Extracts
from
F/4/347, 8152A
F/4/1016, 27849(2) & (3)
Bengal Mint Committee Proceedings. IOR P/162/69. p43
Surat Consultations, IOR
G/36/106. p. 136
Letter from
The Company
haveing ordered us to coine money for
Bombay Factory Records,
IOR G/3/1. 1672 p. 16
Meeting of Council 22nd
January 1672
The [Jugott]
of silver which was formerly ordered in Council to be employed in the mint to
make money is ordered to be disposed of by reason there is as yet no
conveniency for a mint to be settled.
Bombay Factory Records,
IOR G/3/1. 1672 p. 21
Meeting of Council 4th
February 1672
Mr Richard
Adams overseer of the mint having executed that office for above the space of
one month past
Surat Factory Records, IOR
G/36/106. 1673 p. 54
Letter from Bombay dated 1st
January 1673 (1672 in old terms)
We have sent
you per Capt Anderson several [pieces] of our new coine money which ye Honble Company
ordered us to make (Viz) thirty Anglinas, thirty copperoons & thirty
tinnys, twenty of each whereof we desire you to send for England in two ships,
ten in each ship. The remainder you may dispose of as you please among your
friends…
Bombay Factory Records,
IOR G/3/1. 1673 p. 27
Meeting of Council 7th March
1673
Ordered that
all Pice which are exported from this day off from the Island shall pay 5 per
cent customs and whoever shall export any without paying the said duty, what
pice soe taken shall be forfeited , one halfe thereof to the Honble Company and
the other halfe to the customer and informer.
Bombay Factory Records,
IOR G/3/1. 1673 p. 114
Meeting of Council 26th
November 1673
That 500
Maunds of tinn be sent for from Surat for the use of the mint in regards all
the tinn on the Island is already minted
Bombay Factory Records,
IOR G/3/1. 1673 p. 1
Meeting of Council 6th
December 1673
…taken on shore
1000 Maunds Surat Copper for the mint
2000 ditto tinn for the mint
…
Bombay Factory Records, IOR
G/3/1. 1674 p. 49
Meeting of Council 12th June
1674
[…..] by a former consultation the stamp
appointed to be made for the coyne to be minted on Bombay was ordered to have
the Companys arms with their title on one side and on the other side within the
circle Moneta Bombay Anglii Regiminis Anno 7o and without the words A Deo Pax
et incrementum, and whereas by observation we have taken notice that the
Portuguese our neighbours were not well afforded therewith because there was
nothing in the stampe relating to the King or Queen [wheresofor] in regards
that this island […] for trade and provisions with the Portuguals country and
[…] to let our money pass current in their country
That the coin to be made on this Island
of Bombay be as follows:
On the one side the Companys arms with
their title and on the other side two CC […] with a crown over them and a cross
upon the top of the crown. The two C representing the first two letters of the
names of their Majesties and without the circle A Pax Deo et incrementum and
that they be not called Anglinas as formerly but Ingresses in regards that word
is much more common with all sorts of people than Anglinas
Bombay Factory Records,
IOR G/3/1. 1674 p. 64
Meeting of Council 17th July
1674
[…..]
The President taking into consideration
that it might be justly supposed that the new coyne lately ordered to be made
will not pass in other [....], notwithstanding it is the full weight of a Surat
rupee and of the same fineness of assay in regards it does not resemble the
ordinary coins there, made a proposal to the Council for the making of another
coin (Viz) to make the silver of the same fineness and weight and in the same
form of a Surat rupee and on the one side to have stamped in the Persian
characters Charles the second King of England etc and on the other side
likewise in the same character Money of Bombay. Which proposal the President
desired the Council to consider of seriously whether it might not give any
disgust to the Moghuls or be of any prejudice to the Companys affairs.
Ordered that a stamp of the said coyne
be made and that some[…] stamped […] be sent up to the Deputy President and
Council at Surat to have [….] and in regards it is an affair of weighty
consideration to desire them seriously to consider whether it will be more
hindrance or obstruction to the Company’s trade in Surat by giving any disgust
to the Moghull
Bombay Factory Records,
IOR G/3/1. 1674, p. 97
Meeting of Council 28th
September 1674
Whereas formerly it was ordered that a
new coyne should be made stamped on the one side in Persian characters, Charles
the 2nd King of England etc, and on the other side, Money of Bombay,
some [pieces?] of which coyne were stamped here and sent up to Surat to the
Deputy President etc to have their [view] thereof, who have just advised the
President that the [said?] title of His Majesty is too low and will not be
esteemed in this country, whereupon the President proposed to the Council for
the making of a coyne stamped on one side instead of Charles the 2nd
King of England, Charles Shaw Inglestan and on the other side the same as
before, which proposal was approved of referring the same to the Honble Company
to have their orders concerning it before […] any further […] on […] the coyne
and to advise the Deputy President and Council thereof in the meantime that we
may know their opinions thereof
Bombay Factory Records,
IOR G/3/2. 1675, p. 75
Meeting of Council 24th May
1675
Ordered that Capt [Testick] deliver to
the mint one hundred chests of copper to make pice and that all ye remainder of
the copper be made into pice as soon as possible it can
Bombay Factory Records,
IOR G/3/2. 1675, p. 103
Meeting of Council 19th July
1675
That for the encouragement of strong and
able labourers that are capable to be employed in merchants business to the
number of 200, an order be issued out that they shall be paid six pice a day…
…Managee and Muckancheer, shroffs being
employed in the Comps mint to make pice, a large quantity which they made was
found to be soe light that they would not pass in the neighbouring parts,
whereas they past very current before. Which cheat hath brought upon us much
dishonour and the crime being of a very high nature it was thought convenient
to take publique notice thereof and so:
Ordered that the Attorney General for
the Comp should prosecute them by law at next sessions and that they receive
condign punishment according to the merit of their crime
Bombay Factory Records,
IOR G/3/2. 1675, p. 113
Meeting of Council 23rd July
1675
The Honble Comp having a great quantity
of pice ready made on the Island and cannot put them off by reason of the great
quantity of Surratt pice that are imported which supplys the Shroffs it is:
Ordered that noe Surratt pice shall pass
on the Island
Bombay Factory Records,
IOR G/3/2. 1677, p. 8
Meeting of Council 11th July
1677
