4/2, 8 April 1791, p395
Letter from the
Mint Master to Calcutta dated
In consequence of
your letter of the 4th, I waited on Mr Fairlie who has the renting
of the house adjoining to the mint, and he asks Sa Rs 400 per month for the
house with the godowns or warehouses, & for the house without the godowns
Sa Rs 200 per month.
Agreed that a sum
not exceeding sicca rupees 200 per month be allowed to be charged by the Mint
Master for the house with the godowns or warehouses mentioned in his letter and
that he be informed accordingly.
Bengal
Consultations. IOL P/4/3, 6th May 1791, p121
Letter from
Herbert Harris (Mint Master) to Calcutta, dated
Question: Supposing
the whole mint establishment solely employed in coining silver. What numer of
rupees could be coined daily?
Answer: The rupees
at present are made in the old way, and are struck with the fly presses instead
of the hammer, which alone is a great improvement; and in this manner I can
coin twenty thousand rupees per day.
Q: Supposing the
whole mint establishment solely employed in coining gold. What number of mohurs
could be coined daily?
A: The gold being
coined after the European manner it would take some time to perfect the people
in filing and adjusting the planchets, and I think five thousand gold mohurs
per day would be as much as I could perform. In cutting out the planchets, or
milling the edges, there is no difficulty.
Q: Supposing the
whole mint establishment employed in coining partly gold and partly silver,
what number of mohurs and rupees could be coined daily?
A: I now coin
about 18 or 19,000 rupees per day in silver, and 500 gold mohurs. The
proportion of silver to gold coined is as 4 to 1
Q: Supposing the
Mint Master be authorised to entertain as many additional people as could be
employed. In what number of days could the balance of 30th April be
coined?
A: With respect to
coining up the balance of 30th April, I have now as many people at
work as I have places prepared, and therefore an additonal number would be of
no immediate service. I shall by the end of the month have very little balance.
The above replies
suppose the gold and silver refined and assayed and no delays to take place on
that account, also that a quantity pof gold is always ready to add to the sizel
for the next melting, for as 5/12th sizel always remain, the whole
can never be worked up.
p384. Letter from
Herbert Harris (Mint Master) to Calcutta, dated
I have to inform
you that the Dacca mint is ready as far as respects the buildings and should
the Honble the Governor General in Council chose to have it opened with the new
collections, I will immediately send away Mr Hughes who can now be spared from
the business of this mint to put up the fly presses for striking. One is ready
there, and another I can make and have ready to send up in a month.
The workmen I will
also collect so as to be ready to send off the first of next month.
With respect to the
Patna mint, it has sufficient building for carrying on the recoinage, tho’ I
fear the upper story of the house built by Captain Garstin will be of no use.
The foundation has sunk and the walls opened so as to render it dangerous but
the under story can be serviceable if the upper is taken down.
The fly presses we
had made for the Patna mint we have taken for the Calcutta and shall as soon as
the new press is finished for the Dacca mint put two in hand for the Patna,
which I shall be able to finish before the collections in that province begin.
Agreed that the
mint at Dacca, which is reported by the Mint Master to be ready as far as
buildings, be opened with the collections of the new year from that country.
That the Mint Master be authorized to send Mr Hughes to Dacca for the purpose
he mentions to be employed under the orders of the Assay Master, Mr Davidson.
Also that the Mint Master be directed to provide those workmen etc who cannot
be provided at Dacca for the business of the mint, to be sent from hence
without delay.
Agreed that the
Board of Revenue be informed that a mint will be opened at Dacca for the
purpose of recoining the money received in the collections of Dacca into sicca
rupees of the 19 sun, and that they be directed to give orders to the
collectors of Dacca, [Momensing?], Tipperah and Chittagong to send all rupees
to the Dacca mint (except sicca) to be recoined.
With respect to
the mint at Patna. Agreed that the Mint Master be instructed to write to Mr
Blake, the Assay Master, to make a report for the Board’s information relative
to the buildings erected by Captain Garstin, and that the Mint Master be
ordered to constructthe fly presses required for the mint at Patna without
delay.
There is then a
report on the output of the mint for the week 23rd to 28th
May – 937:8 gold; 135,000 silver
p395. An
advertisement to be issued about tendering gold or silver to the mint and
receiving an assay certificate
Bengal
Consultations. IOL P/4/4, 6th July 1791, p98
Letter from Board
of Revenue to Calcutta, dated
I am directed by
the Board of Revenue to transmit you the accompanying copy of a letter from the
Collector of Chittagong, relative to the remittance of rupees to the Dacca mint
and to request you will lay the same before the Governor General in Council for
his orders
Letter from the
Collector at Islamabad (Chittagong) to Revenue Board Calcutta, dated
I am favored with
the receipt of your accomptants letter of the 7th instant, directing
me agreeable to your orders to send all rupees excepting siccas to the Dacca
mint for the purpose of being coined into siccas of the 19th sun.
I beg leave to
observe that the siccas in this province are so very inconsiderable (and even
these can scarcely be said to be in circulation, not being the currency of the
province) that if, those excepted, the whole of the revenues be sent to Dacca
to be recoined, the remaining resource of the treasury will not be nearly
sufficient to defray even the demands of the Collectors office, independent of
the bills that may be drawn in favor of the salt agent, commercial resident and
paymaster general.
Again should the
plan enjoined by the Governor General be carried into effect without some
previous regulations whereby the issues of species may flow back into the
province when recoined into siccas, it would render cash so excessively scarce
as would be attendant with very fatal consequences to the province at large,
but more especially to the lower class of people when reduced to have recourse
to loans to enable them to pay their revenues.
There appears then
only two modes by which these evils may be obviated. The one, by remitting only
the surplus of the treasury after defraying the usual demands, which will
however tend to check rather than promote the plan so desirable of establishing
only one general currency throughout the provinces. The other which I deem by
far the most eligible mode, that of returning a similar amount from Dacca in
sicca specie immediately to the province, in lieu of what may issue from it in
the shape of dassmassa rupees. For if this plan be not adopted in a place so
confined in point of trade as this is, where the amount [of] revenues is nearly
equal to one third of all the coin in circulation, it follows that in about
three years the province must be entirely drained of the little specie that is
now in circulation in the district.
The Board upon due
consideration of the letter from the Collector of Chittagong give preferance to
the second of the two expedients he recommends to obviate the inconveniences
stated in it, viz that on his remitting to the Dacca mint all rupees except
siccas to be coined into siccas of the 19th sun, an amount be
immediately returned from Dacca in the sicca specie, equal to the value of that
remitted from Chittagong in dasmass, but it will be necessary that previous to
the remittance from Chittagong the Collector shouldascertain from the Mint
Master at Dacca that he is ready to coin these rupees into siccas.
Ordered that
information be sent accordingly to the Board of Revenue as well as to the Mint
Master for the guidance of his assistant at Dacca.
Bengal
Consultations. IOL P/4/4, 20th July 1791, p441
Letter from the
Mint Master (Herbert Harris) to Calcutta, dated
I have received
the resolution of the Governor General in Council on the copy of the letter
addressed by the Collector of Chittagong to the Board of Revenue and have in
consequence written to the Assay Master of the Dacca Mint to signify to the
Collector of Chittagong the time he shall be ready to receive money to coin.
I have to request
the Governor General in Council will issue an order to the Collector of Dacca
for to supply Mr Davidson, the assay Master, with the sum of sicca rupees two
thousand for the advance to the people he may have to engage for the service of
the mint as well as for the pay of the carpenters and smiths in putting up the
fly presses and also that a guard may be appointed for to protect the mint at
Dacca.
Agreed that orders
be given in compliance with the requests made in the last paragraph of the
above letter from the Mint Master.
Extract of a
letter from the Honble Court of Directors to the Governor General in Council in
the Revenue Department under date
In the 86th
paragraph of our letter in the Public Department of the 28th April
last, we gave our decided opinion on the utility of a general new coinage of
all the circulating silver of the country into rupees of the same standard and
denomination. We have since perused with great attention Mr Shore’s minute of
the 23rd October 1789 upon this important subject. When you shall
have reported to us the measures you have taken in consequence of Mr Shore’s
minute, we shall give you our further opinion thereon.
Bengal
Consultations. IOL P/4/4, 29th July 1791, p550
Letter from the
Board of Revenue to Calcutta dated
I am directed by
the Board of Revenue to acknowledge the receipt of a letter form Mr
sub-secretary Chauvil of the 20th instant, relative to the mint at
Dacca, and to request you will inform the Governor General in Council the
necessary orders have been issued.
Bengal
Consultations. IOL P/4/6, 18th November 1791, p610
Advertisement
Ordered that the
following advertisement be published in the Gazette
Whereas various
applications have of late been made to the Superintendant of the Police by
individuals (in consequence of the difficulty which they experience in
procuring silver coin) to compel the shroffs to furnish silver in exchange for
gold coin, and to punish them if they attempt in this exchange to value the
gold mohur at less than what appears to have been its former market price, viz
one Arcot and fifteen sicca rupees, and whereas corcive measures, instead of
alleviating, have a necessary tendency to encrease the difficulty complained
of, the Governor General in Council has therefore determined that in future the
sale of gold and silver coin shall be as free and unrestrained, in every
respect, as the sale of gold and silver bullion, and that the gold coin which
shall be offered for sale in exchange for silver, or the silver coin which
ahall be offered in exchage for gold, shall be considered, in effect, as
bullion, and the exchangeable value, or price, of each determined by the course
of trade in the same manner as the price of every other commodity that comes
into the market.
Letter from Mr
Davidson (assay Master at Dacca) to Collector of Dacca, dated
In these last two months
several disbursements have been made upon account of the mint, in additional
buildings, accomodations for the working people, in various articles of daily
expense, and in wages. I am very considerably in advance being obliged to pay
the establishment once the 13th August (the day the chief part of
the working hands embarked from Calcutta) to the end of September, and some
part of them were only paid in the Calcutta mint on the 31st July,
& you was pleased to inform me that no wages exceeding six rupees monthly,
could be paid by you, agreeable to the existing orders of Government. I must
request you will submit to the Board of Revenue, the necessity of the mint
stablishment being paid. The people will not work without their wages monthly,
and if they did would only attempt to steal a subsistance by some means or
other. My monthly and contingent bills must likewise, I conceive, be paid from
your treasury, but respecting them I have addressed the Mint Master of Calcutta
& expect his reply daily.
Agreed that the
Collector of Dacca be authorized to comply with Mr Davidson’s application as
far as the latter may declare the same to be indispensibly necessary to enable
him to go on with the business of the mint.
The following
letter and its enclosure were received from the Mint Master on 31st
ultimo, and the resolutions which will be entered after them, have been passed
thereupon
Letter from the
Mint Master to Calcutta dated
I have now to
desire you will lay before the Honble the Governor General in Council the
accompanying account of expenses incurred in building the mint at Dacca by Mr
Davidson the Assay Master. Balance due to him Ars 758:14:2 the 31st
July, since which he has found it necessary to add a veranda, a shed for
cleaning the blanks and a godown for the refiners to keep their dross etc, with
a small apartment for Mr Hughes.
The business of
the mint at Dacca would certainly go on much better were the working people to
be paid up, for the people I send from hence will not go without being paid two
months in advance to fit them out with necessaries etc for the passage, Of
course, when they arrive at Dacca they have wages in advance, and all the other
people are four months in arrears, which causes much dissatisfaction, and by
the present regulations, the people I am now going to send may have to wait
seven months before they receive more wages. Being strangers at Dacca they
cannot borrow. I therefore hope the necessity of the times, rice growing dearer
every day, will plead for them and the Honble the Governor General in Council
will admit them with the other working people to be paid monthly, as it will
greatly expedite the coinage.
Mr Hughes from a
representation he has made me is nearly in the same predicament, not knowing
anybody at Dacca who will give him a credit.
Mr Spalding is now
recovered from his late severe illness and has begun the fly presses for the
Patna mint, and Mr Golding has promised his assistance to cast the frames for
them at the arsenal. Until these machines are ready and sent up, nothing more
can be done at Patna.
Captain Garstin
has in consequence of the application of the Assay Master taken down the part
of the mint house at Patna that had sunk, & has secured the foundation with
pyles, rebuilt the part taken down, and made the whole of the house secure and
serviceable.
There then follows
the accounts of the cost of building the Dacca mint – Rs 7985:10:2 – and
includes the following:
A mint house two
storeys high; treasury room, melting, refining, melting, refining, filing and
weighing house; assay room; working house for the smiths and carpenters; and a
strong godown; all enclosed within a wall…
There is then an
account of the costs of altering the Calcutta mint.
Bengal
Consultations. IOL P/4/10, 3rd February 1792, p65
Letters
fromHerbert Harris & George Davidson accompanying letter from Mr Hughes at
the Dacca mint
Conforming the
payment of his 100 rupees per month for the previous 12 months
Bengal
Consultations. IOL P/4/10, 29th February 1792, p576
Letter from the
mint Master to Calcutta dated
Concerning lost
receipts for dollars sent to the mint
Bengal
Consultations. IOL P/4/11, 20th April 1792, p605
Minute
The Board decided
that there was too much bullion for the Calcutta mint to coin, and ordered that
2 lacs of dollars should be sent to Dacca to be coined
Bengal
Consultations. IOL P/4/12, 2nd May 1792, p10
Minute of the
Governor General
The Governor
General in Council taking into consideration the state of the mints observes
that the amount advanced by the treasury for the mint masters, certificates of
bullion delivered into the mint, above the returns of the produce of bullion
into the treasury was on the
31st
January 1792 CRs 503000 and on
21st
March 2,540,701:6:7
3,037,701:6:7
Being an increase
in two months of near twenty lacs and a half of current rupees.
The heavy balance
which thus appears to be due by the mintwhen compared with the coinage in the
months of February, March and April, shews that there must be either some
radical defect in the arrangement or insufficiency in the operative
establishment of this department, and that till this defect be corrected the
arrears of the mint are liable to accumulate and consequently much prejudice
and inconvenience are likely to arise to the mercantile and other interestsof
the settlement from so large a proportion of specie being kept out of
circulation, where the actual circulating specie is certainly by no means
abundant.
There was coined,
the Board observe
Gold Silver Total Siccas
In February only 298,400 342,467:12 640,867:12
In March only 308,000 467,000 775,000
In April only 192,000 448,000 649,600
(sic)
With a view
therefore to ascertain where the evil lies and how it may best be remedied, the
Board think it necessary to appoint a committee to investigate the subject and
report upon it as early as possible to Government.
Agreed that the
committee for investigating the state of the mintage do consist of:
Mr Herbert Harris
Mr Barlow
Mr Caldicott
Lieut Golding
And that the
following letter be written to those gentlemen:
I am directed to
acquaint you that the Governor General in Council has been pleased to pass a
resolution constituting you a committee for superintending the mints and
inquiring into the general state of the coinage in Bengal, Behar and Orissa.
The following instructions are given to you for your guidance in performing
this duty.
You will ascertain
the cause of the length of time which has hitherto elapsed in coining the
bullion sent to the mints, and suggest to the Board such measures as may appear
to you best calculated to aleviate this inconvenience in future.
You are to enquire
particularly into the cause of the little progress that has been made towards
the establishment of the General Currency of the sicca rupee and recommend such
regulations as you may think best adapted to give the orders of Government upon
this subject, full and complete effect.
You are to
ascertain the causes of the batta or discount that has been frequently levied
on the exchange of the gold mohur for silver and suggest the best means of
preventing the revival of this imposition in future.
You are to report
to the Government your opinion whether it would be adviseable to declare the
gold mohur and the multiples thereof a legal tender of payment in all public
and private transactions throughout the three provinces, at the valuation at
which they are now received and fixed at the General Treasury, and in all
private transactions, (viz the gold mohur at sixteen sicca rupees and the
multiples thereof in proportion) or at any other and at what valuation, and
under what regulations.
You are to enquire
into the state of the copper coinage, and submit for the consideration of the
Board, any regulations that it may appear to you adviseable to adopt respecting
it.
You will state to
them your sentiments on the practicability and expediency of coining the gold
mohurs, rupees and pice or either of those coins with machinery of a similar
construction to that in use in the mints in Europe. If the introduction of this
mode of coining shall appear to you impracticable, you will inform the Board
whether there are any alterations in the size, shape or impression of the coin
that can be effected with implements procurable in this country, which it would
be adviseable to adopt.
You are to make
particular enquiry into the rules hitherto in use for assaying bullion sent to
the mint, and lay before Government such regulations as you think proper
regarding this important branch of the business.
You will report to
the Board such regulations as may appear to you best adapted to deter
individuals from boring, filing, defacing and falsifying the coins.
The above are the
material points to which the Government wish you to direct your attention. You
are also to make such further enquiries and submit to them such propositions as
may appear to you calculated for the due regulation of the currency of the
country and for expediting the operations of the mint, so that individuals may
experience as few impediments as possible in converting their bullion into
coin. You will make the first article of the above instructions the chief
object of your immediate attention, that Government as well as the community at
large may be relieved as soon as possible from the loss and inconvenience which
must be experienced from any delay in coining the bullion sent to the mint.
The officers of
the mints at Calcutta, Patna, Dacca and Moorshedabad will be directed to obey
all instruction they may receive from you regarding the coinage and the conduct
of the business of their respective mints. The Boards of Revenue and Trade will
also be desired to instruct the Collectors of the land revenues and the
customs, and the Commercial Residents and Agents to transmit to you with the
least possible delay, such information as you may require from them relative to
the coinage within their respective jurisdictions and the coin received or
issued by them, or their officers, or the zemindars, farmers, ryots, weavers or
other manufatcurers in transactions relating to the revenues, or the investment
or the manner in which such receipts or payments are brought to account. You
will communicate with the Boards of Revenue and Trade as circumstances may
render necessary.
I have only to add
that you are to correspond on the subject of these instructions with the
Governor General in Council, and apply to him for such further orders as you
may occasionally require.
A bit is then
added to instruct them to investigate fixing the relative values of other
rupees to the sicca.
Bengal
Consultations. IOL P/4/14, 6th August 1792, p57
Letter from the
Mint Committee to Calcutta, dated
I am directed by
the Mint Committee to request that you will lay before the Governor General in
Council the enclosed copy of a letter from the magistrate at the city of
Moorshedabad, and that you will inform his Lordship in Council that the
committee beg leave to recommend that the necessary orders be issued for the
buildings therein mentioned being delivered over to the charge of the Assay
Master st Moorshedabad.
Letter from the
Magistrate at Murshidabad to the Mint Committee, dated
I was duly favored
with your letter of the 21st ultimo informing me that the Mint
Committee had directed you to desire me to desire me to report to them whether
there are any building belonging to the Company in the city of Moorshedabad, in
which a mint has been formerly established or which are calculated to answer
that purpose.
In reply I beg
leave to inform you that the ruins of a mint are still remaining at Homgbhoween
near Mehaujumtooly in this city which has remained neglected for these 16 or 17
years. The spot I should imagine from its vicinity to the houses of the
principal merchants of the place to be well calculated for the re-establishment
of a mint, and some of the old materials might perhaps be used in making the
new building. Excepting the above place I know of no buildings belonging to the
Company in which a mint has been established, or is fit for that purpose in
this city.
For the
information of the committee, I beg leave to forward a rough plan of the mint
drawn by some of the officers who belonged to the establishment as it formerly
stood, and to add that I understand many of the workmen formerly employed in
the mint are still living.
Agreed according
to the request of the Mint Committee that the magistrate at Moorshedabad be
directed to cause the buildings mentioned in the second paragraph of his letter
to be made over to the Assay Master at that place, if the buildings are the
property of the Company.
Bengal
Consultations. IOL P/4/14, 13th August 1792, p311
Letter from the
Mint Committee to Calcutta, dated
We have been
honored with two letters from the sub-secretary to the Public Department dated
the 2nd May, one enclosing a copy of an address from the Board of
Trade respecting the embarrassments experienced by the Commercial Resident at
Luckipore from the sicca rupee not being received in the mofussil collections
at the same valuation at which it is issued by Government from the Dacca
treasury, and desiring us to submit our sentiments thereon; the other,
directing us to state our opinion on the following proposition connected with
the subject of the above mentioned letter from the Board of Trade, and on the
expediency of adopting generally the measures therein suggected, viz “whether
the fixing certain rates for the value of the Arcot rupees as for example sicca
Rupees 94 for every hundred sicca weight of Arcot rupees, would not have a
tendency to restore the sicca rupee to its intrisic value, and to make the
introduction of it no longer a matter of difficulty”.
The remarks which
we have now the honor to submit to your Lordship in Council on the above address
from the Board of Trade and the query stated in your sub-secretary’s letter,
are equally applicable to every other district as well as Dacca, in which sicca
rupees are not the general currency and they will in fact contain the result of
our enquiries on the 2nd article of our instructions.
Notwithstanding
the sudder revenue accounts are kept in the sicca rupee and the landholders and
farmers are bound to pay their revenue in this coin, and altho’ no other rupee
but the 19 sun sicca (some few arcots excepted) has been coined since the year
1773, the sicca rupee has obtained but a very partial currency. From the
replies of the collectors to the queries stated to them by the orders of Your
Lordship in Council under date the 4th June and the 8th
October 1787, it appears that almost every district and pergunnah throughout
the provinces have separate currency, consisting chiefly of the old sicca
rupees of the 11, 12 or 15 sun or Arcots or sunauts of various years and
denominations, some struck at the public mints formerly established at Patna,
Dacca and Moorshedabad, and others clandestinely coined by individuals.
To trace the
origin of this disorder in the currency, it will be necessary to advert to the
regulations regarding the coinage which existed under the native government,
and the alterations which took place therein during the early periods of the
Company’s administration.
Under the native
government the sicca rupee was the only coin received into the public treasury,
and as mints were established at the cities of Moorshedabad, Patna and Dacca,
individuals were able to procure the new sicca rupees with facility, by sending
their bullion or old coin to the mint, or disposing of it to a shroff in
exchange for the new siccas at the current batta, which seldom exceeded what
was sufficient to indemnify the shroff for the charges of the mint and to
compensate him for his trouble in getting the old rupees or bullion recoined.
In 1771, the
Government, with a view to establish one general currency, ordered that all the
sicca rupees then in circulation, being those of the 11, 12 & 15 sun issued
from the different mints as well as all siccas that might be coined in future
years, should be received indiscriminately as siccas, and that the ancient
practice of lowering the siccas of former years until they became sunauts
should be discontinued. This measure however does not appear to have been
calculated to effect the object proposed by it, for the sicca rupees of the 11,
12 & 15 suns coined in the four established mints became in consequence
legal tenders of payment, and as the rupee issued from each mint bore the name
of the place where they were coined as well as the year in which they were
struck, four new and different descriptions of coins were annually added to the
number before in circulation.
In 1773 the Patna,
Dacca and Moorshedabad mints were abolished. This measure had the same object
in view as the regulation of 1771. It was hoped that by keeping open only the
Calcutta mint and continuing the 19 sun sicca upon all rupees which might be
subsequently coined, the 19 sun sicca would become the general currency. This
arrangement however, so far from producing the desired effect appears to have
increased the disorders in the currency and to have enabled the money changers
to practice nuerous abuses upon the public. Whilst the three first mentioned
mints were open, the farmers and landholders (who, as formerly, were bound to
pay their revenues in siccas) could always procure sicca rupees in the manner
before stated with facility, but no sooner were these mints withdrawn than the
bankers everywhere bought up the sicca rupees, and at the season of heavy
collections sold them at an exhorbitant price, an imposition which they were
able to practice with siccess as the landholders and farmers of course
submitted to the payment of any batta rather than subject themselves to the
delay, expense and risk that would have attended sending their money to be
coined into siccas in the Calcutta mint. In 1775, siccas at Dacca bore a batta
of 17½ per cent above Arcots whereas the difference in the intrinsic value of
these two coins is only seven per cent and the average batta between then
previous to the abolition of the Dacca mint never exceeded from four to seven
per cent.
In some districts
in the interior parts of the country the old siccas and sunaats had obtained a
partial currency owing chiefly to the distance of the mints, which rendered it
difficult for individuals to obtain the siccas of the current year for their
private transactions, but when the mints at Moorshedabad, Patna and Dacca were
withdrawn, even the farmers and landholders were unable to procure siccas to
make good their payments to the public treasury, except at a most exhorbitant
exchange. Heavy complaints were accordingly made by the council at Dacca and
the provincial counsils of the other divisions of the scarcity of sicca rupees,
and all of the (excepting the council at Purneah) strongly recommended the
reestablishment of the mofussil mints. Instead of complying with this
recommendation, Government formed a table of rates of batta between the various
species of coin then in circulation and the sicca rupee, in which the public
revenue accounts were kept and the engagements of the landholders were payable,
and the officers in charge of the collections were directed to receive these
different sorts of rupees and reduce them to siccas in their accounts agreeably
to the rates specified in the table.
This order
legalised the currency of the variety of old and light rupees then in
circulation, and as the inhabitants of the country could not estimate their
property, or regulate their dealings by a variety of measures of value, some
particular species of these old and light rupees necessarily bacame the general
and settled measure of value in each district and the standard of all
commercial transactions. The zemindars collected these rupees from the ryots
and either paid them into the treasury at the rates of batta established by
Government, or disposed of them to the shroffs for sicca. The shroffs and
merchants sent them back to the mofussil, and in this manner they continued to
flow between the treasury and the districts in which they were current. When a
particular rupee thus became the established measure of value in a district,
all other denominations of rupee brought into it were of course considered as
bullion. If a merchant carried a rupee coined at Patna in the 10th
year of the King’s reign to a district in which rupees struck at Moorshedabad in
the same year were current, he was obliged (as there was no mint in which ten
sun Moorshedabad rupees were coined) to dispose of it to a shroff for the
currency of the district, and to submit to the payment of such exchange as the
latter may demand. The manufacturer rejected the Patna rupee because he was in
the habit of estimating the value of his goods by the Moorshedabad rupee and
the cultivator of the soil would receive no other but the latter in exchange
for grain or the raw materials of manufacture because the zemindar and farmer
required the Moorshedabad rupee from him in payment of his rent. Consequently,
if he received the Patna rupee, he would have been under the necessity of
selling it to a shroff at a considerable loss.
From every
district therefore having a distinct currency, neither Government or
individuals can send money current in one part of the provinces to be appied to
commercial or other purposes in another, without being subject to the same
inconvenience, and often loss, as attends the making remittances to foreign
countries. The advantages which the shroffs derive from this disordered state
of the currency must of course be enormous. Having agents in every part of the
country, they buy up rupees where they are not current and of course at a
depreciated value and send them to districts in which they are current and
where they dispose of them at an enhanced price.
The above
circumstances account satisfactorily for the exhorbitant value which rupees
current in any particular district often bear at certain seasons of the year
when in demand by the merchants to make advances to the manufacturers. In the
Dacca province for instance, Mr Scott states that the Arcot rupee passes at the
same value as the sicca although the latter is intrinsically worth seven per
cent more then the former.
The Arcot rupee
not being coined at the public mints and being procurable only from the shroffs
who are the sole dealers in money, the merchant who happens not to have in his
possession any other species but sicca rupees, is under the necessity of
disposing of them to the shroffs for Arcots, at whatever batta or exchange they
may think proper to exact, to avoid the greater loss that he would sustain from
not being able to make his intended provision of goods.
The regulation of
the the 26th August 1791, however it might have been calculated to
obviate temporary difficulties, appears to us rather to have increased the
evils above stated, and we beg leave to express our concurrence in the opinion
of the Board of Trade that the sicca rupee can never be made generally current
whilst this regulation remains in force. At Dacca for example the Arcot rupee
necessarily bears an enhanced value from being in general demand for the
revenue and commercial transactions in the interior parts of the district.If
Government receive this rupee at the treasury at the bazar rate of batta, which
makes it nearly equal to the sicca, they enhance its value and consequently
contribute to increase the demand for it as every person who has an engagement
with the public in siccas rupees, will of course satisfy it in Arcots. Nor can
it be expected if Government receive Arcots into the treasury at the same value
as siccas, that the manufacturers who appreciate their cloths in Arcots will
receive the siccas from the commercial resident at at exchange or batta of 17½
gundas better then Arcots, as the former coin will not purchase more threads or
grain in the bazar then the latter.
A further evil
attends the receiving the Arcots or any other species of rupee excepting siccas
in payment of the revenues at the bazar rates of batta ( which for reasons
above stated must always exceed considerably their intrinsic value) and coining
them into siccas at the expense of Government. It holds out a great encouragement
to individulas to melt down the sicca rupees immediately they are issued from
the mint and to convert them again into the currency from which they were
coined. The Arcot rupee for instance is about two per cent lighter and five per
cent worse in standard than the sicca rupee. One hundred therefore of the
latter with the addition of five per cent of alloy will produce about one
hundred and seven Arcots of full weight and legal standard by an expeditious
and unexpensive process. The coiners can immediately exchange these Arcots for
the same number of siccas, and by thus continuing to purchase the new siccas
with their counterfeited Arcots, and to convert them into the last mentioned
coin, derive an increasing profit.
Your Lordship in
Council has already directed the reestablishment of the mints at Dacca, Patna
and Moorshedabad, which we conceive was the first step necessary to be taken to
effect the reform of the coinage. We now submit to your consideration the
following propositions which appear to us calculated to draw the various
species of old and light coins into mints and to establish the general currency
of the sicca rupee.
First: that after
the 30th Chyte 1200 Bengal style, corresponding with the 10th
April 1794, only the 19 sun sicca rupees be received at the public treasuries
or issued therefrom on any account whatsoever.
Second: that
public notice be given that Government, with a view to enable individuals to
get their old coin or bullion converted into sicca rupees without delay, have
established mints at Patna, Moorshedabad and Dacca, in addition to nthe mint at
Calcutta.
Third: that for
all bullion or old coin of sicca standard delivered into the mint, an equal
weight of sicca rupees be returned to the proprietor without any charge
whatever.
Fourth: that all
bullion or old coin under sicca standard delivered into the mint be refined to
the sicca standard, and that a number of sicca rupees equal to the weight of
the bullion so refined be returned after deducting twelve annas per cent for
the charge of refining.
Fifth: that the
rupees coined at Dacca, Patna and Moorshedabad be made precisely of the same
shape weight and standard and that they bear the same impression as the 19 sun
sicca coined at Calcutta, in order that the rupees struck at the several mints
may not be distinguishable from each other and that they may be received and
paid indiscriminately in all public and private transactions.
Sixth: that to
guard as far as possible against the counterfeiting, clipping, drilling, filing
or defacing of the coin, the dies with which the rupees are to be struck be
made in future of the same size as the coin, so that the whole of the
inscription may appear upon the surface of it, and that the edges of the coin
be milled.
Seventh: that
persons detected in counterfeiting, clipping, filing, drilling or defacing the
coin be committed to the criminal courts and punished as the law directs.
Eighth: That all
the officers, gomastahs and others employed in the collection of the revenues,
the provision of the investment and manufacture of salt, and all shroffs,
podars, zemindars, Talookdars, farmers and all persons whosoever, be prohibited
fixing any mark whatsoever on the coin, and that all rupees so marked be
declared not to be legal tenders of payment in any public or private
transaction, and that the officers of Government be directed to reject any
rupees of this description that mey be tendered at the public treasuries.
Ninth: that as
there may not be a sufficient number of sicca rupees in circulation in some districts
(notwithstanding the great number of this species of rupee that has been lately
coined in the mints at Dacca and Calcutta) to enable the landholders to pay
their revenues to Government in sicca rupees as stipulated in their engagements
for the decennial settlement, that the various species of rupee current in the
several districts be received at the public treasuries from the landholders and
farmers in payment of their revenue until the 30th Chyte 1200 Bengal
style or 10th April 1794, at fixed rates of batta to be calculated
according to the difference of intrinsic value which the various species of
coin in circulation bear to the sicca rupee as ascertained by assay in the
Calcutta mint.
Tenth: that all
rupees excepting siccas which may be received at the public treasuries
agreeably to the 9th article be not on any account issued therefrom
but that they be sent to the mint and coined into siccas of the 19 sun.
Eleventh: that
after the 30th Chyte Bengal style, corresponding with the 10th
April 1794, no person be permitted to recover in the Dewanny or Maul Adawlute
established in the provinces of Bengal, Behar and Orissa, any sum of money
under a bond, or other writing, or any agreement written or verbal, entered
into after the above mentioned date, by which any species of rupee excepting
the sicca rupee of the 19 sun is stipulated to be paid.
Twelfth: that
persons who shall have entered into bonds or writings or other agreements
written or verbal, prior to 30th Chyte 1200 Bengal style,
corresponding with 10th April 1794, whereby a sum of money is to be
paid in any other species of rupee excepting the 19 sun sicca, and who shall
not have discharged the same before that date, be at liberty to liquidate such
engagement either in the rupee specified therein or in the 19 sun sicca rupee
at the batta which may be specified in the table mentioned in the 9th
article.
Thirteenth: that
all engagements hereafter entered into on the part of Government for the
provision of the investmentor manufacture of salt or opium, be made in the
sicca rupee, and that all landholders and farmers of land be expressly
prohibited from concluding engagements with their under renters, Ryots or
dependent Talookdars, after 30th Chyte 1200 Bengal style,
corresponding with the 10th April 1794, excepting for sicca rupees,
under the penalty of not being permitted to recover any arrears that may become
due to them under such engagements as prescribed in the 11th
article.
Should your
Lordship in Council approve of the above propositions we beg leave to recommend
that they be printed with the table of rates of batta ( which we shall prepare
and submit without delay) and the orders your Lordship in Council regarding the
coining of bullion sent to the mint under date 15th and 20th
June last, together with translates in the Persian and Bengal languages and
that the printed copies be sent to the judges of the city adawluts, the
Collectors of the land revenues and salt agents, and the Cauzies, canongoes and
tehseeldars in the several districts, with directions to fix up copies of the
translates in the cutcherries of the several pergannahs, that all persons may
be acquainted with the regulations under which the coinage is to be in future
conducted.
We shall hereafter
have the honor to submit to you specimens of the rupees proposed to be coined.
The Governor
General in Council after mature considerations of the propositions laid before
him by the Mint Committee declares his approval thereof…
Bengal
Consultations. IOL P/4/14, 20th August 1792, p377
Letter from the
Mint Committee to Calcutta dated
We beg leave to
submit to you the following remarks and propositions on the 6th
article of our instructions, which directs us “to state our sentiments on the
preacticability and expediency of coining gold mohurs, rupees and pice, or
either of those coins with a machinery of a similar construction to that in use
in the mints in Europe, or of making any alteration in the size, shape or
impression of the coin with the implements procurable in this country”.
The size, shape
and impression of the gold mohurs appear perfect, and fully equal in every
respect to the newest English guinea, or any of the gold coins in Europe. The
die is precisely of the same size as the coin, on which the whole impression
consequently appears; the letters are cut flat and therefore liable to as
little injury as possible from wear, and from being milled and of a proper
thickness, it must be difficult to drill the coin without defacing it so as to
render the fraud easily discoverable.
The machines and
implements for striking and milling the gold coin, if not exactly similar,
appear to answer those purposes as well as the milling and stamping machines
used in Europe. Owing to some defect in the laminating machine which prevents
it being used for preparing the planchets, the blank is made first with a
hammer, and afterwards struck in a mould with a fly-press flat at the
extremity, which expands the blank to the exact size of the mould and renders the
blank as perfect as if cut with the cutting engine out of a slip or plate
prepared with a laminating machine.
With respect to
the silver coin, it appears to be very defective with regard to its size,
thickness and impression. The blank is made with the hammer; the impression is
struck with a fly-press but with a die of twice the circumference of the coin
so that only a part of the impression appears upon it. The letters also,
instead of being flat like those of the gold mohur, are prominent and pointed, and
consequently liable to greater injury from common wear, as well as from filing.
From being very thick and not milled it may be easily filed and drilled, and is
liable to be defaced and debased in other ways, so that no person can receive
it with safety without having it examined by a shroff.
We beg leave
therefore to recommend that in future the rupees be coined and milled in the
same manner as the gold mohur and that the Hijeree are be omitted, as the
insertion of it, by shewing the year in which the rupees are struck, defeats
the object of Government in continuing the 19th sun or year of the
King’s reign upon the coin.
We beg leave to
submit specimens of rupees coined and milled in the manner proposed, and should
they meet with the approbation of your Lordship in Council, we shall take the
necessary steps for preparing the requisite number of fly-presses and other
implements with the least possible delay, continuing in the meantime to coin
the rupees in the former method, until a sifficient number of machines and
implements are completed to enable the Mint Master at Calcutta and the Assay
Masters of the the other mints to coin the new rupees with equal expedition.
Agreed for the
resons stated by the Committee in the 4th and 5th
paragraphs of their letter, that in future the rupees be coined and milled in
the same manner as the gold mohurs, and that the insertion of the Hegeree era
upon the coin, be omitted.
The Board approve
the specimens laid before them of rupees coined and milled in the manner
proposed.
Minute of the
Governor General
The loss and
inconvenience which Government as well as individuals have siffered from the
delay in coining bullion sent to the mint has already attracted the notice of
the Board. A large sum of bullion belonging to Government remains to be coined
and, exclusive of the quantity which may be expected to be imported annually by
individuals, the greater part of the circulating specie in the provinces must
pass thro’ the mints in consequence of the regulations which have been adopted
for the reform of the coin.
The country must
at all times suffer great detriment from individuals not being able to get
their bullion speedily converted into money, but any delay at the present
crisis would be productive of general distress and might frustrate the
intentions of Government with regard to the reform of the coin.
The regulation of
the Calcutta mint of course demands the earliest attention. From the great
increase of business which must necessarily arise in this mint, as well as upon
general principles, I am of opinion that the offices of Assay and Mint Master
should be held by different persons, and made entirely independent of each
other. Mr Harris’s knowledge of the business of assaying renders him peculiarly
fit for the office of Assay Master. I therefore propose that he be nominated to
it, and that Mr James Miller be removed from the civil auditorship and
appointed Mint Master in the room of Mr Harris.
The commission and
other allowances drawn by the Mint Master and Assay Master in the past year
ending with May 1792 (eclusive of house rent to the former) amounts to rupees
53,229 as particularised in the annexed statement. In conformity to the
principle which has been adopted, that the emoluments of the officers of
Government shall be fixed and determinate in their amount, I recommend that
instead of the commission and allowances now received by the Mint Master and
Assay Master, they be allowed a salary of 2250 rupees per month each, in lieue
of all personal allowances. Much assiduity and attention being required in the
performance of the duties of Mint Master, and as it is an office of
considerable trust and responsibility, a liberal permanent salary should be
annexed to it. That now proposed falls short of the commission which he received
in the last year in the sum of of rupees 6,864. The salary recommended for the
Assay Master is 10,635 more than his allowances in the past year, but I have
been induced to proose its being fixed at this rate, altho’ it is somewhat
higher than the nature and duties of the office require, in consideration of Mr
Harris’s rank as well as his peculiar skill in the business of assaying. These
considerations will of course point out the propriety of reducing this
allowance to a lower standard whenever he may quit the office. It may be proper
to add that the salaries now proposedfor the Mint and Assay Master do not
exceed the sum which they would probably continue to draw after the completeion
of the general reform of the coinage supposing their present commission were to
be confirmed to them, as under the existing regulations, large quantities of
old and light rupees as well as bullion will be constantly sent to the mint
during the progress of the new coinage. This commision would be more than
double the fixed monthly allowance now recommended to be granted, as the
coinage has already increased to almost ten lacks in silver per month, which
upon an average is almost twice the sum coined monthly during the past year.
As there are no
apartments in the mint which can be appropriated for an office for the Mint
Master, I recommend that a house be hired for that purpose as contiguous as
possible to the mint, and that the rent be paid by Government.
It further appears
to me that it is the duty of the Mint Committee to superintend the conduct of
the Mint Master and to check his accounts, and also to revise his establishment
and to propose occasionally such alterations therein as may be suitable to the
business of the mint. It may be advisable upon general principles not [to]
allow the person who may hold the office of Mint Master to have a seat on that
committee.
There is then a
statement of the allowances etc of the Mint and Assay Masters.
This is all
agreed.
Bengal
Consultations. IOL P/4/14, 24th August 1792, p485
Letter from the
Mint Master (Herbert Harris) to the Mint Committee dated
Accompanying I
have the honor to lay before you a plan of the mint.
The range of
buildings marked A which now compose the bullion office and worshop are to be
appropriated to the coining presses and a godown to be built between the letter
B & C for a bullion office with a verandah projecting.
The range of
buildings marked D is the office for the Dhurraps and will contain 9 setts.
This is much out of repair and the terrace very bad.
The southern side
marked E is occupied for the furnaces for melting gold and silver, and beating
out the gold into leaves, preparing the paddy husks, sifting chuman & for
the process of refining. These buildings are quite out of repairs and must be taken
down and rebuilt.
The new house
erected on pillars for the refiners, is now appropriated for 13 additional
setts of dhurops, and a wall run across where the dotted lines are for a new
melting office.
The rest of the compound
is taken up with Hoogley sheds, under which the remainder of the dhurops and
the refiners work. The fires of the latter are continually setting the sheds on
fire, which causes frequent complaints from out neighbours, and the noxious
vapours from the smoke of the refinings which are of a poisonous quality from
the lead, has been the death of several workmen.
To remedy this
eveil I tried many experiments on refining, which succeeding, I have since
proved them in the large way and am convinced that with furnaces properly
constructed I can obviate all the inconveniences arising from the country
method, keep the people who attend the furnaces in health, and save more than
the expense of building them in a couple of years by using wood instead of
charcoal, and striking of the constant monthly expense of repairing the sheds.
I have taken in
towards the river a piece of ground near ¾ Begah which will make the mint much
more roomy, and be a very valuable acquisition to the property for it will
increase its value full sicca rupees 8000.
On this ground I
have erected work sheds for the smiths employed forging the screws for the
fly-presses.
The estimates for
the walls and buildings now erecting accompanies this letter
There then follows
the estimate (but no plan) showing a total cost of Rs 7378-12—
The work was
agreed.
There then follows
a letter from the Collector of Chuprah listing the coins current in his
district.
Bengal
Consultations. IOL P/4/14, 7th September 1792, p539
Letter to the mint
committee asking them to prepare the table of the ralative values of the
different rupees in circulation.
There are than
letters from the Mint and Assay Masters trying to define their roles during the
handover period and also a list of all the outstanding bullion in the mint.
Following this Mr Miller is told to take full responsibilty for the mint.
Bengal
Consultations. IOL P/4/14, 14th September 1792, p648
Letter from the
Mint Master asking for help from Lieutenant Golding in constructing certain
aspects of the new mint.
Bengal
Consultations. IOL P/4/14, 17th September 1792, p719
Letter from the
Mint Master requesting more guards for the mint. Granted
Followed by a
letter from the Mint Committee asking for authorisation of the expenditure of
getting stores etc to the Murshidabad mint, and then a letter requesting
authorisation for buying a flatting mill for the Patna mint. Both granted.
p728
Agreed that orders
be sent to the Mint Master and Assay Master separately to make a daily report
to Government in a letter to their secretary, of the business done in their
respective offices in the day preceeding
Bengal
Consultations. IOL P/4/15, 3rd October 1792, p160
Report of mint
& assay office
Descriptive
account of what went on in the mint eg made 18,355 blanks
Bengal
Consultations. IOL P/4/15, 5th October 1792, p204
Report of mint
& assay office
3rd
October
…The business of
refining retarded about 2 hours by a severe fall of rain between two and four
O’Clock which from the expected state of the refining sheds would have stopped
the process for the whole day had it continued longer than it did.
4th
October
…Cleaned &
struck into rupees the blanks mentioned in yesterday’s report, 29,251…
Bengal
Consultations. IOL P/4/15, 8th October 1792, p252
Letter from Mint Committee
to Calcutta dated 6th October
Requesting
approval for money needed for the building of the Murshidabad mint
Bengal
Consultations. IOL P/4/15, 12th October 1792, p297
Report of mint
& assay office
Continues with
descriptive account until page 301 when standard reports seem to start. All
appears to be silver to start with
10th
oct: silver 35,183 Rs
11th
Oct: silver 35,000 Rs
Bengal
Consultations. IOL P/4/15, 17th October 1792, p380
Report of mint
& assay office
12th
Oct: silver 35,136 Rs
13th
Oct: silver 35,555 Rs
14th
Oct: silver 35,155 Rs
At the end of the
last report he states:
NB 71,000 would
have been sent to the treasury this day but that some of the rupees being
defective in their impression must be done over again.
16th
Oct: silver 35,000 Rs
Bengal
Consultations. IOL P/4/15, 19th October 1792, p444
Report of the mint
& assay office
17th
Oct: silver 35,000 Rs
18th
Oct: silver 35,000 Rs
Bengal
Consultations. IOL P/4/15, 22nd October 1792, p452
Report of the mint
& assay office
19th
Oct: silver 22,454 Rs
20th
Oct: silver 41,442 Rs
Bengal
Consultations. IOL P/4/15, 26th October 1792, p499
Report of the mint
& assay office
22nd
Oct: silver 35,800 Rs
23rd
Oct: silver 33,350 Rs
24th
Oct: silver 36,375 Rs
25th
Oct: silver 35,069 Rs
There then follows
a table of all the different types of rupee assayed and compared to sicca
rupees. This list includes ‘Dutch Arcots’ at 95/100 with the comment ‘vary
considerably’. These must therefore be identifiable.
The following
advertisement has been published by order of Government (p506)
The following
regulations for the conduct of the several mints having been adopted by the
Governor General in Council are now made public, together with the subjoined
table of rates of batta for general information
First: that after
the 30th Chyte 1200, Bengal style, corresponding with the 10th
April 1794, only the 19 sun sicca rupee be received at the public treasuries or
issued therefrom on any amount whatsoever.
Second: that
public notice be given that Government, with a view to enable individuals to
get their old coin or bullion converted into sicca rupees without delay, have
established mints at Patna, Moorshedabad and Dacca, in addition to the mint at
Calcutta.
Third: that for
all bullion or old coin of sicca standard delivered into the mint, an equal
weight of sicca rupees be returned to the proprietor without any charge
whatsoever.
Fourth: that all
bullion or old coin under sicca standard delivered into the mints be refined to
the sicca standard and that a number of sicca rupees equal to the weight of the
bullion so refined be returned, after deducting twelve annas per cent for the
charge of refining.
Fifth: that the
rupees coined at Dacca, Patna and Moorshedabad be made precisely of the same
shape, weight and standard, and that they bear the same impression as the 19
sun sicca rupee coined at Calcutta, in order that the rupees struck at the
several mints may not be distinguishable from each other, and that they may be
received and paid indiscriminately in all public and private transactions.
Sixth: that to
guard as far as possible against the counterfeiting, clipping, drilling, filing
or defacing the coin, the dies with which the rupees are to be struck be made
in future of the same size as the coin, so that the whole of the inscription
may appear upon the surface of it, and that the edge of the coin be milled.
Seventh: that
persons detected in counterfeiting, clipping, filing, drilling or defacing the
coin be committed to the criminal courts and punished as the law directs.
Eighth: that all
the officers, gomestahs and others employed in the collection of the revenues,
the provision of the investment, and manufacture of salt, and all shroffs,
podars, zemindars, Talookdars, farmers and all persons whatsoever, be
prohibited affixing any mark whatsoever to the coin, and that all rupees so
marked be decalred not to be legal tender of payment in any public or private
transaction, and that the officers of Government be directed to reject any
rupees of this description that may be tendered at the public treasuries.
Ninth: that as
there may not be a sufficient number of sicca rupees in circulation in some
districts (notwithstanding the great number of this species of rupee that has
been lately coined in the mints at Dacca and Calcutta) to enable the
landholders to pay their revenues to Government in sicca rupees as stipulated
in their engagements for the decennial settlement, that the various species of
rupees current in the several districts be received at the public treasuries
from the landholders and farmers in payment of their revenue until the 30th
Chyte 1200 Bengal style, or 10th April 1794, at fixed rates of batta
to be calculated according to the difference of intrinsic value which the
various species of coins in circulation bear to the sicca rupee as ascertained
by assay in the Calcutta mint.
Tenth: that all
rupees excepting siccas, which may be received at the public treasuries
agreeably to the ninth article be not on any account issued therefrom, but that
they be sent to the mints and coined into siccas of the 19 sun.
Eleventh: that
after the 30th Chyte Bengal style, corresponding with the 10th
April 1794, no person be permitted to recover in the Dewanny or Maul Adawlute
established in the provinces of Bengal, Behar and Orissa, any sum of money
under a bond, or other writing, or any agreement written or verbal, entered
into after the above mentioned date, by which any species of rupee excepting
the sicca rupee of the 19 sun is stipulated to be paid.
Twelfth: that
persons who shall have entered into bonds or writings or other agreements
written or verbal, prior to 30th Chyte 1200 Bengal style,
corresponding with 10th April 1794, whereby a sum of money is to be
paid in any other species of rupee excepting the 19 sun sicca, and who shall not
have discharged the same before that date, be at liberty to liquidate such
engagement either in the rupee specified therein or in the 19 sun sicca rupee
at the batta which may be specified in the table mentioned in the 9th
article.
Thirteenth: that
all engagements hereafter entered into on the part of Government for the
provision of the investmentor manufacture of salt or opium, be made in the
sicca rupee, and that all landholders and farmers of land be expressly
prohibited from concluding engagements with their under renters, Ryots or
dependent Talookdars, after 30th Chyte 1200 Bengal style,
corresponding with the 10th April 1794, excepting for sicca rupees,
under the penalty of not being permitted to recover any arrears that may become
due to them under such engagements as prescribed in the 11th
article.
A table shewing
the intrinsic value of the following speies of rupee current in Bengal, Behar
and Orissa, compared with the sicca rupee from assays made in Calcutta Viz:
|
Species of Rupee |
Intrinsic value compared
with the sicca rupee |
|
Siccas of Moorshedabad,
Patna and Dacca per sicca weight 100 |
100-- |
|
Pholeys sonats |
100-- |
|
Dilhy Mahomut Shai |
99-8- |
|
Money Surat large |
99-8- |
|
Benares Sicca |
99-8- |
|
Bissun Arcot |
97-14-6 |
|
Sonats [sabic &
Duckie?] |
97-8 |
|
Forshee Arcots |
97-6-6 |
|
French Arcots |
97-- |
|
Patanea Arcots |
96-9-6 |
|
Arunzebee Arcots |
96-9-6 |
|
Gursaul Arcots |
96-9-6 |
|
Madrass Arcots new |
96-4-9 |
|
Massulipatam and Shardar
Arcots |
96-- |
|
Patna sonats old |
96-- |
|
Benares rupees old |
95-14-6 |
|
Madras Arcots old |
95-14-6 |
|
Farrukhabad rupees |
95-12-9 |
|
Jehanjee arcots |
95-11-3 |
|
Chaunta Arcots |
95-11-3 |
|
Calcutta and Moorshedabad
Arcots |
95-6-6 |
|
Old Arcots |
95-3-3 |
|
Dutch Arcots |
95-- |
|
Surat Arcot |
94-- |
|
Benares Trisulie |
92-6-6 |
|
|
|
|
|
|
Letter from the Mint
Committee to Calcutta, dated 23rd October 1792, p526
As the great delay which at present
occurs in coining the gold bullion arises from the tedious method of refining
it by cementation, by which process two and sometimes three months are required
to reduce it to gold mohur standard, a great deal of time would be saved, and
consequently the expenses of the mint be greatly reduced , if a sufficient
quantity of antimony could be procured for that purpose, as the process of
refining would in that case be completed in two or three days.
We understand that antimony
is procurable in great quantities at an inconsiderable expense in Nepaul and as
Captain Kirkpatrick’s embassy to that country may afford a favourable
opportunity of procuring the above article, we beg leave to recommend that
instructions be given to that gentleman to endeavour to procure such a quantity
of antimony as may be sufficient for the present use of the mint, and also to
take such measures as may appear to him best calculated to provide for a
regular supply thereof in the future.
We have the honor to submit
to you a specimen of the ore of antimony, which if the above suggestion should
meet the approbation of your Lordship in Council, may be forwarded to Captain
Kirkpatrick for his information, but as there is a great similarity in the
appearance of the ores of lead and antimony it may likewise be necessary for
him to receive particular directions respecting the latter, to enable him to
distinguish the antimonial ore from the lead ore, which directions, should your
Lordship in Council approve of the above proposition, we shall do ourselves the
honor of submitting to you.
Ordered that the Mint
Committee be informed that there objections to any dependance being placed upon
obtaining a quantity of antimony from Nepaul, and that it will be better to
indent on Europe for such an annual supply as may be necessary for the purpose
they mention. They are further to be acquainted that the Board will trust to
the Committee to furnish them with a specification of the quality of the
antimony and a report of the quantity wanted, that proper application may be
made for the same to the Honble Court of Directors in the next dispatch.
Bengal
Consultations. IOL P/4/15, 29th October 1792, p553
Mint & Assay
Office Report
26th
Oct: Silver coins 35,000 Rs
NB on the 24th
inst. The grate of one of the melting places having given away, six pots of
silver partly in fusion fell into the fire place; and upon examinationof all
the others, the iron was found to be so much reduced from the fire that none of
these can be used until supplied with new and strong bars, for which purpose
iron of the proper size has been provided, and the melting places are now
fitting up.
The particulars
are stated because they have unavoidably put a stop to the business of one day,
and will therefore prevent the delivery of rupees tomorrow, the 28th
inst.
27th
Oct: Silver coins 38,539 Rs
Bengal
Consultations. IOL P/4/15, 2nd November 1792, p581
Mint & Assay
Office report
29th
October: Silver coins 31,940 Rs: Gold 31,584 Rs
30th October:
Silver coins 32,690 Rs
31st
October: Gold 23,616 Rs (= 1476 mohurs)
NB no silver can
be sent to the treasury this day in consequence of the severe rain that fell on
the 29th ultimo, which put almost a total stop to the business of
the duraps on the 30th, and impeded it to some extent since.
1st
November: Silver coin 30,250 Rs: Gold 30,400 Rs (= 1900 mohurs)
The secretary [of
the Mint Committee] reports to the Board that according to their orders, a
notice has been issued for publication in the Gazette, that permission granted
to individuals by the advertisement of the 31st August last, to
exchange mint certificates for 8 per cent promissory notes instead of waiting
to receive the produce of their bullion in coin, will be withdrawn from the 17th
instant
Bengal
Consultations. IOL P/4/15, 5th November 1792, p611
Report of the Mint
& Assay Office
2nd
November: Gold 30,400 Rs
3rd
November: Silver 50,000 Rs: Gold 60,000 (=3750 mohurs)
There then follows
a long letter from the Mint Master about various receipts that he has received
from the Assay Master. Basically stating that the way the two offices worked
needed to change. Finally:
Agreed according
to the recommendation of the Mint Committee, in their letter dated the 23rd
ultimo, that the specimens of bullion required for the purpose of making the
assays be selected by the Assay Master in concert with the Mint Master and
likewise in the presence of the proprietor, should he wish to attend at the
selection.
Agreed also that
in future, any difference that may arise between the estimated amount of the
bullion by assay and the actual produce thereof be carried to the account of
Government.
Bengal
Consultations. IOL P/4/15, 9th November 1792, p663
Report of the Mint
& Assay Office
6th
November: Silver 21,940 Rs: Gold 35,808 Rs (=2238 mohurs)
7th
November: Silver 31,000 Rs: Gold 43,200 Rs (=2700 mohurs)
8th
November: Silver 31,290 Rs
The Mint Master
requested a further 30 chests of silver be sent to the mint for coining. This
was approved.
Bengal
Consultations. IOL P/4/16, 12th November 1792, p31
Daily Report of
the mint (James Miller) and assay office (Herbert Harris)
10-11th
Nov 35,000 Rs of silver and 2000 gold mohurs (=32,000Rs)
11-12th
Nov 65,000 Rs of silver and 763 gold mohurs (=12,208Rs)
Bengal
Consultations. IOL P/4/16, 16th November 1792, p53
Report of the mint
and assay office
12-14th
Nov 35,000 Rs
14-15th
Nov 35,000 Rs
15-16th
Nov 35,000 Rs
Letter from the
Mint Committee to Calcutta, dated
The Mint Committee
request you will acquaint the Governor General in Council that the Assay Master
at Moorshedabad having informed them that he has met with buildings that he
thinks will be calculated for the mint at that city, which are to be let at
sicca rupees 122 per month, they beg leave to request that his Lordship in
Council will be pleased to authorise Mr Agg to rent them on those above
mentioned terms.
Agreed that
authority be given to Lieutenant Agg to rent the buildings above mentioned on
the terms proposed…
There is then a
request for money from the treasury to pay for various activities of the mint
and then a request to pay bills for various items of machinery delivered by Mr
Myers.
Bengal
Consultations. IOL P/4/16, 19th November 1792, p83
Report of the mint
& assay office
16-17th
Nov 30,000 Rs
17-19th
Nov 60,000
The assay office
repots both gold and silver collected for assay so presumably the numbers
include both
Bengal
Consultations. IOL P/4/16, 23th November 1792, p
Letter from the Assay
Master at Patna (R Blake) to the Mint Committee, dated
I beg that you will please to acquaint the
committee that I arrived at Patna on the 31st of October and that in
order to use as little delay as possible I procured an additional number [of]
boat people at Moorshedabad and went myself in a small boat to Mongheir and
proceeded from thence by land to Patna by which means I have got the blocks for
the fly presses in great forwardness, people at work fixing the laminating
machine and everything in a train that I hope to be able to begin coining in
about six weeks.
I have to request
that the committee will please to obtain an order on the Collector in my favor
for sicca rupees 4,000 for sundry disbursements and to enable me to go on with
the eresting, refining and melting furnaces and an additional room to the new
building for fixing the fly presses. I have a plan of the buildings in hand,
which I will complete and forward to the committee in three or four days. I
have also to acquaint them of the safe arrival of the boats with the mint
implements and stores.
Agreed that he be
given the 4,000 rupees.
Report of the mint
and assay office
19-20th
Nov 32,000 Rs
20-23rd
Nov 70,881 Rs
Minute
The following
minute having been agreed by the Board the regulations contained in it were
published on the 21st instant in the English, Persian and Bengalese
language
The Board observe
that the gold mohur continues to pass at a discount in Calcutta notwithstanding
the repeated orders that have been issued for its being received at its full
value. They ascribe this discount to the following causes.
First to the
circulation of the gold mohur being confined to
Second to the coin
being rather over valued, and to the greater part of the expense of refining
gold bullion being defrayed by Government.
The first of these
causes is of itself sufficient to give rise to the evils in question. The gold
mohur is received in to the Government treasury at its full value of sixteen sicca
rupees, and issued from thence at the same rate. But persons who receive
payments from the treasury in this coin and have occasion to make disbursements
out of Calcutta are obliged to carry it to a shroff to be exchanged for rupees,
which are the only coins current in the interior parts of the country. The
shroff of course takes his profit upon the transaction, and would exact it
equally were the goldcoin to be rather under instead of over valued. The holder
of the gold mohur must submit to the imposition for they are of no more use to
him out of Calcutta than an equal weight of bullion or foreign coin. The shroff
(perhaps the very same day) pays the gold mohurs which he has thus purchased at
a discount, to Government at par on the part of the purchasers of salt or
opium, or in discharge of bills drawn upon his house in Calcutta in favor of
Government. The discount which the shroffs exact from the holders of gold coin
who have occasion to make disbursements out of Calcutta, becomes also the
standard batta for the town,in which the gold mohur will not purchase more
grain or other articles than can be procured for the quantity of silver money
for which it will exchange. The shroffs are thus enabled to levy a discount
upon the gold coin every time it passes through the treasury or is paid away by
individuals who have been obliged to receive it in payment at the full value of
sixteen sicca rupees.
From the second
cause above stated, the circulating specie of Calcutta consists chiefly of
gold, altho’ silver is the standard measure of value in all transactions. The
gold mohur being somewhat overrated, the shroffs find it more profitable to
import gold to answer bills drawn on their houses at Calcutta than silver. For
as in all other parts of Hindustan the gold coin is not a legal tender of
payment, and passed only as a circulating medium by common consent at the
current market price, its value is rather depreciated in those countries.
Persons therefore who have occasion to remit money to Calcutta from Lucknow or Benares
can generally procure as much gold for the quantity of silver contained in
fifteen silver rupees as when sent to the Calcutta mint will yield a gold mohur
which they can pass off for sixteen rupees. In consequence of this over
valuation of the gold mohur the returns from Madras and the Eastward are
generally made in gold and there is now in the mint [……] thousand sicca weight
of gold dust and bullion of various descriptions. Silver being the standard
measure of value in this country the importation of it should be encouraged in
preference to gold or at all events it should not be made more advantageous to
import the latter metal.
The Board
accordingly resolve as follows:
First; that all
gold mohurs of full weight (Viz seventeen annas sicca weight) coined in the
Calcutta mint since the 20 March 1769 corresponding to the year of the Higeree
1182, shall be declared a legal tender of payment in all public and private
transactions throughout the country at the rate of sixteen sicca rupees and
that the officers at all the public treasuries be instructed accordingly.
Second; that in
consideration of the expense incurred in refining and coining gold, the
following percentage be delivered after this date on gold bullion sent for
coining [there then follows a list from 2½ to 3 12/16 % charges depending on
the quality of the gold submitted]
Third; that no
percentage be charged on the recoinage of old or light gold mohurs coined in
the Calcutta mint since the 20th March 1769 corresponding with the
Hegeree year 1182.
The above
regulations must necessarily operate to make the gold coin pass at its full
value and extending its circulation, and by discouraging the importation of
gold in preference to silver. The Board have no reason to apprehend that the
above duty is sufficiently high to afford encouragement to the counterfeiting
of the coin. They doubt indeed whether the natives will be able to counterfeit
it now that it is milled and the workmanship is in other aspects so much more
improved. At all events the expense would be so great as to render the profit
inadequate to the risk.
Bengal
Consultations. IOL P/4/16, 26th November 1792, p147
Report of the mint
& assay office
23-26th
Nov 76,065 Rs silver; 2500 gold mohurs (=40,000Rs)
Bengal
Consultations. IOL P/4/16, 30th November 1792, p210
Report of the Mint
& Assay office
26-27th
Nov: 23,101 Rs silver; gold mohurs 1250 (=20,000Rs)
27-29th
Nov 48,549 Rs silver; Gold mohurs 2,000 (=32,000Rs)
29-30th
Nov: 30,030 Rs Silver; 750 gold mohurs (=12,000Rs)
Bengal
Consultations. IOL P/4/16, 3rd December 1792, p252
Report of mint
& assay offices
30 Nov to 1 Dec:
Silver 20,000Rs; Gold 1250 mohurs (=20,000Rs)
Bengal
Consultations. IOL P/4/16, 7th December 1792, p344
Letter from the
Mint Committee to Calcutta, dated
The Assay Master
at Moorshedabad having acquainted us that he has completed the necessary
arrangements for entering upon the new coinage, and that he has opened the
mint, we beg leave to recommend that the Collectors of Rajeshahy, Dingapore,
Purneah and burbhoom be instructed to remit all rupees excepting siccas to the
Collector of Moorshedabad, and that the Collector of Moorshedabad be directed
to forward them to the assay Master to be coined, together with all rupees,
siccas excepted, which may be tendered at his treasury.
Agreed
There is then a
list of items required from Europe for the Calcutta mint
Reports from mint
and assay office
3-4th
December: silver 25,000Rs; gold 1500 mohurs (=24,000 Rs)
4-5th
Dec: silver 25,000 Rs; gold 1000 mohurs (=16,000 Rs)
5-6th
Dec: silver 30,000 Rs; gold 1100 mohurs (= 17,600 Rs)
6-7th
Dec: silver 30,000 Rs; gold 1500 mohurs (=24,000 Rs)
Bengal
Consultations. IOL P/4/16, 17th December 1792, p449
Letter from the
Mint Committee to Calcutta dated
The machines and
implements necessary for commencing the coinage in the Dacca mint in the new method being completed we have
directed Mr Hughes, the foreman of that mint, to proceed with them to Dacca
without delay and beg leave to recommend that an escort of a Naik and six
sepoys be oredered to accompany the boats in which the above articles are laden
to Dacca.
We further request
that your Lordship in Council will be pleased to permit us to authorize the
Assay Master at Dacca to entertain on additional foreman and two filemen, and
that you will also allow us to apply to the managers of the orphan society for
two boys to employed in milling the coin in the Dacca mint, and to authorize
the Assay Master at Dacca to provide for their food and clothing in a suitable
manner, reporting the monthly expense which will be incurred for that purpose.
This was all
agreed
There then follows
a letter requesting that the Architect be ordered to provide a plan of the mint
together with any additional buildings considered necessary and the likely
cost. This was also agreed.
Next is a letter
requesting that Mr Hughes be again paid his annual bonus. This was agreed,
Next is a letter
(6th Dec) requesting that the establishment of the Calcutta mint be
agreed, which it was. This letter ends (p458)
…We have desired
Mr Miller to make such further reductions in the establishment employed under
the foreman Mr Spalding as may be practicable when the implements for the new
coinage are completed.
There is then a
detailed list of the establishment of the mint with an expanation by the Mint
Master (Mr Miller)
Report of the mint
& assay office (p487)
7-8th
Dec: silver 25,000 Rs; gold 1250 Mohurs (= 20,000 Rs)
8-9th
Dec: silver 50,000 Rs; gold 2500 mohurs (=40,000 Rs)
10-11th
Dec: silver 25,000 Rs; gold 1700 mohurs (=27,200 Rs)
11-12th
Dec: silver 11,000 Rs; gold 1850 mohurs (=29,600 Rs)
12-13th
Dec: gold 1500 mohurs (=24,000 Rs)
13-14th
Dec: silver 25,500 Rs; gold 2000 mohurs (=32,000 Rs)
14-15th
Dec: silver 25,500 Rs; gold 2000 mohurs (=32,000Rs)
15-17th
Dec: silver 37,000 Rs; gold 4000 mohurs (=64,000 Rs)
Bengal
Consultations. IOL P/4/16, 21st December 1792, p603
Report from mint
& assay offices
17-18 Dec: silver
25000 Rs; gold 2000 mohurs (= 32000 Rs)
18-19th
Dec: silver 16000 Rs; gold 2000 mohurs (= 32000 Rs)
19-20th
Dec: gold 2000 mohurs (=32000 Rs)
20-21st
Dec: gold 2000 mohurs (= 32,000 Rs)
There is then a
letter from the Mint Master explaining that the refining of some of the dollars
did not work properly and would require further work, which meant he had no
silver coin to mint. He requested more dollars from the treasury.
Bengal
Consultations. IOL P/4/16, 28th December 1792, p713
Report from mint
& assay office
22-24th
Dec: silver 50,000 Rs
24-26th
Dec: silver 13000 Rs
Bengal
Consultations. IOL P/4/16, 31st December 1792, p750
Report from mint
& assay office
26-28th
Dec: gold 2280 mohurs (= 36480 Rs)
Bengal
Consultations. IOL P/4/18, 4th January 1793, p42
Report of the Mint
& Assay Offices
29th
Dec: Silver 30,000 Rs
31st
Dec-1st Jan: Silver 65,000 Rs
2 Jan: silver
33,000 Rs
3 Jan: silver
35,000 Rs
Letter from George
Davidson, Assay Master at Dacca, to the Collector of Dacca, dated
Your Podars,
Tussildars and Treasurers must be embarrassed in receiving and giving credit
for Arcot rupees agreeable to the published table of their relative intrinsic
sicca value, but the difficulty would cease if you would procure the permission
of the Revenue Board to receive them under two classes: I, Calcutta and Madras
Arcot; II, Old and New French Arcots. Every hundred sicca weight of the first
should be received for ninety five sicca rupees four annas (S Rs 95-4). Every
100 sicca weight of the last for ninety six sicca rupees eight annas (S Rs
96-8). These two relative values would simplify the receipts and payments and
be sufficiently comprehensive for all the Arcot rupees in circulation in the
districts of Dacca, Chittagong, Tipperah and Momunsing, and I understand
likewise of Rungpore. One or two Dutch or Forshee Arcots are sometimes to be
met with in three or four hundred Arcot rupees, but very seldom in a greater
proportion.
The relative
values in the published table are calculated from assays rather high and
several of the denominations of rupees, but particularly the Arcot in
circulation in the Dacca and neighbouring districts do not contain so much
sicca standard silver.
The Zemindars,
Tulookdars, Farmers etc appear from my mint books for every hundred sicca
weight of Arcot rupees of the first class to have had credit at the public
treasuries of the four first districts which I have mentioned, from ninety four
sicca rupees six annas (S Rs 94-6) to ninety four rupees twelve annas (S Rs
94-12).
There is a new
species of Arcot rupee imported since the peace, from Madras, that are of
somewhat superior fineness of silver, but the quantity being small and no
superior value being put upon them in the bazars or among the shroffs,
Government has no reason for taking notice of them.
Sent the Mint
Committee for comments
Bengal
Consultations. IOL P/4/18, 7th January 1793, p73
Mint Master asks
for the remaining 15 chests of dollars
Bengal
Consultations. IOL P/4/18, 11th January 1793, p75
Reports from Mint
& Assay Office
5-7 Jan: silver
70,000 Rs
8 Jan 35,000 Rs
Bengal
Consultations. IOL P/4/18, 14th January 1793, p87
Reports from Mint
& Assay Office
9th Jan
35,000 Rs
Bengal
Consultations. IOL P/4/18, 17th January 1793, p180
Reports from Mint
& Assay Office
12-13 Jan 65,000
Rs
14 Jan 35,000 Rs
15 Jan 35,000 Rs
Bengal
Consultations. IOL P/4/18, 21st January 1793, p246
Reports from Mint
& Assay Office
17 Jan 30,000 Rs
18 Jan 20,000 Rs
19 Jan 20,000 Rs
Bengal
Consultations. IOL P/4/18, 25th January 1793, p283
Reports from Mint
& Assay Office
21-24 Jan silver
97,410 Rs; gold 46,176 Rs (=2886 mohurs)
Bengal
Consultations. IOL P/4/18, 28th January 1793, p323
Reports from Mint
& Assay Office
24-28 Jan silver
42,095 Rs
Bengal
Consultations. IOL P/4/18, 1st February 1793, No20, no page number
Reports from Mint
& Assay Office
28-30 Jan: silver
14,727 Rs; Gold 48,784 (=3049 mohurs)
30-31 Jan: gold
26,272 Rs (=1642 mohurs)
Bengal
Consultations. IOL P/4/18, 4th February 1793, p396
Reports from Mint
& Assay Office
31 Jan: gold
26,896 (=1681 mohurs)
1 Feb: silver
15,218 Rs: Gold 47,904 (=2994 mohurs)
Bengal
Consultations. IOL P/4/18, 8th February 1793, p421
Letter from the
Mint Committee to Calcutta, dated
The Assay Master
at Patna having informed us that he has completed the machinery for commencing
the coinage in the new method, we beg leave to recommend that the Collectors of
Behar, Shahabad, Tertoot, Sarum, Ramgur and Bogelepore be directed to send all
rupees not siccas which may be paid into their respective treasuries, to the
Assay Master at Patna to be coined into siccas
Agreed
Reports from Mint
& Assay Office
2-4 Feb: silver
15,590 Rs: gold 24,352 (=1522 mohurs)
4 Feb: silver
16,784 Rs: gold 47,4440 (=2965 mohurs)
5 Feb: gold 16,192
Rs (= 1012 mohurs)
Bengal
Consultations. IOL P/4/18, 11th February 1793, p466
Mint Master asks
for a treasury order to pay various bills including Rs6400 for mint buildings
6-10 Feb: silver
26,015 Rs: gold 69,200 Rs (=4325 mohurs)
Bengal
Consultations. IOL P/4/18, 15th February 1793, p487
Reports from Mint
& Assay Office
11 Feb: silver
27,675 Rs
12 Feb: silver
39,300 Rs
13 Feb: silver
70,390 Rs
Bengal
Consultations. IOL P/4/18, 18th February 1793, p546
Reports from Mint
& Assay Office
15 Feb: silver
30,845 Rs
16 Feb: silver
14,692 Rs
Bengal
Consultations. IOL P/4/18, 25th February 1793, p641
Reports from Mint
& Assay Office
21 Feb nothing
minted
Bengal
Consultations. IOL P/4/18, 1st March 1793, p680
Letter from the
Mint Committee to Calcutta dated
The Mint Master at
Calcutta having applied to us for an additional number of boys to be employed
in milling the coin, we beg leave to request thet your Lordship in Council will be pleased to authorize us to apply to
the managers of the orphan society for four boys for the above purpose.
Agreed
Reports from Mint
& Assay Office
23-27 Feb: silver
33,145 Rs
28 Feb: silver
23,450 Rs
Bengal
Consultations. IOL P/4/18, 4th March 1793, p729
Reports from Mint
& Assay Office
1-3 Mar: silver
29,300 Rs
Bengal
Consultations. IOL P/4/19, 11th March 1793, p17
4th March:
Gold struck 7952 mohurs (=127232 Rs)
5th
March: Silver 25,200 Rs
6th
March: Silver 25,964 Rs
7th
March: Silver 9700 Rs
8th
March: Silver 23,000 Rs; Gold 4200 mohurs (=67200 Rs)
9th
March: Silver 23,771; Gold 3178 (=50,848 Rs)
Bengal
Consultations. IOL P/4/19, 15th March 1793, p247
11th
March: Silver 1290; gold 327 mohurs (=5232 Rs)
12th
March: 0
Bengal
Consultations. IOL P/4/19, 18th March 1793, p272
15th
March: Silver 51,987 Rs
Bengal
Consultations. IOL P/4/19, 22nd March 1793, p302
Authorisation of
costs of Murshidabad mint requested (14th march)
Bengal
Consultations. IOL P/4/19, 29th March 1793, p424
Letter from the
Mint Master (James Miller) to Calcutta dated
From an experience
of the tediousness of the process of refining gold by cementation as practiced
by the native artificers employed for that purpose in the Calcutta Mint, I have
for some time past turned my thoughts to a consideration of the various methods
of refining that metal as practiced at different mints and in different mints
in Europe, with a view to form an opinion which of them had a claim to
preference on account of dispatch, facility of execution, and prospect of
success.
The gold sent to
the mint in dust, pagodas etc by English and other traders to different parts of
India, though not inconsiderable, comparatively forms but a small proportion of
the whole which is sent for coinage.But from the mode in use by cementation,
even this gold must generally lay in the mint from three to five months, or
more, before it can be returned to the proprietors in coin.
It is true that
the native merchants mostly refine their own gold and send it to the mint at,
or nearly, mohur standard, but the seems little cause to doubt that if the
process could be effected with certainty, and without delay, at the mint, they
would be glad to defray any extra expense attending it, so as to relieve them
from the trouble and uncertainty to which they are now liable in refining by
cementation at their own houses.
The shortening the
process therefore of refining gold becomes an object of the greater magnitude
that ever since the per centage was laid upon gold, on 22nd November
last, the receipts of gold bullion have exceeded the rate of forty lacks of
sicca rupees per annum, and that, so far from any appearance of diminution,
hitherto the receipts of the present month already exceed five lacks of sicca
rupees.
This indeed might
warrant a larger estimate of the probable annual quantity, but it mat doubtless
sanction the belief that in the course of a year the whole receipts of gold
bullion will exceed forty lacks of rupees, which, reckoning the duty at only 3
percent on an average, would alone produce a gain to the Company of one lack
and twenty thousand sicca rupees.
What I have said
will I trust sufficiently demonstrate the expediency of adopting every
practicable means of facilitating the process of bringing gold from a crude
state to that of coinage standard.
Even the greatest
advocates for the purification of gold by antimony admitthat it is attended
with many causes of difficulty, uncertainty and delay, and though this method,
as far as I can judge, would indeed be preferable to the tedious process by
cementation, I think there is reason to believe, from the inexpertness and want
of capacity in the natives who could be employed in this way of refining gold,
that the result would often occasion disappointment.
From all that I am
able to collect on the subject from books, and from conversation with
gentlemenwho have directed their attention to chemical pursuits, I find no
method of refining gold so universally practiced as that of quartation, or
parting gold by aqua fortis, the certainty of which operation appears to be
greater, and the difficulties less than by any other hitherto discovered.
As no country
therefore can be better calculated than Bengal for carrying on the manufacture
of nitrous acid, when all the requisites are at hand in abundance, saving the
stone, earthen and glass parts of an apparatus for the purpose of producing
that spirit in its purest state, I would humbly suggest to Your Lordship the
expediency of recommending to the Honble Court of Directors to send out with
the antimony they may think proper to furnish in consequence of former
application, all such parts of an apparatus as are used in the manufacture of
aqua fortis, in such number and quantity as may obviate the effects of breakage
during the voyage, or from any casualty that might occur after their arrival
before a fresh supply might be had, should it be found from experience that the
mode I have taken the liberty to suggest will answer.
These I believe
would chiefly consist of a sufficient number of stone and earthenware retorts
etc, glass receivers, tubes of communication, glass bottles with ground stoppers,
and glass funnels of sorts suitable to each of the requisite purposes, together
with a few small jars of pure linseed oil for lutes, in order to supply the
possible defiiency of that article in the market here.
I am not competent
to form an accurate estimate of the expense of the articles mentioned, but on a
gross conjecture I should not imagine they would amount to more than one
hundred pounds, and were they to cost twice the sum, I cannot doubt they would
repay the charge an hundred fold when compared to the expense the Company is
put to in the wages of natives hired for the purpose of refing gold by the
tedious operations of cementation.
I am also
persuaded that the furnaces lately constructed in the mint for the purification
of silver alone would become highly instrumental in the process of refining
gold by aqua fortis, and as there seems cause to believe that without large
importations of dollars from Europe, those furnaces are more than can be
necessary for the silver that may be sent to the mint, I imagine that little
further expense might be incurred than what has above been pointed out.
Agreed that a copy
of the Mint Master’s letter be sent to the Honble Court of Directors in the
Tartar packet, and that this request be referred to their favourable &
early consideration
Letter from the
Mint Committee to Calcutta dated 21st March
The Mint Master at
Calcutta having represented to us that the quantity of silver bullion now sent
to the mint for coinage is insufficient to employ the number of Dhurraps upon
his establishment, we beg leave to recommend that the Collectors of Burdwan,
Twenty Four Pergunnahs, Nudea, Higilie, Jumlook. Jelsore and Midnapore may be
instructed to remit all rupees out of the sicca specie which may be apid into
their respective treasuries to the Mint Master at Calcutta to be coined into
siccas.
This was approved.
18th
March: Silver 19,000 Rs; gold 3777 mohurs (=60,432 Rs)
20th
March: gold 2084 (=33,344 Rs)
22nd
March: silver 20,985 Rs
23rd
March: 0
25th
March: silver 2599 Rs; Gold 3849 mohurs (=61,584 Rs)
Bengal
Consultations. IOL P/4/19, 1st April 1793, p563
27th
March: silver 31,370 Rs; gold 2500 (=40,000 Rs)
28th
March: gold 166 mohurs (=2656 Rs)
Bengal
Consultations. IOL P/4/19, 5th April 1793, p654
1st April:
silver 32,325 Rs; gold 3949 (=63,184 Rs)
2nd
April: silver 7030 Rs
MM asks for and
gets authorisation for expediture of Rs7800 on mint buildings.
Bengal
Consultations. IOL P/4/19, 8th April 1793, p684
3rd
April: gold 4978 mohurs (=79648 Rs)
6th
April: 0
Bengal
Consultations. IOL P/4/19, 15th April 1793, p781
8th
April: silver 39,143 Rs
Bengal
Consultations. IOL P/4/19, 19th April 1793, p812
13th
April: gold 5109 mohurs (=81,744 Rs)
16th
April: gold 2225 mohurs (= 35600 Rs)
17th
April: silver 18,775 Rs; gold 150 (=2400 Rs)
Bengal
Consultations. IOL P/4/19, 22nd April 1793, p855
18th
April: gold 2257 mohurs (=36076 Rs)
Bengal
Consultations. IOL P/4/19, 26th April 1793, p884
22nd
April: gold 5753 mohurs (=92,048 Rs)
23rd
April: 0
24th April:
gold 4459 mohurs (=71,344)
Bengal
Consultations. IOL P/4/20, 1st May 1793, p68
26th
April: 0
27th
April: 0
Bengal
Consultations. IOL P/4/20, 3rd May 1793, p201
1st
May: silver 27513 Rs
Bengal
Consultations. IOL P/4/20, 6th May 1793, p217
2nd
May: gold 2060 mohurs (=32960 Rs)
4th
May: 0
Bengal
Consultations. IOL P/4/20, 10th May 1793, p261
[6th]
May: 0
Bengal
Consultations. IOL P/4/20, 17th May 1793, p286
MM asks for a
further Rs 5000 for running the mint and adding buildings etc. Agreed
7th
May: silver 21,390 Rs
11th
May: silver 33,570 Rs
13th
May: 0
Bengal
Consultations. IOL P/4/20, 24th May 1793, p326
15th
May: gold 6136 (=98,176 Rs)
20th
May: gold 6081 (=97,296 Rs)
21st
May: 0
Bengal
Consultations. IOL P/4/20, 31st May 1793, p461
23rd May:
silver 68,645 Rs; gold 5026 mohurs (=80,416 Rs)
27th
May: silver 4090 Rs
Bengal
Consultations. IOL P/4/20, 3rd June 1793, p128
Letter about a
group of 16 people caught forging coins in the hills of Bheerbhoom
Bengal
Consultations. IOL P/4/20, 7th June 1793, p174
30th
May: silver 49,035 Rs
3rd
June: 0
Bengal
Consultations. IOL P/4/20, 11th June 1793, p197
6th
June: silver 40,500 Rs; gold 4000 half mohurs (=32,000 Rs)
Bengal
Consultations. IOL P/4/20, 14th June 1793, p211
MM asks for a
furhther 11,000 Rs for running the mint. Agreed
10th
June: gold 6000 half mohurs, 8000 quarter mohurs
12th
June: Silver 10,680 Rs; gold 600 half mohurs, 5000 quarter mohurs
Bengal
Consultations. IOL P/4/21, 21st June 1793, No 2 (no page No)
13th
June: 7758 quarter mohurs
18th
June 0
Bengal
Consultations. IOL P/4/21, 24th June 1793, No 6 (no page No)
Letter from the
Mint Master (James Miller) to Calcutta, dated
I have had the
honor to receive your letter of this days date and have, in obedience to the
Governor General in Council’s commands thereby conveyed to me, bargained with
captain Marcos of the Potugueze ship not long since arrived, for the remainder
of his dollars, which he reckons at about one lack and seventy thousand sicca
rupees, at the rate of two hundred and thirteen sicca rupees per hundred
dollars.
I would therefore
request an order on the treasury in my name for the above mentioned sum of
170,000 sicca rupees to discharge the purchase as it comes due, and when the
delivery and receipt of the dollars are completed, an difference that may
happen between the amount of the order and them can be adjusted without
trouble.
Agreed.
Bengal
Consultations. IOL P/4/21, 28th June 1793, p245
20th
June: silver 31,690; gold 2730 mohurs, 1189 half mohurs, 1529 quarter mohurs.
Bengal
Consultations. IOL P/4/21, 1st July 1793, p272
Long letter from
the Mint Master explaining mistakes made in the assay and melting of gold and
the losses incurred as a result. This is followed by another letter about another
mistake with gold.
Than a letter
confirming that he has recived the gold from the Portuguese captain.
25th
June: silver 50,920 Rs; gold 251-8 mohurs (=4024 Rs)
Bengal
Consultations. IOL P/4/21, 5th July 1793, No7 (no page No)
29th
June: gold 1985 mohurs, 300 quarter mohurs
2nd
July: gold 1826 mohurs, 1900 quarter mohurs
4th
July: silver 30,000 rupees
Bengal
Consultations. IOL P/4/21, 8th July 1793, p365
MM requests a
further 8700 Rs for mint operating costs
5th July:
silver 47,030 Rs; gold 3944 mohurs
Bengal
Consultations. IOL P/4/21, 12th July 1793, p395
8th
July: silver 16,075; gold 2360 mohurs
Bengal
Consultations. IOL P/4/21, 15th July 1793, p
Only assay reports
Bengal
Consultations. IOL P/4/21, 22nd July 1793, p527
11th
July: silver 25,205 Rs
15th
July: silver 27,645 Rs; gold 859 mohurs (=13,744 Rs)
Bengal
Consultations. IOL P/4/21, 26th July 1793, p569
17th
July: silver 29,450 Rs; gold 4567 mohurs (=73,072 Rs)
Bengal
Consultations. IOL P/4/22, 2nd August 1793, p40
24th
July: silver 49185 Rs; gold 713 (=11,408 Rs)
29th
July: silver 39,355 Rs
1st
August: silver 8,700 Rs
Bengal
Consultations. IOL P/4/22, 9th August 1793, No 1 (no page No)
Minute of the
Governor General
By the regulations
for the mints, the Mint Master at Calcutta and the Assay Masters at Dacca,
Patna and Moorshedabad are directed to send their monthly accounts to the Mint
Committee and to correspond with them on all matters relating to the duties of
their offices.
The monthly
accounts of the mints are not only too voluminous and detailed for the members
of that Committee to give proper attention to them, consistently with their
other avocations, but from their want of practical experience in the business
of the coinage, they must necessarily be unable to form a judgemenmt of the
propriety of the numerous and complicated charges which they contain.
It is of the
utmost importance that the subordinate mints should be kept up at least until
the new coinage is completed, and also that the expenses of these mints should
be reduced as low as possible, constistently with the due conduct of the
business, and likewise that individuals should meet with no obstruction in
procuring their bullion and old monay to be recoined.
I would therefore
recommend that in future the duties of the committee be confined to reporting
their opinion upon any propositions that may be submitted to the Board,
respecting the general regulation of the coinage, and that superintendants of
the mints at Patna, Dacca & Moorshedabad be placed under the orders of the
Mint Master at Calcutta who, from his practical knowledge must be best able to
superintend the detail of the business of those mints, and on whose zeal and
integrity the Board can place the fullest reliance for the business being
conducted on the most economical footing.
I therefore
recommend the adoption of the following resolutions
That the duty of
the Mint Committee be confined to reporting upon such references as may be
occasionally made to them by the Board respecting the general regulation of the
coinage of the country, and to submitting any propositions on the subject which
may occasionally occur to them.
That the Mint
Master at Calcutta be directed to furnish him with his book of correspondence
whenever they may deem it necessary to call for it, or with any information
that they may occasionally require, and to allow them to visit the mint in
person whenever they may think necessary.
That the Mint
Master at Calcutta be directed to correspond on all matters, immediately with
the Governor General in Council, and not to consider himself under the orders
of the Mint Committee further than is directed in the preceding resolution.
That the Assay
Masters of Dacca, Patna & Moorshedabad be directed to correspond in future
with the Mint Master only, and to obey all instructions which they may receive
from him.
That the
Accountant General be directed to settle, in concert with the Mint Master, the
forms of the monthly accounts to be furnished by himself & the Assay Masters,
and the mode of auditing them, and submit any regulations respecting them that
they may think advisable for the consideration of the Board.
That the Mint
Master be directed to make it an object of his particular attention not to let
the expenses of the mint exceed what may be absolutely necessary for the due
conduct of the business.
That he invariably
report to the Board every deviation from the Regulations of 15th
& 20th June, 24th October, & 21st
November 1792, that may come to his knowledge in the course of his
correspondence with the subordinate mints, whether made by the Collectors or
their officers, or the Assay Masters, or any person whomsoever.