The bugerooks being light will not pass
current in the adjacent places which is a very great loss to ye Commonality and
cause of disaffection and there being now a quantity of new buggerooks made
which are 10 per cent weighter, it was ordered:
That a proclamation be issued out to
call in all the old buggerooks and ye time appointed for ye bringing it in be
twenty days from the proclamation thereof in which time all those that bring in
olf buggerroks shall have them exchanged for new
Bombay Factory Records,
IOR G/3/2. 1677, p. 12
Meeting of Council 19th
October 1677
Mr John Jessop being [enordered] a
factour and there being great want of one to look after the mint, it was:
Ordered that ye charge of ye mint be
committed to his care
Bombay Factory Records,
IOR G/3/2. 1677, p. 21
Meeting of Council 10th
January 1677 (which I think means 1678)
The old Buggrookes being called in and
new sett out, that those brought in might not be imbezzled being in small
parcels and also a small coine it was:
Ordered that the Warehousekeeper should
melt downe all the old Buggrookes into blocks of Tynn that they be ready to
dispose of if any merchant should offer to buy Tynn, none careing to buy them
as they are
Bombay Factory Records,
IOR G/3/8. 1678, p. 59
Letter from Bombay to Surat Council
dated 4th December 1678
Notwithstanding all our endeavours we
cannot possibly make the mint that the Honble Company sent out, so serviceable
as we desire and they expect, for besides the unhandiness of these people wee
cannot make a clear impression with it but in that we will prove defective,
whole words being imperfect & blurred as well as part of the Royal Arms
Bombay Factory Records,
IOR G/3/8. 1679, p. 14
Letter from Bombay to Surat Council
dated 10th March 1679
We know not how Muddum came to be
employed in ye Honble Company’s mint but it seems he wound himself in like a
snake…
Bombay Factory Records,
IOR G/3/2. 1680, p. 63
Meeting of Council 3rd
December 1680
Having been for several months without
copper, by reason thereof no copperoons hath been coined, so that for want
thereof the soldiers have been paid in buzerooks at ye same rates, between
which coins the difference being 3 Fedeas in a X[erafin] which is a loss to the
soldiers and of which they have made complaint att [seberal?] payments, and we
having in several letters advised the President and Council of the great want
we were in of copper, and the great prejudice the Honble Company would receive
if we were not supplied, and none as yet being sent us, it was concluded to
prevent any disturbance that might arise by paying the soldiers in Bazarookes
that Copperoons should be bought at as cheape rate as possible in which though
there will be a loss, yet not so considerable a loss as if they should once be
paid all in silver or gold, they having been paif hitherto the one half of
their pay in gold or silver att the bazarr rate which is twenty five Fadeas and
the other half in copper att twenty one Fadeas, and therefoere should they once
be paid their full pay in gold or silver at the rate above mentioned there
would be noe likelihood of reducing itt againe as itt is now. Therefore it was
unanimously conclded more to the Company’s interest to buy Duoonees or Copperoons
so long as they were procurable.
Bombay Factory Records,
IOR G/3/7. 1674, p. 11
Letter from Bombay to London, dated 16th
December 1674
…We hoped you would have given us some
positive instructions touching ye setting of a mint for gold and silver on
Bombay, without which we cannot proceed. We have had several debates and
arguments concerning another sort of stamp, under a Persian character, which we
hope in time will pass as well as rupees and without loss or vattao [batta?] on
ye maine, but it being an affair of noe mean concerne wee concluded to suspend our further
proceeding & discourse thereon till we were strengthened with more
sufficient power from you. Of tin we have been totally in want for making of
buzrooks. As for copper pice, the merchants have imported some from Surratt
& have minted some copper brought from Surratt & from the Bantam ships,
whereby the island hath been supplied with small change, but we hope we shall
hereafter be better furnished with your own English [blank] & copper from
ye South Seas which wil turne you some reasonable profit.
Bombay Factory Records,
IOR G/3/7. 1674, p. 27
Letter from Bombay to Surat, dated 23rd
December 1674
The President takes notice what you write
concerning supplying you with part of the copper, as to that he replies that he
would willingly have done it but for our market here exceeds yours at least 3
or 4 rupees per maund for we mint all our copper here [….] all charges of
mintage etc deducted amounts to above 21 Rups per maund, and the President is
apt to think copper at Surratt will not sell (in regard of the great quantity
the Dutch have brought) above 18 rupees per maund. Besides we desire you to
consider that there is coming in the Golden Fleece & Rainbow 1500 chests
more of copper which we have taking all or most part of it on shoare here for
the mint, for our pice do not only pass current in in Sevagees country, but in
all the portugals country…
Bombay Factory Records,
IOR G/3/7. 1675, p. 54
Letter from Bombay to Surat, dated 18th
January 1675
…Ye mint for gold & silver also
[when] well settled will turne to some advantage but wee cannot proceed therein
without further positive order from you. Ye copper & tinn coin goes current
in these parts but that of copper of far greater expense [than] ye tinn and it
will be a constant addition to your revenue. If you please to give order that
we be yearly supplied with Japan copper from Bantam where if it be cheap bought
it will turne to a reasonable profit in your mint, but copper sent from Europe
being very deare & chargeable to be cut into small bars, will not turne to
account.
Bombay Factory Records,
IOR G/3/7. 1675, p. 105
Letter from Bombay to Surat, dated 20th
March 1675
Your Japan copper and tin taken on shore
here out of your ships Falcon and Mary is all disposed of in your mint to good
profit and if we had double the quantity it would yearly vend, for the copper
and tinne made here doe pass current in all these places in soe much that if the
Golden Fleece and Rainbow doe not arrive in May we shall be in great want of
the said commodities for expense of your mint which in time wee doubt not will
give a good addition to your revenues especially if the mint of gold and silver
were settled as it ought to be. Touching which we expect your Honble further
directions.
Bombay Factory Records,
IOR G/3/7. 1675, p. 158
Letter from Bombay to Surat, dated 4th
November 1675
When the Unicorn arrives we shall take
out to ye amount of 40,000 Rups & coin it taking care ye stamp be perfect.