Agreed
Bengal
Consultations. IOL P/4/22, 12th August 1793, p170
Assay Masters at
Murshidabad (Mr Agg) & Patna (Mr Blake) ask for money to pay their
operating costs. Agreed.
There then follows
a letter from the Mint Committee pertaining to the mistake made in mixing
batches of gold before assaying each of them etc with recommendations of how to
prevent it. They also recommend that a deputy mint master be appointed at
Calcutta to help the MM in his new duties.
There then follows
many letters about the mistake and how to resolve it, ending with a new
definition of the respective roles of the Mint & Assay Masters.
2nd
August: silver 23,300 Rs
Bengal
Consultations. IOL P/4/22, 19th August 1793, p384
MM requests more
money for operating expenses. Agreed.
Bengal
Consultations. IOL P/4/22, 23rd August 1793, p411
Mint Committee ask
for money to be sent to Mr Agg at Murshidabad to pay mint bills. Agreed.
p411 start of
letters about the request of the paymaster general for the mint master to
produce two anna coins. The Mint Master states that this would be very
difficult. Ends up with the GG ordering an announcement repealing the law that
copper coins can only be used up to value to one anna and allows copper coins
to be used up to one rupee.
Bengal
Consultations. IOL P/4/22, 26th August 1793, No 7 (no page No)
20th
August: silver 7950; gold 4190 mohurs (=67,040 Rs)
Bengal
Consultations. IOL P/4/23, 2nd September 1793, p2
Letter from James
Miller to Calcutta, dated
Ramcaunt Ghose and
Dookiram Podar, the men who gave information of the coiners who were seized
some months ago amongst the jungles of Beerboom, having in a petition which has
been referred to the Mint Master, offered their services in apprhending people
who they represent as being employed in the fabrication of counterfeit coin,
within the town of Calcutta, districts of Burdwan, 24 Pergannahs, Kishinagur
and Chandernagore, I would humbly suggest to the Honble Board that the
magistrates of the several moffusil districtsabove mentioned be instructed [to]
furnish the said Ramcaunt and Dookiram with all necessary assistance in
apprehending and seizing such coiners as may be found therein, together with
their implements of coinage, in order that they may be tried by the judges of
circuit in their progress through the provinces. I would also beg leave to
suggest the propriety of the magistrates being informed that the certificates
of the Mint Master at Calcutta should be their warranty for the identification
of their persons on presenting themselves at the respective cutcherries of
those districts, and that the superintendant of police should be authorized to
furnish them with such sums as may appear to him to be reasonable for their way
charge, and other such purposes as were found necessary in their expedition to
Beerboom.
The Governor
General in Council observes that, however desirable the object is of checking
that unwarrantable practice of counterfeiting or debasing the established
current coins, and of bringing to punishment all persons concerned therein, he
does not think that the measures proposed by the superintendant of police would
be proper for the accomplishment of that end as they could not be adopted
without edxposing innocent individuals to the danger of being harrassed by
false allegation, an evil that can only be guarded against in the first
instance by obtaining a specification of the names and places of residence of
the persons alledged to be engaged insuch practices.
Ordered therefore
that the superintendent of police be informed that the Board think it necessary
previous to issuing any orders on the measures recommended by him for the
apprehension of persons residing in the 24 Pergannahs etc, and supposed to be
concerned in counterfeiting or debasing the established current coins, to
direct that he require Ramkaunt Ghose and Dookiram Podar to deliver in all the
particulars of the information they possess regarding the persons alledged by
them to be concerned in the practice in question, specifying the names and
places of residence of such persons, and to transmit the same to the Governor
General in Council for his consideration. They ar also to be informed that if
in consequence of the discoveries they have made, the parties should be
convicted of the crime imputed to them, Ramkaunt Ghose and Dookiram Podar
should be adequately rewarded.
26th
August: silver 24,643; gold 2008
Bengal
Consultations. IOL P/4/23, 6th September 1793, p34
From the Governor
General to the Mint Master, dated
I am directed by
the Governor General in Council to acquaint you that you are not to coin any
other divisions of a gold mohur, or rupee, than halves and quarters and that
all the gold bullion belonging to the Company that may be sent to the mint is
to be coined two-fifths into halves and remaining three-fifths into quarters of
gold mohurs until further orders.
The gold and
silver bullion sent to the mint by individuals either in whole or in part into
integers, halves or quarters, at the option of the proprietors.
You will be
pleased to issue the necessary order in consequence to the Mint Masters at
Moorshedabad, Dacca and Patna.
p38 –
Advertisement issued 6th September
Notice is hereby
given that after the 10th April 1794, corresponding to the 30th
Cheit 1200 Bengal style, the amount of copper coin recoverable and issuable in all
payments, instead of being one rupee in a hundred, will be restricted to the
fractional part of one rupee only, and all the officers of Government
throughout the three provinces intrusted with the receipt and disbursement of
money, are hereby injoined not to receive or issue in any payment, a greater
sum in copper coin than that in which the above mentioned fractional parts may
amount.
Bengal
Consultations. IOL P/4/23, 20th September 1793, p129
Mint Master asks
for another Rs9000 to cover running costs
16 September:
Silver 2800; 2360 half mohurs, 5400 quarter mohurs
Bengal
Consultations. IOL P/4/23, 27th September 1793, p197
18 September:
silver 5480; 100 half mohurs, 146 quarter mohurs
Bengal
Consultations. IOL P/4/23, 30th September 1793, p216
Lieutenant Burrows
offers his services as deputy to the Mint Master at Calcutta. Told that his
services are not curretly required but that he’ll be kept informed
Bengal
Consultations. IOL P/4/23, 4th October 1793, p237
24 September:
silver 65751
Bengal
Consultations. IOL P/4/23, 11th October 1793, p407
MM requests many
to pay the mint staff before the approaching holiday.
Bengal
Consultations. IOL P/4/23, 18th October 1793, p455
MM prodes accounts
for the whole of his first year in office. He also discusses refining of silver
and asks to be allowed to employ one Jubboo from Benares who has greater skills
than anyone else he knows. This is authorized.
Bengal
Consultations. IOL P/4/23, 25th October 1793, p637
Letter from James
Miller to Calcutta, dated
I have had the
honor to receive Mr secretary Hay’s letter of the 18th instant
informing me that the sub-treasurer had been directed to deliver over to me the
treasure lately arrived from Madras amounting to five lacks of pagodas, to be
coined into half and quarter mohurs, agreeably to the instructions sent to me
on the 4th instant.
I shall
accordingly proceed to the utmost of my power to carry the above order into
effect, but the duty I owe to government in return for the trust with which it
has honoured me, renders it incumbent on me to point out such disadvantages as
I apprehend would unavoidably result to the Honble Company from so large a
quantity of crude gold being consigned to the Calcutta mint at the same time.
In regard to the
coinage of this quantity of gold in a pure state, even into the small divisions
which have been ordered, it could be effected in a small portion of time when
compared to the inevitable delay which attend the process of refining gold,
especially of a nature so refractory as that of pagodas.
Yet were it not
that I find the natives seldom solicitous of availing themselves of the right
conveyed to them, of requiring coin of the smallest denomination in return for
their bullion, either gold or silver, the coinage of so large a quantity of
gold into half and quarter mohurs would considerably protract the gold coinage
of individuals, from which so considerable a revenue has been drawn since
Novemeber last in reduction of the expenses of the mint, and would therefore
too proabably induce them to give up the beneficial practice of refining gold,
and sending it to the mint ready for coinage.
Long prior to my
receiving the order of the 4th instant, I did not permit any part of
the establishment of Duraps to be idle, when I had it in my power to employ
them in forming half and quarter mohurs for the purposes of the general
treasury, or in compying with the few requests that have been made to me by
individuals for such a coin.
But since the
commencement of the milled silver coinage from and after the 31st
August last, the powers of the mint have been greatly abridged in regard to the
quantity of the whole coin that can be produced in the same time, even with a
considerable augmentation of dye-feeders, lever-men etc, because of the increased
quantity of labour which is required in the new silver coinage beyond what was
necessary in the old.
At present every
blank receives three blows, one from a concave dye, another from a collar dye
and a third from the letter dye, which compleats the coin, and between each of
those blows the same blank must be annealed to soften the silver so as to
prevent its cracking towards the edge, until which caution was observed, many
blanks were obliged to be wholly reformed.
In the old way of
coining silver, the duraps formed the blanks with a few careless blows of the
hammer, for, as they were not to be milled, it was of little consequence
whether they were perfectly round or not, and the diameter of the rupee was
chiefly determined by the force of the blow with which the impression was made,
and the ductility or hardness of the metal. But few blanks were spoiled in
comparison with those of the present coinage.
What I have said
will, I trust, be found to convey a fair representation of the general effect
of the commencement of the new coinage of silver.
Time and practice
will, no doubt, render the workmen more expert in each process, but from the
additional number of these, the deficiency which may happen from any accidental
cause in any one of them, will, for that day, occasion an equal deficiency in
the compleat coin produced.
I do not however
apprehend that the mint will at any time fall deficient in the delivery of the
largest quantity of integral coin in lieu of the bullion, gold and silver, that
may be sent to it, and as it must often happen that there would not be full
employment for the artificers in that way, I would humbly recommend to the
Honble Board that all such occasions should be taken for the purpose of coining
bullion into the fractional parts which have been authorized. On this subject I
need only add that about nearly the same number of whole and half gold mohurs
and sicca rupees may be produced in the same time, but that an equal number of
quarters cannot be expected, by which it would appear that it would require
double the time to produce an equal value in halves that would be requisite for
integral coin, and that the same value in quarters could not be produced in
less than a quintuple portion of time. I would here beg to be understood that I
speak of gold compared with gold, and silver with silver, for the duraps too
often fall short of the delivery of 300 mohur blanks although they generally
produce near 800 sicca rupee blanks per day from each docaun.
In regard to the very
tedious process of refining gold by cementation, which is the only method that
has hitherto been practiced or practicable in this country, I beg leave to
state the following facts and to submit to the consideration of the Honble
Board such observations as they have suggested to my mind.
Two long godowns
which were originally intended for the purposes of refining gold, and supposed
to be competent for any quantity that might be expected to come to the mint,
were completed some months ago, and for above one month were in full use. Yet
notwithstanding all the promises I received from the refiners, I at no time
could obtain from them so much as the produce of 5000 sicca weight of crude
gold in one month.
It has often
happened as at present is the case, that in constructing the new and in
clearing away the decayed buildings of the mint, I have been obliged to apply
some of the former to purposes for which they were not originally intended.
I am now
constructing two long ranges of docauns for the reception of the duraps, a part
of whom are therefore accomodated under a rush shed, and another part wholly
occupy one of the godowns intended as above for the purpose of refining gold. I
would indeed hope that in about a month from the present time I may be able to
remove the duraps from that godown into such part of the docauns as may be
completed. But after this shall have been effected, I cannot flatter myself
with being able to refine more than from 4500 to 5000 sicca weight of pagoda
gold in one month, if so much.
In the above case
therefore it appears that I could not reckon upon refining the whole quantity
of five lacks of pagodas weighing about one lack and fifty thousand sicca
weight in much less than three years, which, from the lapse of time employed in
the article of refining alone, would occasion a loss of eighteen months
interest upon the whole five lacks of pagodas.
I am yet
uninformed whether the provincial mints have been restricted from refining and
coining gold, or whether their not having done either proceeds from their not
having received any for those purposes.
But if the other
mints should be deemed competent for refining gold and producing it in coin a
standard value, I apprehend that each of them might be well employed in
refining and coining a portion of the above five lacks of pagodas, as it would
at least have the desirable effect of, in some measure, lessening the rate of
expense on the whole coinage they can produce.
I know not what
all or either of the provincial mints might be able to perform in this way, but
should it be the pleasure of the Honble Board so to employ them, I would lose
no time in obtaing and reporting the information that may be conveyed to me in
consequence.
Yet with all the
aid that I imagine can be expected from the other mints in this respect, I
should not on a gross estimate reckon that the whole five lacks of pagodas
could be reduced into coin in less [than] twenty months or perhaps two years
from the present time…
He goes on to
suggest that some of the pagodas should be sold to merchants who would refine
it themselves and then send it back to the mint for recoining.
The subject is
left to lie for consideration.
Bengal
Consultations. IOL P/4/24, 1st November 1793, p44
21st
October: silver 17,910; gold 1104 mohurs
26th October:
silver 16,151
29th
October: silver 318
Letter from the
Mint Master to Calcutta, dated
Being about to
despatch a considerable quantity of dyes to the mints at Moorshedabad, Patna
and Dacca, I beg leave to represent the propriety of their going under a
sufficient guard, and would request the favour of you to procure the necessary
orders for that purpose. I imagine that two or three would do for the dispatch
to Moorshedabad, who would proceed on to Patna, and two or three for the protection
of the dyes going to Dacca.
Agreed
Bengal
Consultations. IOL P/4/24, 8th November 1793, p72
Letter from the
Mint Master to Calcutta, dated 7th Novemebr 1793
States that he
can’t find anyone that will buy the pagodas, but has had an offer to refine some
of them at a charge of 1½ per cent. He suggests that this is accepted and
meanwhile he will refine what he can in
the mint. He has not yet found out if any of the other mints could refine any.
The Board replies:
…Ordered also that
he be informed that the Board considers the inconveniences attending the
coinage of the pagodas into halves and quarters of gold mohurs, a less evil
than the scarcity of these small coins, which, at present, so universally
prevails. They desire therefore that that the coinage may take place in the
manner directed in their order of the 4th ultimo previous to
authorizing the coinage of gold at the mofuussil mints. The Board desire the
Mint Master will require from the Mint Masters, information whether they have
the proper apparatus and means for refining and coining the gold into halves
and quarters, accompanying his reply with any other suggestions as may occur to
him upon this subject.
Bengal
Consultations. IOL P/4/24, 11th November 1793, No 13 (no page No)
MM asks for more
money for the running costs of the mint.
Bengal
Consultations. IOL P/4/24, 15th November 1793, p83
31st
October: silver 7673; gold 1153.5 mohurs
Bengal
Consultations. IOL P/4/24, 22nd November 1793, No 4 (no page No)
13th
November: silver 13,039
Followed by letter
from Mr Hughes asking for his annual bonus of 1200 rupees. Accompanied by at
letter from Mr Davidson at Dacca. This is confirmed.
Bengal
Consultations. IOL P/4/24, 29th November 1793, No 8
21st
November: silver 2,076
Bengal
Consultations. IOL P/4/24, 6th December 1793, No 24
4th
December: gold: 1449.5 mohurs, 3466 half mohurs, 5780 quarter mohurs
Bengal
Consultations. IOL P/4/24, 16th December 1793, No 23
6th
December: gold 1758 mohurs, 8364 half mohurs, 11184 quarters
10th
December: gold 140 half mohurs, 878 quarters
No 27 MM asks for
more money
Bengal
Consultations. IOL P/4/24, 20th December 1793, No 14
Letter from the MM
dated
The contractors
employed to refine the gold are doing a great job. Also the amount of gold that
can be refined in the mint has been increased and it should now only take about
5 months to refine the pagodas from Madras. As to the other mints, they don’t
appear to have any experience in refining gold and now that it can be done in 5
months, perhaps it doesn’t matter.
Bengal
Consultations. IOL P/4/24, 23rd December 1793, No 2
13th
December: silver 3502; gold 485 mohurs, 5559 half mohurs, 6008 quarters
21st
December: silver 142; gold 20 mohurs, 309 halves, 5354 quarters
Bengal
Consultations. IOL P/4/26, 3rd January 1794, p171
23rd
December: gold 4325 half mohurs, 4829 quarters
31st
December: gold 212 halves, 3688 quarter mohurs
Bengal
Consultations. IOL P/4/26, 6th January 1794, p196
2nd
January: gold 6630 halves, 6816 quarters
Bengal
Consultations. IOL P/4/26, 13th January 1794, p239
6th
January: silver 10,668 Rs; gold 946 mohurs, 2055 halves, 3398 quarters
Bengal
Consultations. IOL P/4/26, 17th January 1794, p207
Letter from MM
requesting more money for mint operations
Bengal
Consultations. IOL P/4/26, 20th January 1794, p361
10th
January: gold 11400 halves, 18200 quarters
13th
Januray: gold 32 mohurs, 1057 halves, 3908 qaurters
17th
January: silver 3000 Rs; gold 400 halves; 400 quarters
There then follows
a letter from James Miller, the Mint Master, dated, 18th January,
detailing the monthly costs of building the new mint, which amounted to just
over 50,000 Rs
Bengal
Consultations. IOL P/4/26, 24th January 1794, p413
20th
January: gold halves 1000, 4000 qaurters
Bengal
Consultations. IOL P/4/26, 27th January 1794, p655
21st
January: silver 16631; gold 901 mohurs, 1830 half mohurs, 4200 quarters
Bengal
Consultations. IOL P/4/26, 31st January 1794, p685
27th
January: silver 475; gold 4000 halves, 4000 quarters
28th
January: silver 647; gold 40 mohurs, 655 halves, 4500 quarters
Bengal
Consultations. IOL P/4/26, 7th February 1794, p735
Letter from Robert
Blake, Assay Master at Patna, to James Miller, dated
Herewith I have
the pleasure to enclose for your approval the monthly account for this mint for
Novemeber & December. I hope now my health is restored that they shall in
future be transmitted to you at the regular times.
I now find that
individuals begin to send their old coins and bullion to the mint and that
large sums are coming in from the Collectors. Under this consideration I again
take the liberty of representing the insufficiency of the invalid guard
stationed here for the protection of the mint. That from their infirmity and
length of time that they have been on the same duty they are become totally
useless and the losses which I suffer for the want of a proper guard is very
considerable.
I have to request
the favor of your making application to Government for the furnishing a guard
of regular sepoys for the duty of this mint, that for the purpose of conducting
this business I am of opinion that it will require full twenty men.
Miller passed on
the request, which was to lie for consideration
Bengal
Consultations. IOL P/4/27, 10th February 1794, p33
Letter from the
Mint Master to Calcutta, dated
As the resolutions
of the Governor General in Council of the 12th August last, by which
the provincial mints were put under my superintendance and instructions, directed
that I should personally visit those mints annually and proceed upon the first
visit as soon as all the machines and appartatus necessary for the new gold and
silver coinage might be completed, I now deem it my duty to submit the
following circumstances to consideration that I might be honored with your
commands in consequence.
The buildings then
constructing in the mint have lately been completed agreeably to the plans
drawn by the Civil Architect, as reported in my address to the Honble Board of the
18th ultimo, and therefore so far as relates to the business of the
new coinage, I consider the mint to be in a capacity of producing any quantity
of coin that there is ground to imagine there will be any occasion to require
from it.
…
In regard to the
coinage itself, I have to observe that very small quantities of silver, for
many months past, have come to the mint, either on account of the Company or of
individuals, and that exclusive of the star pagodas some months ago imported
from Fort St George, the same observation applies to gold. Of these pagodas
about two thirds of the whole have been refined, coined and sent to the General
Treasury and, much beyond my first expectation, I have every reason to believe
that the whole will be completed by the 10th or 15th of
the ensuing month.
He then goes on to
say that he could now visit the other mints, leaving Calcutta in the charge of
a Mr Smyth. However, he would have to travel by raod and it might be better to
wait for the rainy season so that he could travel by boat.
Bengal
Consultations. IOL P/4/27, 14th February 1794, p183
MM asks for more
money for mint operations.
29th
January: silver 7424; gold 4000 halves, 1000 quarters
10th
February: gold 1069 mohurs, 5000 halves, 16000 quarters
Bengal
Consultations. IOL P/4/27, 24th February 1794, p285
Letter from the
Accountant General to Calcutta, dated
Gold seems to be
more accepted in the up-country areas, so he suggests that 50,000 rupees worth
of mohurs, halves and quarters (1/3rd of each) be sent to the Bihar
treasuries
14th
February: gold 1400 halves, 7200 quarters
15th
February: 25 mohurs, 7400 halves, 13,200 quarters
Bengal
Consultations. IOL P/4/27, 28th February 1794, p322
21st
February: gold 7000 halves, 11,000 quarters
Bengal
Consultations. IOL P/4/27, 3rd March 1794, p363
Letter from the
Mint Master dated 26th February about the costs of the extra
buildings for the mint.
Letter from George
Davidson(Assay Master at Dacca) to James Miller, dated 22nd February
1794.
The Judges & Commercial
Residents at Dacca have repeatedly applied to me since the Collector issued
their salaries and establishments in gold, to coin their mohurs into halves
& quarters, to enable them to pay the salaries of the inferior servants of
their establishments, but not having the orders of Government, I could not
comply with their request.
The circulation of
the gold is an object of importance to Government & the public, & is
only to be promoted & facilitated by a large proportion of the smaller
divisions of the coin. I therefore request that you will submit to the Governor
General in Council, the propriety of permitting me to coin the unmilled
Calcutta gold mohurs into the lesser divisions when required by the holder of
them.
I hope when
Government grants this permission, you will furnish me with the necessary dies.
Having not had any
accounts from you relative to the orphan boys for milling the coins, I suppose
fit and proper ones were not to be got. If the Governor General in Council
would permit me to employ a fit and proper European for executing the milling
part, I could procure one at an equal or less expense than the orphan boys,
& who would be sufficiently able to mill all the gold and silver coinage of
the Dacca mint.
The flattening
mill, cutters & all the machinery for milling gold or silver are and have
been ready for some time, and the orphan boys only have delayed my using them.
I would prefer the
European I alluded to, or such another, to the boys for several reasons.
This was sent to
the Calcutta Council and the Mint Master at Calcutta was asked to enquire how
much small gold coin could be prodiuced at Dacca in a month. It was agreed that
he be allowed to employ a European at
Bengal
Consultations. IOL P/4/27, 7th March 1794, p402
3rd
March: gold 4393 halves, 7736 quarters
Bengal
Consultations. IOL P/4/27, 14th March 1794, p578
Letter from James
Miller to Calcutta, dated
I beg leave to
submit to you copy of a letter which I have received this day from the Assay
Master at Dacca.
From this it
appears that he does not expect the quantity of gold to be coined into half and
quarter mohurs would require any addition to his present establishment of
Duraps, artificers etc, and as he refers to this mint for the loss of meeting
such gold and forming the blanks, the former is at the rate of one anna per
cent, and the latter at 6 pyce per cent. Hence it would seem that if the gold
coinage at Dacca can be rendered as perfect as it is from the Calcutta mint,
the expence in reducing the old unmilled gold mohurs into the smaller divisions
can be no great object.
If therefore the
authorising the coinage of small gold at Dacca shall be found a salutary
measure, I conceive it would be eligible in the same degree at the mints of
Patna and Moorshedabad, and in this case I would recommend that each of the
mints might be authorized to coin either whole, half or quarter gold mohurs at
the requisition of the proprietors, so long as it can be performed on the same
terms as by the Assay Master at Dacca, and should there be a demand for more
gold coinage then the present numbers might be able to effect, that each Assay
Master shall be instructed to represent the same for the information of the
Honble Board without delay.
There then follows
the letter from Dacca.
This is all agreed
by the Board.
7th
March: gold 3050 half mohurs, 5640 quarters
Bengal
Consultations. IOL P/4/27, 19th March 1794, p653
Letter from MM (17th
March) about the new buildings
Than a letter
sking for more money for operating the mint
12th March:
silver 4230 half rupees, 5000 quarters; gold 8500 halves, 15000 quarters
Bengal
Consultations. IOL P/4/27, 31st March 1794, p799
18th
March: gold 219 mohurs, 5947 halves, 10,216 quarters
24th March:
silver: 3000 halves, 7600 quarters; gold 4378 halves, 8382 quarters
Bengal
Consultations. IOL P/4/28, 7th April 1794, p71
28th
March: silver 10,000 halves, 14,000 quarters; gold 185 mohurs, 663 halves, 3292
quarters
3rd
April: silver 341 rupees, 350*2 halves, 1452.5*2 quarters; gold 1600 halves,
3200 quarters
Bengal
Consultations. IOL P/4/28, 21st April 1794, p315
Long letter from
the MM about the way in which the provincial mints should submit their
accounts. Each mint was to be given a monthly credit cover their costs: 6000 Rs
for Dacca; 3000 for Patan; 3700 for Murshidabad
Calcutta MM then
askes for money to cover his costs.
Bengal
Consultations. IOL P/4/28, 5th May 1794, p734
Long letter frm MM
about the comparative costs of the three subsidiary mints. It includes the
value of the output of each mint, by month, for the six months Sep93-Feb94
|
|
Dacca |
Patna |
Murshidabad |
|
Sep93 |
201,900-8 |
39,416 |
49,076-5-2 |
|
Oct |
204,221-11 |
24,413-8 |
110,456-3 |
|
Nov |
92,120-13 |
11,267-13 |
105,810-14-10 |
|
Dec |
78,330-13 |
54,700-14 |
69104-6-9 |
|
Jan 94 |
150,955-8 |
176,222-4 |
122,836-9-6 |
|
Feb |
75898-5 |
108,105-2 |
|
Bengal
Consultations. IOL P/4/28, 12th May 1794, p871
Extract of a
letter from the Assay Master at Patna, dated
I beg leave to
represent to you an evil that exists at this place that in my opinion ought to
be laid before Government. This is the great scarcity of copper coin which is
at all times in great demand in this quarter, and the currency of it better
established than in most other parts of the country. At present the dearth is
such that only twelve annas or forty eight pice can be procured for a rupee.
Whether this dearth proceeds from a rwal scarcity or monopoly I cannot readily
find out, but in consequence of applications from all the pricipal merchants to
the mint for a supply of pice, and at the request of the magistrate, I have
coined a few sheets of copper into pice and have encouraged the propagation of
a report that a large quantity of copper is coming from Calcutta for the
coinage of pice here, with a view of opening the hoards if the scarcity
proceeds from monopoly, but this has not had the desired effect.
Should you think
proper to represent this business to the Governor General in Council, I am
opinion that one fly-press and two cutting machines to be employed at the
leasure (sic) intervals of the other coinage, would very soon furnish a
sufficient quantity of pice to reduce the price to 16 annas per rupee, [and]
that I will with much pleasure undertake the business on account of Government
Extract of a
letter from the Mint Master to the Patna Assay Master, dated
In regard to what
you say of copper pice, I am most fully convinced of the entire rectitude of
your intention on that subject, but I must strenuously dissuade you against the
shortest prosecution or repetition of the trial you mention to have made in
regard to pice, either at the instance of principle merchants or any other
sanction whatsoever that comes not duly authorised from the hand of Government.
I beg you to do me
the justice to consider this admonition as proceeding from the justest
priciples of propriety and the sincerest desire to preserve you from censure,
for which reason I cannot entertain a doubt of your paying as much attention to
it as if I had employed stronger terms in which to express myself on this
occasion.
You may however
rest assured that I shall make such use of the intimations you have given me on
this article as may appear to be most conducive to public utility and in
addition to the information with which you have forwarded me, I would request
you to lose no time in stating the weight, intrinsic and nominal value, and
place of coining of the copper pice current in your district; of how many sorts
they may consist, and how many of each sort (if more than one) go current for
the sicca rupee. I would also particularly desire you to apprise me what are
the different prices of copper of each sort in the neighbourhood of your mint;
how much of each sort you may be of opinion could be brought up from the
publickly understood state of the markets; and which sort of each kind you
would recommend in preference to others for the coinage of pice. Also of what
weight each copper coin should be, which in circulation may represent the value
of half an anna sicca, or six pye according to the English mode of account, and
whether you think 32 or 64 to the rupee would form the most convenient and
suitable copper coin for circulation.
In so doing you
will doubtless have regard to the difference you would recommend between the
intrinsic value, agreeably to the market price, and the nominal value in
circulation, with such reasons as in any way may influence your judgement on
the subject.
As I have no
desire to conceal any matter that can on any wise be necessary to your
information, I am to apprise you that Government have for some time past had in
contemplation the subject of a copper coinage, but hitherto it has not been
determined upon.
Your
communications may therefore be highly useful in answer to the querees above
proposed, but I need scarcely after this intimation on my part, urge the
necessity of confining it to yourself alone, as the promulgation of such
intention would tend to influence the price of copper, and enable individuals
to take advantage of the moment. Hence I conceive it would be perhaps more
politic rather to discourage rather than to encourage an expectation of the
adoption of that measure.
Letter from the
Mint Master to the Patna Assay Master, dated
Upon further
consideration of the subject of that part of my letter yesterday which relates
to copper pice, I conceive it would enable Government to form a more compleat
judgement of the sort of copper coin that should be adopted, if you would
immediately send down one pice of each sort that circulates in your
neighbourhood, as also of those which you mention to have struck off at your
mint (and which to guard against the consequences of the possible miscarriage
of my letter) I have repeat must be instantly discontinued. These coins I
should suppose might be send by one or two dawks at most.
P922 Mint Report
5th
April: silver 22,216 rupees, 6150 halves, 10,200 quarters; gold 774 mohurs, 500
halves, 587 quarters
29th April:
gold 3266 mohurs, 2035 halves, 2792 quarters
Bengal
Consultations. IOL P/4/28, 19th May 1794, p927
Minute of the
Governor General
Mr Harris has been
appointed to the Salt Agency at Chittagong and has trained Mr Bille in the
skills of assaying. Mr Bille is appointed Assay Master
Bengal
Consultations. IOL P/4/29, 2nd June 1794, p83
Letter from MM
about the cost of refining all the Madras pagodas and producing mohurs and
fractions. Agreed that it’scheaper to get this sort of large amount refined by
contractors, rather than in the mint
P109. Letter from
Blake at Patna to James Miller, dated
I was yesterday
favoured with your letter of the 8th this morning with another of
the 9th instant. As I have it in my power to furnish you with all
the information you required regarding the copper coin, I shall reply to that
part only in order that you may receive it by return of the dawk.
I am greatly
obliged by your observations stated in the 7th and 8th
para of your letter of the 8th instant. I beg to assure you that I
have been particularly cautious in this trasaction not to expose myself to
censure by extending it beyond the limits of an experiment and this not
exceeding ten maunds. I find that the pice coined by Mr Prinsep is held in most
esteem here, musters of which I send you. There sre half and quarter annas 32
& 64 per a rupee, and the only copper coin in circulation in this quarter
coined under the sanction of Government. Their intrinsic value as a coin is
seldom lower than 70 small or thirty five large for a rupee, and I find that 32
half annas or sixty four quarters weigh 38 sicca weight, or half a seer of the
Patna weight. Hence a maund of copper will coin into eighty sicca rupees.
Thepresent price
of copper at this place is 44 to 45 sicca rupees per maund of 76 sicca weight
per seer. The sort which I think the fittest for the copper coinis the sheets
of the thickness of the half anna piece. Of this about 500 maunds can be
procured here together with 500 maunds of the thickness of half an inch, which
would require some labour to laminate into strips before it is cut into blanks.
I am opinion that
the copper coin being cut into blanks with the cutting machines and struck in a
fly-press with a guide or register (in the manner the accompanying musters were
struck) will be as great a check to the natives counterfeiting the copper coin
as the milling is to the rupee.
The accompanying
musters, 1, 2, 3, 4, pass current as single pice with a batta of one anna on
the rupee worse than those coined by Mr Prinsep. The state of this coin is such
as I doubt not will point out the necessity of its being reformed. From every
information I can obtain, I find that four parts out of five of the copper coin
in circulation in this quarter is of the kind muster 1, 2, 3, 4, and this time
no more than 54 to 56 per a rupee in the country, but at Patna, where Mr
Prinsep’s new pice only are current, they are not to be procured at any rate.
The Board entirely
disapprove of the conduct of Mr Blake in coining pice without previous
application or authority and direct that the Mint Master be instructed to
inform him if any pice should remain unissued by the Assay Master at Patna,
that they be withheld from circulation.
14th
May: silver 3890 rupees, 24,000 halves, 3800 quarters; gold 3886 mohurs, 360
quarters
Bengal
Consultations. IOL P/4/29, 13th June 1794, p271
26th
May: silver 58,722 halves, 16,060 quarters; gold 1895 mohurs, 352 quarters
2nd
June: silver 9432 rupees, 35,500 halves, 9,072 quarters; gold 88 mohurs
Bengal
Consultations. IOL P/4/29, 16th June 1794, p347
9th
June: silver 2000 rupees, 79,300 halves, 16,800 quarters
Resolution of the
Revenue Department dated
The Governor
General in Council, taking into consideration the above letters, observes that
similar representations have been received from other parts of the country of a
want of a sufficient number of the nineteen sun sicca rupees, to make them the
only legal tender of payment, and as the attempting to enforce this part of the
regulations until a sufficient quantity of that species of coin has been
introduced into the circulation, would be the source of much inconvenience and
oppression to individuals, he resolves to postpone to the 10th April
next the operation of that part of the thrity fifth regulation passed in 1793,
by which the receipt of any rupees
excepting siccas of the nineteenth sun is prohibited from the 10th
April last, and that in the meantime rupees of sorts be received in payment of
the public revenue under the rules which were in force prior to the last
mentioned date.
Bengal
Consultations. IOL P/4/29, 23rd June 1794, p441
Letter from the MM
about having refined the gold pagodas.
P453 14th
June: silver 17,560 rupees, 4350 halves; gold 1015 mohurs, 1084 quarters
Bengal
Consultations. IOL P/4/29, 30th June 1794, p499
Advertisement
issued on
Declaring that all
sorts of rupees will be accepted until
Bengal
Consultations. IOL P/4/29, 14th July 1794, p664
MM asks for more money
for the mint operations
Bengal
Consultations. IOL P/4/29, 28th July 1794, p883
MM (who has been
ill for some time) gives rates at which contractors will refine gold
Bengal
Consultations. IOL P/4/30, 4th August 1794, p28
Minute discussing
the costs of the provincial mints. The MM should revise the establishments.
P37. 17th
June: silver 3412 rupees, 19,462 halves, 9296 quarters; gold 2939 mohurs, 275
halves, 208 quarters
Bengal
Consultations. IOL P/4/30, 8th August 1794, p101
James Miller
requests a short leave of absence following his illness (7th
August). This is granted. Mr Francis Smyth will be in charge during his
absence.
Bengal
Consultations. IOL P/4/30, 11th August 1794, p185
Discussion of how
silver that needs refining should be paid for, particularly in the Murshidabad
mint.
Also a request
that a medical person should be assigned to look after the boys in the Calcutta
mint
Bengal
Consultations. IOL P/4/30, 22nd August 1794, p245
30th
July: silver 19,813 rupees, 18220 halves, 2544 quarters; gold 5514 mohurs, 354
halves
Bengal
Consultations. IOL P/4/30, 8th September 1794, p433
MM asks to add
more rooms to the mint. Asked to provide an estimate of the costs.
Bengal
Consultations. IOL P/4/30, 15th September 1794, p493
MM asks for money
for operating costs of mint
Bengal
Consultations. IOL P/4/30, 22nd September 1794, p519
MM says that he
doesn’t have the knowledge to provide an estimate for the new buildings. The
Civil Architect is directed to help
Bengal
Consultations. IOL P/4/30, 29th September 1794, p560
20th
August: silver 1794 rupees, 8684 halves, 15652 quarters; gold19,849 mohurs, 56
halves, 55 quarters
Bengal
Consultations. IOL P/4/30, 17th October 1794, p635
Letter from MM
about refining gold
Bengal
Consultations. IOL P/4/30, 20th October 1794, p659
Letter from the
Mint Master to Calcutta, dated 15th October 1794.
Long letter
discussing the various accounts received from the subsidiary mints. One result
is that the Assay Master at Patna has not been paid his salary and commission since
he started the job. He is therefore due to receive Sa Rs 38,860-1-6 for
employment between 1st October 1790 and 31st July 1794..
The Assay Master at Murshidabad is also owed Sa Rs 28,996-0-7.
Appendices
starting on p723
Letter from George
Davidson, Assay Master at Dacca, to James Miller, dated
In the third
paragraph of your letter of 8th August, you desire me by the
directions of the Governor General in Council to explain and particularise the
following charges in my accounts from the 1st September 93 to the 30th
April last.
1st.
The charges of 4 annas per cent on the silver refined.
2nd the
allowance of 14 annas per cent for melting and forming the planchets.
3rd the
Assay Master’s commission @ 4 annas per cent.
I beg leave to
observe for the information of the Governor General in Council, that when I
commenced coining in the Dacca mint, I had hardly any refiners who understood
the business, and the few who knew a little of it would not work under 4 annas
per cent, the merchants in the town paying them nearly at that rate.
In the two first
months I only paid two annas six pice per cent, but was every, or every other,
day obliged to send some of them to the magistrate of Dacca, to be punished for
stealing. At last they told me that they must steal the silver, or they could
not work for the wages I allowed them.
The labor was
considerable and to unskilled hands the pay not great. Five men were generally
employed for five days in refining, cleaning and working of the nearah of two
thousand sicca weight of bullion, for which they received five rupees, or at
the rate of 3 annas 2 ½ pice nearly, each man per day, and frequently, after
the assay was made, were obliged to refine some of the cakes again without any
allowance.
Since my refining
furnaces were finished, this charge is reduced, and when the refiners are
somewhat used to them, may admit of a further reduction.
The allowance for
melting and for forming the planchets, was charged by the directions of Mr
Harris, late Mint Master in Calcutta, agreeably to the regulations of
Government December 31st 1788.
Altho’ this
allowance was ample enough, yet my melters and dhurrops were so inexpert in
their offices, that what by breaking crucibles, owing partly to their
incapacity, and partly to the quality of the Dacca clay, and what by stealing
and embezzling, it was a very considerable time before I could bring them to
work within the allowance.
This charge was
made solely upon the sum coined, and never any made upon melting musters, or remenlting
any part of the bullion.
The Assay Master’s
commission at 4 annas per cent was made by the directions of Mr Harris.
Letter from George
Davidson at Dacca to James Miller, dated
The amount of the
monthly coinage of the Dacca mint since September 1791 when it was opened to
|
Sicca Rupees |
||
|
1791 |
Sep |
14,982 |
|
|
Oct |
104532-11 |
|
|
Nov |
144,196-5 |
|
|
Dec |
248,262-11 |
|
1792 |
Jan |
168,449-6 |
|
|
Feb |
127,610-11 |
|
|
Mar |
159,734-1 |
|
|
Apr |
108,489-7-3 |
|
|
May |
12,048-12 |
|
|
Jun |
241,985-14 |
|
|
Jul |
168,283-10 |
|
|
Aug |
141,595-9 |
|
|
Sep |
173,737-15 |
|
|
Oct |
379,615-1 |
|
|
Nov |
295,004-11 |
|
|
Dec |
94,268-3 |
|
1793 |
Jan |
226,867-4 |
|
|
Feb |
234,448-0-9 |
|
|
Mar |
174,701-1 |
|
|
Apr |
111,115-6 |
|
|
May |
35,320 |
|
|
Jun |
43,977-10 |
|
|
Jul |
114,212-11 |
|
|
Aug |
124,201-12 |
|
|
Sep |
201,900-8 |
|
|
Oct |
204,221-11 |
|
|
Nov |
92,120-13 |
|
|
Dec |
78,370 |
|
1794 |
Jan |
150,955-8 |
|
|
Feb |
75,898-5 |
|
|
Mar |
60,604-9 |
|
|
Apr |
12,142-5 |
|
|
May |
12,673-7 |
|
|
Jun |
7,466-1 |
|
|
Jul |
64,299-11 |
|
Total |
4,608,255-3 |
|
|
Gold mohurs |
||
|
1794 |
May |
71-2-5 |
|
|
Jun |
66-15-5 |
|
Total |
138-1-10
(=2,209-13 Rs) |
|
Letter from Robert Blake,
Assay Master at Patna, to James Miller, dated August 1794
|
Sicca Rupees |
||
|
1793 |
Jan |
1,448-15 |
|
|
Feb & Mar |
1,910-8 |
|
|
Apr |
84.267-11 |
|
|
May |
132,651 |
|
|
Jun |
137,221-12 |
|
|
Jul |
31,865-4 |
|
|
Aug |
1,409 |
|
|
Sep |
51,016 |
|
|
Oct |
24,413-8 |
|
|
Nov |
67,467-13 |
|
|
Dec |
54,700-14 |
|
1794 |
Jan |
176,222-4 |
|
|
Feb |
108,105-12 |
|
|
Mar |
145,395-9 |
|
|
Apr |
155,113-15 |
|
|
May |
52,462-8 |
|
|
Jun |
44,225-5 |
|
|
Jul |
33,820-10 |
|
Total |
1,303,718-4 |
|
Letter from James Agg, Assay
Master at Murshidabad to James Miller, dated
|
Sicca Rupees |
||
|
1792 |
Nov |
78,999-9-6 |
|
|
Dec |
118,267-0-9 |
|
1793 |
Jan |
155,330-10-3 |
|
|
Feb |
210,844-14-11 |
|
|
Mar |
169,136-14-3 |
|
|
Apr |
76,094-10-5 |
|
|
May |
47,221-8 |
|
|
Jun |
45,837-3 |
|
|
Jul |
66,903-12-7 |
|
|
Aug |
70,401-10-1 |
|
|
Sep |
49,076-5-2 |
|
|
Oct |
110,456-3 |
|
|
Nov |
105,810-15-10 |
|
|
Dec |
69,104-6-9 |
|
1794 |
Jan |
87,133-13-4 |
|
|
Feb |
122,836-9-6 |
|
|
Mar |
137,057-14-7 |
|
|
Apr |
98,914-13-5 |
|
|
May |
191,134-3-4 |
|
|
Jun |
157,376-12-10 |
|
|
Jul |
61,189-10-8 |
|
Total |
2,229,129-10-2 |
|
Bengal
Consultations. IOL P/4/30, 24th October 1794, p773
27th
September: silver 2082 halves, 2612 quarters; gold 9027 mohurs
Bengal
Consultations. IOL P/4/30, 3rd November 1794, p852
21st
October: silver 14,450 halves, 12,800 quarters
29th
October: silver 32,100 halves, 28,200 quarters
26th
October, Mr Benjamin Hughes asks for his annual bonus. This is agreed
Bengal
Consultations. IOL P/4/30, 7th November 1794, p907
MM asks for money
to pay for mint operations
Bengal
Consultations. IOL P/4/30, 10th November 1794, p919
3rd November:
19050 halves, 65,700 quarters
Bengal
Consultations. IOL P/4/30, 14th November 1794, p926
Letter and
accounts from Mr Harris after he has left the mint
Bengal
Consultations. IOL P/4/30, 21st November 1794, p954
Letter from James
Agg (Murshidabad) to James Miller, dated
I have been
favoured with your letter of the 10th instant enclosing 5 papers
containing musters of pieces and whole rupees, which have been found defective
in the forming and coining. I am truly ashamed that such defective rupees
should by any means have got out of the mint, but am quite at a loss to account
for how they could have come into circulation, as I have always directed the
coins to be particularly examined as it comes from the stamping room, and all
defective coin to be remitted as some of the blanks must naturally have flaws
in them as it is impossible to cut a number of pieces of silver so that each
shall be exactly a sicca weight in one piece.
One reason may be
assigned why the blanks may have been less perfectly formed than formerly,
which is the great mortality that has taken place amongst the workmen on the
Durap Connah at this mint. Such numbers have died that of course many new
workmen must have been employed and at this time such a general sickness
prevails amongst all description of people at this city that it is with the
greatest difficulty that I can keep going on with the business of the mint at
any rate, for want of workmen.
He is told to make
sure that it doesn’t happen again.
10th
November: silver 7800 rupees, 750 half rupees, 28600 quarters; gold 9397 mohurs
Letter from the
Assay Master at Calcutta, Mr Belli, to Calcutta, dated
I take the liberty
of troubling you with a representation which, at your leisure, I request the favor
of your prefering to the Honble the Governor General in Council.
The apparatus
belonging to the assay office and laboratory, continually wanting some trifling
repairs, should be attended to with an accuracy and skill beyond any which can
be found under the inspection of a native artificer.
I have been
credibly informed, sir, that at the Assay office in the Tower, there is a
servant belonging to it whose peculiar business it is to superintend the care
of the apparatus. This office is called the foreman of that department. He
expressly has under his charge the flattening mills, and it is his duty also to
attend of the flattening mills of the assays, an operation that requires great
care and nicety and is of considerable importance to the security of an accurate
assay.
Mr Spalding, whose
mechanical abilities are probably the first in this country, would undertake
this duty in addition to those which he is at present employed on, I believe
for a very moderate consideration. I apprehend he would be well satisfied with
an increase to his present allowances of one hundred and fifty rupees per month
and it would be an expense extremely well employed, as it would render the
assays less liable to error than under the present condition of the implements
in use can possibly be expected.
Agreed
Bengal
Consultations. IOL P/4/30, 24th November 1794, p974
17th
November: 72,411 rupees, 11,866 quarters; gold 1950 half mohurs, 3,800 quarters
Bengal
Consultations. IOL P/4/31, 5th December 1794, p27
24th
November: gold 1630 half mohurs, 16,140 quarters
Bengal
Consultations. IOL P/4/31, 8th December 1794, p49
Start of a very
long series of papers about the coinage.
First is James
Millers comment on the establishments submitted by the subsidiary mints,
written 25th October 1794. It is clear that all the mints are
producing milled coins. Only Patna has machinery for laminating silver and
cutting blanks, the others are using Duraps to produce the blanks.
…On the 8th
article or planchet office, I do not think any reduction would be expedient of
the 11 sets of duraps proposed at Dacca and in the 10 sets at Moorshedabad, for
those these artificers may sometimes be unemployed, they must at others be much
hurried. But on a comparison with forming the blanks in the Patna mint, it
shews that by using the flattening mill and cutting machines, the charge on
that account, where the coinage has been less than at the other mints, exceeds
that which is proposed at Dacca and Moorshedabad, above 50 per cent. But I
would not recommend any reduction of the proposed charges on this account at
the Patna mint until it may be fully ascertained by experience which of the two
modes of forming the blanks promises the best coin, viz by the flattening mill
and cutting machines at Patna, or by the duraps with the hammer as hitherto
still practiced by each of the other mints.
There is then a
full list of each of the proposed establishment of Dacca, Patna and
Murshidabad, showing the number of workmen and the costs. The Calcutta Board go
on:
Agreed that the
Mint Master be informed that upon the ground of his reasoning in the 2
paragraph of the above letter and as the establishments proposed by the Assay
Masters are upon the whole less than those before entertained, the Governor
General in Council is of opinion that it will be advisable to confirm the
establishments recommended by the Assay Masters for one year from this date, by
the expiration of which period his experience will enable him to form a
judgement of the practicability of reducing the charges in each mint to the
same standard in the several instances proposed by him without risk of
interuption to the business of the coinage.
With respect to
the extra allowance of sicca rupees 1200 received by the foreman of the Dacca
mint, the Board direct that it may be paid to him as an annual gratuity as at
present and until further orders.
There is then a
lot more correspondence between the Mint Master and some of the Assay Masters
(particularly Dacca).
Then a long correspondence
about supposed mistakes made by Herbert Harris the former Assay Master at
Calcutta.
p277. Letter from
James Miller to Calcutta dated 7th Novemebr 1794
I herewith beg
leave to enclose copy of a letter bearing the date the 2nd instant received
from the Assay Master at Moorshedabad in answer to my letters of the 26th
and 27th ultimo which I observe he mistakenly mentions as of the 16th
and 17th ultimo.
Having on the 23rd
ult. Applied to this Assay Master for musters of each sort of the coins which
had been issued from his mint, because I had never seen any of them from
himself, and that no coinage had ever been transmitted to me by the magistrates
either of Moorshedabad or Patna, I received from him in course of Dawk, a gold
mohur, a rupee and a half and quarter rupee, no half or quarter gold mohurs
having ever been required at the Moorshedabad mint.
Letter from James
Agg (Murshidabad) to James Miller, dated
I have been
favored with your letters of the 16th and 17th ultimo
enclosing copy of a letter from Mr sub-secretary Shakespear.
The circumstances
of any gold mohurs of the description mentioned and supposed to be coined at
this mint, has given me the greatest concern, and I cannot account for any such
gold mohurs having been coined here unless some deception was practiced upon
me, in the assay musters of gold coined in the month of June, when I was so
very ill that I was confined to my room. There has been only forty eight gold
mohurs coined here since the month of June, and neither those nor the gold
coined in May (I am certain) could be of a worse quality than the muster which
I enclosed to you, which was one of the last coined, having no other in the
mint.
I shall hold
myself responsible for every loss that may arise from the recoinage of such
gold mohurs coined at the mint under my charge as may be found worse than
standard.
Agreeable to the
orders of the Honble Governor General in Council, I have put a stop to any
further coinage of gold ‘till further orders.
p301. Letter from
James Miller to Calcutta dated 20th Novemver 1794
In the last
paragraph of my address of the 23rd ultimo, wherein I had the honor
to submit the establishments proposed for the mints of Dacca, Patna and
Moorshedabad, and the observations which occurred to me on each of them, I
mentioned my expectation of in a short time laying before the Honble Board a
statement of such disbursements of this mint as for many months past have been
entered under the head of charges, Establishment, wherein I then had expectation
that some reductions might be effected, particularly in the number of duraps,
though I was aware of the necessity I should be under of representing my urgent
want of providing several additional writers and assistants in the English
Office of the mint.
Since that time,
however, occurances have taken place which oblige me to defer the execution of
that intention for the present in the conclusive manner I had expected to do.
The arrival of the
Dutch Company’s silver from Chinsurah, and the very unusual quantities of gold
brought in by the natives, and received from some English Houses, convinced me
that no reduction of any of the artificers then employed in the mint, could be
effected, at least for some time to come.
About this time
also, I had the mortification to find that a much greater number of blanks than
had been the case for a long time past, were found to be unfit for coinage
owing to the flaws and other imperfections that appeared in them, which at once
impeded the expedition of the coin and subjected the Company to a
proportionably greater loss in the article of remelting. I omitted nothing in
my power to ascertain the causes of this change, and was not wholly without
suspicion that it might have arisen from a refractory disposition in the
duraps, occasioned by their having heard of my intention to propose reduction
of about 10 or 15 docauns unless the whole number could be sufficiently
employed. But having assembled the sardars of each docaun they all declared
that the only cause of their recent failures was the additional duty they had
lately had to perform and not any intentional carelessness. I therefore
strickly enjoined them to reduce the proportion of spoiled blanks even though
it might lessen the number they might be able to form. They accordingly assured
me of their best endeavours to render the blanks as perfect as possible.
From the late
enquiries however, in which I have been engaged in regard to the flaws too
often to be found in blanks which had been fashioned by the hammer, I became
sensible of the necessity of endeavouring to bring into actual and constant
practice the mode of forming them by means of the laminating and cutting
machines. Those blanks which are formed by the hammer require and receive two
separate blows in the presses between what is called the collar and concave
dies, respectively, before they receive the last blow between the dies which
give the impression of the coin. Each of these blows renders the metal more
rigid and brittle, which causes the necessity of annealing all the blanks by
making them hot to redness, both between the first and second blows, and
between the second and third, which occasions not a little loss of time.
Notwithstanding the above method of softening the metal, it sometimes happens
that blanks which were formed even free from flaws when delivered from the
hammer have exhibited cracks more or less considerable, after each blow, and
after having sustained the two first, have under the last been rendered unfit
to be issued from the mint as coin.
I therefore caused
a trial to be made of the laminating and cutting machines, the blanks formed by
which require no other blow in the presses than that which gives the
impression. This trial was made upon about 1000 Sa Rs, the coin produced from
which appeared to be most perfect in every respect, but of greater diameter in
a small degree than that which had been before approved of. The cutting
machines have been accordingly reduced, and I am now giving out considerable
quantities of the Dutch silver to be formed into whole rupees in the above
manner, to enable the Honble Board to judge of which, I have herewith the honor
to enclose two rupees of the coinage by the hammer, one of the sort which I had
found to be to large by the cutters and one of those produced since the cutters
were contracted.
This mode of
coinage may, I am sensible, occasion additional expense in some instances,
whilst in others it will effect a considerable reduction, because it will
render about two-thirds of the pressmen and dye feeders unnecessary. In the
meantime I continue to occupy most of the duraps in the old way, and only
employ a few of the sardars in adjusting the blanks, which are formed after the
laminating method. The sardars however, I am sensible, would not be friendly to
the establishment of this mode of forming the blanks unless they could obtain
such wages for adjusting them as would compensate for the loss of the docauns,
and the advantages they derive between the wages they pay to the people they
employ, and the amount allowed for each set. But if this should be the case,
other people for adjusting the blanks must be sort for and entertained.
The Honble Board,
I cannot therefore doubt, will be satisfied that a change of this nature must
be effected by degrees and in such manner as not to occasion any stop or
impediment to the coinage…
The letter then
goes on to discuss the ‘English Office’ (which seems to mean the admin dept),
and Miller recommends that 3 people should get pay rises to bring their
salaries to - Francis De Monte Sinaes,
200 Rs per month; John Baptist De Verger, 130 Rs pm; and Bhobanund Chatterjea,
70 Rs pm.
This is all agreed
by the Board.
p319. Extract of a
letter from Patna Assay Master to James Miller, dated
The method of
melting which I have lately practiced I conceive to be an improved one. It
consists in my using potts of forged iron covered with lute to prevent their
being destroyed in the fire. The furnace is a reverberatory with an air shaft
to the ash hole, and a chimney. The average waste on melting old coin before I
used this method, was four annas per cent, and on the cut silver or sizel and
cakes of refined silver the waste has been about two annas per cent, that is
after recovering what was left in the nearah of the meltings, which has always
been done on the following day. This produce has generally been from three
quarters of an anna to one and half annas per cent. In my new method the
wastage does not exceed two annas per cent and very little nearah is produced.
The ingots coming
out of the hands of the melters are one foot long and the breadth of a rupee,
and a little more than twice the thickness. The inequalities are cut off and
they are made pretty even with the hammer before thay are sent to the
laminating machine, where they are brought to the thickness that the planchet
cut shall be as near to the proper weight as possible. Those that are too heavy
receive a blow on the fly-press between two plain blank dies. They are returned
to the cutting machine which takes off a small rim and the adjusting is
completed with a file. This operation prevents the waste that would happen on a
large quantity of filings. The whole wastage on the laminating, cutting and
adjusting amounts to one anna percent, and the cutt silver or sizel returned
from the cutting office is generally about one third, the remelting of which
occasions a further loss, making the total waste on melting in the old way five
annas per cent. This, together with half an anna per cent on cleaning the
planchets is the total for which Government have been charged for wastage at
this mint, amounting to six annas and half per cent. The [milling] and stamping
completes the whole process and for my own satisfaction when the new coin is
issued, I exchange one rupee out of every 1000 for a proof assay.
Bengal
Consultations. IOL P/4/31, 12th December 1794, p466
1st
December: gold 1086 mohurs, 1116 halves, 1300 quarters.
Bengal
Consultations. IOL P/4/31, 19th December 1794, p493
19th
December: silver 1960 rupees; gold 400 mohurs, 6050 halves, 22,116 quarters.
Bengal
Consultations. IOL P/4/31, 22nd December 1794, p503
There was a lot of
silver in the mint at Murshidabad and it should be sent to Calcutta to be
recoined.
p519. 15th
December: silver 2450 rupees, 3850 halves, 8,700 quarters; gold 7614 halves,
31,000 quarters
Bengal
Consultations. IOL P/4/31, 29th December 1794, p572
22 December:
silver 14280 halves, 25,980 quarters; gold 2704 halves, 12064 quarters
From 1795 Onwards look in Revenue Consultations (Opium
etc)
Revenue
Consultations (Opium etc). P/89/32. 13th February 1795, p5
2nd
February: silver 7690 halves, 10,500 quarters; gold 6000 halves, 23,100
quarters
Revenue
Consultations (Opium etc). P/89/32. 20th February 1795, p12
26th
January: silver 7820 rupees, 16200 halves, 28800 quarters; gold 5680 halves.
9th
February: silver, 3000 halves, 2800 quarters; gold 13576 halves, 24340 quarters
Minute of the
Governor General that no more half and quarter rupees be produced for the time
being. Only rupees, because after 30th April only sicca rupees will
be acceptable and more are needed in circulation. A notice to this effect was
published in the Gazette.
Revenue
Consultations (Opium etc). P/89/32. 6th March 1795, p27
MM stated that he
had asked for quotes from local merchants to refine silver, particularly that
delivered from Murshidabad. However, he has also found a new way for refining
involving bone ashes
16th
February: silver 21,750; gold 6260 halves, 5395 quarters
Revenue
Consultations (Opium etc). P/89/32. 6th March 1795, p27
Letter
from the Mint Master (James Miller) to Calcutta, dated
I herewith beg
leave to submit a letter which I have received from the Assay Master at Patna
dated the 17th instant respecting the demand for copper pice in that
part of the country and the means he suggests for supplying it.
On this subject I
have nothing to remark but that should the Honble Board be pleased to direct
the coinage of copper at Patna, or any of the other mints, I conceive that half
and quarter anna pice would be the best calculated for useful circulation, and
that if the value in weight should be about 15 per cent below the market price
of the copper, it would prevent their being melted down or applied to other
uses.
Letter from Robert
Blake, Assay Master at Patna, to Calcutta Mint Master, dated
The many
applications which have been made to me in consequence of the scarcity of
copper coin has induced me to state the business to you as it has fallen under
my own observation, with the hope that you will submit the same to the Honble
the Govenor General in Council.
In the first place
I have to observe that this species of coin is the principle currency amongst
the manufatcuring and labouring class of people in this quarter, hence a
deficiency of this currency in circulation, whether real or artificial the evil
will fall pricipally on the lower class of people. The agent, contractor and
paymaster also experience much inconvenience. For instance during the marriage
season the demand for this currency is very great. At this present time the
scarcity is such that no more than fifty two pice can be purchased for a sicca
rupee, when the full number should be sixty four.
Having thus far
stated the inconveniences attending the scarcity, I will beg leave to submit my
ideas as to the remedy. If those officers of Government who make advances to
the manufacturers and the payment of the invalids etc etc were directed to make
application to the mints for such a proportion of copper coin as may be deemed
necessary in those payments, it may be a means of throwing a sufficient
quantity into circulation to put a stop to this evil.
I have before
stated to you the advantage that will accrue to Government from the coinage of
copper, and that the coining implements which are now ready at this mint will
enable me to carry this coinage into effect without delay and at a vary small
expense.
Ordered that the
sub treasurer be directed to state what amount of copper pice there is at
present in the treasury, that the Governor General in Council may determine on
the expediency of having it recoined to supply the present deficiency in the
circulation of copper coin.
Revenue
Consultations (Opium etc). P/89/32. 13th March 1795, p33
23rd
February: gold 6000 half mohurs, 8875 quarters
Revenue
Consultations (Opium etc). P/89/32. 24th April 1795, p51
Output of the
Dacca mint
|
|
Gold Sa Rs |
Silver |
|
May 1794 |
1138-6-8 |
12,673-7 |
|
June |
1071-6-8 |
7,466-1 |
|
July |
|
64,299-11 |
|
Aug |
164-4 |
74,166-3 |
|
Sep |
|
75,917-5 |
|
Oct |
3646-9-4 |
42,193-4 |
|
Nov |
493-5-4 |
105,571-4 |
|
Dec |
|
117,906-3 |
|
|
|
|
|
Total |
6514 |
500,143-3 |
Output of the
Patna Mint
|
|
Silver |
|
May 1794 |
52,462-8-6 |
|
Jun |
44,225-5 |
|
Jul |
33,820-10-6 |
|
Aug |
33,551-6 |
|
Sep |
5342 |
|
Oct |
15,856 |
|
Nov |
35,399-8 |
|
Dec |
24,341-11 |
|
|
|
|
Total |
244,999-1 |
Output of the
Murshidabad Mint
|
|
Gold Sa Rs |
Silver |
|
May 1794 |
4057 |
187,119-2-3 |
|
June |
7788 |
149,556-1-2 |
|
July |
|
61,194-3-11 |
|
Aug |
|
94,862-13-3 |
|
Sep |
783-1 |
181,387-9-2 |
|
Oct |
|
57,129-9-1 |
|
Nov |
|
85,995-12-10 |
|
Dec |
|
71,224-10-1 |
|
|
|
|
|
Total |
12,628-1 |
888,489-13-9 |
p87. Lieut Peter Burrows
sends a letter stating the Lieut Agg, Assay Master at Murshidabad, is very ill
and cannot continue in that post for long. He asks to be considered as
replacement
p90. Miller asks
for pay rise
Revenue
Consultations (Opium etc). P/89/32. 3rd July 1795, p185
Output of the
Dacca mint
|
|
Gold Sa Rs |
Silver |
|
Jan 1795 |
1163 |
44,191-15 |
|
Feb |
|
45,236-4 |
|
Mar |
5516 |
108,113 |
|
Apr |
1920-8-8 |
22,635-5 |
|
|
|
|
|
Total |
8600-3-4 |
225,177-2 |
Output of the
Patna mint
|
|
Silver |
|
Jan 1795 |
96,432-9 |
|
Feb |
57,299-10 |
|
Mar |
145,065-14 |
|
Apr |
137,357-7 |
|
|
|
|
Total |
436,155-8 |
Output of the
Murshidabad mint
|
|
Silver |
|
Jan 1795 |
108,820-5-1 |
|
Feb |
170,524-12-2 |
|
Mar |
235,488-3-6 |
|
Apr |
212,317-13 |
|
|
|
|
Total |
727.151-1-9 |
Revenue
Consultations (Opium etc). P/89/32. 14th August 1795, p266
Letter
from the sub-treasurer to Calcutta, dated
I have to
acknowledge the receipt of your letter of the 6th instant and beg leave
to acquanit you in reply that the amount of copper pice at present in the
treasury is Sa Rs 17,646-2-9 of which 120 rupees consist of Bencoolen pice
9th
March: silver 83,529 rupees; gold 5000 quarter mohurs
Revenue
Consultations (Opium etc). P/89/32. 4th September 1795, p283
Minute
The Superintendant
of the mint at Moorshedabad was informed on the 31st ultimo that the
Governor General in Council authorized him to prodeed to the Presidency, after
having delivered over charge of the mint to the Collector of Moorshedabad, who
was informed that the business of the mint was to be suspended during the
absence of the Superintendant
Revenue
Consultations (Opium etc). P/89/32. 25th September 1795, p303
Letter
from James Miller to Calcutta dated 25th September
About copper pins
being put into gold blanks. Mentions ‘Mr D’Costa, one of the young men of the
mint’
Revenue
Consultations (Opium etc). P/89/32. 2nd October 1795, p316
Assay of Patna
gold mohur
Resolution
The Governor General
in Council, taking into consideration the very debased quantity of the gold
mohurs received from Patna and the pernicious effect which the introducing into
circulation any considerable quantity of coin so much below standard may
produce on the currency of the gold coin in general, considers it highly
necessary that the coinage of gold should be discontinued at the Patna mint
until the cause of the issuing of such debased coin can be ascertained, and
means be taken for preventing it in future. The Governor General in Council is
sorry to add that the silver coin issued from the Patna mint has in general
been below standard, as will appear from the weekly reports of the Assay Master
of Calcutta. He accordingly resolves that the Mint Master at Calcutta be
directed to order the Assay Master at Patna to discontinue the coinage of gold
for the present and to transmit to the Board his reply to the letter which he
has written to him in consequence of Mr Belli’s report, that such measures may
be adopted as circumstances may require.
Revenue
Consultations (Opium etc). P/89/32. 2nd October 1795, p338
Minute
of the Governor General (Sir John Shore)
The
present very defective state of the copper coinage has long been a subject of
general complaint, but particularly amongst the lower orders of the people, on
whom it occassionally operates as a heavy grievance.
That
the nature and extent of the evils experienced from the defective state of the
copper currency, may be clearly understood, it is necessary to premise that silver
is the measure of value throughout the country, and that all goods and
commodities are valued by the rupee.
When
pice therefore fall in value or, in other words, when more than the usual or
fixed number are exchangeable for a rupee, ir follows that the day laborer, who
receives a given number of pice for his hire, cannot procure the usual quantity
of grain or other articles for his daily subsistence, and is consequently
subjected to distress. Similar hardship is experienced by other descriptions of
the lower orders of the people who receive payments in pice.
On
the other hand when the value of pice rises above the usual rate, the loss
falls upon those who pay in pice, as the labour or commodities which their
rupee when exchanged into pice will then command must be proportionally less.
The
correspondence refered to in to margin (Acting Collector of Boglepore with
lieutenant Burnington’s letter on the distress for pice – recorded on the [….]
of the 31st May 1793. Board of Trade letter and enclosure, also
letter from the Master Attendant on the same subject above recorded) will show
that both these effects have been felt at different periods, as circumstances
have contributed to increase or reduce the value of pice in different parts of
the country.
This
constant fluctuation in the value of the copper coin, is a source of great
profit to the shroffs who combine to raise and fall the value of it in the
different parts of the country, buying it up when they have depreciated it, and
selling it at an enhanced value when they have accumulated so large a quantity
as to render the remainder in circulation at the places to which their
influence may extend, insifficient for the dealings of the inhabitants.
Exclusive of this source of advantage, they likewise derive a large profit
froma trafficing with the numerous sorts of old and counterfeit pice which have
local currency in the different parts of the country in the same manner as by
the exchange of the old copper.
Previous
to stating any propositions for a new copper coinage, it may be necessary to
notice the principles upon which the copper currency was regulated under the
native administration and the rules that have been prescribed regarding it by
the British Government.
Under
the Mogul administration the silver coin was the only measure of value, and
legal tender of payment. Gold mohurs and pice were struck at the mint for the
convenience of individuals who carried gold or copper to be converted into
those coins. But the Government never fixed the number of pice which should be
considered as equivalent to a rupee, any more than the number of rupees that
should pass in exchange for a gold mohur. Like other commodities, the gold and
copper coin were left to find their value in the market, compared with the
common standard of valuation, the rupee.
As
a necessary consequence of the above principles, the quantity of copper
contained in the number of pice exchangeable for a rupee, was in general nearly
proportionate to the price of copper in the market, or in other words, the
nominal and current value of the coin was nearly the same as the intrinsic
value.
From
the year 1772, when the mints at Patna and Dacca and Moorshedabad were
withdrawn, no pice were coined in the provinces until the year 1783, when a
contract was concluded with Mr Prinsep for coining pice on account of
Government.
Under
this contract 5285 Buzar maunds of pice were delivered between 29th
November 1781 and the 31st October 1783. These pice were of four
descriptions, whole pice denominated pucka pice and weighing 20 annas, and half
pice, quarters and eighths, of proportionate weight.
The
pice were delivered to Government at the rate of sixty sicca rupees the bazar
maund of eighty sicca weight to the seer, and issued by them at the rate of
eighty sicca rupees the maund, or 32 pucka pice, 64 half pice, 128 quarter
pice, or 256 eighths, for the sicca rupees.
From
the annexed statement furnished by the Import Warehousekeeper, it appears that
at the above period, the price of sheet or manufactured copper was about 48
current rupees the factort maund, so that the nominal value of the coin was
about seventy four per cent above its intrinsic worth. The Government therefore
in the first instance gained a profit of above thirty three per cent on the
amount coined, and the contractors, the difference between the price at which
he delivered the coins to Governmentand the value of the copper and the expence
of converting it into coins.
When
the priciples by which the copper coin was circulated under the native
administrations are advarted to, it will not be deemed extraordinary that the
people should receive with reluctance a coin so much over valued, or that much
counterfeit and bad coin should have been introduced into circulation.
The
rules which were adopted for introducing this new copper coin into circulation
appear to have been subversive of their object. Persons who received payments
from the public offices were obliged to take one per cent in pice at the fixed
valuation above mentioned. The coin indeed was received at the treasury, and
made a legal tender of payment to individuals, at the same rate, but as the
persons who received these large sums in copper could not compel any
manufacturer or trader to take them for advances, or dispose of them in the
purchase of goods, it obliged them to sell the pice for silver or gold to the
shroffs, who, of course, exacted a discount upon them proportionate to their
current value in the markets, & when they had occasion to make any payment
to the treasury, paid them at par, thereby deriving a profit on the exchange of
the pice as often as they passed through their hands. This depreciation of the
coin of course obstructed its currency.
In
Calcutta and its vicinity, the whole pice have in general passed at the rate of
thirty four, thirty five & sometimes thirty six for the rupee. In the
interior parts of the country where they have been introduced, they have often
circulated at thirty eighty and forty for the rupee, and the half pice in the
same proportion. But the quarters and eighths were invariably rejected by all
classes of people in the markets, and it was long a trade to buy them up from
persons who are obliged to receive them from the public treasuries, and to pay
them to Government at par. The whole pice have lately risen in value in
Calcutta but this is ascribable to Government having withdrawn a great
proportion of them from circulation, and to individuals being no longer obliged
to receive them excepting in payments for the fraction of the rupee. But in the
interior parts of the country, the copper coin still consists of the above
descriptions of Calcutta pice, the pice coined previous to and in the early
part of the Company’s administration, the pice from the viziers and other
neighbouring countries, and a much larger proportion of counterfeits of each,
which are constantly fluctuating in value in different places from the causes
above described.
The
desideratum in the copper coinage of this country, is that a given number of
the coin should pass universally for the fractional part of a rupee, or perhaps
half a rupee or eight annas, and no more, in all purchases or payments
whatever. To effect this desirable object, the following appear to be the
principles on which the copper coinage should be regulated.
The
intrinsic value of the coin should be nearly equal to its nominal worth
estimating it according to a moderate avaerage price, so as to preclude
individuals from deriving any advantage from counterfeiting the coin. This is
the great evil to be avoided, but which would be the necessary consequence of
estimating the copper at too high a value and prevent the coin being generally
received at its fixed value. On the other hand, supposing the copper be rather
under valued, it can only produce the effects of occasioning some of it to be
milled down when particular circumstances may cause an unusual rise in the
price of copper. This however can rarely happen to any great extent; at all
events it is an evil of comparatively little importance, being attended in its
consequences only with the trouble of throwing a further quantity of the coin
into circulation, the additional quantity of copper required for which can
always be imported with advantage from Europe.
The
sheet copper is the proper sort of copper for coining into pice. From the
annexed statement it appears that the average price of this copper at the
Company’s sales for the last ten years, is current rupees 46:1:1½ per factory
maund of sicca weight 72:11:7 to the seer. The price however has arisen at
different times within the above period considerably higher and at the sales in
January 1794 it was near forty eight currect rupees.
As
the basis therefore for calculating the intrinsic value of the coin, and fixing
the proportion between that and its nominal value, it might not be advisable to
assume a higher value than forty five current rupees.
The
factory maund contains 2880 sicca weight; supposing a pice to be struck
weighing sixteen annas, it will consequently give 2880 pice to the factory
maund. If these pice be valued at a quarter of an anna each, or sixty four for
the sicca rupee, they will have a value in circulation of exactly forty five
sicca rupees the maund, which will be sixteen per cent more than the intrinsic
value of the copper, estimating it at the proposed price of forty five current
rupees each factory maund.
This
difference will be sufficient to cover the expense of the coinage, without a
probability of any inducement being afforded to individuals either now or
hereafter, to counterfeit the coin.
Pice
therefore of the weight and issued at the value above specified, would be sixty
per cent more in weight & consequently in value than the pice now issued at
the same value.
A
half anna pice of thirty two annas weight would be too heavy a coin for circulation,
and any smaller subdivision of a rupee than a one hundred and twenty eighth
part appears unnecessary, as in transactions in which a smaller sign of value
are required, the cowries are invariably used throughout the country. It
appears expedient therefore that there should be only two descriptions of
copper coin, a whole and a half pice, the former to pass at the value of a
quarter of an anna, & the latter at half a quarter of an anna.
There
can be no objection to the receipt of these coins upon the ground of their
being over valued in the proportion above stated, for altho’ it is necessary
that the intrinsic and nominal value of gold and silver coin should be the
same, the observance of this rule is not equally necessary with copper coin,
especially when declared as hereafter proposed, to be current for the fraction
of half a rupee only. There can be little doubt therefore that under proper
regulations, pice and half pice of the weight, and issued at the value above
proposed, would be received throughout the country, at that value, and
consequently remove the cause of the heavy grievance above complained of by the
furnishing a convenient circulating medium for the petty transactions of the
lower orders of the people, which will exempt them from the impositions they
now suffer from the money changers.
These
regulations are in abstract as follows:
That
people in all parts of the country may be apprized of the value at which the
coin is issued by Government, & to be received and paid by the public and
by individuals, the value should be inscribed on one surface of it in the
Persian, Bengal and Nageree, the three characters used in business in the
different parts of the provinces.
Instead
of obliging individuals to receive copper to the amount of one per cent as at
the last coinage, the coin should be declared a legal tender of payment for the
frational parts of half a rupee, or eight annas, and no more, & all the
offices of Government should be prohibited receiving or issuing any larger
amount in copper, in receipts and disbursements made on the public account.
As
the coin is to be made on account of Government, it should be struck at the
Calcutte mint, and not at the three city mints. The Calcutta mint will always
be able to furnish a sufficient quantity of the coin for circulation, and by
confining the coinage to this mint, Government themselves will be able to
regulate the issue of it in proportion to the demand for it in the country.
On
the preceeding regulation it may be observed that no estimate can be formed of
the proable extent of the demand for the new pice, as there are no data for
calculating the quantity of old pice of various sorts now current, and
supposing it could be ascertained, it would be no criterion for judging of the
quantity of new pice that may be required for the circulation of the country,
should they become generally current.
To
facilitate the introduction of the new pice, and to prevent any inconvenience
arising from withdrawing the old pice from the circulation, a quantity of the
former should be prepared previous to the publication of the intentions of
Government to establish the new coinage, & sent to the General Treasury,
the collectors of the revenue, the commercial residents, the salt agents and
the collectors of the Government and Calcutta customs, with directions to
dispose of them at the rate of 64 whole pice or 128 half pice for the sicca
rupee, to any persons who may be desirous to purchase them at that rate. These
officers however should be prohibited from receiving in any payment which may
be made to them on the account of Government, or issuing in any public
disbursement, a greater sum in pice than the fractional parts of eight annas in
each receipt on payment.
When
any of the officers above mentioned shall have occasion for a supply of pice
for the circulation, they should apply for them to the Governor General in
Council through the regular official channel,submitting at the same time the
grounds of the application. They should at the same time be enjoined to be particularly
careful not to dispose of them to the shroffs in large quantities so as to
enable them to derive an advantage from the sale of them, but to endeavour to
distribute them as much as possible throughout their respective district to
persons who may have occasion for pice for their private disbursements, and not
to make a profit by disposing of them.
As
Government cannot in justice refuse to receive the Calcutta pice at the rate at
which they issued them, an opportunity should be offered to individuals who may
have them in their possession, to obtain the full value of them. For this
purpose a notice should be published that they will be received until the ……..
at the General Treasury and the treasuries of the collectors at the rate of
eighty sicca rupees the maund of eighty sicca weight to the seer, to any amount
in discharge of sums payable to Government, or if tendered by persons not
having payments to make the public, that they shall receive in exchage rupees
or gold mohurs or pice of the new coinage. But the officers above mentioned
should be enjoined to be careful not to receive under this publication, any of
the counterfeit pice which are known to be in circulation, or indeed any other
pice then the Calcutta or Prinsep’s pice.
After
the period specified in the preceding article, neither the old Calcutta pice
mentioned in the 5th article, nor any other pice (excepting the new
pice) should be received at any of the public treasuries or offices, or issued
therefrom on any account whatever, nor should they be legal tender of payment
for any sum in any public or private transactions.
All
public officers should be prohibited issuing the old Calcutta pice prior to the
date above-mentioned, whenever they have a sufficient quantity of the new pice
to issue in payment of the fractional part of eight annas.
The
old pice which may accumulate in the public offices in consequence of the
preceding orders should be sent to the Calcutta mint and coined into new pice.
It
may be likewise necessary, to prevent the counterfeiting or defacing the coin,
that persons convicted of such will be committed to take their trial before the
criminal court and punished as the law may direct.
By
the adoption of the above rules, the old pice will be withdrawn from
circulation without inconvenience to the public and the new pice be gradually
introduced, and in such quantity only as the circulation may require.
From
the annexed staement furnished by the sub-treasurer, it will appear that the
value of the Calcutta pice issued by Government, estimating them at the rate of
eighty sicca rupees the maund, amounts to sicca rupees 374253:13:6. It is to be
presumed that a considerable part of them have been lost or carried out of the
country.But supposing the whole quantity to be returned upon the hands of
Government, the loss will be inconsiderable when compared with the relief which
the new coinage will afford to the lower classes of the people.The pice which
may be paid in, when melted down and converted in the new coin will produce
about half the amount of value at which it will be received, and it is to be
recollected that in the first issue, Government derived a profit of thirty
three per cent, which will reduce the ultimate loss upon the whole coinage,
supposing what is extremeely improbable, all the pice to be paid in, to rupees
93,563.
This
sum might be further reduced by instructing persons in the different parts of
the country to purchase the Calcutta or Prinsep’s pice on account of
Government, provided they can procure them at a low value, nor could the
measure be considered as an injusticeto the public, as all persons who may be
in possession of any of these pice are at liberty by the rules above proposed
to pay them into the public trasuries at the full value at which they were
issued by Government. The Board however will hereafter take into consideration
the propriety of adopting this measure should circumstances appear to require
it.
Resolved
accordingly as follows:
That
a regulation for the establishment of a new copper coinage for the provinces to
Bengal, Behar and Orissa, in conformity to the principles staed in the above
minute, be framed and printed and published agreeable to the 41st
Regulation of 1793.
That
such part of the Calcutta or Princep’s pice now collected in the General Treasury
as may not be wanted for current purposes be transmitted to the Mint Master at
Calcutta, with directions to coin them into pice and half pice of the weight
proposed, & that he be furnished with the proper inscriptions fro the dies,
& to submit samples of the coin to the Board for their approbation.
That
the Board of Trade be directed to furnish the Mint Master with three thousand
maunds of the sheet copper proper for coining into pice, from the copper of
that description which may be now in the Company’s warehouse or from the
expected imports of the present season.
Revenue
Consultations (Opium etc). P/89/32. 9th October 1795, p382
Letter
from the Collector of Murshidabad, dated 8th September, stating that
he had taken over the mint. Included is a list of machinery at Murshidabad
mint.
Revenue
Consultations (Opium etc). P/89/32. 16th October 1795, p401
Letter
from Robert Blake, Assay Master at Patna, to James Miller, dated 5th
Octoner 1795
On
the first instant I received your letter dated the 24th ultimo enclosing
a gold mohur which had been assayed by the Assay Master and found to be three
per cent, and a rupee of half a percent worse than standard.
I
have assayed the gold mohur and find it to agree with the Assay Master’s
report, but the rupee I find to be of the full standard.
The
reason of the inferiority of the gold mohur has arisen from a mistake, the
following remarks upon which I request that you will be pleased to submit to
the Honble Board.
The
coinage of gold at this mint did not take place till the middle of the last
month, September, and then the quantities of bullion received were so small
that the assayed produce was paid out of the gold coin received from the
Collector on account of the expenses of the mint until a quantity was collected
and refined sufficient to begin the coinage…
…I
confess that this mistake had escaped my observation untill I received your
letter apprizing me of the inferiority of the samples, since which I have used
every effort in my power to collect and bring back into the mint not only those
which are inferior, but the greater part of what has been issued from the Patna
mint, which will put it in my power to correct the error and to comply with the
regulatio to recoin them into halves and quarters.
Revenue
Consultations (Opium etc). P/89/32. 13th November 1795, p432
Letter
from the Mint Master (James Miller) to Calcutta, dated
I
have the pleasure to send you herewith four specimens of each of the copper
coins, as directed in your letter of the 2nd ultimo, for the
inspection of the Honble Board.
The
Secretary is directed to issue the following instructions to the Mint Master
respecting the copper coinage.
I
am directed to acknowledge the receipt of your letter of the 6th
instant and to acquaint you that the Governor General in Council approves of
the samples of the whole and half pice which you have submitted and desires
that you will make the necessary preparations for the new copper coinage with
all praticable dispatch.
You
are to coin an equal value of the whole and half pice until it shall be
ascertained which of the two coins are likely to be in the greatest demand for
circulation, when the future proportions of each may be regulated accordingly.
The
Board of Trade have been directed to allow you to examine the sheet copper in
the Company’s warehouse and to retain from the quantity now in store, and the
expected imports of the current season, three thousand factory maunds of the
sort which you may select as most proper for coining into pice.
Revenue
Consultations (Opium etc). P/89/32. 20th November 1795, p444
Resolution
The
Governor General in Council in consequence of the information contained in the
foregoing letter, will hereafter take into consideration the expediency of
discontinuing the establishment of the mint at Moorshedabad…
Revenue
Consultations (Opium etc). P/89/32. 20th November 1795, p444
Letter
from the Mint Master (James Miller) to Calcutta, dated
In
the idea that the copper pice of which I transmitted samples to Mr sub
secretary Barlow on the 6th instant will probably be approved by the
Honble Board, I directed some questions to the Foreman respecting the apparatus
that would be necessary for melting down about 215 maunds of old pice which
have been received from the general treasury and for recoining the same into
new pice; in answer to which I have received his observations thereon, which
are as follows:
The
natives cannot melt copper sufficiently malleable to be made into pice. It has
been tried repeatedly but found not to answer either for the hammer or
laminating machines.
The
best and least expensive mode of making the new pice is from sheet copper, by
the laminating machine. The braziers will (I believe) give something more for
the cuttings that for sheet copper as the former saves them the trouble of
cutting the copper to put into their pots when they make brass. Mr Prinsep
found this to be the case when he made pice.
The
Durapps can cut down the old pice so as to answer for the new, but that is a
tedious mode.
I
have since enquired of some of the natives in the mint, who I learn had
formerly been employed by Mr Prinsep, and each of them corroborates the report
of the foreman, that old pice cannot be melted down sufficiently malleable for
the purpose of forming new ones, in which case I conceive it would be necessary
to make use of sheet copper from the import warehouse.
It
seems however necessary that whatever may become of the copper of the old pice
they cannot be disposed of in their present form without again forcing
themselves into some degree of circulation, and that for this reason the old
pice should either be melted down or in some other manner so effaced that they
cannot pass as coin either of standard or of inferior valuation.
In
regard to the cutting down of the old pice by the duraps, I am indiced to
believe that if at all practicable, the expense and delay would both be beyond
all reasonable proportion, for exclusive of their being able to form but a few
in that way, if all of them were so employed, they could only work upon them
during the short time that may happen when neither gold nor silver happens to
be in the mint. Besides which considerations it is only the old whole and half
pice that could be so cut down, all the smaller old pice being of less weight
than the new ones.
If
therefore the Honble Board should approve, I would recommend a supply of one or
two hundred maunds of sheet copper from the Import Warehouse, that in this case
I may lose no time in providing the additional servants and laborours necessary
for forming the new pice by the laminating machine, and in the meantime the old
pice can remain locked up in the mint until the best mode of disposing of them
may be determined on.
Ordered
that the Mint Master be directed to coin the new pice and half pice from the
copper which may be obtained from the import warehouse and to melt down the
Prinsep’s or Calcutta pice which were sent to him from the general treasury, or
cut or deface them so that they cannot be introduced again into circulation as
coin, and to dispose of the metal or the cut or defaced pice to the best
advantage.
The
Governor General in Council understanding that the relative value of the whole
and half pice with respect to the sicca rupee will be better understood by the
natives in General and especially the lower orders of them, by substituting ek pai sicca (one pice sicca) and adh pai sicca (half a pice sicca) for ek paow anna (a quarter of an anna) and neem four anna (half a quarter of an
anna), the insciption ordered on the 2nd ultimo, resolves that
instructions be issued to the Mint Master for that purpose.
Revenue
Consultations (Opium etc). P/89/32. 11th December 1795, p472
Resolution
…The
Governor General in Council further resolves that no more coin be struck at
Moorshedabad for the present, and that the Collector be directed to discharge
the establishment of officers attached to the mint, paying them their salaries
up to the date of the receiot of this order…
Revenue
Consultations (Opium etc). P/89/32. 11th December 1795, p475
Output of the
Dacca mint
|
|
Gold Sa Rs |
Silver |
|
May 1795 |
979-12 |
2886-10 |
|
June |
25,895-0-8 |
9,155-5 |
|
July |
|
18,201-6 |
|
August |
1692-9 |
4509-12 |
|
|
|
|
|
Total |
28,567-5-8 |
34,753-3 |
Output of the
Patna Mint
|
|
Silver |
|
May 1795 |
326,561-2 |
|
June |
254,356 |
|
July |
32,244-5 |
|
August |
12,640 |
|
|
|
|
Total |
625,801-7 |
Output of the
Murshidabad Mint
|
|
Silver |
|
May 1795 |
242,338-4-2 |
|
June |
15,662-3-3 |
|
July |
|
|
August |
959-5-8 |
|
|
|
|
Total |
258,959-13-1 |
Revenue
Consultations (Opium etc). P/89/32. 18th December 1795, p520
Letter
from Blake to Miller, dated 9th November
…The
whole quantity of gold mohurs issued from the Patna mint amounts to 440, of
which I have received back 336. The quantity remaining in circulation is 104
gold mohurs on this day. I expect to receive more daily and shall advise you of
the number that may be collected…
Revenue
Consultations (Opium etc). P/89/33. 5th February 1796, No 1
Letter
from James Miller to Calcutta, dated
I
have this day had the honor to receive your letter of yesterday’s date and in
consequence beg leave to trouble you with the enclosed slips of copper which
the foreman of the mint recommends as of the best thickness for the formation
of whole and half pice respectively, and also adds that it would be a great
accomodation to the coinage if the copper could be provided and sent out in
sheets of one foot square.
Revenue
Consultations (Opium etc). P/89/33. 19th February 1796, No 1
Letter
from the Accountant General to Calcutta, dated
It
appears that the quarter mohurs are in much greater request amongst the lower
orders of the people to whom advances are made by the agents of the Board of
trade, than gold coins of larger value, and as it may be thence presumed that
they are better adapted for general circulation, I beg leave to recommend that
orders be given to the Mint Master to coin for the present, all the bullion
that may be sent to the mint, wholly into quarter mohurs.
Agreed.
Revenue
Consultations (Opium etc). P/89/33. 11th March 1796, No 3
Letter
from James Miller to Calcutta, dated
Having
in obedience to the orders of the Honble Board communicated to me in Mr
sub-secretary Barlow’s letters under the date the 2nd October and
the 13th November last, obtained from the Import Warehouse Keeper,
three separate quantities of sheet copper, of 200 factory maunds each, and
applied the two first of those quantities to the coinage of copper pice, I now
deem it encumbant on me to submit the result in the two enclosed accounts of
the produce and charges thereof, by which I am concerned to think that waste
and charges would render the coinage of such pice a very considerable burthen
to the Honble Company.
The
acount No 1 exhibits the quantity which was formed into pice, the waste of
copper in cutting, laminating and cleaning, and the quantity remaining in sizel
or cuttings, spoilt blanks etc, to which is sub-joined a statement shewing the
amount of the quantity coined into pice and the loss of weight incurred
therein, at the rate at which it has been received from the import warehouse, amounting
to sicca rupees 5,460-3-2, opposed to which is the value of the pice at which
they are to pass current, and this amounted to but sicca rupees 5,394-8-9, so
that exclusive of the charges of coinage the pice fall short of the price of
the copper employed, sicca rupees 65-10-5, even though no loss should accrue
from the sizel, which I have been given to understand would probably sell for
as much, or perhaps even more than the copper when in the whole sheet.