Bombay Factory Records,
IOR G/3/7. 1676, p. 4
Letter from Bombay to Surat, dated 31st
December 1675
Wee have sent up by Capt Norgrave 24
Rupees, 12 of one sort of a new stamp & 9 of ye other & 3 of ye old and
desire to know which of the 3 you best approve of. That of ye PAX A DEO in ye
middle is most likt here. That with MONITA BOMBAYS hath to many letters on it
for ye middle which makes it not look so well as [they] think, we must be
forced to coyne two thousand to pay our souldiers this pay day which we think
to be that of PAX A DEO. If not approved of they are quickly called in & if
carried off of ye Island, trouble will be saved. Ye pice are of ye old stamp.
Ye bugorooks are 10 per cent weighter then the former as will appear by those
[…]ones sent, being 90 now which weigh as much as ye 100 old. This was ordered
by consultation before His Honr went off.
Bombay Factory Records,
IOR G/3/7. 1676, p. 55
Letter from Bombay to Surat, dated 21st
August 1676
We have taken on shore 329 copper plates
which will be sufficient to keep your mint employed with [w…], there being loss
in making ye plates into diganoos and therefore would not take to great a
quantity of tinn. We have a great quantity by us
Bombay Factory Records,
IOR G/3/7. 1676, p. 60
Letter from Bombay to Surat, dated 22nd
September 1676
Our Chief Coyner is run away having
stolen an other mans wife so [yet] we have nobody who knows how to coin. Please
to send us down one other as last or we shall be put to great straights.
Bombay Factory Records,
IOR G/3/7. 1676, p. 65
Letter from Bombay to Surat, dated 1st
November 1676
… & most tedious coiners to make us
money, [so] we again desire ye speedy finding a coiner.
Bombay Factory Records,
IOR G/3/5. 3rd February, 1697
Consultation
There being a great quantity of copper
on ye Island to be sold at 16 rupees per maund, which is a very low price, we
did agree that about 46 [cwt?] should be bought on the Right Honble Company’s account
to be made into pice, by which they would be considerable gainers.
Bombay Factory Records,
IOR G/3/5. 26th March, 1697
Consultation
The copper that was bought for account
of our Rt Honble the master ye 3rd February last being made all into
pice and there being 37 [cwt] more on this Island to be sold at 18 rupees per
maund, it was agreed that it should be bought and immediately delivered ye
mintmen to coyne to make into pice
Bombay Factory Records,
IOR G/3/5. 29th June, 1698
Consultation
We having been at sundry times advised
that the Moghul and his Ministers very strictly resented our coining rupees
with Persian characters, esteeming it an [encroachment] on said King’s
prerogative and the President and Council having now as well as formerly wrote
us to the same effect, we did write them that we had not coined any this last
18 months and that we would coin no more with such characters, and accordingly
resolved that when we did coin any then it should be with ye lattin inscription
with which rupees were formerly coined [……..] and we also order new stamps
should be made ready for ye purpose.
Bombay Factory Records,
IOR G/3/5. 7th October, 1703
Consultation
…having ordered as much of her copper to
be landed & sold here as was vendible immediately at Rs 16 per maund Surat
& not […]. But ye price being not procurable, & there being at present
very few pice on ye Island & it appearing by ye books that ye Company were
considerable gainers by when last coined, It was agreed to take two hundred
chests of said copper on shore to be coined into pice.
g/3/5 completed
G/3/4 completed – contains report of the
piratical attack on the ships (Sept 1695). This led to the suppression of the
minting of Persian style coins
g/3/3 completed
Letters despatched from Bombay to Surat
Bombay
Factory Records. IOR g/3/9
25th March 1680
The copper that we had for the use of
the mint is now almost spent. We do therefore desire that you would be pleased
to supply us with 300 chests of Japan copper which is much fit for our use as
plate and the charge of minting it much lesser, and if we have it not to keep a
mint going, that we may have some sort of money to pay our soldiers…
7th September 1680
… we would have taken one hundred plates
of copper out of the ships but on enquiring find that there is none on board.
It was the great want we are in that was of […] have not any copper coin on the
Island, but are forced to make use of bazarookes, which are not so current a
coin not so satisfactory as the other. Therefore pray supply us with copper as
soon as possible, but in a little time it will prove a very great prejudice to
the Honble Comp in payments, which we desire to prevent.
17th September 1680
…we are in great want of copper…
25th October 1680
We have often thought to have wrote you
about the mint. The settlement made by your orders of 1 rupee per maund of
copper for coinage is so large that since it has been, not any has been brought
into the mint house to coyne as formerly, and indeed we have thoroughly
examined and find it will not be to the advantage of any to coyne copper here,
so that the Honble Compy loses by this what they formerly got; and the Island
prejudices in the customs etc, which we humbly beg you will consider of and
reduce it to the former duty of 1 la [larin?] per maund of copper, which in our
judgement will be to the advantage of the Honble Company.
November 27th 1680
A maund Surat copper makes 1205 Duganees
which passes here on the maine at 42 to the Xerafin is ye money Xf 28
2
Out of which is to be deducted:
Customs for the copper at 3 ½ per cent
accounting ot to cost 17 rupees per maund
Surat money is of […] money being 12
[,..] Xf 25 1
The prime cost of a maund of copper will
come […] Xf1
Duty to the Company for minting Xf
1 1
Copper Smith’s labour Xf 1
1
3 2
Xf25
12th October 1681
Upon writing about lowering the order of
one rupee per maund to the Hon Company for coining copper, we have discoursed
so largely in ours of the [benefits], that it’s needless to say anything more
here. You will there find what benefit the Honble Company may really get by
coining copper. Formerly they had a greater gain because their soldier’s pay
was paid in dugganees at 30 to the Xerafin but now that is over, caused by
their orders this year; and now 150 chests of copper will not be sufficient to
supply our mint. Without the gains by coining it may persuade you to send a
larger quantity.
Bombay
Factory Records. IOR g/3/10.
Letter from Gayer & Weldon at Bombay
to Samuel Annesley, President at Surat, dated 12th July 1694
We take notice of what you write about
the loss on silver in coining by Assay men. We mean such as [re]fine the silver
ready for coining, but do not thuink it fit for you to acquaint the Government
in this affair, especially considering what you say that he was angry when he
saw some of our rupees.