He
goes on to say that the second experiment produced an even greater loss. He
ends by saying:
Upon
a presumption of a continuance of the copper coinage, I am therefore at a loss
to suggest such means as might be fittest for preventing so heavy a loss in
future, unless it might be deemed proper to reduce the weight of the whole pice
to 12 annas, and the half pice to six annas, and considering the small quantity
which has yet been sent to the treasury, I conceive the difference would
occasion little or no obstacle to their circulation although I am very far from
being of opinion that even such reduction of weight would afford any profit
whatsoever, as a proportionably less quantity of copper could be coined by the
same number of workmen. I do not find that the 3 pye pice of Mr Princep weighed
quite 10 annas, and those of the 1 ½ pye did not weigh above 5 annas.
Letter
from James Miller to Calcutta, dated
…If
the new whole pice were reduced to the weight of 12 annas each, and the half
pice to six annas, they would still weigh 20 per cent more than Mr Prinsep’s
pice, for thirty-two of Mr Prinsep’s whole pice were valued by Government at a
rupee, or half an anna each, and when struck were intended to weigh but 1 rupee
4 annas, which at the most gives 40 sicca weight per rupee. Whereas if the new
whole pice, valued only at one quarter of an anna each, were reduced to the
weight of 12 annas, and the half pice in proportion, the publick would receive
48 sicca weight per rupee in 64 whole pice, or 128 half pice, of better copper
and more complete manufacture. Yet I am informed that such is, and has been for
some time past, the demand for pice in the bazar, that more than 29 or 30 of
the above sort of Mr Prinsep’s pice cannot be had for a rupee…
The
MM is told not to coin any more pice until further orders
Revenue
Consultations (Opium etc). P/89/33. 1st April 1796, No 2
Output of the
Dacca mint
|
|
Gold Sa Rs |
Silver |
|
September 1795 |
|
16,426-9 |
|
October |
8709-14 |
13,187-12 |
|
November |
|
30,912-3 |
|
December |
4823-12 |
94,378-15 |
|
|
|
|
|
Total |
|
154,904-7 |
Output of the
Patna Mint
|
|
Gold Sa Rs |
Silver |
|
September 1795 |
7,043-11 |
62.696-8 |
|
October |
9,271-13 |
25,093 |
|
November |
|
46,095-5-3 |
|
December |
|
41,083-11 |
|
|
|
|
|
Total |
16,315-8 |
174,968-8-3 |
Revenue
Consultations (Opium etc). P/89/33. 1st April 1796. (no page or No)
Order
Ordered
the Mint Master be informed that the Governor General in Council desires he
will coin as a specimen a small quantity of the whole pice at the reduced weight
of 12 annas, instead of 16, and the pice at 6 annas instead of 8, and that he
will submit a particular account of the expense, and report whether he is of
opinion that any reduction in it can be hereafter effected, either by an
alteration in the coinage with a view to render the process more easy and
expeditious, or in consequence of the extension of it, since it may be expected
that a proportionate increase of all the different items of charge will not be
necessary, and the agregate expense will consequently fall less heavt when
apportioned on a greater amount.
Revenue
Consultations (Opium etc). P/89/33. 22nd April 1796, No 4
Letter
from James Miller to Calcutta, dated
…I
herewith beg leave to submit musters of whole and half pice, weighing 12 As and
6 As each, respectively…
Revenue
Consultations (Opium etc). P/89/33. 22nd April 1796, No 5
Observations
of the Governor General
Governor
General in Council observes that it appears from the report and statements
submitted by the Mint Master that a considerable loss would be sustained
annually were Government to adhere to the original intention of coining the
whole pice at 16 annas sicca weight, and the half pice at 8 annas, and that
even after reducing the weight to 12 annas and 6 annas it can hardly be
expected that Government will be more than reimbursed for the expence of
coinage. This reduction still leaves the intrinsic value of the pice 20 per
cent more then the value of Mr Prinsep’s pice, in proportion to their
respective weights, and he trusts that the coin will circulate at the value
fixed upon it, as it is intended to be made a lagal tender of payment to the
amount of eight annas only, instead of one per cent as was directed on the
issue of the pice coined by Mr Prinsep, the circulation of which was greatly
obstructed in consequence of the receivers being always subjected to a loss, by
being obliged to dispose of them for whatever they would fetch in the market.
As to the temptation held out to counterfeiters by the reduction of the intrinsic
value of the coin below the standard originally intended, the Board trust that
the goodness of the workmanship will render the counterfeiting of it extremely
difficult, excepting at an expense that would absorb the profit of the attempt,
and they are of the opinion that it will be further rendered difficult as well
as dangerous by the rules which it is proposed to adopt for preventing the
circulation of any counterfeit coin,and for the punishment of persons convicted
of fabricating it. At all events, the heavy expense that would be incurred by
issuing the coin at the standard originally intended, appears to reduce
Government to the alternative of relinquishing the eswtablishment of a new
copper coinage, or of reducing the intrinsic value of it. Under these
circumstances the Governor General in Council resolves that the Mint Master be
directed to coin the whole pice at 12 annas sicca weight and the half pice at 6
annas, and that he be informed he is to commence the coinage immediately and to
send the coin to the Treasury to be issued under the regulations which will be
shortly published.
Ordered
that the sun-tresurer be instructed to return to the mint the pice lately
coined, and that the Mint Master be directed to recoin them, and to report what
further quantity of copper will be required by him.
Agreed
that information of the forgoing resolution be communicated to the Honble Court
of Directors by the next dispatch, and that it be submitted to them whether in
consequence of the charges on the coinage being so heavy in this country, it
might not be advisable to coin the pice in England.
There
then follows a letter from the Mint Master about gold coins that have had the
milling filed away to such an extent that the coins are no longer round.
Revenue
Consultations (Opium etc). P/89/33. 6th May 1796, No 2
Letter
from James Miller to Calcutta, dated
Having
received your commands conveyed to me by Mr sub secretary Tucker’s letter of
the 22nd ultimo in regard to the copper coin to be struck in the
future, I have the honor to report I lost no time in setting the artificers to
work, and that I hope in the course of this month to send not less than eight
lacks of pieces to the Treasury.
O
however beg leave to represent that I have found it no less impracticable to
recoin the new pice lately formed than it was to recoin the old pice of Mr
Prinsep.
I
likewise understand that the labour and consequent expense of efacing them so
as to admit of them being sold as copper in the bazar, without danger of being
used as coin, would amount to a very considerable proportion of their value,
and that melting would be equally ineligible by reducing the value of the metal
for common purposes, exclusive of the expense of servants, firewood etc and
injury to the furnaces.
From
all that I have been ablemto learn on the subject, the best method that occurs,
if it shall be found practicable, would be to delivery over bothe the old pice
of Mr Prinsep, and those lately formed weighing 16 and 8 annas, to the
Commissary of stores to be applied to the making of brass, for ordnance. In
which case probably the small pieces into which the copper is divided might
render it no less elibible for the purposes suggested then if it were in the
sheet.
Upon
an estimate of the proportion of sizel and waste of metal in the various
operations, I reckon that a monthly supply of about 227 bazar maunds of sheet
copper would be necessary for the production of 8 lacks of pieces, one third of
which number to be of 12 annas each, and two thirds of 6 annas each.
Agreed
that the military department be asked for their comments.
Revenue
Consultations (Opium etc). P/89/33. 13th May 1796, No 1
Letter
from James Miller to Calcutta, dated
MM
sends thinner pieces of copper sheet as examples to be requested from England.
Also asks that the 2000 maunds of sheet copper in the Import Warehouse,
suitable for coinage, should be reserved for that purpose.
Agreed
Revenue
Consultations (Opium etc). P/89/33. 13th May 1796, No 2
Letter
from James Miller to Calcutta, dated
MM
investigated how much wear the gold coins suffered but finds it difficult to
estimate. He states ‘…I had no means of making a trial, as for some years, no
whole mohurs have been coined at this mint’.
He
also suggests that the only way of tracking the wear would be to put the date
of manufacture on the coin, but the GG is not keen on this: ‘...the Mint
Master’s proposal to inscribe on the coin the date on which it may be issued,
appears to him extremely objectionable, as it would tend to renew the practice
of assigning a different value to the coin issued in different years, and
thereby prevent the benefit expected from a general uniformity in the currency,
which it has been the object of Government to attain and preserve’
Revenue
Consultations (Opium etc). P/89/33. 17th June, No 2
Letter
from James Miller to Calcutta, dated
Having
observed about the beginning of the present month, that the impression of the
half pice was in several instances, so faint as not to be distinctly traced on
the face of the coin, I minutely enquired into the cause, in the idea that it
might have proceeded from striking off too many pieces with the same dies, from
carelessness in the dye feeders and lever men, or from both these causes.
I
found however that the foreman chiefly ascribed the imperfaction to the
thinness of the copper from the reduced weight from eight annas to six annas,
and in consequence I had assented to his reducing the cutters so as to render
the half pice blanks somewhat thicker. A few maunds of this sort were actually
struck off, but as some parts of the letters of the dye did not come within the
edge of the coin, I was adminished that it would be considered a palpable
defect, and I therefore put an instant stop to this coin, nor has a single
piece of it been yet sent to the Treasury, nor will any be sent thither unless
from the difficulty attending the formation of this small pice, they should be
admitted of by the Honble Board.
I
desired to know from the foreman whether new dyes could be made for the half
pice, of such diameter as would admit of a deeper and more distinct impression,
and I now beg leave to enclose copy of his answer with the inscription he
suggests, and from which the whole of the Nagry charaters are left out.
I
should have thought it altogehter unreasonable to have expected the same
precision as to the formation and weight of copper pice that would be
indispensible in either gold or silver, but I considered that all pice where
the difference of weight should exceed one anna in twelve (or above 8 per
cent), and whose circular form was rendered irregular by coiners, ought not to
be considered as falling within the difference that might be admitted between
the precision requisite to the gold and silver coin, whne compared with the
copper, and that such defects indicated carelessness in the workmen.
But
though the pice which have been coined contain more samples of this sort than I
could wish, I do not mean to trouble the Honble Board with any such, unless they
should be called for, as I have no other wish or object than to render the pice
as nearly as practicable, equal to the musters which were delivered in to the
Honble Board with my address of the 13th April last, not doubting
that every indulgence will be granted to such imperfections as are unavoidable.
The
points of present consideration however, seem to be confined solely to the half
pice of six annas
1st,
whether the Honble Board shall think proper to continue them of their priginal
size, agreeably to the enclosed sample of the general run of that coinage,
marked No 1, notwithstanding the faintness of the impression.
2nd,
whether six anna pice of reduced size, but struck with the same dies as per the
enclosed sample, No 2, would be admissable or not, and
3rd,
whehter such alteration in the inscription as sent in by the foreman can now be
adopted with advantage and propriety
There
then follows a letter from Mr Spalding, foreman of the mint
Ordered
that the Mint Master be informed that if after reducing the diameter of the
half pice, the present dies should be found not to answer for the coinage, the
Governor General in Council desires he will have new dies prepared, and in the
event if it’s appearing impraticable to insert the whole of the inscription, he
will omit the Perisan part of it, and not the Nagree as suggested by the
foreman.
Revenue
Consultations (Opium etc). P/89/33. 24th June 1796, No 1
Letter
from James Miller to Calcutta, dated
States
that he has confined copper production the whole pice but couldn’t understand
why only 22,000 pieces per day could be produced. He asked the foreman to
explain. He also asked the Board to direct him what proportion he should coin
Pice to Half Pice, 350,000:150,000 per month, 300,000:200,000, or
250,000:250,000.
The
foreman replied (21st June 1796):
The
quantity of unmilled rupees which were stamped per day in the year 1792, can be
no criterion for stamping per day an equal quantity of pice, by an equal number
of workmen. For, the unmilled rupees were stamped on dies of about two inches
diameter, and in that mode of coining no pain is taken to place the coin
accurately on the die. Also the old silver coin is much thicker than new pice,
and copper is much harder than silver. These are the causes why the the people
cannot stamp as many pice per day as they could unmilled rupees. The feeders
and lever men employed for stamping the pice, are sometimes deficient in
number, and some of them who come for the sake of being mustered are unwell and
their places are supplied by those employed to stamp the gold and silver coin.
Ordered
that the Mint Master be informed that the Governor General in Council desires
he will for the present coin the pice in the proportion of 350,000 whole pice
to 150,000 half pice.
Ordered
that the Mint Master be further informed that the Governor General in Council
approves of his taking the necessary measures to enforce the regular attendance
of the several persons employed under him in the mint, but that as this is a
detail of office which he ought to be competent to conduct without the
immediate interference of Government, the Governor General in Council does not
deem it necessary to furnish him with any special instructions on the subject.
Revenue
Consultations (Opium etc). P/89/33. 15th July 1796, last entry under
this date
Governor
General’s Observation
The
Governor Genral in Council adverting to the difficulties represented by the Mint
Master to be experienced in the coinage of the half pice, the Board resolve
that he be directed to discontinue the coinage of them altogether for the
present and to proceed to coin the whole pice exclusively, which the Governor
General in Council is of opinion may answer the immediate purposes for which
the copper coin is required.
Revenue
Consultations (Opium etc). P/89/33. 2nd September 1796, No 1
From
MM, dated 26th July
Output of the
Dacca mint
|
|
Gold Sa Rs |
Silver |
|
Jan 1796 |
334-14 |
56,485-4 |
|
Feb |
3098-5-4 |
57,993-4 |
|
Mar |
|
39,302 |
|
Apr |
|
9,962-13 |
|
|
|
|
|
Total |
3433-4 |
163,743-5 |
Output of the
Patna Mint
|
|
Gold Sa Rs |
Silver |
|
Jan 1796 |
|
118,334-3-6 |
|
Feb |
|
164,294-6 |
|
Mar |
|
52,111-10 |
|
Apr |
|
46,532-8 |
|
|
|
|
|
Total |
|
381,272-11-6 |
Revenue
Consultations (Opium etc). P/89/33. 2nd September 1796, No 5
From
MM, dated
…The Honble Board will observe that this
abstract includes 363,990 whole pice of 16 As weight, and 642,992 half pice of
8 As weight, separated from the present coinage of 12 As and 6 As. These heavy
pice were sent to the Treasury, though they cannot be issued as coin because of
the reduced weight of the new pice, which amount to 1,226,000 whole and 605,000
half pice, both of which latter are ready to be issued when the Honble Board
shall deem proper…
…There
cannot however be any doubt but that as the copper coinage is now confined to
12 As copper pice alone, the quantity to be produced in future would
considerably exceed the value of the copper coined, with the addition of the
monthly mint charges also.
Revenue
Consultations (Opium etc). P/89/33. 30th September 1796, No 1
From
the Mint Master (James Miller), dated
Having received from the magistrate of Patna
five half and five quarter gold mohurs taken by him from the presses of the
Patna mint on the 6th instant, I sent one of the quarter mohurs to
the Assay Master here, who has reported the same to be of mohur standard.
I
however thought it necessary to write to the Assay Master to transmit me for
the information of the Honble Board the grounds which induced him to coin gold
after the suspension of that coinage at the Patna mint, directed by Mr sun secretary
Barlow’s letter of 2nd October 1795, which I trnasmitted to the
Assay Master in a letter under date the 8th of the same month.
MM
then goes on to argue that Patna should be allowed to coin gold but
The
Governor General in Council observes that no orders appear necessary on the
subject of the foregoing letter, as he does not think proper to make any
alteration in the resolutions of Government for discontinuing the gold coinage
at the Patna mint.
Revenue
Consultations (Opium etc). P/89/33. 7th October 1796, No 2
From
the Mint Master (James Miller), dated
Stating that all the suitable copper in the
Treasury had been coined into pice, and providing the accounts
Revenue
Consultations (Opium etc). P/89/33. 14th October 1796, No 1 & 2
From
the Mint Master (James Miller), dated
Output of the
Dacca mint
|
|
Gold Sa Rs |
Silver |
|
May 1796 |
3623-1-4 |
10,688-3 |
|
Jun |
|
21,806-12 |
|
Jul |
7831-6 |
17,787 |
|
Aug |
4072-9-4 |
2212-1 |
|
|
|
|
|
Total |
15,527 |
53,094 |
Output of the
Patna Mint
|
|
Gold Sa Rs |
Silver |
|
May 1796 |
|
34,031-9 |
|
Jun |
1721-9 |
30,879-12 |
|
Jul |
6754-1-4 |
16,599-3-7 |
|
Aug |
|
38,544-7-3 |
|
|
|
|
|
Total |
|
|
Revenue
Consultations (Opium etc). P/89/33. 14th October 1796, No 3
Resolution
The Governor General in Council, observing
from the report submitted by the Mint Master that the coinage at the provincial
mints has become very inconsiderable, and the charges consequently fall
extremely heavy on the trifling sums which have of late been issued from these
mints, he is of opinion that it would be advisable to discontinue the coinage
altogether. He accordingly:
Resolves
that the Mint Master be directed to issue the necessary orders to the Assay
Masters to discharge their establishments after having coined all the bullion
and old coin which they may have received into the mints under the existing
regulations.
The
Governor General in Council at the same time resolves that Assay Masters be
employed at the cities of Patna and Dacca for the purpose of assaying bullion
and old or light coin which may be tendered to them. The coin or bullion so
received, he proposes, should be sent to the Calcutta mint to be coined into
sicca rupees or gold mohurs of the 19th sun, and that the
certificates for it be receivable at all the public treasuries in public
payments, or be exchangeable for cash in silver or gold (according to the coin
or bullion delivered in to the Assay Master) within a certain number of days
after the date of the certificate which Government will hereafter fix according
to what may be considered a reasonable time for sending the bullion or coin to
Calcutta and having it recoined.
The
Governor General in Council further resolves, that the present Assay Masters be
continued at Patna and Dacca, with their present salary but without any
commission or other allowance and that they be authorized to retain the
buildings now rented by the Company for a mint, or such of them as may be
requisite for an assay office, with the necessary establishment for making the
assays.
Ordered
that the Mint Master be called upon to submit a detail of the necessary
establishments with such suggestions as may occur to him for carrying this
arrangement into effect, that he be directed to advise with the Accountant
General as to the forms of certificates, and also to specify after what period
the certificates should be receivable either in payment or in exchange for
cash.
The
Governor General in Council observes that it is the intention of Government to
take into consideration the necessary measuresfor securing funds for the
payment of the certificates.
Ordered
that the Mint Master be directed to report the date from which the
establishmentsat the subordinate mints may be discharged.
…
The
Governor General in Council further resolves, that the Mint Master be called
upon to report whether the attorneys of lieutenant Agg have refunded the amount
for which the latter neglected to give credit in his accounts.
Revenue
Consultations (Opium etc). P/89/33. 4th November 1796, No 1
From
the George Davidson at Dacca dated 25th October 1796
Asks that Mr Hughes annual gratuity of 1200
rupees should be paid.
Agreed
Revenue
Consultations (Opium etc). P/89/33. 18th Novembeer 1796, No 2
From
the Arsenal at Calcutta dated 28th October 1796
Stating that they can’t use the copper from
the mint
The
MM is ordered to dispose of the sizel & spoilt pice at auction
Ordered
that the Mint Master be further informed that it is the intention of Government
to continue the pice coinage and that he accordingly to apply to the Import
Warehouse Keeper for a further supply of copper whenever he may be able to
recommence the coinage.
Revenue
Consultations (Opium etc). P/89/33. 2nd December 1796, No 1
From
the Mint Master (James Miller), dated
MM had tried auctioning the copper but no one
would buy it. He can’t undertake any further copper coinage until the waste
copper is removed from the mint.
Revenue
Consultations (Opium etc). P/89/33. 16th December 1796, No 12
From
Davidson at Dacca, dated
Dacca mint production
Sep
& Oct 1796 (total gold & silver in Sa Rs), 19,511-13-8; 5853-6
Mr
Davidson also asks that the Dacca mint should be kept open for a few more
months.
This
is rejected by the GG and the MM is ordered to get the provincial mints shut as
quickly as possible.
Revenue
Consultations (Opium etc). P/89/33. 6th January 1797, No 3& 4
From
the Mint Master (James Miller), dated
He reports that he has finally managed to sell
the copper waste.
Revenue
Consultations (Opium etc). P/89/33. 9th February 1798 1796, No 2
& 3
From
the Benjamin Hughes, dated
Asking for his annual gratuity
Ordered
that a copy of the foregoing letter be transmitted to the Mint Master and that
he be directed to call upon the Assay Master at Dacca to report in what manner
Mr Hughes has been employed since the abolition of the Dacca mint, with a view
to enable Government to determine how far he may have claims to the gratuity of
100 rupees per month in addition to his other allowances.
Ordered
that the Mint Master be at the same time informed that as the Vice President in
Council is not aware that the services of Mr Hughes can be required at present
at Dacca, and as it occurs to him that they might be of use in the Calcutta
mint, Government desire he will report whether it might be advisable to call
him down to the Presidency for the purpose of being employed in the mint under
his charge.
Revenue
Consultations (Opium etc). P/89/33. 2nd March 1798, No 1 & 2
From
the Mint Master (James Miller), dated
In
obedience to your commands conveyed to me by Mr sun secretary’s letter of the 9th,
which I received on the 16th instant, I addressed as therein
directed a letter to the Assay Master at Dacca, respecting Mr Highes, his reply
to which I submit, enclosed.
In
regard to any services of which Mr Hughes might be in the Calcutta mint, I
apprehend that this would depend on how far the Honble Board may deem it proper
to provide for future contingencies, as the machinery of the mint seems for a
considerable time past to have obtained every degree of perfection necessary to
the present mode of coinage, and requires by a moderate degree of
superintendance to keep it in order.
There
is then a letter from Mr Davidson suggesting Mr Hughes be given the job of
repairing the arms of the Sebundy Corps.
Ordered
that the Mint Master be informed that the Governor General in Council in
consideration of the favourable report made by the Assay Master at Dacca with
regard to Mr Hughes, authorises the payment of the gratuity of 1200 rupees to
the latter, and desires he will issue the necessary instructions to the Assay
Master and at the same time acquaint him that Government approve of Mr Hughes
being employed in the manner proposed by him.
Ordered
that it be notified to the public officers in the vicinity of Dacca, to whose
station sebundy Corps are attached, that Mr B. L. Hughes will be directed to
repair the arms of the Sebundies whenever he may be applied to for the purpose,
and that Government accordingly desire they will send them to Mr Hughes for the
purpose of being repaired whenever it may be necessary…
The
Governor General informs the Board that he understands that the dies for the
stamps have been finished by Mr Spalding, the foreman of the mint, and as he is
of opinion that Mr Spalding is entitled to some compensation from Government in
consequence of the extra duty performed by him in making the dies, and in
consideration of the great diligence and ingenuity displayed by him in the
execution of this duty, he proposes that he be allowed a sum equal to the
salary which he draws in the mint for a period of six months.
This
was agreed by the Board and the MM ordered accordingly.
Revenue
Consultations (Opium etc). P/89/33. 6th April 1798, No 1
From
the Mint Master (James Miller), dated
…Rye
Churn Seal and Gopeechurn Budden declare themselves ready to submit to any test
which the Honble Board may direct, that in preparing the [gold] leaf to effect
the object above stated to them, they have strickly adhered to justice, and
that they know of but one mode of refining gold practiced by any of the natives
of this country, and but one sort of cement, wghich is composed of two thirds
of brick dust and one third of salt, that in refining gold of about five per
cent worse than mohur standard, they apply this cement but once, and of course
have but one burning. In gold to about 12 or 13 per cent worse, they apply it
twice and have two burnings, and that in gold of star pagoda standard they
apply the cement three times and have three burnings, and upon the whole that
they always expect and generally find that their losses in melting leaf gold
are greater or less as the quality of the gold to be refined shall have
required either the one or the other of the above methods…
Revenue
Consultations (Opium etc). P/89/33. 13th April 1798, No 1
From
the Mint Master (James Miller), dated
In
his letter he states that the Dacca mint was discontinued on 31st
January 1797 and the Patna mint on
Revenue
Consultations (Opium etc). P/89/33. 24th May 1799, No 1
From
the Mint Master (James Miller), dated
The
Assay Master at Patna (Mr Blake) is described as the late Assay Master, and he
had to leave due to illness. The Assay Office at Patna is closed and the
buildings (formerly those of the mint) are to be disposed of.
Revenue
Consultations (Opium etc). P/89/33. 21st June 1798, No 1 &2
From
the Mint Master (James Miller), dated
Refers
to the late Assay Master of Dacca. Also reference to the Dacca Assay Office
being closed on 15th January 1799.
Ordered
that the Mint Master be informed that Government having no further occasion for
the services of Mr Hughes, his salary is to be discontinued from the date on
which the Assay Office at Dacca was abolished. That oif however Mr Hughes can
shew that he has rendered any public services which entitle him to a
continuance of an allowance from Government, his claim will be taken into
consideration.
Revenue
Consultations (Opium etc). P/89/33. 11th July 1799, No 1
Resolution
of
The
Vice President in Council in consequence of the death of Mr James Miller, the
Mint Master, resolves that Mr F. Mure be appointed to take charge of the office
of Mint until further orders.
Revenue
Consultations (Opium etc). P/89/33. 28th November 1799, No 1
Letter
from the Accountant General to Calcutta Council, dated
I
beg leave to report to your Lordship in Council that it appears from the public
accounts that silver bullion has been imported into Bengal within the last four
months to the amount of upwards of eight lacs of silver rupees, or about one
million sterling. That rather more than one half of this sum was imported by
individuals and the remainder consists of consignments from the Honble Court of
directors. That of those consignments there now remains to be coined upwards of
twenty lacs of sicca rupees, and that the utmost amount which can be coined
daily upon the present establishment of the mint does not exceed fity thousand.
Upon
a consideration of these circumstances, and of the low state of the public
treasuries, I beg leave to recommend with a view to expediting the coinage of
the bullion, that the Mint Master may be authorised to hire such additional
workmen and to make such further arrangements at the mint as may appear to him
advisable, for the purpose of enabling him to coin the bullion now in store
with the utmost practicable dispatch.
With
the same view I beg leave likewise to recommend that the Mint Master may be
further authorised to coin the gold bullion which may be sent to the mint,
either into whole mohurs or half and quarter mohurs at the option of the
respective proprietors, instead of being obliged to coin the whole (whatever
may be the wish of the propritors) into half and quarter mohurs, in conformity
to existing orders of Government.
These
orders were passed some time ago in the expectation that the coining of the
smaller pieces of gold money would tend to lessen the inconvenience then
experienced from the enhanced price of silver money, but as that inconvenience
no longer exists, and as the process of the gold coinage is much more tedious
in consequence of those orders, than it would otherwise be, I conceive that the
proposed modification of them may be adopted for the present with considerable
advantage.
Having
now submitted to your Lordship in Council,such temporary expedients as appear to
me best calculated to meetthe immediate exigency, I beg leave farther to
observe that upon a consideration of the probability of the exports from this
country to Europe being so considerable, as greatly to exceed the amount likely
to be required, both to provide for the remittance of fortunes acquired in
India, and to supply the Indian demand for European merchandize, I conceive
that a large proportion of the exports from hence muct necessarily be returned
to this country in bullion, and that the amount to be so returned will increase
annually in proportion to the extension of the exports.
Under
this impression I conceive it would be advisable to enlarge the buildings at
the mint to an extent sufficient at least to enable the Mint Master to coin a
lac of rupees in silver money daily, and I beg leave accordingly to suggest to
your Lordship in Council the propriety of taking the subject into
consideration.
Agreed
Revenue
Consultations (Opium etc). P/89/33. 19th December 1799, No 2
Letter
from the Commissioner of Cooch Behar (Richard Ahmuty), to Calcutta, dated
Requests
permission to close the mint at Cooch Behar for three months.
Agreed
providing that the consent of the Rajah is obtained.
Revenue
Consultations (Opium etc). P/89/34. 20th February 1800, No 1
Letter
from Richard Ahmuty dated
Revenue
Consultations (Opium etc). P/89/34. 14th March 1800, No 1
Resolution
of the Governor General, dated
The
Governor General proposes that Mr John Mackenzie be directed to take charge of
the office of Assay Master of the mint of
Revenue
Consultations (Opium etc). P/89/34. 3rd April 1800, No 1
More
on
Revenue
Consultations (Opium etc). P/89/34. 19th June 1800, No 1
More
on
Revenue
Consultations (Opium etc). P/89/34. 18th September 1800, No 2
Resolution
Mr
Davidson is directed to report to Calcutta to help at the Assay Office
Revenue
Consultations (Opium etc). P/89/34. 30th December 1800, No 1
Letter
from the sub treasurer dated
The
copper coin remaining in the treasury being equal only to a few days
disbursement, I beg leave to suggest to the Most Noble the Governor General in
Council, that the Mint Master be directed to make a new coinage as early as
possible of this specie, to the value of rupees 10,000.
So
ordered
Revenue
Consultations (Opium etc). P/89/34. 26th February 1801, No 2
Letter
from P Spalding (foreman of the mint) dated
Permit
me to inform you that in the year 1789 I was called to the mint by Marquis
Corwallis for the purpose of completing the machinery for the new coinage.
His
Lordship having approved of my abilities and conduct in the mechanical
department of the mint, was pleased the year following to ratify my appointment
in Council.
My
length of service together with the nature of my employment in this hot climate
has so much injured my constitution that I am advised to return immediately to
Europe for the recovery of my health. I have therefore to beg the favor of you
to state my case to the Most Noble the Governor General in Council, with the
hope that His Lordship will be pleased to permit me to resign my employment in
the mint.
I
am fully aware that egotizm is unbecoming and indelicate. Permit me however to
remind you of at least one considerable saving and improvement which I have
made in the mint.
At
the time Government ordered the provincial mints to be established it was their
intention to employ native die sinkers at each of the mints, which I perceived
would be attended with an expense to Government of at least eight hundred
rupees per month , including the native die sikers then employed in the
Calcutta mint. I recommended and undertook to get the dies sunk for the
Calcutta and the three provincial mints in the European manner for the trifling
sum of seventy five rupees per month, which was accordingly done, and an
expense prevented to the Company of full seven hundred rupees per month, and
that saving took place from the time the provincial mints were established
untill they were abolished, a period of about six years, and even now the
Company would have to pay several hundred rupees per month for die cutters but
for my having introduced the European method of die sinking, as stated above
for the trifling sum of sevety five rupees per month.
My
health is bad and I am rather advanced in years, and the little [matter] I have
been able to save is far from being sufficient to enable me to live comfortable
in my old age on that account, and as a compensation for past services I humbly
beseech the Most Noble the Governor General in Council to be pleased to grant
me a small pansion. Whatever His Lordship may be graciously pleased to confer
will most gratefully be received as an honorable testimony of my services
having been approved.
Allow
me to mention to you Mr Hughes, formerly foreman of the Dacca mint, as a person
in every respect qualified to succeed me in office. Mr Hughes mechanical
abilities are well known to many gentlemen in this country, and in particuler
to Doctor Davidson and his probity and good conduct can be attested by him and
several of the most respectable gentlemen in Bengal.
Rosolved
that Mr B L Hughes be directed to repair to the Presidency with as little delay
as possible for the purpose of affording his assistance in the Calcutta mint
Revenue
Consultations (Opium etc). P/89/34. 1st April 1801, No 1
Letter
from the Mint Master (F Mure) dated 12th Novemeber 1800
I
consider it my duty to inform Your Lordship that the laminating office is now
completed with flattening and cutting machines calculated for a large coinage
of gold, silver and copper.
I
beg leave to observe to Your Lordship that some of these machines were formerly
in use in the mint and appear to have been laid aside merely from the
circumstance of the coinage having been entrusted to the management of some of
the head duraps, whose interest it was to have it defeated, and who did defeat
the object intended by making a considerable waste of silver equal to 20 annas
in the thousand rupees, and still demanding a greater allowance for loss.
Being
convinced in my own mind that from the accurate construction of the several
parts of these machines as now erected, the precautions taken in forming the
annealing furnace and by rendering the cleaning of blanks unnecessary, that the
loss of silver must be inconsiderable, or less than what is allowed by the
present mode, I directed three different trials to be made in silver under the
inspection of Mr Spalding, the foreman of the mint, and two of the [malling]
young men, and have now the honor to subjoin the results.
There
is then a list of the trial results
From
the above trials it would appear that the average loss is about 10 annas a
thousand, which is two annas less than the allowance made to the duraps in the
present mode of coinage, and I am fully satisfied that through the whole
operation of an extensive coinage by the means of the machines, no greater
allowance than twelve annas per thousand can be required.
In
addition to the advantages expected to be gained by a coinage by the laminating
and cutting machines over the old mode, a considerable saving in the expense is
certain, and I beg leave to subjoin for Your Lordship’s information a
comparitive statemet of the present expense of coining and forming 20,000
rupees a day per month, with one that would appear to be necessary for a
similar coinage by the machines.
|
To present
durap establishment of 65 shops @ 40 Rs ea |
2600 |
To 19
people employed in laminating & cutting the blanks |
114 |
|
22 feeders
to the concave, cllar & letter dies |
135 |
14 ditto attending
annealing furnaces and carrying bullion to and from the machines |
70 |
|
52 lever
men |
208 |
5 ditto
feeding the letter dies |
35 |
|
1 Headman
in the stamping office |
12 |
20
levermen for ditto |
80 |
|
|
2955 |
32 ditto
for laminating machines |
128 |
|
|
|
1 Headman
for the machine room |
12 |
|
|
|
40 men
adjusting blanks |
240 |
|
|
|
|
679 |
I
take the liberty of apprizing Your Lordship that although I have stated the expense
upon a coinage of 20,000 rupees a day, the usual coinage of the Calcutta mint
upon an average of some years, does not exceed 8,000 in tale daily, or about
200,000 a month. Of course much of the expense would be avoided as many of the
people to be employed are day labourers.
I
also beg leave to mention to Your Lordship that with a proportional number of
adjusters of blanks only, a coinage equal to the duraps upon a full
etsablishment (which was last year 73 shops) might when expedient, be effected
with much greater care through the means of the machines.
If
it shall please Your Lordship under the above statement of facts, to direct the
new mode to be adopted, I request the honour of Your Lordship’s commands,
begging to assure Your Lordship that every attention shall be paid on my part,
to effect a reduction of the expenses of the mint, and making those savings
which are obvious can be made in every department of the mint by a new system
of coinage.
Resolved
that the secretary write the following letter to the Board of Revenue
I
am directed by His Excellency the Most Noble the Governor General in Council to
transmit to you the accompanying extract from the resolutions of Government of
this date, regarding the appointment of a committee for reporting upon the
general state of the mints at Calcutta and Benares, and to inform you that His
Lordship desires you will instruct the Collector at Benares to correspond with
the committee on all matters relative to the coinage of that province.
Revenue
Consultations (Opium etc). P/89/34. 1st April 1801, No 7
Extract
from Department of Reform dated 1st April
Instructions
to the Committee investigating the mint. What they should investigate etc
Revenue
Consultations (Opium etc). P/89/34. 16th April 1801, No 3
Staement
from the Mint Master dated
|
|
Coinage of
30,000 pieces per day in 1794 |
Coinage of
20,000 pieces per day in 1799 |
Coinage of
50,000 pieces per day in 1799 |
|
Foreman’s
Salary |
500 |
500 |
500 |
|
English
Office |
232 |
457 |
457 |
|
Bullion
Office |
583 |
588 |
608 |
|
Melting
Office |
309 |
270 |
442 |
|
Planchet
Office |
1600 |
1120 |
2160 |
|
Stamping
Office |
287 |
254 |
578 |
|
Dye
cutters |
70 |
70 |
70 |
|
Smiths
Shops |
81-8 |
70-8 |
70-8 |
|
Carcannahs
for machines |
298 |
210-8 |
366 |
|
Milling
Office |
300 |
590 |
621 |
|
|
|
|
|
|
Total |
4260-8 |
4130 |
5872-8 |
There then follows a detailed
list of the mint establishment with names of people employed
No 11: Mr Davidson’s letter
of 2nd September 1800, stating that he will leave for Calcutta as
soon as possible
Revenue
Consultations (Opium etc). P/89/34. 28th May 1801, No 1
Governor
General
The Governor
General in Council, understanding that there is at present a great demand for
copper pice, ordered that the Board of Trade be directed to send all the copper
in the import warehouse, which may be fit for coinage, to the mint
Revenue
Consultations (Opium etc). P/89/34. 11th June 1801, No 1
Recommendation that
the remaining 25 durap shops be discharged from the mint
Revenue
Consultations (Opium etc). P/89/34. 29th October 1801, No 2
Letter
from the Accountant General (Mr Tucker) to Calcutta, dated 26th
October
As a supply of
copper coin is much wanted at present both for disbursements at the public
treasuries and as a medium of exchange, I beg leave to recommend that the
Import Warehouse Keeper be directed to send to the mint as soon as possible,
500 maunds of sheet copper fit for the purposes of coinage.
So ordered
Revenue
Consultations (Opium etc). P/89/34. 10th December 1801, No 1
Letter
from the Mint Committee to Calcutta, dated
The European mode
of coinage now practiced in the mint, requiring the constant superintendance of
the foreman, and the apartments occupied by his predecessor having been
appropriated to the service of the mint, it appeared to us that the building at
present used as an assay office might, when repaired, be appropriated for the
foreman’s residence…
Revenue
Consultations (Opium etc). P/89/34. 25th May 1802, No 1
Report of the Mint
Committee on their investigations into the operations of the mint (dated 12th
April 1802), particularly replacing the duraps by machines. They had ordered
that all the duraps should be dismissed from the mint so that they could not
interfer with the laminating and cutting process. They state that the European
mode of making coins was operational in the mint and should continue.
No 4. Letter from
the Governor General to the Mint Committee, dated
…On a
consideration of your report, particularly of the circumstances stated in the
24th paragraph of your letter, the Governor General in Council is
pleased to direct that the European mode of coinage now established at the
Calcutta mint, be continued.
The Governor
General in Council observes that the establishment entertained for conducting
the business of the mint, according to the above mentioned process, does not at
present appear to admit of any reduction. His Excellency in Council at the same
time approves your suggestion for reducing the establishment of the mint
hereafter by diminishing the number of milling boys whenever vacancies may
occur in that branch of the establishment, and finally limiting their number to
three, leaving the machines to be worked by khlassies whenever an unusual
increase of business may require the labor of extra people.
In order to guard
against delay in the delivery of the refined bullion, the Governor General in
Council approves your proposition for publishing an advertisement for the
receipt of proposals for refining gold and silver bullion during the term of
one year. You are accordingly desired to submit to His Excellency in Council
the draft of an advertisement for that purpose.
The Governor
General in Council concurs in opinion with you that it would be advisable to
preclude the officers and workmen of the mint from engaging in the contract.
The Governor
General in Council approves your suggestion for advertising for the receipt of
proposals for supplying charcoal for the use of the mint for the period of one
year, and you are accordingly desired to prepare the draft of an advertisement
for that purpose.
The Governor
General in Council approves your proposition for rendering it the duty of the
Assay Master, or of his deputy, to inspect the workmanship of the money coined
at the mint.
The Governor
General in Council has satisfaction at learning the assistance which you have
derived from the deputy Assay Master.
Under the
circumstances stated in the 22nd paragraph of your letter, it does
not appear to the Governor General in Council to be necessary to pass any
further orders respecting the petitions from the late workmen in the mint which
were referred to you for enquiry and report on the 10th April 1801
and the 16th June last.
The Governor
General in Council approves your recommendation for employing the duraps lately
discharged from the mint, as adjusters whenever vacancies may occur in that
branch of the establishment.
His Excellency in
Council also approves your suggestions for selecting one of the most
intelligent of the milling boys for the purpose of assisting the foreman of the
mint and of being regularly instructed in the different branches of the
business of the mint, and of eventually supplying the place of foreman.
Revenue
Consultations (Opium etc). P/89/34. 8th July 1802, No 1,2
Mr Mure, the Mint
Master, was seriously ill and needed to ‘make an excurtion up the river’. Mr
Plowden is appointed to stand in for him
Revenue
Consultations (Opium etc). P/89/34. 20th August 1802, No 1
Mr Henry Pitts
Forster is appointed as Mint Master during Mr Mure’s absence. Mr Plowden is to
proceed to his new job
Revenue
Consultations (Opium etc). P/89/35. 20th January 1803, No 1
Letter
from the Acting Mint Master, HP Forster to Calcutta, dated
He
had asked the foreman of the mint, Mr Hughes, about the process of melting.
Hughes had designed a new furnace which greatly improved the process.
No.3
The previous acting Mint Master was HC Plowden
Revenue
Consultations (Opium etc). P/89/35. 24th April 1803, No 2
Governor
General
The
Govenor Generalproposes that Mr John Mackenzie be appointed military paymaster
general in the room of Mr Roger Bathurst and that Mr Mackenzie upon furnishing the
usual securities do take charge of that office.
Ordered
that the removal of Mr Mackenzie from the office of Assay Master be
communicated to the proper officers in the General and Revenue Department
Revenue
Consultations (Opium etc). P/89/35. 10th November 1803, No 1
Committee
for inspecting proposed new premises to be added to the mint, 3rd
Novemver 1803
Recommend
purchasing the building
Agreed
Revenue
Consultations (Opium etc). P/89/35. 19th January 1804, No 1
Letter
from MM (F Mure) dated
Mure
asks permission to return to England on account of health
Granted
Revenue
Consultations (Opium etc). P/89/35. 21st June 1804, No 1
Minute
of the GG
The
Governor General in Council, having taken into his consideration the arrears of
allowance due to Mr George Davidson, as late Deputy Assay Master and as Acting
Assay Master, is pleased to direct that the actinf sub-treasuer discharge the
arrears due to Mr Davidson in the former capacity at the rate of allowance
formerly received by him Vizt 1000 rupees per month from the date on which the
payment of that allowance was discontinued until the date of the removal of Mr
MacKenzie from the office of Assay Master, when the former allowance is
considered to have ceased. His Excellency in Council further directs that the
acting sub-treasurer pay to Mr Davidson the established salary of Assay Master
from the date of Mr Mackenzie’sremoval from that situation until the present
period. Ordered likewise that Mr Davidson be authorized to draw that salary
until further orders.
Revenue
Consultations (Opium etc). P/89/35. 12th July 1804, No 1
Letter
from the Acting Mint Master (H.P. Forster) dated
As
Government were induced on my recommendation of the advantages which would
arise from enlarging the premises of the mint to incur a heavy expense in the
purchase of the house and grounds of Mr Gillett, it may be expected that I
should show how far the benfits held out have been realised.
I
therefore beg leave to submit to your Lordship’s inspection a comparitive
statement of the coinage and charges of the Calcutta mint from May 1799 to 30th
April 1804.
However
favourable the statement may appear on the whole, there are some losses and
charges which I have reason to hope will be much reduced in my future accounts,
that is whenever I may have an opportunity of erecting the new furnaces for
melting and refining, which your Excellency authorised, but have hitherto been
delayed on various grounds, particularly on account of their having been merely
adapted to the then circumscribed limits of the mint. I have now to solicit
your sanction to my erecting on a more enlarged plan, so as to provide for the
utmost probable pressure of business, as is the case at present. The difference
between the expense of building them on the new enlarged plan will not bear any
proportion to the advantage from it, and I pladge my honour to adhere to the
strictest economy. I cannot at present state the precise sum it will cost, as
the materials themselves are not procurable in the market, but must be prepared
on purpose, particularly the firebricks.
In
submitting the present account, I feel it my duty to point out in a particular
manner to Your Excellency’s favourable notice, Mr Hughes, the foreman of the
mint, as the person to whose indefatigable application and professional skill I
am entirely indebted for being able to effect the saving which appears on the
face of the accounts, for introducing the business of refining in the mint
could not but necessarily impose a very considerable encrease of labour on him,
yet I found him most heartily disposed to further my views and render me every
assistance in his power to effect this and every other beneficial alteration
which has taken place in conducting the duties of the different branches of the
mint.