Bombay
Factory Records. IOR g/3/10.
Letter from Gayer at Bombay to Samuel
Annesley, dated 16th November 1694
The mintmen altho’ nice have had no
satisfactory trial of them for want of the melting man you discharged, we have
[ di… in order … return] hoping you will take the necessary care to receive of
them what you shall think fit to be returned of the charges
g/3/10a – Nothing here
Bombay
Factory Records. IOR G/3/11. Book 2, no page numbers
Letter from Bombay to Madras dated 18th
April 1695
We send you by conveighance 6 of the
rupees we coin here desiring by the first conveighance you’ll send us the same
number of your coins. Also the charge of your mint and what you loose or gain
on the invoice of your silver now coined, also what you are allowed percentage
for coinage when you coin for other persons & how your rupees pass in the
Moghul’s country.
g/3/12
g/3/13
g/3/14
g/3/15
g/3/16
g/3/17
g/3/18
Letters Received at Bombay
g/3/20 – 1694, p.3, Contains a reference
to a mint at Rajahmaul. Seems to be in a letter from Madras
Bombay
Factory Records. IOR G/3/20, Book 1, p. 21
Letter from Surat to Bombay, dated 3rd
July 1694
I have got two jurobs for the mint at
Bombay and two Chucksees am in hopes of. They ask unreasonable considerations
to go but I expect to bring them to more moderate terms and send them with what
haste I can.
Bombay
Factory Records. IOR G/3/20, Book 1, p. 29
Letter from Surat to Bombay, dated 10th
July 1694
I have got 2 jurobs & one Chucksee
for the mint but at such extravagant rates that I shall not entertain them
‘till Your Excellency’s answer. The Chocksee demands 300 rupees a year there.
He can have 150 or 200. The jerabs demand 8 rupees a month when there is no
business and 6 per mill on all they coin. In the [jankjall] they have 5 per
mill. They want the charges [down] & liberty to return if they like not the
place and all charges of fire etc in the mint is to be provided them.
Bombay
Factory Records. IOR G/3/20, Book 2, p. 11
Letter from Surat to Bombay, dated 9th
August 1694
The workmen of the mint being so dear,
the Pr wrote to Cambay to get four from thence and yesterday had an answer. Two
Choksees at 20 rupees per month. Two jurabs are to be allowed their way charges
to Bombay, their diet there at 6 rupees per month & 4½ per mill on all they
coin. This being far cheaper then we can have them from Surat, Vittal Parracks
hath wrote to the Cambay broker to send with all expedition to us.
Bombay
Factory Records. IOR G/3/20, Book 3, p. 38
Letter from Surat to Bombay, dated 13th
October 1694
This serves only to accompany two
Choksees & two Jurobs from Cambay for your mint, which were procured with
much difficulty. We refer for their wages to the enclosed list. We shall write
to Your Excellency the needful by an express which will be a numbler
conveyance.
Bombay
Factory Records. IOR G/3/20, Book 3, p. 58
Letter from Surat to Bombay, dated 6th
November 1694
The Cambay broker is in a great deal of
trouble from that Governor for sending the Choksees and Duraps to Bombay to
coin in our mint and have forced him to give security for their return. He has
sent two expresses to us. Inclosed is our broker’s letter concerning this.
However, we desire to be referred.
Bombay
Factory Records. IOR G/3/20, Book 3, p. 75
Letter from Surat to Bombay, dated 26th
November 1694
We have not seen the mintmen as yet
& shall endeavour the Rt Hon Co. be as little charged o their account as
maybe. The Governor at Cambay has already [ffleeced?] our broker there about
them.
g/3/21
g/3/22
g/3/23
g/3/24
g/3/25
g.3/26
g/3/27
g/3/28
g/3/29
g/3/30
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Bombay Public
Consultations,
And that Wm Aislabie and who else with
him in the Treasury, open any chest or chests of coyn’d silver whether Spanish
Dollars, French Crownes, Duccatoones or Ryx Dollars carefully casting up the
full cost, true value and weight of each specie – to be stampt in figures upon
every piece great or small the best method we can at present – effectually
supplying a valuable incourageing Coin to Trade to be taken in all paymts
if not defac’t, till obtain authority coyning rupees, to be laid in Council
before any stamp or issues be made by the Treasury.
Bombay Public
Consultations,
Wm Aislabie and who else with him in the
treasury pursuant to a resolution of Councl the 5th
instant laying before Councl the true value, Spanish dollars, French
crowns, Duccattoons or Ryx Dollars cast up as invoyct out of Eng:- 73 [?] p
ounce at 2 [?] 3[?] each rupee makes a dollar of 17½ [?] wt amount to 2 Ru 24
pi and 1 ounce troy 2 R 48 pi intended by said consultation to be
proportionably stampt upon each of said species as appears more or less in
weight, supplying the present payments till coinage of rupees can be obtained.
Resolved and unanimously agreed that Wm
Aislabie Esq. and who else with him in the treasury, carefully have stampt one
chest or more as the exigency of affairs may now or hereafter require, foreign
bullion supplying paymts to the Garrison and otherwise, Spanish
Dollars, French Crownes, Duccatoones or Ryx Dollars or lesser denomination of
said coynes have stampt in English figures 2R 48p, true cost to be esteemed the
value for one ounce of silver in said coynes and so in proport’ more or less as
each peece shall weigh. To be issued out of the treasury for all payments [Gentl]
that shall be directed in Councl whither to ye Garrison officers and
soldiers &c:-
[Wth ] said species so stampt
if not deminisht in weight shall be recd in all payments made into
the Public Treasury of this castle but not otherwise whereby the Compy
will save not being carried into the Mogulls country 3½ p Ct custome
from 40 to [90] days time rebate besides the loss as the coynes appears more or
less in fineness will all amount to at least fourteen p. Cent
…what defects if any shall casually
appear in the currency of said foreigne silver coin stampt 2R 48p p ounce till
a stamp can be obtained coyning rupees to be continued as the said proffitt or
loss may appear to ye Company wch the treasury is hereby monthly
directed laying before the Gentl and Councl wth
the wet what silver coyn stampt and copper pice coyned as aforesaid.
Bombay Public
Consultations, IOR P/341/2 p174,
And that until the Court of Managers
shall be advised sending out tin the product of England, there be purchased at
least 20 Pecull Siam or [Mallian] tinn as soone as any offers for sale,
supplying coinage of said budgerooks useful and beneficial to the inhabitants
and poorer sort of this island [for] buying provisions and other things
Bombay Public
Consultations, IOR P/341/2 p174,
Some of the Tiled shedds wth
in the fort remote from the powder bastions to be made use of for said purpose
[i.e. minting silver and copper coins] till a proper and convent
place for such work can be made within the House of the Fort
Bombay Public
Consultations, IOR P/341/3
Nothing found
1710 reference to Buzerooks passing at 14 to the
pice
…Agreed that the warehousekeeper deliver
forty B’bay maunds of tinn to the coppersmiths to make into Budgerooks.
That four chests of treasure be
delivered the Goldsmiths for coinage into rupees for the supply of our treasury
Our Rupees coined att Bombay being by
said Phirmaund to Pass Currant in all the Mogulls Dominions in the Same Manner
as those coined by his Govr if Stampt with his Stamp brought on a
Debate concerning the Title therein given him which Runne Thus
[pictures of obv and rev with
translation of Persian legends]
The Question being putt whether wee
should condescend thereto, Since it Insinuates the Jurisdiction not only of
this Island but the whole world to belong to him and thereby Derogates from the
Honr of our Nation as well as all others, after some time spent in
the Debate tho’ our Complying to Impress those Characters on our Coins may not
be so much to the Credit of the English Nation & Rt Honble Compa
as we desired or could wish; yett the following reasons being Offered were
Unanimously approved.
First it has been the Practice of the
Emperours of India to take upon them that Stile and Title and whatever European
Nation addresses him, must flatter that Prince therewith or Loose their Suit.
Secondly, the benefitt that is likely to
accrue from the case in Dispute is very considerable.
Thirdly the Presidt and Councell att
Fort St George have already shewn us the way in the Stamp of their Rupees, and
Allumgeer Pagodas.
Fourthly and Lastly there is no other
Prospect of procuring the Currency of our Rups so that rather than Loose this
Advantigious Part of our Grant it is Unanimously Resolved that the Rupees we
Coin for the future be Stampt with the words above mentioned, and that we Deferr
Settling what shall be paid by private Persons for Coinage till wee do see that
our Rupees do pass currently.
The Govr being out of Town
ordered the Secretary to advise the Gentll of the Council that for
replenishing the Treasury which att present is very low and also to gett rid of
Tinn in the Warehouse there being no vent for it, he would Coin it into
Duccanees, with their consent the Secretary Gave Notice thereof to them this
Day and they assenting the Presidt ordered that said Tinn be delred
out for coining accordingly the Secretary to Prepare a Proclamation for the
Dicanees passing Currt on the Island which being Drawn out was this
day Published.
The President represents to the Board
that there is about forty thousand rupees of tin pice on the island that he
finds twenty thousand sufficient to answer the occasions thereon so that there
remains continually in the treasury from fifteen to twenty thousand dead stock
& therefore offers it as his opinion for the interest of our Hon’ble
masters that it be run down into bars convenient for sale.
Which being debated and considered that
the rate at which the pice is now current is about sixteen rupees the maund
Surat, the running of them will be [asuming tho’] no real loss to our Hon’ble
employers and whereas that commodity in all probability will be at a higher
rate the next season than it has been for some years past it is the unanimous
opinion of the Board that such a quantity of said pice as shall be found
unnecessary be run down into proper bars for sale which is hereby directed to
be done accordingly.
The President informed the Board that
one Gunsett a native of Goa and Goldsmith who lately came hither offering to
work up the Companys silver fifty per chest more to their advantage then the
present undertaker (Ragusett) does it, he had directed a chest of Pillar
Dollars to be delivered to each of them to be worked up in the mint under the
inspection of Mr Thomas Yeomans the mint master from whose accot of
the produce of each now laid before us – there actually appears fourteen rupees
two quarters & sixty Raes from that worked up by the Goa Goldsmith than
from Ragusett, Mr Yeomans farther relation thereof as follows.
Honble Sir
In obedience to your Honours commands I
delivered to Gunsett, goldsmith one chest Pillar Dollars [Wt] two
Hundred & Ninety Pounds Eight ounces that I received by your Honrs
orders from the Hon’ble Companys treasury & had it carefully coined in the
mint & likewise delivered one chest of Pillar Dollars to Ragoosett
goldsmith [Wt] two hundred & ninety pounds eight ounces that were coined in
the mint at the same time. The former produced rupees (when the lead, copper
and slag were saved and brought to account) eight thousand seven hundred fifty
six one quarter & forty Raes, from which deduct for sundry charges rupees
one hundred and four (rupees) three quarters and it leaves neat rupees eight
thousand six hundred fifty one, three quarters & forty Raes and as this
Gunsett doth make appear by the Accot herewith delivered your Honr a
greater produce than Ragoosett, the Honble Companys former worker in this
employ & I make the calculate from that which is the most profit to my
Hon’ble masters and is [xxxx].
Rups qrs R
For each hundred ounces of Pillar
Dollars 248 18
Each hundred ounces of Mexico Dollars 245 3 32½
Each hundred ounces of Duccatoons 250 3
Each hundred ounces of French crowns 245 87
Tis well known to your Honour that
Ragoosett Goldsmith has for some years coined the Hon’ble Company’s foreign
silver & hath paid into their treasury for each hundred ounces of
duccatoons Rupees two hundred and forty nine two quarters forty eight raes and
a half, ditto Pillar Dollars rupees two hundred and forty six two quarters and
fifty raes, ditto Mexico Dollars rupees two hundred forty four three quarters
& fifteen raes and a half, ditto French crowns rupees two hundred forty
four & seventy one raes & is a difference in each per cent Duccatoons
forty five decimals, in Mexico Dollars four hundred and twenty four, in Pillar
Dollars fifty seven in French crowns four hundred twenty four – which is humbly
presented to your Honour
etc
etc
Ragusett & Gunsett being then called
in and interegated whereon Ragusett accused the other of using some unfair
practice which in some measure he seems to prove on him, by Mr Yeomans allowing
thereof, that in his lead which holds the silver there was about double the
quantity when separated as there ought to be & could be no otherwise as
they averr but by throwing in some silver unobserved by them amongst his
charcoal – to this Gunsett had little more to reply then that they should then
have detected him.