I
likewise beg leave to add that exclusive of this additional duty which he has
so voluntarily taken on himself he has been required by Government to construct
and prepare machinery for the Madras Mint, which has proved a very heavy and
laborious charge and I have the satisfaction to say that the best mechanicks in
Calcutta who have from time to time inspected the work, admitted it to be
executed in a masterly manner, and I am fully persuaded will meet the
approbation of Government.
I
trust your Lordship will consider his superintendance of it as an extra duty
not necessarily connected with his situation as foreman of this mint,
independent of there not being any single tradesman in Calcutta capable of
contructing the different parts of it as it embraces at least three or four
distinct professions. I am confident no tradesman in Calcutta would contract to
make it for less than fifty per cent above what it will cost Government by
being made in the mint.
As
the refining the bullion in the mint is now fully established and will prove a
permanent saving to Government, so it will continue a constant addition to the
foreman’s personal labour. I therefore humbly beg leave to recommend the
circumstance to your Excellency’s liberal consideration, not doubting if he
meets encouragement from Your Lordship, he will exert his best endeavours to
carry the improvements which the business is still capable of receiving to a
very superior degree of perfection.
This
is all sent to the Mint Committee for their comments.
Revenue
Consultations (Opium etc). P/89/35. 2nd August 1804, No 1
Governor
General
The
Governor General proposes the following appointment
Mr
H P Forster Mint Master at the Presidency
Revenue
Consultations (Opium etc). P/89/35. 16th August 1804, No 1
Letter
from sub-treasurer dated
I
have the hohor to enclose the second of the set of bills of lading of the
copper pice, laden on the ship scourge and consigned to Colonel George Harcourt
and John Melville Esquire, Commissioners for the affairs of Cuttack.
Revenue
Consultations (Opium etc). P/89/35. 30th August 1804, No 1
Letter
from Mint Committee (Mr Cox & Mr Davis) dated
We
have the honor to acknowledge the receipt of Mr secreary Dowdeswell’s letter of
the 12th ultimo, enclosing copy of a letter from the Acting Mint
Master, and a statement of the coinage and charges of the Calcutta mint from
May 1802 to April 1804, compared with the average of the three preceding years,
and directing us to report our sentiments thereon, as well as on the various
propositions submitted by Mr Forster.
With
regard to the statement, we are of opinion that if it was intended to exhibit
the decrease in the charges of coinage since the introduction of the new
machines, the comparison of the charges of the mintduring the time it has been
under the superintendance of Mr Forster, should have been confined to the year
preceding his taking charge (Vizt 1801/2), when the laminating machines and
cutters were first introduced.
We
beg leave to observe that when the present mode of coinage was recommended for
introduction by the late Mint Master, Mr Mure, he stated that a considerable
reduction of the fixed expense would be effected and a better wrought coinage
produced by the use of machinery, than was delivered to the public by the
method then practiced, and that the committee in their report on Mr Mure’s plan
also stated their expectation that the dismissal of the duraps would occasion
an immediate reduction of charge, and that a further reduction might be expected
when the workmen became familiarized to the new mode of coinage. The attention
paid by Mr Forster to the duties of his office, and the improvement suggested
by Mr Hughes, the foreman, have doubtless contributed to perfect the
introduction of the machinery, and thereby fulfill those expectations, but the
apparent reduction in the charges for the year 1803/4 may in part be ascribed
to the large coinage in that year, for a considerable part of the expense of
the mint being a fixed monthly charge, the decreased rate per cent of the
expense of coinage will in a great degree depend on the amount coined. In proof
of this we beg leave to refer to Mr Forster’s statement, by which it appears
that in the year 1799/1800, during Mr Mure’s administration when bullion was
not refined in the mint and the new machinery not used, the rate per cent of
the charge of coinage was, in consequence of the large amount coined, less than
in 1802/3, when the machinery was used.
We
are not aware that the purchase of Mr Gillett’s premises has yet contributed to
lessen the charges of the mint, because the refining furnaces are not yet
erected thereon. A large quantity of bullion has been refined in the mint in
the ordinary process observed by the natives, and the conducting the operation there,
is attended with advantage to Government, and expedites the business of the
mint. Additional labour has certainly devolved on the foreman, whose exertions
and skills are highly commendable, and when the furnaces are erected further
savings in the expense of the mint may be expected.
We
concur in opinion with Mr Forster that the furnaces to be erected for melting
and refining should be calculated to meet any pressure of business that may be
expected to occur, and altho’ it may not be practicable to state the precise
sum necessary to be disbursed, yet we beg leave to recommend that an estimate
of the probable expense to be incurred, may be submitted to Your Lordship in
Council, previous to commencing the furnaces upon the proposed scale.
When
the whole of the machinery for the Madras mint shall be completed, we are of
opinion that it should be inspected and reported on. The construction of the
machinery is an extra work, not connected with the office of foreman of the
Calcutta mint, and as such, Mr Hughes, to whose talents and assiduity we beg
leave to add our testimony, will on the completion of the work, in our opinion,
be entitled to a compensation from Government.
We
have the honor to return the statement…
From
the statement the Annual Coinage of the Calcutta mint can be extracted:
|
|
Gold in
mohurs |
Silver in
Sa Rupees |
|
1799/1800 |
138,487-4 |
8,991,559 |
|
1800/1801 |
101,106-8 |
1,093,749-8 |
|
1801/1802 |
104,068 |
3,345,020 |
|
1802/1803 |
129,678 |
4,704,086 |
|
1803/1804 |
89,489 |
7,741,784-4 |
Revenue
Consultations (Opium etc). P/89/35. 13th September 1804, No 1
Letter
from the Mint Master (Forster) dated
I
have to request you will be so good as to take the earliest opportunity of acquainting
His Excellency the Most Noble the Governor General on Council of the death of
Mr Hughes, the late foreman of the mint, and at the same time please to mention
that I beg leave to recommend Mr John Bentley as a gentleman well qualified to
be his successor being thoroughly acquainted with the mechanics in general, and
as the executive duty of the mint depends so much on the foreman, I hope His
Excellency will excuse my anxiety to be honored with the confirmation of the
gentleman I have recommended as early as possible.
Refered
to the Mint Committee
Revenue
Consultations (Opium etc). P/89/35. 11th October 1804, No 1
Letter
from Mint Committee dated
…The
Mint Master states Mr Bentley to be thoroughly acquainted with mechanicks in
general. This recommendation we presume applies chiefly to the theory of
mechanics and on this point it was our intention to have made the enquiries
directed by Your Lordship in Council, but having received a letter from Mr
Jones, copy of which we beg leave to enclose, stated that he had superintended
laminating machines in Europe, and soliciting the office of foreman of the
mint, we directed him to attend us, and from personal enquiries we have reason
to believe that he posses a knowledge of mechanicks, both in theory and in
practice, sufficient to qualify him for the office he solicits, and we
accordingly beg leave to recommend to Your Lordship in Council, that Mr Jones
may be appointed foreman of the Calcutta mint.
There
was also an application for the job from a Mr Tanner and the Committee were
ordered to consider that before any decision was reached.
Revenue
Consultations (Opium etc). P/89/35. 18th October 1804, No 1
Letter
from Mint Committee dated
Recommended
acceptance of the Assay Master’s proposal that a Mr Cuthbert be appointed
foreman to the Assay Master. Mr Hughes had previously been appointed to help,
but seldom had time and the Assay Master now needed a full time person.
In
a second letter they considered that Mr Tanner was not as well qualified as Mr
Jones.
However
the GG thought preference should be given to Mr Forster’s choice, Mr Bentley,
and the Committee was asked to investigate his qualifications more fully.
Revenue
Consultations (Opium etc). P/89/35. 1st November 1804, No 1
A
Mr Jacobi applied to the Mint Master to replace Mr Hughes. MM thought he would
be very well qualified
Since
the Mint Committee had not reported back, the GG appointed Mr Jacobi as foreman
to the MM, and Mr Cuthbert as foreman to
the Assay Master.
Board’s Collections. F/4/1016.
Extract Public Letter to
The
state of the coinage of India has been frequently brought before us in the correspondence
of our several governments, and we have been for some time fully impressed with
the necessity of giving to this important subject a full consideration, but we
have been more immediately stimualted to this in consequence of a report made
to us of a loss being suffered in the Calcutta mint in the recoinage of dollars
into sicca rupees to the amount of 2 per cent. This circumstance induced us at
once to institute an enquiry into the situation of the mints & coinage
under our several presidencies, with the intention of applying as effectual a
remedy to the existing defects as may be in out power.
With
the view to obtaining the fullest information, the Mint Master’s accounts from
From
the attention that has been given to the above mentioned accounts and
documents, we are fully convinced of the inefficiency of the present system of
our mints and coinage; the losses we have constantly sustained, and the
inconvenience the public service has suffered n consequence thereof; and from
the circulation of so many denominations of gold and silver coins of different
values in different districts; these losses we find to be of a magnitude far
beyond our expectation.
We
have noticed also the recommendations expressed in some of those papers for the
adoption of one general system for the formation of the coin, for the currency
of the whole of our possessions on the continent of Asia, which has our most
entire approbation, as we are fully satisfied the various evils complained of
can only be remedied by the introduction of a gold and silver coinage of one
weight and fineness; such coin to become the universal measure of value for
British India.
It
is our intention to enter into the consideration of the subject, and to detail
our views and opinions, that our several governments may reporttheir sentiments
thereon, in order to supply us with the most perfect information upon this
important subject, previous to our final decision upon a plan which shall
embrace every practical advantage within our reach.
In
the presecution of our enquiries we have referred to a letter from the Earl of
Liverpool to the King, on the coins of the realm (lately published), copies of
which we transmit with the present despatch. We think his Lordship has
established the principle that “money or coin which is to be the principle
measure of property ought to be of one metal only”. In applying this argument
to a coin for general use in
Assuming
that the coin for general use in
Calcutta sicca
rupee Troy grains 179 2/3
Madras Arcot rupee 176 2/5
The weight of the coin originally
issued from the Moghul mints we understand was uniformly one sicca, or ten
massa, being troy grains 179 2/3 or 179.5511 decls. We should be inclined to
propose this weight for the coin under consideration, did we not think it would
answer a good purpose to fix the gross weight in whole numbers; we should therefore
prefer the weight of troy grains 180 as the nearest to the sicca weight, and in
so doing we are not aware of any inconvenience resulting therefrom at either of
our Presidecies, but we are rather inclined to think the measure will be found
useful in as much as it will produce a greater degree of simplicity in the
valuation of the coin in respect to other money. But we are by no means
desirous of effecting an alteration in the standard weight of the currency of
Bengal, should our government there be of opinion it would be likely to prove
the foundation of a new batta, or of any other inconvenience sufficient to
counterbalance the advantages we expect in the calculation of the relative
value of Indian and other coins.
Assuming the standard weight of the
new rupee to be 180 troy grains, the next point to be considered is, the proper
standard fineness. Upon the subject of the fittest alloy for coin, and its
proportion to the quantity of fine metal, our attention has been directed to a
“report made to the Right Honble the Lords of the Committee of Privy Council,
appointed to take into consideration the state of the coins of this country,
and the present establishment and constitution of His Majesty’s mint, January
1803”. In this report (copies of which are forwarded) the British standard for
gold coin, 1/12th alloy and 11/12th fine is, by a vaiety
of extensive experiments, proved to be the best proportion, or at least as good
as any which could have been chosen; and that such alloy for gold coin may be
of fine Swedish copper, so as to answer every purpose of a mixed proportion of
silver, without occasioning any further waste of that metal. There is no reason
to doubt that 1/12th alloy of copper would be equally proper for
silver coin; it has certainly the advantage of greater facility in the
valuation of the coin. Therefore we are of opinion this proportion should be
adopted for the coin proposed; in which case the new rupee would be of the
gross weight of troy grains 180
Deduct 1/12th alloy 15
& contain of fine silver 165
The fine silver in the
That the shroffs and other
speculators in money and exchanges will endeavour to impede the circulation of
the new rupee must be expected, as every change will be opposed by them that
has in its consequences the prevention of their destructive interference, and
the reduction of those profits they have hitherto obtained at the expence of
the public and the Company.
But we trust the opposition of the
description of persons above allude to, will not prevent the adoption of the
recommended rupee for general currency, as it appears so extensively useful as
a measure of value, by approaching so near the value of the Madras Arcot, the
Bombay, Benares, Lucknow and Bareilly rupees; as also to the sonaut rupee, in
which the pay of the Bengal army is calculated.
The report then goes on the show the
amount of silver in the
Letter from Mr Egerton (Accountant General) to
Calcutta Board, dated
He
asks that Mr Sherer should be appointed to the Mint Committee either in his
place, or in addition.
This
is granted.
Bengal Public Consultations. P/6/48. 23rd
July 1807. No 39 to 46
Letter from the Mint Committee to Calcutta Board,
dated
Mint
Committee is composed of RW Cox, W Egerton, J W Sherer, Geo Davidson
This
is a covering letter preceding the Mint Master’s (Mr Forster). It concerns the
coining of silver and starts by comparing the coining of Spanish Dollars in
Madras compared to Calcutta. Calcutta apparently did it better. Mr Forster than
goes on to discuss how much better the Calcutta Mint has performed under his
direction and discusses how it could have been even better if his advice was
followed. The Mint Committee are sceptical about his claims and at one point
state:
Melting:
This loss is very considerable and has incurred since the introduction of the
new machinery. We cannot however concur with Mr Forster in his proposition to
revert, in consequence of it, to the old method of coining by Duraps, dor we
are of opinion that the actual loss which has hitherto been incurred in the
process of melting, may be lessened and the rates reduced, but the necessity of
remelting so much bullion may in great measure be obviated by care and
attention.
The
small ingots cast by the duraps in the native mode are divided into pieces
intended to weigh one sicca rupee. The workman is guided solely by his eye in
cutting the ingot, and scarce any one piece is cut of the exact weight, though
by use and experience the duraps come to it. By this mode plugging is more
frequently resorted to than when the machinery is used and experience is
requisite to fabricate the coin well by duraps. If a large quantity of bullion
is required to be converted into coin on an emergency , where are expert
workmen to be procured? In using the machinery with an expert foreman and
assistant, the whole of the machinery may be employed by the addition of extra
workmen who do not require any extraordinary skill. It is true that an adept
will cut out thirty blanks in a minute, and one who is not used to it will fall
rather short of that, but by the employment of all the cutting machines and
changing the workmen, it is practicable to cut out 300,000 blanks in eight
hours, the usual working period in the mint, and the numbers might nearly be
doubled by working twice that time . On extraordinary occasions when the duraps
were employed we are informed that working night and day with the greatest
number of them that could be collected, the coinage did not exceed 80,000
rupees, while by the present establishment a lac has frequently been coined.
Letter
Mint worked by
cattle
Resolution
The
Vice President in Council understanding that a supply of copper is much wanted
at this Presidency for the purposes of coinage, ordered, that the Governments
of Fort St George and Bombay, be requested to give orders that any copper
remaining in store at those premises, which may be fit for the purpose of
coinage, and which may not be required for the service of those governments, be
sent round to Bengal by the first safe conveyance.
Bengal Public Consultations. P/7/30, 13th
April 1810. No 16 & 17
Letter from the Mint Committee to Calcutta
Government, dated
We
have the honor to acknowledge the receipt of Mr Secretary Dowdeswell’s letter
dated the 17th Novemver last, transmitting copy of a letter and
enclosure from the Board of Commissioners representing the difficulties which
have been experienced in bringing the new copper coinage into circulation in
the Benares province, and desiring that we will report our sentiments as to the
best mode of disposing of the double and half pice coined for the use of that
district, and submit any further observations or proposition which may occur to
us from a perusal of those papers.
We
were certainly led to believe from the information received from the late Mint
Committee that the utmost distress was experienced in the province of Benares
for want of a sufficient supply of copper currency, but so far from this being
the case it appears from the Board of Commissioners report that the old
currency is either sufficient for the requisite circulation, or that the
shroffs possess the means of supplying every deficiency in it.
We
should therefore [regret] exceedingly that we did not possess more accurate
information on this subject at an earlier period. If we had not reason to
suppose that nearly the whole of the copper money coined for the use of Benares
had been exported to Behar, where it passes equally current and at the same
value with the Calcutta pice and consequently answers the purposes of
circulation nearly as well as if an equal amount of Calcutta pice had been
issued.
We
have reason however to believe that the quantity of pice in circulation in
Calcutta and the lower provinces is inadequate to the demand for them, and we
are therefore of opinion that the first consideration should be to supply that
circulation to the utmost extent required before any further attempt be made to
introduce a new description of copper currency into the province of Benares
where it appears neither to be required
nor wishes for by the inhabitants in general.
We
shall not pretend to say that the shroffs may not make an undue profit from the
traffic which is carried on by them in copper monay, and which as the late
Benares Mint Committee observe, may operate in some degree as a hardship on the
public, but it is evdent that it cannot be any serious grievance or the new
copper monay would have obtained as ready a currency as it has done in Behar.
Ig
however a supply of copper money were more urgently required for the use of the
province of Benares than appears to be the case, it would be impracticable to
furnish it within the period which has been fixed by regulation 10 of 1809, as
there is no copper in stroe fit for the coinage of pice, and we beg leave
therefore to suggest that the provisions contained in that regulation may be
postponed until circumstances will admit of the coinage being carried into
effect with less inconvenience to the public service than it could be at the
present moment, even if there were a sufficient supply of copper in store.
There3
is at present in the mint a crore of rupees of gold and silver bullion and as
the quantity daily brought for coinage by individuals is an average from 20 to
30,000 rupees per day, and the daily coinage only about 100,000 rupees, a
considerable time must elapse before the mint establishment can be spared for
the coinage of copper monay, and when the officers of the mint are at leaisure,
we are of opinion that it would be more advantageous to the public interests
that they should be first employed in the coinage of Calcutta pice to the
utmost extent that they may required before the copper coinage for Benares be
again resumed.
With
a view however of enabling the officers of the mint to resume the copper
coinage as soon as may be practicable, we beg leave to recommend that the
Governments of Fort St George and Bombay may be requested to send to Bengal all
the sheet copper which can be spared of the thickness of the enclosed gauge.
The
quantity of copper snet out for some years past has been very considerable and
there is at present a large quantity in store but unluckily none of the proper
thickness required for coinage. We beg leave therefore to enclose two gauges
shewing the exaqct thickness of the copper used for coinage for the purpose of
being sent to the Honble Court of Directors with a request that a large
quantity of the copper annually sent out may be of the prescribed thickness.
We
estimate a coinage of at least ten lacks of rupees to be necessary for the
lower provinces and Benares, and we therefore beg leave to recommend that from
400 to 500 tons of copper may be requested to be sent out by the earliest
opportunity of the proper quality and thickness.
The
Judicial Department was to be informed that rgulation 10 of 1809 should be
postponed.
Letter
from Calcutta Government to the Mint Committee, dated
…and
to inform you that Government concur with you in opinion with respect to the expediency
of dicontinuing the coinage of copper for supplying the circulation of Benares,
and that it also appears to them expedient that the operation of regulation 10
of 1809, in that province, should for the present be postponed.
Previously
to the recipt of your letter, the Government of Fort St George and Bombay had
been requested to send round to this Presidency by an early opportunity any
quantity of copper fit for the purposes of coinage, which could be spared from
the public store at those presidencies, and for their more particular
information, the gauges furnished by you will be immediately forwarded to
Madras and Bombay.
The
Honble Court of Directors will also be requested to furnish hereafter, an
annual supply of copper fit for the purposes of coinage, to the extent
recommended by you.
There
then follow letters to Madras and Bombay with the gauges.
Bengal Public Consultations. P/7/30, 21st
April 1810. No 27, 28, 29 & 30
Series
of letters and reports about the Assay Office, recommending that it be pulled
down and rebuilt further away from the river.
An
estimate of the costs if requested.
Bengal Public Consultations. P/7/31, 11th
May 1810. No 22 & 23 & 24
Letter from the Mint Committee to Calcutta
Government, dated
States
that tenders for refining gold and silver bullion were much higher than in the
past, and they therefore recommended that refining should be undertaken in the
mint. They were not sure how much this would cost, and recommended that a
series of trials be conducted.
They
recommended that the cost of refining should be covered a a charge of
seignorage of 1½ per cent. They beived that this should work because a charge
of 1½ has been levied on gold coinage since 1792, without any adverse effects.
The letter goes on:
…
& the only reason which seems to have existed against levying a duty at the
same time on the silver coinage was the expediency of giving encouragement to
the importation of silver bullion in preference to gold bullion.
At
the period the duty on gold bullion was first established, and for several
years after, the quantity of gold coin in circulation so greatly preponderated
that more than 2/3 rds of the revenues of the lower provinces were paid in gold
& Government in consequence experienced a considerable loss every month
from the necessity which they were under of exchanging gold or silver for the
payment of the troops, provision of investment, etc.
Of
late years however, the gold coin has passed equally current with silver &
no batta has been known to exist, & as it may be inferred from the
following statement, furnished by one of our members, of the coins in which the
revenues of Bengal Behar and Orissa have been paid during the last 13 years,
that the quantity of silver money has been gradually increasing, that at
present the principle part of the currency in circulation in Calcutta and in
the lower provinces, consists of silver money, and that the bullion which has
been imported into this settlement of late, has consisted chiefly of silver,we
conceive it to be no longer necessary to exempt the silver coinage from the
payment of the proposed duty as there will still be a difference of 1 per cent
in favor of the importation of silver bullion…
There
then follows a table showing the payments of revenue from 1796/7 to 1808/9.
Amount paid in gold goes from 20.1 million rupees to 1.8 million. In silver
goes from 6.8 million to 27.0 million
These
suggestions are accepted.
Bengal Public Consultations. P/7/31, 19th
May 1810. No 16
Letter from Calcutta Government to the Mint
Committee, dated
Send
specimens of copper and copper coins received from Madras asking if this copper
would be suitable for producing a copper coinage at Calcutta.
Bengal Public Consultations. 20th
June 1810. No 14 & 15
Estimate
of pulling down the existing assay office and rebuilding it
Bengal Public Consultations. 29th
June 1810. No 105, 106
Letter from Calcutta Government to Mr Forster, dated
Asking
him to provide the explanation that had been requested of him. If not then the
necessary steps would be taken without his explanation
Letter
from Mr Forster to Calcutta Government, dated
Explaining
that he had not replied because he needed information from the mint officers
and these people had been fully occupied with the Company’s attorney. However,
he hoped that he would have access to these people soon.
The
Advocate General was ordered to proceed immediately to take whatever measures
were necessary without waiting for Forter’s explanation
Bengal Public Consultations. 13th
July 1810. No 38, 41
Letter from Mr Forsterto Calcutta Government, dated
When
I acknowledged on the 25th ultimo the receipt of your letter of the
23rd, and explained the cause of the delay in replying to yours of
the 24th May, down to that period I was in hopes of being
immediately enabled by the attendance of Ram Sunker Neugye, the late bullion
keeper, to have obtained from him the necessary information, but I have now to
state for his Lordship’s information and orders, the steps instantly took and
what has been the result and have to hope I shall stand acquitted not only for
all blame for the delay, but freed from the ill consequences held out in your
letter of the 23rd ultimo in case of any further procratination on
my part as it would be a severe hardship on me to be subjected to a prosecution
thro’ the capricious default of another. I therefore beg leave to represent
that immediately on my receipt of your last mentioned letter, I sent word to
Ram Sunker Neugyeto meet me at the mint, which he did on the 26th
and I stated to him the nature of the call that had been made on me and the
points on which I required an explanation and urged his speedy compliance. To
this he readily acquisced and only required a day or two to give it. But after
a second and third delay and ultimately a positive refusal, I tod him I found
myself under the necessity of applying to one of the magistrates to ascertain
whether I could not compel him to give the information required, and went
accordingly to the police office to state the circumstances, but as it was then
late, the office was shut and before I could make the application. The next
day, late in the afternoon, I received a note from the Honble Company’s
attorney dated 3rd July acquainting me that Ram Sunker Neugye had
several times represented to him that I had threatened to put him under charge
of peons to force him to make his deposition at my house and that tho he had
assured him I could not think of adopting such a measure, still he could not
remove his alarm and had therefore written to me on the subject, in reply to
which I requested he would desire Ran Sunker
to attend and I would call next day, which I did, when he entirely explained
away his former representation, and before I left him agreed to give me the
information sought for and attended the next day at the mint for the purpose,
but from motives unknown to me he returned home without furnishing a single
explanation.
Under
these circumstances, I am compelled to solicit the interposition of his
Lordship and that orders may be given for him to attend me at the mint and that
no steps in the meantime may be taken to my prejudice, as my answer is delayed
solely for want of his explanations.
From
the expression several times in Mr Taylor’s note, it is clear Ram Sunker Neugye
had previously determined on withholding an explanation, tho’ he continued to
amuse me with promises thus unnecessarily extending a delay already too long
tho’ he was aware of the serious consequences it might be to me.
This
was forwarded to the Advocate General with a covering letter telling him to
take it into account as he considered appropriate.
Letter
from the Advocate General to Calcutta Government, dated
…I
request you to assure the Right Honble the Governor General in Council from me
that all due attention shall be paid to the interests of the Honble Company in
regard to their claims of a civil nature against the several individuals
implicated in the transactions of the mint. But there is another question
concerning Mr Forster. He stands affected with strong proofs of a breach of
public trust, for which, unless he can clear himself, I suggest he should be
prosecuted criminally, and it is with relation to that measure that I beg leave
respectfully to call the attention of Government to his letters of the 25th
ultimo and 6th instant.
Mr
Forster was informed by your letter of the 24th May that in the
course of an investigation into certain transactions at the mint, grounds had
appeared for charging him with having, in different instances which were
pointed out, made use himself, and allowed others to make use of, the public
treasure under his charge for private advantage.
He
was informed that the books and accounts of the mint and such other accounts
relating to the matters in question as had been kept by the late native cask
keeper, would be open for his inspection and that those accounts exhibited the
particulars of the transactions in which he appeared to be implicated.
I
think it clear that the charges against Mr Forster are such in their nature
that a public officer ought to be able to give an answer to them at once from
his own consequence and his own recollections. Such an answer at least as he is
alone called upon by Government to give. For he has not been required, nor
would it be fit that he should, to go into proofs, but merely to tell his own
story, which must consist of course either in a denial of all knowledge of the
practices imputed to him, or in the admission and explanation of the whole or
part of the facts. In the former case he cannot have the least occasion for any
reference to others, and in the latter in must be supposed that he is
sufficiently in possession of a story which concerns him so nearly, to be able
to state it, if not with entire precision, yet fully enough to enable
Government to make such further enquiries as may be necessary for his
vindication and its own satisfaction. This is all he is called upon to do, and
even this it is of course in his option to do, or to decline it. But I can see
no reson whatever for the interposition of Government in the way in which he
asks it. It would be irregular as an exercise of authority, and it is at least
unnecessary till Mr Forster states what are the points upon which he requires
explanations from the Bullion Keeper, and shews in what way he can be prevented
by the want of them from saying whether he did or did not, or if did upon what
grounds he did, himself make use of, or permit others to make use of the public
treasure for their private purposes.
I
therefore submit that Mr Forster should be required either at once to submit
what he has to say in his vindication, or to state that he declines so doing,
and reserves his defence for a court of justice. It may be proper at thew same
time to inform him that he is at liberty to take the latter course without the
least prejudice, and that in calling upon him for an explanation, Government
has no intention to exact a disclosure which may commit him, but to give him
the opportunity of averting a public prosecution if he has the means and
inclination to avail himself of it. The delay which has already taken place
will render it impossible to bring the matter forward in the Supreme Court
(should it be ultimately necessary) before the next term. There would be
nothing to regret in this if any sort of progress had been made by Mr Forster
towards his own vindication upon any one point of the charges, but I cannot
help saying that the time appears to me to have been merely wasted on his part.
And without taking anything for granted, I submit that the evidence is so
strong as it stands, that Government cannot consistently with a due regard to
public example refrain from acting upon it without very serious proof on the
part of the accused of a disposition to clear himself.
Mr
Forster will have every opportunity of being heard in a court of justice, and
if he does not think fit to avail himself with the least possible delay of the
opportunity which has been afforded him, I think he should be heard in a court
of justice only.
Letter
from Mr Forster to Calcutta Government, dated
…The
charges of an abstract nature relate
1st
, to my having a howalut or running account
2nd,
To the transactions with the house of Muthoor Mohun Sane regarding their
detention for a length of time of the bullion committed to them to refine and
ultimately paying in cash instead of returning bullion
3rd,
Allowing the above house to have a howalut account to a considerable amount
4th,
the same respecting Shib Chunder Mitter
The
other matters involve matters of suspicion, Vizt
1st
arising from the mode in which my howalutis stated to have been closed on
2nd
the transactions respecting the debits and credits of 75,172 Rs 9 As 10 P, in the
names of Huboo and Tilok in December 1808, January and February 1809, whilst
the monay was only received from the house of the said Sanes in the following
July and August and that false entries were made with mu privity.
He
then goes on to plead gulity to the charges and tries to explain the mitigating
circumstances.
This
was passed to the Advocate General, who was asked for his views.
Bengal Public Consultations. 10th
August 1810. No 40
Letter from the Acting Mint Master (Davidson) dated
The
copper from Madras is no good for making pice
Bengal Public Consultations. 24th
August 1810. No 41
Letter from the Acting Mint Master to Government,
dated
Since
the Assay office is about to be demolished, he asked for permission to build
some temporary furnaces to assay gold and silver.
Granted.
Bengal Public Consultations. 6th
September 1810. No 21
Letter from the Acting Mint Master (Davidson) to
Calcutta Government, dated
I
want very much for the use of the mint about 100 balck churnar stones for
making pice by the hammer, and request you will be so good as to procure an
order to Colonel Garstin to deliver this number to me from the stores at Cooley
Bazar, where they are lying. If they should afterwards be wanted for any public
purpose they can be returned.
Bengal Public Consultations. 14th
September 1810. No 10,11, 12
Letter from the Mint Committee to Government, dated
We
have the honor to acknowledge the receipt of Mr Secretary Tucker’s letter dated
the 19th May last, requesting us to submit our opinion as to the
expediency of either the copper, copper coin, or copper scissel, being sent
round to this Presidency from Fort St George.
we
were expecting that the Europe ships would have brought a supply of copper from
Europe but as we are informed it is the intention of the Honble Court of
Directors only to send out 150 tons of copper this season, that there is hardly
in copper in stroe which can by any process be manufactured into coin, and that
the demand for a supply of copper money is extremely urgent, we would beg leave
to recommend that all the copper in store at Fort St George may be sent round
to the Presidency by the earliest opportunity.
If
we should be disappointed in our expectations of converting the copper into
coin, we have no doubt it can be disposed of here on much more advantageous
terms than at Fort St George and for this reason we would beg leave to suggest
that all the copper sissel in stroe at Fort St George may also be sent to this
Presidency.
With
respect to the London made copper coins at Fort St George, of which there is
stated to be eight thousand pagodas worth in store and which cannot be brought
into circulation at that Presidency, we are opinion that the twenty cash pieces
might be circulated here at the value of one and a half of the Bengal pice, and
that in the present scarcity of copper coin it would be advisable to send the
whole lot to Bengal.
There
are about 600 maunds of copper for sale in this settlement which can be
procured on reasonable terms and which can be converted into coins either
through the mills or by manual process with the hammer, and we beg leave to
recommend that the Acting Mint Master may be accordingly authorized to purchase
it.
All
granted
Bengal Public Consultations. 26th
September 1810. No 12 to 21
Letter from the Advocate General to Government, dated
Restates
the case against Mr Forster and, in his opinion, all the information available,
confirms Mr Forst’s guilt
Bengal Public Consultations. P/7/34. 5th
October 1810. No 9
Minute and Resolution
The
Governor General proposes the following appointments
That
Mr George Davidson be removed from the situation of Assay Master, and appointed
to the office of Mint Master at the Presidency
That
Doctor I Leyden be removed from the situation of Commissioner of the Court of
Requests, and appointed to the office of Assay Master at the Calcutta mint.
That
Mr H Wilson, the present assistant to the Assay Master be appointed to
officiate at the same time as assistant to the Mint Master, whenever his
services may be required in that department
The
Governor General proposes at the same time that the salary of the office of
Assay Master at the Calcutta Mint be reduced from sicca rupees 2,250 to sicca
rupees 2,150 per month, and that with a view to afford the assistant Mr Wilson
some pecuniary remuneration for his services in performing the additional duty
which may from time to time be imposed upon him, the salary of his office be
augmented from 500 to 600 rupees per month from the present date.
The
Governor General considering it equitable also that some consideration should
be made to Mr Wilson for his services during the period in which he has
officiated as Assay Master, he proposes that an extra allowance of 500 rupees
per month be granted to Mr Wilson for the period in question.
Bengal Public Consultations. P/7/34. 12th
October 1810. No 2
Letter from Mr Forster to Calcutta Government, dated
7th Octover 1810
Stating
that he can’t answer the charges about his Howalut account because the late
bullion keeper still won’t allow him access.
Letter
forwarded to the Advocate General instructing him to take whatever steps he
deems apprpriate.
Bengal Public Consultations. P/7/34. 19th
October 1810. No 78
Letter from Mr Forster to Government, dated
Asks
that he be allowed the salary of an unemployed civil servant from the time of
his removal from the mint.
Granted.
Bengal Public Consultations. P/7/35. 10th
November 1810. No 66
Letter from the Accountant General to Calcutta
Government, dated
Asking
that the amount of approx 190,665 Rs should be transferred to the personal debt
of Mr Forster.
This
is passed to the Advocate General to check that there will be no problems if
other people, as well as Mr Forster, were involved in the fraud
Bengal Public Consultations. P/7/35. 10th
November 1810. No 71
Letter from the Mint Master (Mr Davidson) to Calcutta
Government, dated
Asking
that the tresury pay for copper that had been bought from Messrs Colwins &
Co, for the copper coinage.
Agreed
Bengal Public Consultations. P/7/35. 16th
November 1810. No 34
Letter
stating the Assay Office has been pulled down and new foundations laid. Asks
that a committee be formed to inspect the work.
Agreed
Bengal Public Consultations. P/7/35. 30th
November 1810. No 30,31
Report
of the committee appointed to look at the foundations of the new assay office.
They found that it was not safe to continue with the building in that place.
Bengal Public Consultations. P/7/36. 7th
December 1810. No 29
Superintendant
of police asked to be sent a form every month detailing who had taken gold and
silver to the mint to be coined. He was suspicious that stolen gold and silver
ornaments were melted and then taken to the mint for coining.
The
MM was ordered to comply
Bengal Public Consultations. P/7/36. 7th
December 1810. No 44
Letter from Mr Forster dated 30th Novemebr
1810
Asks
to be given access to any mint documents he may need to defend himself against
the criminal charges that have been brought against him.
Passed
to the advocate general
Bengal Public Consultations. P/7/36. 14th
December 1810. No 27, 29, 30
Series
of letters from Advocate general etc resulting in Mr Forster being informed
that he cannot have general access to all mint papers, but if he can state
which ones he needs, then he can have acces to those.
Bengal Public Consultations. P/7/36. 20th
December 1810. No 34
Mint
Master requests that he be allowed to have the mint buildings repaires, painted
and white-washed. This has not been done since 1806.
Granted.
Bengal Public Consultations. 11th
January 1811. No 41, 42
A
new site has been located for the new assay office
Bengal Public Consultations. 11th
January 1811. No 47, 48, 49
Letters
from Mr Forster offering to pay the interest due on any monies that he may have
misappropriated.
Bengal Public Consultations. 26th
January 1811. No 74
Authorisation
is granted for the expense of pulling down the old house on the proposed site
of the new assay office, and building the new assay office
Bengal Public Consultations. P/7/39. 16th
February 1811. No 65
Letter
from GG to Mr Forster about the missing documents. Mr Forster has all the
papers as far as GG knows. If there are any others, then Mr Forster needs to be
specific about what they are.
Bengal Public Consultations. P/7/40. 23rd
February 1811. No 56
Letter from the Assay Master (J. Leyden) to Calcutta
Government, dated
The
plans for the new assay office need some adjustments.
Forwarded
to the Mint Committee
Bengal Public Consultations. P/7/40. 22nd
March 1811. No 11 to 19
Letter from J Taylor, Attorney, to Calcutta
Government, dated
I
beg to report for the information of the Right Honorable the Governor General
in Council that on the 10th January last an information was filed in
the supreme court against Henry Pitts Forster Esq, [late] Mint Master of the
Honourable Company’s mint at Calcutta, for a misdemeanor in having while in
charge of the duties of that office been guilty of a breach of trust by
converting to his own use certain bullion, the property of the Honourable
Company.
On
the same day another information was filed against him for a demeanor in having
while holding the same appointment leant to Netoy Churn Sean and Mothoormohun
Sean, bullion also the Honorable Company’s property; to both of which
informations he on the 15th of the same month pleaded not guilty.
On
the 5th instant, Mr Forster was tried upon the latter information
and found guilty of a breach of the trust and duty of his office but without a
fraudulent intention and was this day brought up to receive the judgement of
the court. He was sentenced to pay a fine of 100 rupees to the King, to be
imprisoned in the common jail of Calcutta for the period of six calender
months, and to be further imprisoned until his fine be paid.
On
the 11th instant Mr Forster was tried on the other information above
mentioned but no evidence being adduced on the part of the prosecution ( in
consequence as I have been informed by the Advocate General [of] a
communication to him that such was the pleasure of Government) the defendant
was acquitted.
Bengal Public Consultations. P/7/41. 29th
March 1811. No 35, 36
Letter from Forster to Government dated
Asks
to be exhonorated of charges brought against him, other than those he has
already admitted to.
The
reply states that Calcutta Government will take no further action, but will
send all the papers to
Bengal Public Consultations. P/7/44. 5th
July 1811. No 15 to 17
Accounts
of the profits and losses for the Calcutta mint for 1809/10. Doesn’t discuss
the actual number of coins produced.
Bengal Public Consultations. P/7/45. 30th
August 1811. No 32
Letter from the Advocate General to Calcutta
Government, dated
The
notorious insolvency of Mr Henry Pits Forster, the late Mint Master, and his
being now in gaol under execution for a debt of upwards of seventy eight
thousand rupees induce me to submit to His Excellency the Vice-President in
Council whether it is worth proceeding against him in the Supreme Court for the
interest of the money which he apprpriated to his own use and the loss
sustained by his permitting Jubboo and Tillockram Ghose, two of the mint
refiners, to take bullion out of the mint for the purpose of refining it
without obtaining from them adequate security…
In
reply:
…His
Excellency in Council concurs with you in opinion that it would not be
expedient to proceed against him for the recovery of those sums for which the
Honourable Company have a claim upon him…
Bengal Public Consultations. P/7/45. 13th
September 1811. No 16, 17
Mr
Forster asks to be supplied with copy of the papers to be sent to the Court of
Directors.
Denied.
Bengal Public Consultations. P/7/46. 18th
October 1811. No 37 to 44
Many
letters concerning pay rises for mint employees. Also a request to appoint a
dewan to oversee the activities of the mint. The pay rises were granted, but
not the appointment of a dewan.
Extract
from Mr DaCosta’s petition for a pay rise, dated
…In
the year 1793 Mr Spalding the foreman of the Calcutta mint was appointed
foreman of the assay office on a monthly salary of 150 sicca rupees. On Mr
Spalding’s leaving the country in 1801, he was succeeded in both situations by
Mr Hughes, on whose demise in 1804, the sanction of Government was obtained for
the employment of Mr Cuthbert (who had served many years in the Dacca mint) to
the situation of foreman in the assay office.
In
December 1806, I was appointed foreman of the Calcutta mint, whilst on my
deoutation to the Presideny of Fort St George.
In
December 1809, Mr Cuthbert died and I did myself the honour of prefering my
claim to that situation, as it has in every instance but that of Mr Jacobi been
held by the foreman of the Calcutta mint, and to this day, whenever any
machinery or implements or repairs to machinery have been required, I have
invariably attended to these calls, and have supplied the wants of that office.
Under
these circumstances I humbly trust it will appear to the gentlemen of the Mint
Committee that I am desrving of the additional allowance of 150 rupees…
Bengal Public Consultations. 22nd
November 1811. No 68 to 71
Series
of letters about the completion of the new assay office and its costs
Bengal Public Consultations. 29th
November 1811. No 42
The
mint committee asks for copies of the papers about the reform of the coinage of
Madras dated 26th March 1800, and from Bombay 31st
January and 9th December 1801. Also regulation for the coinage of
Bombay, 1799
Bengal Public Consultations. P/7/53. 13th
March 1812. No 7
Letter
from Bombay stating that all the papers that were requested had been sent in
1802
Bengal Public Consultations. P/8/4. 1st
May 1812. No 25, 26
Detailed
accounts for 1809 to 1811. Contains a statement of numbers of coins issued
|
|
1808/9 |
1809/10 |
1810/11 |
|
Gold,
sicca weight |
71,559 |
35,632 |
287,016 |
|
Silver,
ditto |
11,065,459 |
8,430,642 |
21,545,082 |
|
Copper,
number of pice |
23,976,218 |
17,246,049 |
22,395,298 |
Bengal Public Consultations. P/8/4. 8th
May 1812. No 34
The
Assay Master, Mr Wilson, asked for an increase to the establishment of the
assay office because of the increased importaion of bullion over the previous
three years.
Bengal Public Consultations. IOR P/8/5.
17th July 1812. No 57 to 62
Petitions
from Mint employees asking for pensions etc.
Bengal Public Consultations. IOR P/8/5.
17th July 1812. No 91
James
Atkinson appointed to be assistant to the Assay Master, and assistant to the
Mint Master whenever he may be required.
Bengal Public Consultations. IOR P/8/5.
24th July 1812. No 29
40,000
rupees worth of Calcutta pice ordered to be sent to the Collector of Bihar for
use in that district
Bengal Public Consultations. IOR P/8/5.
14th August 1812. No 32
Letter from George Davidson (Mint Master) dated
Stating
that the Rs 40,000 worth of pice for Bihar were almost ready and asking for a
military escort for the 160 boxes containing them.
Bengal Public Consultations. P/8/19. 23rd
July 1813. No 21, 22, 23
Letter from the Mint Committee to Government, dated
We
have the honor to submit for your consideration and orders of Your Lordship in
Council the accompanying copy of a letter and its enclosure from the Mint Master
forwarding and recommending an application from the foreman of the mint, Mr
DaCosta, to be remunerated for the extra duty of superintending the execution
of two complete sets of machinery for the mints of Farruckabad and Benares.
The
machinery intended for the Farruckabad mint was completed in February 1810,
that for the mint at Benares in January last, and we have great satisfaction in
being able to report that both sets were finished in a manner highly creditable
to Mr DaCosta.
It
having been usual to consider work of this kind as extra duty and to remunerate
the foreman of the mint accordingly, and the sum of 6000 rupees having been
granted to Mr Da Costa’s precessor on completing an extensive set of machinery
for Madras in the year 1806, we beg leave to recommend that Mr DaCosta may be
allowed the sum of 4000 rupees as a compensation for the extra duty of
superintending the construction of the machinery for the mints at Farruckabad
and Benares.
Bengal Public Consultations. P/8/20. 27th
August 1813. No 37, 38, 39
Letters
asking for an increase in pay for some of the more junior people in the mint.
Granted.
Bengal Public Consultations. P/8/21. 10th
September 1813. No 20, 21
All
about gold in the hills. May be of interest to Nick
Bengal Public Consultations. P/8/21. 17th
September 1813. No 24
Request
to send eighty thousand rupees worth of pice to Behar
Bengal Public Consultations. P/8/23. 19th
November 1813. No 37
Letter from the Mint Master to Government, dated
The
80,000 rupees worth of pice are ready for dispatch to
Bengal Public Consultations. P/8/23. 26th
November 1813. No 49
Lett
He
Bengal Public Consultations. P/8/25. 10th
December 1813. No 68, 69, 70
Request
for a pay increase for one of the apprentices.
Granted
Bengal Public Consultations. P/8/25. 10th
December 1813. No 71
Mr
Davidson asks for some fianancial reward for his past services
Bengal Mint Committee Proceedings. IOR
P/162/69. p20
Letter from the Acting Mint Master (McLeod) to Mint
Committee, dated
He
had difficulty finding people to refine Spanish dollars and had published a
notice in the bazar asking for tenders. He has about 216,000 dollars that
require refining.
There
is then a letters tendering for the work, and this is accepted
Bengal Mint Committee Proceedings. IOR
P/162/69. p39
Letter from the Calcutta Government to Mint
Committee, dated
Includes
the fact that the MM, Dr Davidson left the post of MM on 12th
December 1813 and Mr Mcleod took over
Bengal Mint Committee Proceedings. IOR
P/162/69. p44
Letter from the Board of Commissioners at Farrukhabad
to Calcutta Government, dated
Covering
letter to enclosures discussing the fact that mints have been established to
produce debased rupees from Farrukhabad rupees. Lists the mints and owners and
the reason why the authorities are suspicious.
Bengal Mint Committee Proceedings. IOR
P/162/69. p122
Letter from the MM to Mint Committee, dated
Encloses
estimate for repairing the mint and assay offices. The Mint office had not been
repaired since 1810 and the assay office since it was built in 1811.
Bengal Mint Committee Proceedings. IOR
P/162/69. p248
Letter from Calcutta Government to Mint Committee,
dated
Mr
Saunders appointed MM
Bengal Mint Committee Proceedings. IOR
P/162/69. p265
Dated
Fire
engine necessary whilst gold being refined
Bengal
Mint Committee Proceedings.
IOR P/162/70, No 5.
Letter
dated
Mr
Cabell reports his return to Calcutta as Assistant Assay Master
Bengal
Mint Committee Proceedings.
IOR P/162/70, No 11.
Letter
dated
The
Assay Master (Wilson) reports the death of Mr Cabell
Bengal
Mint Committee Proceedings.
IOR P/162/70, No 46.
Letter
from Mint Committee? To Government, dated
We
have the honor to acknowledge the letter of the Secretary to Government in the
financial department of the 10th ultimo, directing us to submit the draft
of a regulation for the purpose of giving the circulation of copper pice
throughout the Lower Provinces including Orissa, the sanction of a law, and we
accordingly forward the draft of the regulation required.
As
the weight and rate of pice struck at the mint of Calcutta have never been
adjusted by a positive regulation, we have considered it advisable to introduce
these points into the present enactment, adhering to the rate at which the pice
have hitherto circulated and deviating from the actual weight of the pice now
struck in the Calcutta mint only so far as to avoid a fractional difference
rather nominal then real, and with the view of establishing a uniformity in the
pice coined at Calcutta, Farruckabad and Benares, both which last have been fixed
by law at 100 troy grains.
As
the value of the pice coined at the three mints will thus be the same, we have
further thought that it might be useful to give the three sorts a common
currency throughout the provinces subject to this Presidency, as by this means
all difficulties in the intercourse which may bring the pice of one mint in
contact with those of another will be avoided and no inconvenience can result
from such an arrangement to individuals or the public.
Regulation
XXV 1817
A
regulation for fixing the weight of the pice struck at the Calcutta mint and
for giving general circulation to pice struck at any of the mints subordinate
to this Presidency.
1.
Whereas it has been deemed expedient to adopt some precise rules for the
coinage and currency of the copper pice struck in the mint of Calcutta as also
for extending the circulation of those pice as well of the pice struck at the
mints of of Benares and Farruckabad, the following rules are therefore enacted
to be inforce from the date of their promulgation throughout the provinces
immediately dependent on the Presidency of Fort William.
II.
The copper pice struck at the Calcutta mint shall be of pure copper and of the
weight of 100 grains troy.
III.
The inscripition shall be on one side – One Pie Sicca in the Bengalee, Persian
and Nagari charcters, and the date on the obverse.
IV.
The shall be issued from the mint and public treasuries at the rate of 64 to
one sicca rupee, at which rate they will be received again by the public
officers in payment of the fractional parts of a rupee and they shall also be
legal tender in payments of the same nature at the rate of 64 to the rupee of
the local currency throughout the provinces subject to the Presidency of Fort
William.
V.
The pice struck at the mints of Benares and Farruckabad agreeably to the
provisions of Regn 10 1809, Regn 7 1814 and Regn 21 1816, shall also be
considered as circulating equally with the pice of Calcutta coinage throughout
the above mentioned provinces and shall in like manner be received as a legal
tender in payment of the fractional parts of a rupee of the local currency at
the rate of 64 pice for each rupee.
Bengal Mint Committee Proceedings. IOR
P/162/70. No 48
Regulation, dated
Regulation
XXVI, 1817, Authorizing the Circulation of Farruckababd Rupees coined in either
of the Mints of Calcutta Farruckabad or Benares or at any other mint,
Established by Orders of the Governor General in Council
Whereas
it may from time to time be found expedient to coin rupees of the weight and
standard of the Farruckabad rupee at the mints of Calcutta or Benares, it has
been deemed advisable to rescind so much of section2 of regulation 45 of 1803,
as tends to limit the coinage of Farruckabad rupees to the mint of Farruckabad,
and to direct that the following enactment be henceforward in force:
The
silver coin denominated the Farruckabad rupee and of the weight and standard
prescribed by section 2 of Regn 3 1806, struck at the mints of Calcutta,
Farruckabad or Benares or at any other mint established by order of the
Governor General in Council is hereby declared to be the established and legal
silver coin in the ceded and conquered provinces.
Bengal Mint Committee Proceedings. IOR
P/162/70. No 57
Letter from the Mint Master (Saunders) to Calcutta
Mint Committee, dated
…As
it was an object of great importance that this coinage [2,500,000 Farrukhabad
Rupees] should be conducted with all practicable dispatch, the mint was kept at
work day and night until it was completed, and I have great pleasure in
bringing to your favourable notice the unabated exertions of Mr Da Costa,
foreman of the mint, Mr Urquhart, 1st assistant, and indeed all of
the junior assistants and fixed native establishment. The former cheerfully
devoted their time, day and night when required, to superintending the
different departments and the occasional repairs of the machinery which got out
of order from constant work. By such assistance I was principally enabled to
strike off Rupees 140,000 (40,000 rupees per day more than had ever before been
coined at this mint). I mention this in the full hope that their exertions will
be readily and thankfully acknowledged.
The
difficulty I experienced in procuring coolies to work the laminating mills was
so great as to have nearly defeated the hope I expressed to Government of
completing this coinage within the short space of time named by me. This arose
partly from the illness that was then prevalent amongst the natives, but
principally from the great demand for lascar coolies consequent to the erection
of many new cotton screws in the neighbourhood of Calcutta, which renders it
very difficult to procure extra workmen when required, even at the enhanced
wages now demanded by them (at least one rupee a man per month more than they
used to get). This appears to make to very advisable if possible to dispense
with their services altogehter in the mint, which I have little doubt might
easily be effected by substituting a steam engine for turning the laminating
mills. I am given to understand that a considerable saving would be thus
effected, and many other obvious advantages would attend the adoption of this
plan should it be found feasible. I beg that the question may be brought to the
notice of Government and that I may be authorized to prosecute my enquiries on
the subject, the result of which I would hereafter more fully report to you
Bengal Mint Committee Proceedings. IOR
P/162/70. No 68
Letter from Government to the Mint Committee, dated
23rd Januray 1818
…The
Vice President in Council entirely approves the attention paid by the Mint
Master to the improvement of the machinery of the mint, and if it shall appear
from the result of the further enquiries which that officer prepared to
institute, that the steam engine may with advantage be there employed,
Government will expect to receive a further communication from your Committee
on the subject.
Bengal Mint Committee Proceedings. IOR
P/162/70. No 82
Letter from the Mint Master to the Mint Committee,
dated
Saunders describes the weaknesses of the Calcutta
mint (which are also described in another letter later). He states that he does
not have access to a written account of the processes used in European mints.
Bengal Mint Committee Proceedings. IOR
P/162/70. No 85
Letter from the Mint Committee to Calcutta
Government, dated
Very long letter about the Bengal coinage. This was
in reply to a very detailed look at the coinage by the Court of Directors in a
letter of
Bengal Mint Committee Proceedings. IOR
P/162/70. No 116
Letter from the Mint Committee to Bengal Government,
dated
In continuation of
our letter of the 28th July last and in reply to the orders of
Government directing the adoption of some distinctive mark on the currency, we
have the honor to submit the accompanying copy of a letter received from the
Mint Master under date the 27th instant and to forward for
inspection the specimens of the coins referred to in his letter.
The specimen No. 2
is in our opinion extremely well calculated to answer the purposes proposed by
the Government & to afford by the distinctions of a raised rim and
perpendicular milling a difference of appearance from the present coinage not
to be mistaken. It also surpasses the present coinage & the coinage No. 1
in the beauty of its execution and is altogether we conceive the most desirable
form for the new sicca rupee.
Under the
circumstance of this preference, it appears that the difficulties which it is
stated by the Mint Master attend the fabrication of the dies of the rupee with
a raised rim in the Calcutta Mint will be overcome, & in that case we are
disposed to consider them as recommendatory of
the adoption of this form. The more difficult it is to execute any currency
the less is the danger of its fraudulent imitation and with every advantage of
workmen and machinery which this country affords the Calcutta mint [still]
finds a difficulty in preparing the dies for the proposed currency, it is to be
hoped that the task will be almost impracticable by inferior and
unauthenticated means.
The rapid wear of
the border of the coin as apprehended by the Mint Master might form an
objection of greater magnitude but we are inclined to think that upon the whole
any loss arising from this cause will be counterbalanced by the protection it
affords to the face of the coins and that a diminution of the weight of the
coin will be rather retarded than accelerated by it, and it has also been
preferred in the new currency of Great Britain. We conceive it may be
introduced here with safety and advantage.
Bengal Mint Committee Proceedings. IOR
P/162/70. No.117
Letter from Saunders to the Calcutta Mint Committee
dated
I have the honor to transmit to you herewith for the
purpose of being laid before his Excellency the Most Noble the Governor General
in Council, one box containing specimens of coins struck at this mint of the
weight and standard of the proposed new coinage, namely gold fineness 189.462,
alloy 17.204 – [206.666 alloy 16.077] - 192 grains weight.
I likewise submit for comparison with them, gold and
silver pieces of the present currency and some new English coins for your
inspection.
As the difference in the size and weight of the new
coins might not be considered sufficient to enable all persons at once to
distinguish them from the old ones I have thought it expedient to affix such
further distinctive marks as may be obvious to the most ordinary person.
Parcel No. 1 contains specimens differing only from
the old coins in the appearance of the milling, which is upright like the new
English coins, instead of sloping.
The specimens in parcel No. 2 bear the further
distinctive mark of having a raised rim in imitation also of the new English
coins. This latter operation I have found is difficult to perform with proper
accuracy and expedition without sacrificing the advantage of giving the
impression from the master dies.
I am further induced to apprehend that the raised rim
which is intended to protect the impression from [ ] would soon be reduced even with the surface
of the coin by some artifical process common amongst the natives here for such
purposes. Its great prominency subjects it also to be soon worn away without
application of artificial means, as may be seen from one of the accompanying
new English coins, which can only have been about 12 months in circulation.
Should a decided prefence be given to the raised rim
coin, I beg assure your committee that every effort shall be made to overcome
the difficulties which appear to oppose its execution and I am far from
considering them insuperable altho’ from the want of the proper machinery they
will be great.
Bengal Mint Committee Proceedings. IOR
P/162/70. No.141
Letter from the Calcutta Mint Committee to Government
dated
Encloses the proposed regulations for the new coinage
of gold and silver:
Reg – 18—
Regulation for
altering the standard of the Calcutta sicca rupee and gold mohur and for
further modifying some of the rules in force respecting those coins passed.
I. The high standards established for the gold mohur
and sicca rupee having been found productive of many inconveniences both to
individuals and the public in as much as they are ill callculated to resist the
wear and defacement to which coins are necessarily exposed and as they are only
to be obtained by having recourse to the expensive process of refining
diminishing consequently the productiveness of most of the sorts of bullion
imported into the Company’s territories and it being desirable also that as
much uniformity as can be instituted between the currencies circulating at the
different Presidencies should be preserved and consequently at an approximation
of the standard of the Calcutta coins to the standard of those current at Madras
and Bombay should be effected, it has been resolved to rescind the provision of
former regulations relative to the standard of the gold mohur and nineteenth
sun sicca rupee and to coin in future of the preparations hereafter to be
specified.
As a reduction in the value of the sicca rupee from
its being in great measure the money of account both in private and public
transactions would necessarily change the terms of all existing contracts and
might be productive of embarrassment and trouble, it has been determined to
leave the rupee unaltered in this respect. The new Calcutta sicca rupee will
consequently contain the same quantity of fine silver as that heretofore struck
and, representing the same value, will of course circulate on the same terms.
The mint proportions of silver and gold being it is
believed inaccurately estimated at present, and it being also desirable that an
uniformity in this respect should be introduced at the three Presidencies of
Calcutta, Madras and Bombay, it has been thought advisable to make a slight
deduction in the value of the gold mohur in this Presidency in order to raise
the relative value of fine gold to fine silver from the present rates of 1 to
14.861 to that of 1 to 15. The gold mohur will still continue to pass current at
the present rate of sixteen rupees.
For the purposes and objects above enumerated, the
following provisions are hereby rescinded and declared to be in force from
II Cl I. So much of section 2 Regn 35, 1793, as fixes
the weight and standard of the nineteenth sun sicca rupee and gold mohur is
hereby rescinded.
Cl II. The weight and standard of the Calcutta sicca
rupee and gold mohur shall be as follows:
|
|
Weight (Grs) |
Fine Gold (Grs) |
Alloy (Grs) |
|
Gold Mohur |
204.710 |
187.651 |
17.059 |
|
Half ditto |
102.355 |
93.825 |
8.529 |
|
Quarter ditto |
51.177 |
46.912 |
4.264 |
|
|
Weight (Grs) |
Fine Silver (Grs) |
Alloy (Grs) |
|
Sicca Rupee |
191.916 |
175.923 |
15.993 |
|
Half ditto |
95.958 |
87.961 |
7.997 |
|
Quarter ditto |
47.979 |
43.981 |
3.998 |
III. All Calcutta sicca
rupees and gold mohurs of the weight and standard specified in section II which
may be coined in the Calcutta mint, after the 1st January 1819 &
also their halves and quarters, are to be considered as legal tender of payment
in all public and private transactions throughout the provinces of Bengal,
Behar and Orissa in like manner as the nineteenth sun sica rupees and gold
mohurs and the fractional parts of them, now in circulation, and any native
officer of Government refusing to receive them shall be subject to the penaly
prescribed in section III Regn 35, 1793.
The following provisions
shall be substituted for those of section 2, Regn 2 of 1812, which are hereby
rescided:
All silver bullion or coin
not being rupees struck at the Calcutta mint which may be delivered into that
mint for coinage shall be subject to a duty at the rate of two per cent on the
produce of such bullion or coin in sicca rupees of the above weight and
standard, and the amount of the said duty shall be accordingly deducted from
the return to be made to the proprietor.
Individuals who may be
desirous of it may be at liberty to have their bullion or coin converted into
halves or quarters of the above rupee, on condition of paying a duty at the
rate of one per cent established by the preceeding clause.
Should the coin however
brought to the mint for that purpose, consist of Calcutta siccas of the former
or present weight or standard, the proprietors shall only be subject to the
additional duty of one per cent and not to the duty on all other coin and
bullion.
On delivery of the silver
bullion or coin into the mint, the Mint Master shall grant to the proprietor a
receipt entitling him to a certificate from the Assay Master for the net
produce of such bullion or coin agreeably to the table subjoined to this
regulation and marked No 1, payable at the General Treasury at Calcutta the
expiration of ten days if the produce be deliverable in whole and the
expiration of twenty days if the produce be deliverable in halves or quarters
of a rupee from the date of such certificate. In the latter case the additional
duty established by clause second section IV of this regulation is, of course,
to be deducted from the net produce.
START HERE
Bengal
Mint Committee Proceedings.
IOR P/162/71, No 25.
Letter from
The Mint master (Saunders) and Assay Master (Wilson) to the Mint Committee,
dated
We have the honor to
acknowledge the receipt of your Secretary’s letter dated the 15th
May last, forwarding copy of a letter and its enclosures from the Secretary to
the Government in the financial department, and requesting us to furnish your
Committee with the fullest information in our power on the several subjects
referred to in that letter, Vizt the necessity of constructing a new mint, a
specific plan of the buildings, a distinct detail of the machinery to be
introduced and the mode in which it may be desirable that it should be
procured, together with a report in a general revision of the establishment.
Prior to the date
of the correspondence which led to the the impression entertained by Government
in regard to the necessity of constructing a new mint, a reference was made by
the Mint Master to the Superintendent of Public Buildings requesting him to
report on the actual state of the mint premises, and the practicability of
making such alterations and additions to them as might admit of the operations
of the mint being rendered more proportionable to the public demand for
coinage. The accompanying copy of that officers reply will show your Committee
that the proposed improvements and additions could not under any circumstances
be made to the present mint buildings, and that their general state is such as
to preclude the hope of their being long serviceable for carrying on even a
limited coinage without undergoing more thorough and expensive repairs, a
measure which we conceive would involve the greatest public inconveniences from
the consequent stoppage of the coinage, at a time, too, when every effort is
required to increase it.
The foregoing
consideration, added to much practical inconvenience experienced by the
officers of the mint at all times of urgent pressure from the want of space, as
well as systematic arrangements in the departments requiring active
supervision, leaves no doubt to us of the expediency of constructing an
entirely new mint, suitable for all purposes of coinage, on an extended scale,
and which combine all the advantages which modern scientific improvements in
the construction and application of machinery, as well as in the art of fusing
the precious metals, have avowedly secured to the Royal Mint in England. Amonst
which may be enumerated security, dispatch, economy and perfection in the
fabrication of the coins.
That the above
desiderata are in no high degree attainable under our present system of coinage
will clearly appear from the following short account of the several departments
of this mint. Nor is this any reflection on the officers who have successively
been placed in charge of it, since many of the same imperfections existed at
the Royal Mint at so late a period as 1810, and were particularly noticed in
the Earl of Liverpool’s treatise on the coins of the realm.
Milling Department
The furnaces in
use here are open blast furnaces, which emit such heat and noxious vapours from
the charcoal, as to make it impossible for any persons but the melters
themselves to approach them whilst the crucibles are in the fire, which affords
an opportunity of fraudulently introducing into the pots small portions of
copper alloy and keeping back an equal weight of silver, which the melters find
means of conveying out of the mint in spite of the strictest search.
The crucibles are
made of wrought iron and contain 1000 sicca weight only of bar or cake bullion,
or 600 sicca weight of seizel, hence arises greater wastage than if a larger
mass were melted together, and now that bullion of such different standards is
brought to the mint, great difficulty is experienced in combining and blanding
the various better and inferior qualities in order to reduce the metal to the
proper standard, to effect which it is necessary to cut the ingots, or even
coins, into many small pieces previous to potting them. This operation
occasions additional labor, waste and expense. It is impossible moreover under
the present system for the Assay Master to assay separately samples taken from
each crucible as there are frequently 300 crucibles melted in one day.
The practice now
observed is to cut small pieces from the end of each ingot cast, and to melt
them into a mass for assay. Thus if alloy has been fraudulently put into a
small proportion of the crucibles from which the samples are cut, the
refinement of the other samples, when all mixed together for assay, will
probably render the discovery difficult, though could a sample from each
crucible be separately assayed, those to which alloy had been surreptitiously
added, would easily be discovered. Instances have occurred of the day’s
meltings being reported fully standard, and of the seizel and coins of those
identical meltings proving below the standard. So long as this be of rare
occurance, it is not otherwise important to notice it than as offering a proof
of the difficulty of exercising effectual control over the present melting
department.
There is another
inconvenience which we think might be remedied in a great measure by melting a
large mass of bullion together. It is that arising from the flaws or holes
which are frequently only discovered in the ingots after they have been several
times passed thro’ the laminating rollers. This increases the quantity of
seizel from its being necessary to cut out such flaws, and causes a greater
number of the blanks to require plugging. Various experiments have been tried
to obviate this serious inconvenience, which not only diminishes the quantity
of coin produced, but entails great loss from remelting.
It is impossible
not to observe how defective and insecure is this mode of conducting the
meltings, but it will be more apparent on comparision with the improved system
which we shall presently have occasion to notice.
Laminating
Department
This consists of
six mills or sets of rollers kept in motion by manual labor. Each mill requires
about 40 men to work it now that the ingots are so much harder then they were
under the old standard. Four reliefs would be necessary to ensure planchets
sufficient to give a regular coinage of 100,000 pieces per day, but this number
of coolies is not to be procured with any certainty, even at the enhanced rate
of wages of 5 rupees per month to each man. The unstaedy application too of
their labor occasions the blanks when cut from from the planchet to vary much
in weight so that nearly the whole of them requireto be rasped or plugged as
they may be too heavy or too light.
Adjusting
Department
The cause above
mentioned makes the work of this department very heavy, and when the pieces are
too coarsely filed down at the edges, a great number of them are necessarily
put aside to be remelted.
Stamping
Department
The machine used
for stamping the blanks consists of a screw to which the upper die is attached,
and is worked by a fly which forces it against the lower die. The impression being
more or less perfect depends on the steadiness of the force with which the blow
is given, and should it no succeed in striking out all the file marks left by
the adjusters, the appearance of the coin becomes defective to the eye and many
of them are condemned after the whole labor and expense of the intermediate
processes have been uselessly incurred.
Enough has been
said of our present mode of coinage to satisfy your committee that there are
many radical defects in the melting as well as operative departments of this
mint, the latter of which can only be removed by the introduction of that
improved machinery, which has of late years been invented, and from which every
branch of British manufature has profited in so great a degree. To persist then
in a system of acknowledged error when the means of improvement are attainable,
would be inconsistent with every principle of sound policy and would betray a
culpable indifference to the real interests of Government, in a very important
part of the service.
We think we cannot
better give effect to the order contained in Mr Secretary Mackenzie’s letter
requiring a detail of the particular sort of machinery proposed to be
introduced here, than by submitting a printed account of that now in use at the
London mint together with the desriptive drawings of it, as well as of the
newly invented furnaces, and apparatus used for fusing and pouring the metals
there. It is fortunate that such an account should have reached us at this
time, as it clearly shews that most of the inconveniences incidenatal to our
rude and imperfect system of proceeding, may be remedied. We propose to call
your attention to the several departments described, commencing with
The Melting
Furnaces
Page 22 of the
printed account
We were so
forcibly struck with the superiority and simplicity of these furnaces, over
those in use here, that we caused one to be constructed of common fire brick,
with a view of ascertaining whether the fuel most readily procured here would
answer for fusing a large body of metal. Complete success attended the
experiment as far as regarded that object. We failed however in our attempt to
immitate the machinery for pouring the metal and guiding the ingot moulds etc
etc, so that we could not form a correct idea of the lowest form of wastage at
wich the melting might be conducted. As a large body of metal can however be
fused with less wastage than the same quantity divided into ten or twelve pots,
such as we have now in use here, we have reason to believe that a saving equal
to one third of what now arises from wastage on that process, might be
effected, if we were in possession of the requisite machinery and crucibles.
The easy
supervision of these furnaces is also an important thing, but a paramount
advantage would be that the Assay Master might then take samples for separate
assays from each pot melted, and so effectually check the fraudulent attempt to
alloy any one pot.
We are strongly
disposed to recommend that the furnaces of the new mint should be constructed
after this improved plan, and that the requisite sets of machinery for working
them should be procured from England.
Laminating
Machinery
Described page 26
of the printed account
Amongst the
numerous uses to which the power of the steam engine has been directed, there is
none perhaps of more importance than its application to the coinage in all its
branches, which requires that motion shall be steady, and that force should be
uniformly and properly proportioned. We recommend therefore that complete
laminating machinery, such as is described to be in use at the Royal Mint, with
a steam engine of sufficient force to work it, be procured from England, by
which we should get rid of the serious expence attending our present very
precarious mode of working the rollers by hired coolies. We also recommend that
Mr Barton’s newly invented drawing machine should be procured. The equality in
thickness which this is described as giving to the slips, or planchets, is
quite unattainable by common rollers, even when working by a steam engine. This
machine would render the blanks when cut so near to their standard weight as to
supercede the employment of probably two thirds of our present establishment of
of adjusters, and it would also lessen the wastage from this unmechanical
operation.
Cutting and
Milling Machines
Described in page
32 and 33 of the printed account
The cutting out
and milling machines form connected parts of the general improvements adopted
at the Royal Mint, and therefore it would be desirable to introduce them also,
otherwise we experience less inconvenience in these than in any other
departments of our mint.
Stamping Machines
Described in page
34 of the printed account
We conceive that
at any rate it would be highly advisable to have the coining presses worked by
a separate steam engine, as the present mode of raising the impression by the
force of a man’s arm, leaves it quite uncertain whether it be properly raised
or not, and consequently whether the coin be fit and creditable to circulate.
When this is not the case, the wastage and expense, as before noticed from the
intermediate processes of melting, laminating, adjusting and milling, will have
been uselessly incurred, and disappointment ensue in the amount of coin
remittable to the General Treasury. We think however that this process might be
conducted on a more simple principle than that described in the printed
account.
The beauty of our
Indian coins has been often and justly extolled, but it should be recollected
that they were formerly composed of purer and softer metal, which could with
comparitive ease, receive any impression from the dies. It is from experience
that we can now speak to the defects of the present system when applied to the
new coinage, and it is only from what we conceive and read of the new system of
coinage, that we recommend its general introduction at the mint, the expediency
of which our observations are intended to illustrate.
As immediately
connected with this subject and pursunt to Mr secretary McKenzie’s directions,
we proceed to offer our opinion as to the manner in which it may be most
desirable that the whole, or any part of the new machinery should be procured.
There appear to us
but two modes of effecting this:
Either by a
special indent being transmitted to the Hoble Court of Directors for machinery
constructed after that used in the Royal Mint, with such alterations as
experience there may have suggested, or by some person well acquainted with the
defects arising from our rude and imperfect system of coinage, being deputed to
superintend its preparation, and to whom some discretionary latitude might be
given in his selection of the most simple and best adapted sort of machinery
for this country. Much superfluous expence might thus be saved, and greater
certainty attained of the speedy and full accomplishment of the object
proposed.
The first mode
would probably lead to considerable delay, or disappointment, or both, in the
end, by a further reference to Government being deemed necessary, or by the
imperfect execution of a commission, with the precise nature of which the
Honorable Court might not be well acquainted.
Our observations
regarding the introduction of new machinery have been pricipally confined to
the facility and superior excellence it would give to the fabrication of the
coins. Hence the possibility of counterfeiting them would be lessened, and no
pains or penaltied hitherto devised have been found powerful enough to overcome
this temptation, as daily experience will have shown. The most skillfull
workmanship can alone prevent this evil by taking away the temptation, and the
very power of offending.
We regret we have
no accurate data on which to estimate the first possible expence of the
machinery, but we can with more certainty enumerate sundry permanent savings,
exclusion of all other advantages, which it would occasion. We estimate them as
follows, on a coinage at the rate only of one lac pieces for all the working
days at the mint in one year:
Saved 1/3rd
wastage or 2as per cent on sicca weight 38,400,000 of bullion required to be
melted to produce
Sicca rupees
26,700,000 48,000
Hire of lever men
estimated at 40 men
To each of six
mills relieved 4 times
In 24 hours at 5
rupees per man 57,600
Adjusters lass one
half 8,400
Stampers etc etc 4,000
Total Rs
118,000
Proper machinery
once procured would afford the power of extending the operations of the mint to
a coinage of upwards of 300,000 pieces, with the trifling additional expense
for fuel etc per day, and would render the Calcutta mint equal to the demands
of the whole of the provinces under the Presidency of Bengal. In that case it
might eventually be found unnecessary to retain the provincial mints, and their
discontinuance would be attended by a further saving of more than a lac of
rupees per annum, making in the aggregate, such an arrangement taking effect,
an estimated saving of 218,000 rupees per annum. We notice this to do away any
objection arising from the first expence of the machinery, which could bear no
proportion to the permanent advantages to be derived from it, and if these be
not overrated, we conceive the same arrangement might be beneficially extended
to the Presidencies of Madras and Bombay.
A new mint was
constructed at the former place a few years ago, which doubtless may be easily
adapted for the reception of improved machinery. That now in use there was
prepared at this mint and must be equally imperfect with our own.
At Bombay we
understand, it is proposed to erect a new mint, the present building and
machinery being found totally inadequate for all purposes required of them.
The working
wastage of precious metals and the expense of the establishmnets of the above
mentioned mints are not less, we imagine, than they are here, and they might be
proportionably reduced by the introduction of the imported syatm of coinage,
the result of which, in the aggregate, would probably be a saving to Government
in the mint departments under the three Presidencies, of 4 lacs per annum, and
would be attended with the further advantage of their being all placed in a
more efficient state then has hitherto been the case. We have been led to these
observations from conviction that the subject is in every way worthy of the
serious consideration of Government.
We have herewith
the honor to submit an elevation and plan for the proposed new mint, made out
by the assistant Assay Master, with due attention to that systematic
arrangement which it is highly necessary to observe in constructing a building
of such magnitude, and for such a purpose. Care has been taken to allow space
for the building required for the steam engines and boilers. Our object has
been to form a plan which would answer equally well for the new or the old
system of coinage. The building might be therefore speedily commenced upon, and
far advanced before the machinery could arrive from England. No time would thus
be lost in carrying the whole arrangement into effect.
We requested the
Superintendant of Public building to furnish the accompanying estimate of the
probable expense that would attend the erection of this building and likewise
to state for the information of your committee what he considered might be a
fair valuation to affix to the present mint, as in case of its removal and the
premises being sold or transferred to any other department for public purposes,
the real or estimated amount of their value should be considered as a set off
against the outlay for the new mint.
There are [many]
obvious reasons why it would be preferable that the mint should be erected near
the river, tho’this is not indispensibly necessary. Its being placed however at
any considerable distance from the General Treasury, and the vicinity of the
merchantile houses in Calcutta, would be very objectionable, but we are not aware
that the decision of this question need delay bthe consideration of the other
arrangements we have the honor to propose.
The remaining part
of Mr Secretary McKenzie’s letter to be noticed, is that which relates to the
general revision of the mint establishment. No distinct proposition on this
subject can be submitted by us until we ascertain the sentiments of Government
in regard to our present suggestions, though we may mention as the basis of any
arrangement to be hereafter made, that we conceive it indispensible that
instead of the undefined duties discharged by the different assistants in the
mint, distinct departments should be placed under their superintance severally
and exclusively, to effect which their numbers must be increased.
It may be well to
observe that the 21st page of the printed account, relates to the
constitution of the Royal Mint, detils the number of officers there employed,
and the distinct duties to be performed by them, and also shows the forms
observed in conducting the business of that institution. Many useful hints may
hereafter be taken from this account.
We have now
furnished all the information it is in our power to give on the several
questions contained in Mr Secretary McKenzie’s letter, and we trust that
importance of them will excuse the length with which we have entered into the
details.
Bengal
Mint Committee Proceedings.
IOR P/162/71, No 26.
From
Calcutta Mint Committee to Government dated 16th August 1819.
In continuation to
our reply to the instructions conveyed to us in the letter to the secretary to
Government in the financial department of the 22nd April last we
have now the honor to forward a report from the officers of the Calcutta mint,
on the necessity and advantages of introducing new and improved machinery into
the operations of that establishment.
The extension of
the powers of the Calcutta mint has already shown to be a matter of the most
urgent necessity, by the correspondence between the Mint Master and the
Accountant General, forwarded to us by Mr Secretary McKenzie’s letter above
mentioned, and the utter impssibility of coining the amount of bullion brought
for coinage during the present year has been attended with much private and
public embarrassment and loss. There is therefore no doubt as to the general
expediency of the measure, especially as during seasons of tranquility the
perpetual recurrence of these evils may be expected.
The mint of
Calcutta is peculiarly situated. In most European kingdoms mints are employed
directly by the Government only, and their occupation, being confined to the
maintenance or removal of such a currency as the internal commerce of the state
requires, is limited and occasional again. Dealers in bullion mostly prefer
keeping that article uncoined, as legal obstacles are often opposed, as in
England, to the fusion or exportation of the coins of the realm, and large
quantities of the precious metals are to be found in the market, in foreign
coin, or ingots, which never find their way to the mint. There are few markets
also in the commerce between civilised states, amongst whom uniformity of
manners and parity of culture had generally established a regular and extensive
inter-change of their respective productions or manufactures, in which, except
under extraordinary circumstances, bullion performs any very important part.
The very reverse of this state of things happens in Calcutta.
The coinage of the
Calcutta mint, like that of the mints of South America, is incessant. The
Government here has never allowed an interval of many years to elapse, without
supplying the community with a renewed currency, but having fixed a low rate of
allowance for wear, withdraws through the local treasuries the coin from
circulation, as fast as it passes those limits of loss and sends it to be recoined.
This alone would furnish a constant though not very heavy occupation to a mint
establishment, but it forms a very inconsiderable portion of the permanent
duties of the Calcutta mint.
The facilities
granted to individual proprietors of bullion, and the habits of the people,
attract to one or other of the Indian mints perhaps all the bullion that is
imported. There is no public depository like the Bank of England for a large
capital of unwrought bullion, whose abstraction from the circulation is
supplied by a proper currency, nor are the native merchants or capitalists
addicted to the hoarding unmanufactured metal. Coin, in India, very naturally
has the preference over bullion, from its greater portability, its more
convenient application to objects of expenditure, and its better recognised, if
not better ascertained, value, and there are no unnecessary obstructions to its
application to any purpose to which its proprietor chooses to apprpriate it,
which should force him to a preferable accumulation of the precious metals in
any other form. All the transactions of the bullion market in Calcutta,
therefore, are conducted with a view to its being remitted to the mint, and a
native banker no sooner purchases a quantity of silver or gold, than he sends
it to be converted into mohurs or rupees. The moderate duty levied at the mint
froming no counterprise to the advantages attending actual coinage.
Public regulations
and private feelings thus cooperating to keep the mint employed, it follows
that employment will be limited only by the amoiunt of the bullion tendered for
coinage. The Asiatic absorption of the precious metals was a subject of
complaint to the ancient, and the complaint has been repeated in modern times.
There is in fact little else that the European trader can cewrtain of a demand
for, in the East, and until the Asiatic modes of living and thinking have
undergone very important modifications, the profitable trade in Indian articles
must be chiefly maintained in the European part, by the importation of the
precious [metals].
With regard to the
extent of that importation it is impossible to form any positive conjecture,
although we may confidently anticipate its being considerable. We find from
official documents that during 15 years of war, the Calcutta mint coined,
chiefly on account of individuals, and from bullion brought by sea, an average sum of twelve millions of
rupees.
|
1802/3-1806/7 |
55,135,556 |
|
7/8 |
18,288,162 |
|
8/9 |
11,943,192 |
|
9/10 |
8,787,054 |
|
10/11 |
17,005,490 |
|
11/12 |
10,212,633 |
|
12/13 |
8,774,002 |
|
13/14 |
3,839,578 |
|
14/15 |
8,091,661 |
|
15/16 |
14,675,881* |
|
16/17 |
23,570,889* |
That for the last
six years, ending with 1818, the mints of Calcutta, Benares and Farrukhabad have
coined annually more than 23 millions.
|
1813/14 |
3,839,578 |
|
14/15 |
8,081,661 |
|
15/16 |
14,475,881* |
|
16/17 |
23,370,884* |
|
17/18 |
11,453,489 |
|
1818 |
16,880,416 |
*NB slight
differences from above
|
1813 |
3,358,216 |
|
1814 |
4,033,162 |
|
1815 |
6,221,817 |
|
1816 |
7,172,241 |
|
1817 |
7,320,959 |
|
1818 |
5,340,212 |
Farrukhabad
|
1813 |
6,807,150 |
|
1814 |
3,033,694 |
|
1815 |
2,694,464 |
|
1816 |
3,420,301 |
|
1817 |
7,818,455 |
|
1818 |
5,080,377 |
That the custom
house returns of bullion imported by sea, during the three last years average
37 millions and that in the seven first months of this year, from January to
July, the value of the bullion sent to the mint by individual proprietors alone
amounts to two crore and eighteen lacs, nearly twenty two millions of rupees.
The amount of these remittances during so long a period of which the greater
proportion was so unpropitious to foreign intercourse and the necessity for
such supplies during a condition of the market here which time alone can
materially alter, sanction the expectation that we shall continue to receive
large supplies of precious metals for some time to come, but the Calcutta is
not competent to this probable demand for coinage.
The inadequacy of
the presnet establishment has been proved by the statement of the Mint Master
and the extent of this incompetency may be further estimated by the returns of
the coinage this year compared with the amount of bullion received. The latter
on public and private account exceeds 22,800,000 or twenty two millions. The
latter amounts to but 12,600,000 or little more than half the first, compelling
the Government to grant notes payable at a distant period and therefore bearing
interest for the uncoined balance, and consequently entailing an extra expense
for the preservation of public good faith and private accomodation.
The heaviest part
of the mint expenditure we have on a former occasion observed is necessarily
that of a fixed establishment to which however the advantage is annexed of not
augmenting with increase of work. Now, although in placing the Calcutta mint on
an improved footing, some additions must be made to this important department,
yet the additions will bear no proportion to the increased receipts arising
from the mint duty on the largest possible coinage. To give the mint therefore
greater efficiency will not only be attended with great public benefit but it
will further prevent the incurring of any extra expence, and it will finally
prove a source of positive profit.
To qualify the Calcutta mint to meet a reasonably high demand, it is
unquestionably necessary to construct it on a new and systematic plan, to
provide it with additional and improved machinery, and to extend and reorganise
some branches of its establishment, objects we shall now procedd to consider.
The construction of the present mint as opportunity afforded and chance
directed is too notoriously defective to require any explanation. It is quite
sufficient to go through it to see that there can be no methodical arrangement
of successive issue and delivery through the different departments in the order
of their work, that the officesgenerally are deficient in space and
accomodation, and that their confined limits, their want of light and air,
their detached situation and exposed and inconvenient access, present
insurmountable obstacles to the very essential exercise of that personal
superintanance which the Mint Master and his assistants are expected to bestow.
The loss of time and want of control thus induced are sufficient arguments for
an entirely new plan of these buildings. But such a measure becomes in fact
unavoidable when we find that besides their unfitness for the objects of their
construction and the impossibility of adapting them to the introduction of
improved mechanical means, they are reported by the Superintendent of the
Public Buildings to be in a condition which requires extensive and chargeable
repairs.
The absolute necessity of a new mint is therefore, we conceive, fully
established and it only remains to determine upon the plan and the situation of
the mint and the probable expense of its erection. The plan and estimate, it
appears from the report of the officers of the mint, have been prepared, but as
some difficulty occurs with respect to the situation of the mint, by which the
plan and estimate must be finally modified, it has been necessary to retain
them for some time longer. We have in the meantime considered it expedient to
forward the accompanying report and to express our sentiments on the general
question.
The advantages of improved means of coining can scarcely need to be
pointed out when they are evidently and urgently required in the Calcutta mint,
whose manifold and serious imperfections are specified in the report
accompanying. The detail of these improvements is contained in a printed
account of the Royal Mint, elucidated by engravings and which accompanies the
report.The particular machines wanted here are stated in the report. We have
only to express our conviction that the supply is highly necessary and will be
productive of great advantage to the coinage of the country. The best and most
expeditious mode of procuring it from England appears to us to be the dispatch
of some qualified person from hence who could personally accelerate its
preparation and whose local knowledge might in the course of its fabrication
suggest such modifications as may be required by the country for which it is
designed, the people who are to be employed in working it or other
circumstances affecting its agency when erected. The expediency of this measure
however, the Government must be better able to determine. Should it be written
for, at least two or three intelligent mechanics trained either in the
manufactories of Bermingham or in the Royal Mint should accompany it, to
superintend not only its erection, but its application to the coinage and it
would be expedient to secure their permenent services in the mint by allowances
proportioned to their skill and respectability.
The expense of a new set of machinery must be heavy and its being kept
up by supplies from Europe as in the case of the cast iron materials
especially, will entail a further charge. It is to be hoped however that the
progress of scientific research in this country will at no distant period
discover means of melting and casting iron, and we shall then be able to repair
and renew, as heretofore, all the apparatus of the mint within its walls. The
first expense therefore is the only object of any magnitude and this will very
soon be covered by the large savings which it must enable the mint to realize,
amounting as particularized in the accompanying report to an estimated annual
retrenchment of rupees 118,000, on a coinage which the mint will easily effect,
and consequently to more than 3 ½ lacs, if the power is as it is proposed to
be, tripled in extent. That the up-country mints may in that case be finally
dispensed with, admits of little doubt, and their abolition will effect a
further saving of more than one lac of rupees per year, making a total annual
reduction that must very soon repay any cost incurred in the erection of the
mint and its full equipment with the most effective machinery.
The establishment that may be required for such a mint as we hope the
Calcutta mint may be rendered, is a subject on which we are scarcely prepared
to enter, especially as the officers of the mint have hesitated to proceed at
present into the necessary detail. As far as we are acquainted with the
constitution of this mint however, and by comparing it with the mint of Great
Britain, as detailed in the printed pages accompanying, we are led to conclude
that the responsible officers of the Calcutta mint are too few in number, and
discharge duties much too general and undefined. With the exception of the mint
and assay departments and the English account office, we believe no persons
employed in the Calcutta mint besides the inferior native officers have a
charge of any particular division of labour but exercise merely general superintenance
or accasionally assume such a function as circumstances may demand, an
arrangement which is fatal to all attempts at systematic regularity, individual
responsibility and even to the degree of skill which experience in any
particular branch would infallibly attain in the Royal Mint, as appears from
the printed account. The principle officers are five, the subordinate, but
still for the most part independent officers, twelve, and none of these pretend
to any interference with the mechanical operations of the coinage, which are
entirely under the charge of the provost and company of moneyers, consisting
usually of five or six members, men of property and respectability, with young
men of their families and connections, educated as apprentices and employed
under them in the mint.It would be very unnecessary to adopt this complicated
syatem to its whole extent, nor is it practicable in the present state of the
Calcutta mint to institute with much advantage any essential change in this
respect. In the event however of the erection of a regular mint with improved
means of work, and with the accession of two or three skillful men from Europe
acquainted with the processes of coining, we should arnestly recommend that
over and above his personal duties, the business of general superintendance
should be confined to the Mint Master with the help of an assistant from some
branch of the Company’s service, which latter should also conduct the general
receipts and deliveries. We should suggest further that the valuation and
calculation of the produce of bullion now prepared by the Assay Master should
be transferred to the mint office and be guaranteed by the signiture of the
Mint Master, and the assay office remain one of practical science, not of
account. That the foreman of the mint should take the place of the
superintenant of the machinery and clerk of the iron at home, and that the
assistant should be severally attached and for the time at least restricted to
particular departments, a system of progression from one department to another
might be established which would extend their knowledge and reward the
exertions of these officers. We must also strenuously recommend the employment
of a European dye engraver of ability and character. These arrangements we think
might very easily be introduced were the bulidings so constructed as to admit
of them and they could not fail to promote regularity, dispatch and accuracy.
We are disposed also to doubt whether they would not ultinately prove
economical and by the better and more systematic execution of work, obviate
many of the present causes of waste and expence. It is probable also that the
more precise division of labour would render that labour lighter and
consequently fewer workmen would be required for its performance, presenting in
this manner a source of retrenchment which would be an equivalent for many
additional charges first incurred by the employment of more and abler officers.