Ragoosett being ordered to withdraw the
Goa Goldsmith was required to inform the Board what security he could give for
a post of so much trust, replys he will give security for whatever we would
entrust him with, which the President informs the Board he had promised him for
five months past but had not yet brought any tho’ he had sometimes offered
those who when called for had refused it.
The Board therefore gives him to this
day se’enight for bringing his security for our acceptance & then he
withdrew.
Mr Thomas Yeomans being further asked
his opinion of this person declares he does not think him equal to the office
& will be very much confused in working up different sorts of silver which
he has already experienced in some lately come from Persia wherein he did show
himself much at a loss and adds that when we are in haste for coining of our
silver on the arrival of our ships he will not be able to give that dispatch
that Ragoosett has done, recommending therefore if Ragoosett can be brought to
give the price for the several species as per his calculate, from the produce
of the chest of silver worked up by the Goa Goldsmith that he be continued in
the employ.
Ragoosett is again called in and the
President bid him remember that when he gave him the business from Mr Yeomans
he did engage him to make the silver yield the utmost to the Hon’ble Company at
the same time telling him that he did not desire otherwise but to leave him a
moderate sufficiency for his trouble which he himself allowed twenty five
rupees per chest was enough whereas it now appeared that he has gained more
then sixty. He makes excuse of lowering his workmens wages by degrees and buying
his other necessaries much cheaper than formerly, but that he has at times mett
with a great many [bass] Dollars among the
Being then told he is an old servant
tho’ herein we have found tardy we were nevertheless willing to continue him in
the business provided he would pay in according to the calculate made from the
produce of the chest of silver worked up by the Goa Goldsmith to which replying
that he could not do it without a great loss accruing to himself the Board
insisted thereon and gave him ‘till this day se’enight to give his final
answer, he thereupon withdrew and the Board adjourned.
The competitors for the coining of the
Hon’ble Companys silver attending pursuant to our resolution on Friday last,
Gunsett the Goa Goldsmith is called upon to produce his security who naming
Ponda Sinay – He is thereupon called in and interrogated if he would be
security for this persons faithful discharge of the trust, to which he replies
he is so far willing as to make a tryal of twenty five chests of silver and
according as he finds he complys in coining of them he will continue to engage
for him for more, that is, he will see the Ballac of the same paid
into the treasury that the Hon’ble Company be no loosers but as to any other
frauds that business may be liable to he has not to say which Mr Yeomans the
Mint Master must look after.
The which taking into consideration that
this persons having charge of our mint altho’ under the inspection of Mr Thomas
Yeomans ‘tis possible he may unknown to him coin private silver of baser alloy
& thereby bring discredit upon it, & if detected thereof is he of any
substance to make [reparation] nor can he find security to be liable for any
such fraud.
The board is therefore of the opinion
that if Ragusett can be brought to give according to the calculate from what
the silver produced by Gunsett that the [business] be continued in him. He
being thereupon called in does at last agree rather than loose the same to give
as follows:
|
|
|
|
Rs |
qrs |
rs |
|
‘For
100 |
ounces
of |
Pillar
Dollars |
248 |
0 |
18 |
|
100 |
do |
|
245 |
3 |
32
½ |
|
100 |
do |
Duccatoons |
250 |
3 |
0 |
|
100 |
do |
French
Crowns |
245 |
1 |
11 |
|
100 |
do |
Old
Sevil Dollars |
249 |
0 |
61 |
|
100 |
do |
Crusadoes |
244 |
0 |
68 |
|
100 |
do |
|
230 |
1 |
31 |
|
100 |
do |
Lion
Dollars |
198 |
0 |
86 |
|
100 |
do |
German
Crowns |
232 |
2 |
17 |
&
in proportion for any other silver but requests if he shall hereafter make appear
to this Board that thro’ any accident he cannot be able to pay in at the above
prices that then we will relieve him according as we find reasonable.
And
the President informing the Board that he had one hundred & twenty eight
rupees surplus on three chests of treasure coined by Gunsett it is agreed that
it be returned to him as a reward.
The mintmaster, his account of coinage
of the Hon’ble Companys silver last month where in chest No. 629 it appears
that the bag No 2515 said to be Pillar Dollars is found to contain the
following species [Wgt]
lb. Oz.
Pillar
Dollars 49 1
&
German Crowns 16 10
French Crowns 5 2
_________ lb. Oz
72 8
which being a mixture of coins of baser
alloy occasions a loss to the Hon’ble Company of Rupees thirty one quarter
ninety four Raes & a half.
Resolved to give our Hon’ble Masters
Acco’t thereof in our next advices’
…The President lays before the Board the
mintmasters acct of the Honble Company’s bullion coin’d in the mint this
present year ending the 18th instant amounting to rupees six hundred
and eighty six thousand one hundred and twenty three, two quarters, fifty one
Raes which is received into the treasury and on examination found to balance
the acct of silver consigned this Presidency.
In said acct it is observed that rupees
one thousand nine hundred and seventy three made into twelfths for Anjengo
settlement and sent thither in March last, are two per cent worse than rupee
matt and fifths of rupee now coining for Tellicherry three per cent worse which
is thus explained by the President: that he had direcxted the former to be made
two per cent worse, one percent to provide for the extra charge of coinage of
that small money and one percent is gained to the Honble Company. The other he
directed to be 3 persent worse, half per cent to defray the extra charge of the
workmanship and two and a half percent for an equivalent to the Honble Company
for their passing at Tellicherry as fanams when rupees are exchanged at five
one eighth fanams and sometimes more, which the Board approves of.
The President observes to the Board that
thro’ our tinn duccanees being made currant in the Portuguese country, there
has been lately a considerable decrease in the Bank gain in the monthly
exchange of them, but as a conveniency will hereby offer of getting rid of a
good quantity of those Docanees & more so by lowering still their value.
The President observes to the Board that
thro’ out tinn duccanees being made currant in the Portuguese country there has
been lately a considerable decrease in the bank gains on the monthly exchnage
of them, but as a conveniency will hereby offer of getting rid of a good
quantity of those ducannees & more so, by lowering still their value,
whereby we may introduce their passing currant the copper Goz we have rece’d
from Persia at seventy two to the rupee, which will be more than equivalent to
answer for the loss that will accrue by lowering the value of the former, as
the said Goz will yield about thirty per cent profit.Besides that we may expect
on them the like gain by exchange as was before made by the other.
Which being agreed to as the President
shall find most convenient. It is ordered that the warehousekeeper issues out
to the bank what copper shall be thought necessary for that use to be stampt
anew at twenty rupees and half per
The President acquaints the Board that
he has been informed of late considerable quantity of old Punch’d rupees have
been brot upon this island from the neighbouring places of a less
weight and baser alloy than those of Surat & our own mint, which are paid
away to the shroffs and shopkeepers at disco’t and by them passed again at
parr, to the great abuse of the publick & discouragement of trade in
general. To prevent which in future he proposes the issuing out his
proclamation forbidding and prohibiting all persons whatever to receive or pay
any old Punch’d rupees except those coin’d here under penalty of forfeiting the
same after 20th of this month, but that they bring them into the
mint to be anew coined, which is agreed to
In obedience to the 39th para
of our Honble Masters’ commands last received by the Mary, that for the future
the officers, soldiers and sailors in the military and marine shall be paid as
their covenanted servants in silver. Directed that the land and marine
paymasters do accordingly pay them in silver or pice, at the rate of eighty
pice for one silver rupee and that there may be no objection to this exchange,
it is agreed that for the future eighty pice shall be received into the Honble
Company’s treasury, the custom House cash, the warehouse and the general
stores, as a rupee.
Directed that a publication be issued to
this purpose that all inhabitants may be apprized thereof, to take place from
the first of April.
Whereas a considerable quantity of
silver rupees of different coins and alloys are brought to this island from the
inland provinces, of an inferior value to the standard of Bombay and Surat
rupees and the same bought up by the shroffs and other people at an
unreasonable discount and sometimes at par to the great prejudice and
discouragement of trade in general and that this pernicious practice has been
carried on with impunity notwithstanding a publication issued by order of this
board under the date 14th February 1728/29 to prevent the evil
tendency of which it is agreed that a publication be forthwith issued enforcing
the observance of our former under the following penalty, namely that all
persons whatever inhabitants of this island who have in their possession any
number of rupees above ten of any other coin or alloy besides those of Surat
and Bombay shall in ten days after the issuing of the said publication bring
the said rupees to the Hon’ble Company’s mint where due attendance shall be
given to receive and exchange them for their real value discounting only one p.
cent for their recoinage and all persons not duly observing this publication
shall forfeit all such sum or sums of foreign rupees as shall be found in their
custody ten days after the issuing thereof, one third to be paid to the
informer and two thirds to the Hon’ble Company, but all strangers who shall
bring the foreign rupees hither and are not willing to exchange the same in the
mint but desire to export them again shall in three days after their first
arrival declare to the Custommaster for the time being the quantity they desire
to export and it is hereby expressly prohibited that any rupee but those of
Surat and Bombay shall be tendered or received in payment as current coin under
the same penalty to be incur’d by the tenderer or receiver.
Directed that a publication to the
[tenure] of this resolution be immediately issued in English, Portuguese and
Gentue languages, and that it be added that proper persons are appointed at the
land pay office to exchange silver rupees for pice at the rate of eighty pice
for a rupee.
The purshaser of the Honble Company’s
copper having been allowed to coin ten maunds in order to ascertain the mint
charges & to know how much more he could afford to give the Honble Company
for permission to coin a quantity. The President acquaints the Board that the
mint undertakers had delivered him an account coinage of ten maunds whereby the
charges appear to be rupees three per maund as follows:
|
|
Rupees |
|
Waste in melting or running the copper into small bars,
two seers per maund |
1,0,00 |
|
Earthenfire places and pots |
0,0,50 |
|
Workmanship per maund |
1,0,50 |
|
Cutting stamps and stamping |
0,0,60 |
|
Charcoal, three baskets used to one maund of copper, at
five baskets per rupee |
0,2,40 |
|
|
|
|
Charges per maund |
3,0,00 |
The purchaser
being then called in and asked what he is willing to give (besides paying the
chargefor the liberty of coinage he makes an offer of one rupee per Surat
maund, which, the Board refusing, he at length offers one rupee and half per
Surat maund, declaring it to be the most he can give.
The Board
debating thereupon it is observed that our giving permission for coining said
copper here would occasion some trouble and dispute with the Surat Governor as
it would be depriving him of so much of his revenue, besides that we have not
people enough here nor would others care to come without being certain of a
constant employ. We therefore don’t think proper to grant the permission
requested but agreed that we represent the case to the Honble Company that if
they think it worthwhile to hazard a dispute with the Surat Governor (which we
believe would only be for one year) for the profit they may reap by coining the
copper here they may give us and our orders accordingly; and we must observe we
are informed a considerable quantity even seven or eight thousand maunds per
annum may be sold and coined here if they are pleased to give permission…
The siad mint
undertakers attending are called in and promises not only to keep up to the due
fineness of the rupees they coin (of fifteen pennyweights at least better than
standard) but also to pay the amount of the silver delivered them to coin in
thirty days time, unless the quantity be too large, when they must be allowed a
proportionable number of days reckoning that the most they can coin in one
month is eight chests of silver. They are also ordered to clear off the amount
of their bond immediately; which they promise to comply with as fast as they
can. When representing their great loss and praying us to consider the same,
they are told that farther than giving up the interest we cannot relieve them
but that we will recommend their case to our Honble Masters favourable
consideration. When the mint undertakers withdrew.