However, as already observed, we are not yet prepared to enter fully into the
subject of a revised establishment for the new Calcutta mint.
Bengal
Mint Committee Proceedings.
IOR P/162/71, No 29.
From
Government to the Calcutta Mint Committee dated 17th September 1819.
…His Lordship in Council fully concurs with your committee in regard to
the necessity of constructing a new mint, with machinery of much more extensive
powers then that of the present Calcutta mint, and considers the suggestions
submitted by you in regard to the future management of the mint to be generally
judicious.
Your committee will however, of course, submit to Government a further
report in regard to the establishment to be entertained when you shall have
matured your deliberations on that subject.
With respect to the nature of the machinery to be used, His Lordship in
Council presumes that generally speaking, the most expedient course will be to
be guided by the practice of the London mint, and the object of preventing the
loss and inconvenience, which must result from any delay or interruption in the
coinage is so important as greatly to outweigh the original charges that will
attend the procuring of the most efficient machinery.
His Lordship in Council therefore desires that your committee should
consider and report the extent to which you may deem it necessary that the
powers of the mint should be carried so as to be calculated to meet the utmost
probable demands of Government and individuals for coinage, and to afford the
means of occasionally suspending the mint operations as circumstances may
suggest.
It will likewise belong to your committee in communication with the
officers of the mint to consider particularly how far it may be necessary to
introduce any and what special modifications in the machinery in use at home in
order to its better application to the local circumstances of the Calcutta
mint.
In considering this subject it would apparently be very useful to seek
the aid of some gentleman conversant in practical mechanics, and at the same
time acquainted with the operation of the mint, and Government will be fully
prepared to receive favourably any suggestion from your committee on the means
of securing to you this advantage.
His Lordship in Council also concurs in the opinion expressed by your
committee that advantage would result from the deputation of some person to
England to superintend the preparation of the machinery required.
But in order to attain the full benefit of such an arrangement, it
appears essential that the person deputed should posses the qualifications
above indicated, and the object does not appear to Government to be of
sufficient importance to justify the incurring of any large expense in
attaining it.
Should however your committee meet with any person so qualified willing
to undertake the duty on an allowance not exceeding 5 or 6 hundred rupees pr
month, His Lordship in Council will be disposed to avail himself of his
services on such terms as your committee may recommend under the above
restriction.
In the event of no such person being found, it may be hoped that your
committee will still be able with the aid of professional advice to furnish
such information in regard to the peculiar fashion of the machinery, which
local circumstances may suggest with such models as may enable the mechanics in
England readily to understand and execute what is wanted.
You are requested to proceed in your enquiries on the above points and
to submit the result of them to Government at your earliest convenience.
Bengal
Mint Committee Proceedings.
IOR P/162/71, No 35.
Resolution
dated 24th September 1819.
James Prinsep appointed assistant assay master at Calcutta. Once he has
learned from Mr Wilson, the latter to be transferred to Benares to act as Assay
Master
Bengal
Mint Committee Proceedings.
IOR P/162/71, No 42.
Resolution
dated 15th October 1819.
Mr Wilson ordered to proceed to Benares as Assay Master. Mr Atkinson to
become Assay Master at
Boards
Collections. IOR F/4/833, No 22121. p1
Extract
Finanacial Letter from Bengal dated 29th October 1819.
In the 37th and following paras of the letter from this
department dated the 17th July 1818, we brought to notice of your
Honble Court a report from the Mint Committee at this Presidency in which,
after entering on a detailed review of the past operations of the Calcutta
mint, they suggested several alterations in the system heretofore pursued. On
the proceedings noted in the margins, Your Honorable Court will find recorded a
further report from the Committee on the same subject.
The adoption og the new standard for the Calcutta rupee, on which
Government had already determined, involved of course a considerable saving of
expense of refining, and will indeed to a considerable extent supersede the
necessity of any operation of that nature.
In proposing a corresponding reduction in charges paid by individuals,
the Committee suggested the expediency of reducing the whole charge under one
head. They further ecommended that as the arrangement to be adopted would bring
the quality of the Calcutta rupee within 5 ½ dwts of the Spanish dollar, all
bullion not inferior to the standard of the last mentioned coins, should be
wholly exempted from refining charges. With a view also of adjusting the
relative value of the gold & silver on the principle which had already been
adopted at the other Presidencies, and which appears to be more conformable
with the usual market value of the two metals, the Committee proposed a small
reduction in the quantity of fine metal contained in the gold mohur, so as to
raise the mint value of gold compared with silver from the former rate of
14.861 to that of 15 to 1.
In addition to the above measures, which had reference chiefly to the
mint immediately under their superintendance, the Committee you will perceive,
suggested the expediency of abolishing the mint establishments in the Western
Provinces, and rendering the Calcutta sicca rupee the general currency of the
territories subordinate to this Presidency.
The last measure, involving an important change in the value of the
currencies of Benares and the whole of the Western Provinces, we deemed it
advisable, before passing any final orders on the subject of it, to consult the
Board of Commissioners, and the agent to the Governor General at Benares.
A considerable period having elapsed before we received a reply from
those authorities, and a large quantity of bullion having accumulated in the
Calcutta mint, we deemed it advisable to give effect to that part of the
suggestions of the Committee which had referece to the Calcutta mint, without
waiting the determination of those questions which related to the proposed
change in the currencies of the Western Provinces.
The necessary legislative provisions for this purpose were accordingly
prepared under out instructions by the Committee, and have been enacted as
regulation XIV, 1818.
In the reports subsequently received from the Board of Commissioners and
the Agent to the Governor General at Benares, a decided opinion was expressed
against the expediency of altering the currency of the Western Provinces, and
on a reconsideration of the subject, with reference to those reports, and to
the further information before them, the Mint Committee at the Presidency
concurred in the expediency of at least postponing the adoption of the measure
to the full extent contemplated. They renewed however the expression of their
opinion that it was equally unnecessary and inexpedient to maintain a separate
coinage for the province of Benares, and proposed that the Farruckabad rupees
assimilated in respect to standard with the Calcutta rupee, should be declared
the leagl currency of that province, and of the provinces to the west and
north. With this suggestion, which involved of course the discontinuance of the
coinage of the Benares rupees, the Committee united a proposition for
abolishing the mint establishment of Farruckabad and for conducting the coinage
of the Western Provinces at Benares, the establishment of that city to be
proportionally improved and extended.
Being entirely satisfied of the expediency of the measures suggested by the
Committee, we have resolved to adopt them, and have accordingly instructed the
Committee to prepare a draft of a regulation for giving them effect.
We are fully sensible of the advantages which would attend the complete
assimilation of all the currency of British India, and still more of the
inconveniences which result from the existance of different local currencies in
the provinces subordinate to the same Presidency.
We have not therefore without considerable reluctance relinquished the
object of reducing the coinage of this Presidency to one standard of value, but
the attanment of it is undoubtedly opposed by formidable obstacles.
On the one hand, the Calcutta sicca rupee having been long established
throughout the extensive provinces of Bengal, Behar & Orissa, all private
engagements have been made in that coin. The land revenue payable by the
zamindars which (with patial exceptions) has been fixed in perpetuity
throughout those provinces, as well as the whole of the registered debt of this
country is likewise expressed in the Calcutta rupee. Any alteration in its
value would therefore occasion great embarrasment and perplexity. On the other
hand the Farruckabad rupee forms the currency of the whole of the Ceded and
Conquered Provinces, and the influence of any change in regard to it would be
proportionally important and extensive. In it, all payments on account of the
public revenue within those provinces are received, and the pay of the troops
and of all public establishments therein stationed is discharged. The price of
articles of ordinary consumption has necessarily been regulated with reference
to the local coin. If therefore the Calcutta sicca were rendered the local
currency of those provinces, while Government must of course allow to the zamindars,
an abatement in their revenue equivalent to the difference between the Calcutta
and Farruckabad rupee, and would therefore be compelled to issue the former at
its intrinsic value, the troops and other public establishments might be
subject, temporarily at least, to considerable loss and inconvenience, by
receiving payment in a coin that might not immediately bear its full value in
the market compared with articles of ordinary consumption.
For these reasons it has appeared to us proper, for the present at
least, to maintain the currencies now established in the provinces of Bengal,
Behar & Orissa, and in the Ceded and Conquered provinces respectively. The
legal circulation of the Benares rupee is confined to a single province. That
coin has long been issued to the troops and other public establishments, as
equivalent to the Farruckabad rupee. It circulates generally at par with that
rupee, when employed beyond the limits of the province of Benares, though
exceeding it in value to the extent of 2¼ per cent.
The land revenue of Benares is indeed like that of Bengal, Behar &
Orissa, fixed in perpetuity, and any alteration in the nominal amount of the
Jumma being likely to lead to serious misapprehension, we have deemed it right
in introducing into Benares, the inferior currency of the Wesyern Provinces, to
relinquish the claim which Geovernment might in strictness assert to the
difference between the two rupees, rather than give the slightest occasion for
any doubt or alarm in regard to the stability of an arrangement guaranteed by
the public faith. The amount however of the land revenue in question is
comparitively limited, and the public advantage likely to result from a
simplification of the currencies of those provinces, appears to counterbalance
the partil loss which Government must sustain in receiving the Farruckabad
rupee at par with the Benares rupee. The investment of private engagements in a
single province will be compatatively easy, and while the community will be
saved from the loss which they have heretofore sustained whenever they carried
the Benares rupee beyond the limits of that province, the fifference between
the two coins, amounting only to 2¼ per cent, will have little or no
perceptible influence on the market price of articels consumed by the lower
orders of the people, more especially since the value of the two rupees in
copper money has for some time past been equalized. It appears therefore that
the discontinuance of the coinage of the Benares rupee, while it will greatly
simplify the monetary system of this Presidency, and will otherwise essentially
promote the trade and general prosperity of the country, will be attended with
little inconvenience, and that only temporary and partial.
The inconvenience resulting from the continuance of a separate coinage
in the Western Provinces will be considerably diminished by the uniformity of
the standard, since, by this means the conversion of one currency into the
other, and the coinage of Farruckabad rupees at the Calcutta mint will be
rendered comparitively easy.
Your Honble Court is aware that the duties of Mint and Assay Master at
Benares have heretofore been confided to one officer.
Under the above resolution the operations of the Benares mint are likley
to become considerably more extensive than they have hotherto been. The
importance of securing the utmost accuracy in the coinage to be conducted
there, is enhanced in a still higher proportion, and independently of any
change, it appeared to us indispensibly necessary to vest the charge of the Assay
Department in a distinct officer. No duly qualified officer was immediately
available for the purpose, but on the arrival of Mr Prinsep, who had been
appointed by your Honble Court, Assistant Assay Master at Calcutta, we resolved
to depute Mr Wilson to assume temporary charge of the Assay Department at
Benares and otherwise aid in the introduction into that mint of an efficient
syatem of management.
It being at the same time of primary importance to guard against any
risk of embarrassment in the conduct of the Assay Department at the Presidency,
it appeared to us proper to postpone Mr Wilson’s departure until Mr Prinsep
shall have had the advantage of acting under him for some time, and of
benefiting by his experience, and we desired the Mint Committee to report
whenever they might be satisfied that the arrangement contemplated could be
advantageously carried into effect.
In reply to this call we received a report from the Mint Committee
stating that as far as concerned a knowledge of the principles of assaying, and
skill in their practical application, Mr Princep might be considered fully
qualified to undertake the duties of the Assay Office, within the earliest
period at which Mr Wilson could make the necessary preparations for leaving the
Presidency. But expressing an opinion in conformity with the sentiments of the
Assay Master, Mr Wilson, that there were various details affecting the interior
arrangement of the office, and its connections with other departments which
time and experience could alone render familiar, and with reference to which therefore it
appeared to the Committee unadvisable to transfer the charge of the Assay
Office to Mr Prinsep at so early a period.
The Committee at the same time strongly urged the importance of avoiding
any delay in the introduction of the proposed improvement in the Benares mint,
and the expediency therefore of an arrangement being made for obviating the
only obstacle that existed to Mr Wilson’s immediate departure.
Concurring with the Committee in opinion, we resolved that Mr Wilson
should be directed to proceed to Benares with all convenient expedition and
have judged it proper to assign to him an extra allowance of rupees 400 per
mensum to cover the extra charges to which he will be subjected by his
deputation to Benares.
With reference to the experience which Mr Atkinson has acquired by a
service of many years in the Assay Office of Calcutta, and in conformity with
the views entertained by the Mint Committee, we resolved that Mr J Atkinson
should officiate in the room of Mr Wilsonas Assay Master at Calcutta, and
secretary to the Committee, and that for the performance of the duties attached
to these situations, Mr Atkinson should receive an allowance of rupees 800 per
mensum.
We see every reson to hope that great advantages will result from Mr
Wilson’s deputation and the immediate charge resulting from the measure (rupees
1200 per mensum) does not exceed the amount which it would in our opinion be
proper to assign to an officer permanently appointed to the duties which Mr
Wilson will, with so much public benefit, temporarity discharge.
The conduct of Mr Atkinson during the long period for which he held the
situation of Assistant to the Assay Master has received our entire approbation,
and his age and experience naturally pointed him out as the fittest person to
supply the place of Mr Wilson, but it is not of course our wish or intention in
any degree to oppose the views which you may entertain in regard to the
promotion of those who may derive their appointments directly from Your Honble
Court. You will naturally give their due weight to the claims which Mr Atkinson
has preferred on the ground of long service and approved skill, to be continued
in the department, and we readily recognise the wisdom of your resolution to
secure for your Indian Mints the services of persons carefully eductaed for the
purpose in England.
Along with the discussion of the arrangementsto be adopted in regard to
the coin of our antient possessions the Mint Committee have, Your Honble Court will
perceive, entered on a consideration of the measures to be pursued for
reforming the currency of the territories recently annexed to this Presidency,
and have with that view proposed the introduction there of the Farruckabad
rupee, and the temporary establishment of mints at Saugor and Ajmere.
The suggestions of the Committee appear to us to be judicious, but we
have not yet finally resolved on the details of the arrangement, in regard to
which therefore, we shall take another opportunity of addressing you.
On the proceedings of the annexed dates, your Hinble Court will find
recorded our correspondance with the Accountant General and the Mint Committee,
in regard to the measures to be adopted for obviating the inconvenience
resulting from the inadequacy of the Calcutta mint to meet the demands of
Government and of individuals for coinage.
From a letter received from the Accountant General in the beginning of
April last, it appeared that during the months of January, February and March
of the present year, the amount drawn from the General Treasury in payment of
certificates issued to the owners of bulliontendered for coinage at the
Calcutta mint amounted to rupees 9,620,000, being rupees 4,576,000 beyond the
amount recived at the Treasury from the mint during the same period, and that
in the four following months, a similar excess might be expected to occur, to
an extent likely, in the reduced state of the Treasury, to occasion very
serious embarrassment.
Under thse circumastances we resolved in conformity with the
recommendation of the Accountant General, to extend the term of mint
certificates, which had heretofore been payable in 15 days [query 10 days], to
the period of four months, and we at the same time determined to provide by
legislative enactment for the future exercise of the discretion which it had
thus been found necessary to assume.
From a subsequent letter received from the Accountant General, it
appeared that the anticipation of an excessive importation of bullion into the
Calcutta Mint had not been [overstated]. The mint certificates issued in the
seven days of April, which elapsed before the publication of the advartisement
notifying the above resolution, amounted to nearly 20 lacs, the remittance to
the Geberal Treasury in the same period being less than 5 lacs. The total assay
value of private bullion received from the 1st January to the 7th
April was rupees 14,074,815. The money coined during the same period amounted
only to rupees 5,454,975.
This result abundantly evinced the necessity of reserving to Government
a discretionary power, in regard to the terms on which it will hereafter
receive private bullion. It likewise rendered it indispensibly necessary for us
to adopt some extraordinary means of relieving the General Treasury, and for providing
for the payment of the interest falling due on the 30th June. For
this purpose the Accountant General suggested on the grounds stated in the
annexed report, the issue of treasury notes bearing an interest of 5 per cent,
and payable at six months after date.
Concurring in the views of the Accountant General, we adopted the above
suggestion. It appeared to be at the same time proper to give the holders of
bullion the option of receiving treasury notes of the above description in
exchange for their mint certificates, and to extend this advantage to those who
might have tendered bullion under the terms of our former resolution. We were
not indeed prepared to admit that bullion holders can in strictness require
Government to receive their bullion to an unlinited extent and to pay for it at
an earlier period than must elapse in the process of coining.
It is however the obvious duty and interest of Government to afford to
the merchant every practicable facility in converting his bullion into coin.
Our regulations too might undoubtedly be interpreted as holding out to the
community a pladge that bullion would at all times be received on the terms
therein stated, and though the difficultied experienced at the mint were
attributable partly to the arrangements connected with the change of standard
(a change very advantageous to the holders of bullion) and partly to an
unprecedented importation of the precious metals, against which the Government
could scarcely be expected to provide, yet we also felt that the public has
some ground for just complaint in the inadequacy of the machinery and
establishment of the mint.
From the state of the monay market at the time, the inconvenience was
indeed much less sensibly felt than it would have been at any former period,
and the issue of treasury notes bearing an interest of 5 per cent only, was, we
believe, entirely satisfactory.
But, had that relief been withheld, the act of postponing payment of the
certificates would undoubtedly have operated severely on the interests of several
individuals and by depriving the mercantile community of the assurance which
they have hitherto enjoyed of being able at all times to render their bullion
available at a certain fixed charge must likewise have had an injurious
influence on general commerce and consequently on the interests of Government.
While indeed the Calcutta mint shall continue on its present footing, it
must be impracticable for us to meet the occasional demands of the public for
coinage at so early a period as within 10 days of the delivery of the bullion,
and we have therefore deemed it proper to reserve by Regulation V of the
present year, the power of fixxing from time to time the periods within which
the mint certificates shall be payable. It will not the less be an object of
great importance to confine those periods to as narrow limits as practicable,
and even more to avoid any frequent or sudden changes of system.
With respect to the equalisation of the duty levied on the gold coinage,
it may be sufficient to remark that after the best consideration of the
subject, we could perceive of no adequate reason for the distribution which had
been established under the former rules. The motive assigned to the preamle of
Regulation 35, 1793, for imposing a duty of 2½ per cent on gold, when silver of
the proper standard was coined without any such charge, Viz that of
discouraging the importation of gold bullion in preference to silver bullion,
appeared to us a mistaken one. If any undue encouragement to the importation of
gold then existed, it must have arisen from an overvaluation of the metal as
compared with silver, and of that the proper remedy would have been found in a
slight increase in the quantity of fine metal contained in the gold mohur. We
apprehand however that as such remedy was required, and at all event the
gradual enhancement of the value of gold has now more than corrected the
original disproportion, in so much that, as already intimated, we have fixed
the rate of gold at 15 to 1, as compared with silver.
Still less could we share the apprehension expressed in the regulation
above referred to, that too large a proportion of gold was likely to be
introduced into circulation. The additional ½ per cent seems to have been
retained in the regulations subsequently passed without any particular
discussion of the principles of the measure, but the duty of 2 per cent being
fully adequate to cover all the charges of coinage, it appeared to us to be
clearly expedient to place the two metals on an equality.
Bengal
Mint Committee Proceedings.
IOR P/162/71, No 49.
From
Government to the Calcutta Mint Committee dated 5th November 1819.
Reviewing the consideration of the arrangements to be adopted for
providing the new machinery for the Calcutta mint, the Governor General in
Council deems it advisable to avail himself for that purpose of the services of
Lieutenant W Forbes of the engineers, who now holds the situation of surveyor
of Embankment.
It is understood that the health of Lieutenant Forbes is likely at no
distant period to compel him to solicit at temporary relief, at least from the
duties of the last mentioned situation, if not to seek permission to proceed to
Europe for the restoration of his health. As far therefore as the embankment
department is concerned the arrangement now proposed will only anticipate an
inconvenience, which is in all likelyhood unavoidable, while at the same time
th eprofessional skill of Mr Forbes may, the Governor General is assured, be
most beneficially employed in superintending the preparation of the machinery
required for the Calcutta mint.
The precise extent and power of the machinery to be obtained is now a
question under the consideration of the Mint Committee. Under the system
pursued in this country under which all short weight rupees are regularly
remitted for recoinage from Government treasuries, the great mass of the
currency is of course constantly maintained at nearly its full value, and there
is not therefore likely to arise any necessity for those rapid and extensive
operations which the reform of the currency in England has occasionally
required. It is clear however that to meet the temporary wants of the bullion,
much more powerful machinery than that now used at the Calcutta mint is
indispesibly necessary, and Government has in the past season been under the
obligation of paying in the form of interest on mint certificates, which it was
impossible to discharge, a sum nearly equal to the probable value of the
machinery now proposed to be obtained. It is likewise of great importance to
posses the means of extending at pleasure the coinage of fractional parts of
the rupee and gold mohur. It is therefore in the judgement of the Governor
General in Council decidedly expedient to guard carefully against the error of
thinking the powers of the new mint, even at the risk of erring on the opposite
side. But Government will again enter on the consideration of this point when
the report of the Mint Committee shall have been received and the period shall
arise for addressing the Honble Court of Directors on the subject. In the
meantime Lieutenant Forbes will be instructed to give his particular attention
to the system followed in the Calcutta mint, so as to make himself fully master
of all the peculiarities attending the operations there conducted, in order
that he may distinctly perceive how far these peculiarities arise merely out of
defects, which an improved machinery and establishment will remedy, or have
their origin in the character of the workmen or other local circumstances which
cannot be controlled and to which the machinery and establishment must be
accomodated.
For the above purpose, Mr Forbes will put himself in immediate
communication with the members of the Mint Committee and the officers of the
Calcutta mint. It is the intention of Government that his departure for England
should not be delayed beyond the expiration of the present year or at least
that he should leave Bengal early in January next. This it is conceived will
afford him sufficient time for every necessary enquiry in regard to the
operation of the Calcutta mint.
The experience he has already had will have sufficiently apprized him of
the general state of practical mechanics in this country, by which of course
the nature of the machinery to be provided for the mint must in some degree be
regulated.
In superintending the preparation of the machinery in England, Mr Forbes
will of course act under the immediate orders of the Honble Court of Directors,
to whom consequently he shall be referred for detailed instructions in regard
to the execution of that duty.
Although construction of that portionof the new mint which comprises the
houses of the mint officers and the places designed for the receipt and custody
of the bullionmay probably [be] commenced whenever the site of the new mint
shall be fixed, it will apparently be necessary to postpone the erection of the
building designed for the reception of the machinery until the nature and
extent of that machinery shall have been fully ascertained and when the Honble
Court shall have finally determined that point, Mr Forbes will doubtless be
instructed by that authority to prepare for transmission to this country, plans
of the machinery and of the buildings in which it is to be put. For this duty
likewise Lieutenant Forbes possess every necessary qualification, and by
adopting the above course a considerable portion of the building in question
may with advantage be constructed previously to the arrival of the machinery,
and the final completion of the work will thus be greatly expedited.
It is understood that Mr Fitzgerald, assistant to the surveyor of
embankments, is fully competent to the executive part of the duty of surveying
and the Governor General in Council accordingly proposes that that officer
should still proceed with the survey as assistant surveyor. The situation of
surveyor of embankments will be kept open and will be resumed by Lieutenant
Forbes on his return. He will before his departure issue such general
instructions to Mr Fitzgerald as may appear calculated to assist has progress
and he will likewise submit to Government a report on the operations which have
been already completed in the district of Burdwan.
Mr Forbes will during his absence cease to draw the allowance attached
to the situation of surveyor of embankments and the Governor General in Council
resolves to him in addition to his military payand allowances, the sum of sicca
rupees 600 per mensum to cover all expenses incident to his deputation.
Bengal
Mint Committee Proceedings.
IOR P/162/71, No 51.
Regulation
dated 10th August 1819.
Rules & punishments for people working in the mint
Bengal
Mint Committee Proceedings.
IOR P/162/71, No 55.
From
Calcutta Mint Master to the Mint Committee dated 12th December 1819.
I have the honor to receive your secretary’s letter of the 12th
ultimo transmitting for my information and guidance an extract from the
resolutions of Government in the financial department relative to the proposed
departure for England of lieutenant Forbes of the Engineers for the purpose of
superintending the preparation of the machinery required for the new Calcutta
mint, and directing me to communicate with him on such points of local
consideration as are immediately connected with that object.
In order to give Lieutenant Forbes a general idea of the defects which
pervade the system of coining now in practice at the Calcutta mint, I have
furnished him with extracts from my address to your committee under date the 7th
March 1818, and from the joint letter from Mr Wilson and myself dated the 11th
August 1819, which gave rise to the determination of Government to erect a new
mint with improved machineryto procure which is the special object of his
mission.
The perusal of these documents will enable Lieutenant Forbes to direct
his observation in the course of his attendance at the mint to each department
separately, and to distinquish between defects which are susceptible of remedy
by impeoved machinery, and those which arise out of the nature of the materials
we are obliged to work with, and other peculiarities which may be supposed to
affect the agency of the machinery when obtained.
The character and habits of the native workmen, and the fuel obtainable
here, come under the latter description, and should not of course be lost sight
of by him when in England. His personal attention will likewise be directed to
the degree of skill which the mechanics of the mint have attained to in casting
and preparing different sorts of metals which will be required for keeping in
order or making trifling alterations in the new machinery, which tho’
principally of cast iron, may have some of its parts composed of other metals.
He will thus be able in some measure to adapt his selction of machinery to the
means we posses in this country of keeping it in order.
It will of course be considered necessary that some skillful person
should be sent out with the machinery to superintend its first erection, and
instruct the mechanics here how to keep it in order, the propriety of retaining
his services for a continuance at this mint may hereafter be determined upon. I
stringly recommend that a skillful die sinker be also sent out who might
instruct a certain number of boys from the orphan or free school in the art of
die sinking. This important department of the mint should be taken out of the
hands of native engravers and the dies should be of such superior workmanship
as to render it impossible for common artists to counterfeit the coins.
As it has been determined that a change should be made in the superscription
of the coins, and as it is impossible for a considerable length of time to
prepare a sufficient stock of dies here for the new coinage, I submit whether
it would not be expedient in the first instance to have them sent out from
England, where they might be prepared by an artist of eminent taste and skill
under the inspection of Lieutenant Forbes.A letter legend or chain milling
would better secure the edges of the coin against drilling, which is a common
practice in this country. It is here noticed as I believe by the new machinery
the coins are stamped and milled at the same time. If these suggestions meet
the approbation of your committee, Lieut Forbes may be instructed accordingly.
My communications with him have been confined to the points I was directed to
draw his attention to.
As it is highly important that the new mint should be rendered equal to
the utmost probable demands on it as well from the General Treasury as from
individuals, for halves and quarters rupees, I recommend that the machinery be
ordered for a coinage of 400,000 pieces per day (of 12 hours). A coinage of
copper might then be conducted when required without interfering with that of
gold and silver. The system of working at the mint during the night should
certainly be put a stop to, as it involves considerable risk and requires such
extra attendance on the part of the officers of the mint as it cannot be
expected they should give for a constancy, tho’ in times of emergency such as
the past 15 months have been, they have done so cheerfully. It is likewise
expedient that there should be some cessation to the operations of the mint in
order that due attention may be paid to economy. At His Majesty’s mint the
coinage is principally conducted by contract. Here, the Mint Master makes the
best arrangements he can for the interests of Government, with the native
workmen, who are ever ready to take advantage in time of emergency.
Whatever be the amount determined for the extent of the daily coinage at
the new mint, arrangements should be made for ensuring a suitable annual supply
of cast iron, crucibles and ingot moulds, until we may have the means of
casting them ourselves, or procuring them in this country. They might be
brought out as ballast, I imagine, at a moderate expense. A quantity of
firebricks for constructing the new furnaces, and occasional supplies of them
might be sent out in the same way, as it is the opinion of Lieutenant Forbes
that the proper description of fire bricks are not easily procurable in the
country.
Bengal
Mint Committee Proceedings.
IOR P/162/71, No 56.
From
Lieutenant Forbes to the Mint Committee dated 20th December 1819.
He states …as I embark for England on about the 27th proximo…
There then follows his letter summarising all that he has learnt about the
problems of the existing mint. Essentially covers the same areas as had been
discussed by Saunders and Wilson, but adds some of his own observations. Some
interesting numbers – eg the coinage of a lac of rupees requires 236 people
just to adjust the weight of the blanks
There is then a covering letter from the Mint Committee to Government.
This includes the following:
We further recommend the adoption of Mr Saunder’s suggestion for
postponing the proposed change in the impression of the coin until a supply of
dies can be procured from England. We need not state the advantages of securing
the most perfect workmanship.
We think it advisable that the denomination of the coin should be
impressed on it and it will be proper we think, to avoid any reference to
dates.
In other respects we attach little importance to the nature of the
device or legend. The Musselman prejudice against representations of animals is
of course known to Government, but we imagine from the impression chosen by the
Nawab Vizier, now King of Oude, that it is of little weight.
Bengal
Mint Committee Proceedings.
IOR P/162/71, No 60.
From
Calcutta Government to Lieutenant Forbes dated 24th December 1819.
The final instructions to Forbes about what he should do. This is a
summary of all the previous descussions
Bengal
Mint Committee Proceedings.
IOR P/162/71, No 103.
From
Calcutta Assay Master (Atkinson) to the Mint Committee dated 14th
April 1820.
Long letter about how the assay method can be improved. In it he
discusses how the work of the assay office has increased and some of the
methods used to fraudulently debase the silver.
…In the five years from 1804 to 1808 only 9,582 assays of gold and
silver were made, whilst during a similar period from 1809 to 1813, 30,121 were
made, and from 1814 to 1818, 40,308. In the first nine months of 1819, 10,902
were made, which would give in the same number of years, vix five, upwards of
78,000 assays, being more than 8 times the number made from 1804 yo 1808…
…Previously to the assay department of the mint being conducted on the
European plan, and some time after, the frauds committed by the melters were of
considerable extent, and though the assays from the meltings clearly proved the
existence of these frauds, there was great difficulty in discovering in what
stage of the process, and how, they were effected. At length one of the persons
employed informed the Assay Master that if he would attend at the melting rooms
at the time the crucibles were placed on the fire, he would point out to him
the method adopted in depreciating the metal, to avoid detection. He attended.
All the crucibles were taken off the fire and the clay covers (which are placed
upon them to prevent the charcoal and fuel from falling into the fused metal)
were removed. In these covers a certain number of copper pice were stuck, no
visible whilst the clay was moist, but when it became heated and contracted,
they of course dropped into the melted bullion. A quantity of silver equal to
the weight of the pice had been previously taken from the crucibles, so that
the weight of the mass continued the same as before. The loss sustained by this
artifice was calculated to amount to about 3,000 rupees per month, and it was
supposed at the time that this discovery had put an end to all irregularity in
the melting rooms…
Bengal
Mint Committee Proceedings.
IOR P/162/71, 14th July 1820. No 124.
From
Government to Calcutta Mint Committee dated 14th July 1820.
The services of Mr Saunders
being required at Agra, the Most Noble the Governor General in Council has been
pleased to nominate Mr J.M. McNabb to officiate as Mint Master at the
Presidency. Mr McNabb has accordingly been requested to receive charge of the
above mentioned office from Mr Saunders whenever that gentleman may be prepared
to deliver over charge.
Bengal Mint
Committee Proceedings. IOR P/162/71, No 135
Letter
from Macnabb to Mint Committee dated 24th July 1820.
I have the honor to report
for your information that I have this day received charge of this office from
G. Saunders to whom I have delivered the requisite receipts
Bengal Mint
Committee Proceedings. IOR P/162/71, No 143
Letter
from Government to Mint Committee dated 18th August 1820.
I am directed by His
Excellency the Most Noble the Governor General in Council to acknowledge
receipt of your letter of 22nd June last, transmitting draft of a
regulation for rescinding section 46, 47 & 48 Regulation XLV of 1803.
The sentiments of Government
concur with those expressed by your committee, and the regulation proposed by you
will be immediately passed.
Bengal
Mint Committee Proceedings.
IOR P/162/72, No 6, 7, 8 & 9.
From Wilson
to the Mint Committee dated 2nd March 1820 (prob mistake for 1821).
From Mint
Committee to Calcutta Government dated
From
Calcutta Government to Mint Committee dated
From Mint
Committee to Wilson dated 14th March 1821
Stating that he has returned to Calcutta and awaited instructions to
resume his duties. He was ordered to immediately resume his duties as Assay
Master
Bengal
Mint Committee Proceedings.
IOR P/162/72, No 11.
Letter
to Mint Committee from Government, dated 16th March 1821.
Macnabb appointed Mint Master at
Bengal
Mint Committee Proceedings.
IOR P/162/72. No 19 & 20
Letter
from Lieutenant Paton to Captain Phipps (Superintendent of buildings), dated 22nd
March 1821.
Agreeably
to the instructions contained in your letter No 2182 of the 24th
ultimo, I have now the honor to state that in company with Mr JM Macnabb Esq,
Acting Mint Master, I minutely examined the different buildings of the mint and
am sorry to report the whole, with the exception of the Mint Master’s dwelling
house and assay office, in a very bad state.
The
laminating department is in very bad order, the exterior and interior walls
being much cracked and some of the off their perpendicular. Two of the western
arched doorways of the western room must be built up to prevent the front wall
from falling down.
The
transverse walls of the store rooms are, in consequence of the great weight of
copper depositied, much sink, dangerously cracked and off their perpendicular,
and must be immediately taken down and rebuilt. I have the honor herewith to
transmit an estimate of the probable expense to repair what is most urgently
required, and at the same time respectfully beg to bring before the
consideration of Government, the bad state of the buildings generally but more
particularly that of the laminating department, which is so shattered from
heavy machinery as to render any repairs that may be made to it, of no use.
Bengal
Mint Committee Proceedings.
IOR P/162/72, 4th April 1821. No 22.
Letter
to JM Mcnabb (Calcutta Mint Master) from Mint Committee, 4th April
1821.
I
am desired by the Committee for superintending the affairs of the mint at this
Presidency to bring to your knowledge the fact that the silver bullion of the
present standard is effected in the Farruckabad mint at a loss of no more than
3 as 4 p per cent and to call your attention to a proportionate reduction of
the melting loss in the Calcutta mint.
Bengal
Mint Committee Proceedings.
IOR P/162/72. No 25 & 27.
Letter
the Mint Committee to Government dated 3rd April 1821.
Since
the new mint would soon be on its way, and the repairs to the old mint would be
very expensive, they recommended that only a small amount should be spent on
the repairs to the old mint, just sufficient ‘to prevent the actual fall of
part of the buildings’
This
is agreed.
Bengal
Mint Committee Proceedings.
IOR P/162/72. No 57.
Letter
to Calcutta Mint Committee from MacNabb (Mint Master) dated 29th
June 1821.
The
file marks which disfigure so large a proportion of the coinage of this mint,
will not have escaped the observation of the Committee. The defect is owing to
the want of tools better calculated for the intended purpose, the teeth of the
finer file used by the adjusters of this establishment, becoming rapidly
clogged with metallic particles and thereby soon rendered useless, and the
intersections of the oblique lines of the regular file forming points, which
produce the incisions complained of.
The
instrumants in use in the London mint for reducing blanks to the standard
weight, is called a float, and leaves the field of the coin perfectly smooth. The
rasp would operate similarly, but they even are not procurable in Calcutta, and
an attempt some time ago to manfacture them proved abortive.
I
submit therefore to the Committee whether it be not expedient that measures be
taken for procuring from England a supply of the floats or rasps for this mint.
As
the question of that expediency may be determined by the extent to which those
instruments are employed in this mint, I beg to state that of every 1800 blanks
delivered to the adjusting department, a proportion of 1500 is estmated to
exceed standard weight, the whole of which must be reduced by the file.
Bengal
Mint Committee Proceedings.
IOR P/162/72. No 68.
Letter
from Wilson (Now Acting Mint Master) to Calcutta Mint Committee dated 17th
August 1821.
He
continued with his experiments to melt larger amounts of silver in one go, and
had tested the machinery that he had ordered from Jessop & Co. It all
seemed to work. This mainly seems to have onvolved a crane to carry the extra
weight
Bengal
Mint Committee Proceedings.
IOR P/162/72. No 70, 97, 99
Letter
from Calcutta Mint Committee to Calcutta Government dated 28th
August 1821.
Pass
the information from Wilson to Government and everyone is congratulated. A
little later the furnaces required for the greater amount of bullion, break and
new ones are needed
Bengal
Mint Committee Proceedings.
IOR P/162/72. No 114, 116, 117
MacNabb
given new appointment and removed as Mint Master (17th October
1822). Mr Lindsay to officiate as Mint Master until further orders (19th
December 1822) but on 30th December Mr Trotter was appointed as Mint
Master
Bengal
Mint Committee Proceedings.
IOR P/162/73. No 1
Letter
from the Board of Directors in London to Calcutta dated 19th June
1822.
By
the Thames, private ship, there is consigned to you a complete apparatus for
one of the two rolling mills intended for the mint at Calcutta. The machinery
weighs about 120 tons and has been packed with great care by Messrs Rennie, the
mechanists by whom it has been fabricated. Immediately on the arrival of this
machinery at Calcutta it must be stowed in a place free from damp and as much
secured from the sun as possible, that it may be preserved from rust and every
other damage till the other parts of the machinery arrive, and till the
buildings of the intended new mint are ready to receive the whole apparatus
constructing for your use.
It
is supposed that Lieutenant Forbes will be prepared to leave the country by one
of the first ships the ensuing season, 1822/23 with the drawings and plans for
the the intended buildings. You will therefore be careful that no expenses be
incurred in the present mint buildings that can by possibility be spared, as
the extensiveness of the apparatus providing for your mint will require an
entire new erection of buildings for its reception.
In
the Thames also proceeds as a passenger in the boatswains Mr John Rose, the
mechanic selected by Messrs Rennie to take charge of the machinery laden on
that ship. In the packet is one part of the covenants, into which he has entered
for the due performance of the duties for which he has been selected. We have
agreed to find him quarters at Fort William, and also to allow him a salary of
£255 per annum during his period of employment in the Calcutta mint, as stated
in the covenants. This salary is to commence from 12th June 1822 and
we have advanced him £65.15 on account thereof, for the purpose of enabling him
to provide such necessaries as he may require to fit him for the voyage. For
the other conditions respecting our engagement with John Rose we refer you to
the covenant before mentioned.
Bengal
Mint Committee Proceedings.
IOR P/162/73. No 21
Letter
from Calcutta Government to Calcutta Mint Committee dated 20th
February 1823.
I
am directed by the Governor General in Council to inform you that Mt J Trotter,
Mint Master at Calcutta, has obtained leave of absence for a period of twelve
months, to enable him to proceed to the Cape of Good Hope for the recovery of
his health.
Bengal
Mint Committee Proceedings.
IOR P/162/77. No 15
Letter
from Saunders (Calcutta Mint Master) to Calcutta Mint Committee, dated
Encloses details
of the output of the Calcutta mint from 1813 to 1826
|
|
Madras Rupees
value |
Gold Mohurs
Value |
Calcutta sicca rupees tale
& value |
Farruckabad rupees value |
Bombay rupees value |
|
1813/14 |
|
1,084,428 |
2,755,150 |
|
|
|
1814/15 |
|
1,501,748 |
6,589,913 |
|
|
|
1815/16 |
|
935,900 |
13,739,981-8 |
|
|
|
1816/17 |
|
1,362,944 |
22,007,940 |
|
|
|
1817/18 |
|
1,566,940 |
4,981,209 |
4,798,450-5-8 |
|
|
1818/19 |
|
361,428 |
12,584,289-12 |
4,013,481-2-11 |
|
|
1819/20 |
|
531,652 |
25,285,664 |
1,029,998-3-7 |
|
|
1820/21 |
|
823,456 |
10,788,230 |
|
|
|
1821/22 |
|
424,520 |
7,264,825 |
|
|
|
1822/23 |
|
263,904 |
6,360,000 |
|
485,854-13-1 |
|
1823/24 |
738,416-12-11 |
125,396 |
1,262,950 |
260,562-4-10 |
2,340,883-10-7 |
|
1824/25 |
229,037-11-3 |
2,971,088 |
5,176,000 |
416,082-10-2 |
54,667-11-9 |
|
1825/26 |
|
3,361,248 |
9,271,935 |
324,376-5-8 |
|
|
Added from |
|||||
|
1826/27 |
|
3,426,832 |
8,097,615 |
|
|
|
1827/28 |
|
479,616 |
5,751,101 |
|
|
|
|
Copper Coinage
Tale |
|
1813/14 |
11,777,016 |
|
1814/15 |
299,400 |
|
1815/16 |
|
|
1816/17 |
|
|
1817/18 |
6,841,000 |
|
1818/19 |
302,600 |
|
1819/20 |
|
|
1820/21 |
5,672,300 |
|
1821/22 |
6,108,550 |
|
1822/23 |
|
|
1823/24 |
864,400 |
|
1824/25 |
3,103,000 |
|
1825/26 |
2,650,000 |
Letter
from Saunders (Calcutta Mint Master) to
Total
value of coinage 1826/27
Gold
Mohurs 3,426,832
Sicca
Rupees 8,097,615
Copper
Pice 30,803-14-6
Letter
Coinage of spelter
Letter
Coinage of Spelter
Letter
Coinage of spelter
Letter
from Saunders (Calcutta Mint Master) to
Total
value (Rs) of coinage 1828/29
Gold
Mohurs 501,296
Farruckabad
Rupees 84,240-2-11
Copper
Pice 105,192-3
Letter
from Saunders (Calcutta Mint Master) to
Total
value of coinage (Rs) 1829/30
Gold
Mohurs 1,024,032
Farruckabad
Rupees 3,271,093-3-5
Copper
Pice 170,200-8-3
Letter
from R Saunders (mint master) to the New Mint Committee, dated
…The committee are
aware that the copper coinage in all its branches is now conducted at the new
mint, that since June 1827 the silver laminating business has been carried on
there, and that in April last I was directed to commence upon a series of
experimental meltings and to report the result at the end of three months.
These meltings have latterly turned out so well that I do not anticipate any
impediment to the early transfer of this part of the business to the new mint…
Letter
from Forbes to the New Mint Committee, dated
Very long letter
which includes a report on the progress of building the mint from the beginning
to the present time. At one point he states:
…15th Apart
from time occupies in superintending or pratically directing work (which
defying further calssification, as progress has been affixed in the form of an
inventory) the committee are aware that in the course of the past year much of
the time of the new mint establishment has been taken up on experimental
coinages and meltings, in effecting the copper coinage alluded [to], in
managing the machinery for the laminating of heavy slab copper for a coinage
still in progress, in rolling the silver and gold (and recently in cutting out
the rupee blanks) struck at the old mint…
Letter
to the Military Board from
I
am directed to acknowledge the receipt of your letter No 2802 dated 13th
ultimo with its enclosures and to acquaint you in reply that the Honble the
Vice President in Council is pleased conditionally to sanction the acceptance
of the tender made by Messrs Joseph Bates & Co for the portion of the old
mint premises advert to, on a repairing lease for two years at a monthly rent
of 220 sicca rupees…
Letter
from Prinsep (Calcutta Mint Deputy Asay Master) to
By
virtue of the order of Government on your reference of the 18th
August, Mr Wilson the late Assay Master was permitted to “let the house
appropriated to him in the old mint premises should an opportunity for so doing
occur”. The house is accordingly at present occupied by his furniture and his
friends, but I understand that without any previous reference to the mint
officers, the whole premises have been recently let by the civil architect,
Captain Fitzgerald, to Mr Stopford, a merchant.
I
presume that there must have been some misunderstanding with respect to the
limits of the premises so let to Mr Stopford, and beg therefore to bring the
matter before your committee, that I may be informed how far I am to consider
myself authorized to act on the permission granted to Mr Wilson.