It appears to
us that these people have actually been considerable suffers by coining the
silver at the old rates from 1727 to 1734 and the President acknowledges that
Governor (Corvan?) told him he had promised to allow the minters the difference
that should arise by coining the silver per (Heathcote?) at the old rates,
amounting to rupees three thousand five hundred thirteen, three quarters and
thirty five reas. If no other people could make appear that the silver produced
more than the mint undertakers demanded, which said promise Mr George Dudley
(the then mintmaster) was witness to; and as Mr Davis thinks that one per cent
is not an unreasonable allowance for waste on burning, we are of opinion the
undertakers cannot make such an advantage by their employ as is suggested in
the accomptants remarks received from England. However we don’t thnk proper to
grant then any relief as to those parts of their petition but submit the same
to the fianl determination of the Honble the Court of Directors.
There is then a
long petition from Muckundsett Padamsett & Luxamonsett Ragousett about how
they lose money over this. It’s supported by various assays from the assay
master, William Davies
The answer of Muckensett Padamsett &
Luckmansett Ragousett, undertakers of the mint of
A Bombay rupee was formerly reckoned to
weigh seven pennyweights ten grains & one fifth but by experiment often
& accurately made, we are now convinced that they do actually weigh one
with another full seven pennyweights ten grains three hundred and fourteen
decimals which is nearest to the Surat standard of thirty [xx] & fifty six
decimals or a Bombay Tola. Mr Davis the assay master in his assay reports made
[hither] last month says they came out upon an average of six or seven
different weighings of several different numbers, seven pennyweights ten grains
& three fifths & that he found them in fineness fifteen pennyweights
better than English standard which is only fourteen grains two fifths less then
they ought to be, a difference so inconsiderable that the best assay masters in
England cannot we conceive alwaysascertain it. And if Mr Edlines assays vary
one pennyweight from the Tower assays as we observe they do in one place, &
half a pennyweight in others, it is not to be expected but that we country
goldsmiths (who are destitute of the proper instruments & materials to work
with) should err one pennyweight more, & indeed the best of us here do not
scruple to own that we cannot prevent a difference happening sometimes of a
quarter per cent either way in the fineness of our rupees because in melting a
large quantity of silver together (as we must do in coining) an extraordinary
heat of fire too long continued under the furnace with a greater weight of lead
to refine it than what is absolutely necessary, will occasion some loss, which
cannot always be prevented and if it may at any time have happened that rupees
have been issed out of the mint baser or less in weight than what we are
obliged to coin (which we presume cannot be laid to our charge, no complaint
having ever been made of it by those amongst whom they have been dispersed) the
publick siffer by such a piece of knavery & not the Honble Companyas the
remarks would endeavour to make it appear. But as there is now an assay master
kept here at the Honble Company’s charge he will be able to prevent any fraud
or abuse of that kind & we are very desirous that he should overlook and
inspect us as narrowly & often as he pleases.
The species of foreign silver chiefly
brought into our mint for the Hinble Company are Mexico & Pillar Dollars
the quantity of other sorts being very inconsiderable & of these only we
perceive assays have been made at the Tower. The Mexico is there said to come
out by four trials of different sorts in an average two pennyweights six
hundred and twenty five decimals worse than standard, & the Pillar dated in
the year 1728 is found to be exactly English Standard & that dated 1729 a
half pennyweight better than standard English. Now for the readier calculation
& because our rupees standard is (according to this counry way of
reckoning) 99 touch, that is to say 99/100 parts of fine silver or 1/100 part
alloy – we shall bring the Mexico Dollars to the like touch & those being 2
dwt 625 dec worse than English Standard will be found equal to touch 91 .. 4.
Then if 100 ozs (or Tolas 269 .. 188 dec allowing 7d 10grs 314dec to the tola)
of
The weight remaining will be 248 ,, 515
Dedust the mint charges & loss by
waste @ two percent 4
,, 97
243
,, 545
We deliver for 100 ozs
Loss to us the undertakers in every 100
ozs .025
Pillar dollars being found in the year
1728 to be just English standard or 92.5 touch, one hundred ounces of that
specie by the same rules being reduced into rupee touch
The weight remaining will be 251 ,, 514
Deduct 2 per cent as above 5 ,,
03
We deliver for old Pillar Dollars to the
year 1728 246 ,, 484
Because we esteem them better than
English Standard 247 ,, 3475
Loss to us if they are not better than
standard .8635
So that unless the new Mexico Dollars
which are by far the most material species proper to be taken notice of do
actually come up to the touch or fineness above mentioned we the undertakers
must demonstrably suffer and we are so far from thinking we reap any advantages
by our own agreement that we are not only willing but desirous of quiting the employment.
Bombay Public
Consultations, IOR P/341/12 Saturday
The present scarcity of copper on the
place having induced the people of the neighbouring countries to convey away
the tin pice made of that metal, it is proposed to coin a parcel of tutenague
ones to be of such weight as to reserve a profit to our Honble Masters of
twenty per cent. Which is agreed to and ordered that the mint master do out of
hand coin to the amount of two hundred rupees
In consequence of the order passed for
coining tutenague pice the 7th February last, the President had
purchased from [Rupjee Dunjee] two hundred twenty seven Surat maunds and twenty
six seer at seven rupees and a half per md which amounted to rupees
seventeen hundred and seven, one quarter and 88 raes, and produced rupees two
thousand two hundred seven and an half, from the same person, another parcel of
five hundred Surat maund at six rupees and ten annas per maund; But as these were
not sufficient for the current service of the place, he had promised a further
quantity of five hundred Surat maunds at the like rate from the [Cursettjee]
which being the cheapest rates that commodity could be purchased upon. The
Board approved thereof the account. Produce of the last parcels cannot now be
ascertained as the mint people have not as yet coined the same.
‘An account [of the] coinage of the
several parcels of tutenague into pice being presented, we have the
satisfaction to observe a neat gain of rupees 3841.1.57 accrued to our Honble
Masters in this transaction’.
Comformable to our Honble Masters
directions in their letter of
Mr William Davis who was [sent out in
quality] of Assay Master by our Honble Masters having hitherto delayed any
report of his trials for refining silver notwithstanding, the several utensils
by him required from England have been received by the Royal Guardian. The
secretary is directed to remind him of this particular and that we expect
satisfactory account of the progress made in ascertaining the precise standard
for rupees and making them in a speedier manner than our people have hitherto
found out.
Read a letter (as entered hereafter)
from Mr. William Davis, Assay Master, in answer to our queries in consultation
of 8th August, which not being yet esteemed fully clear, the
consideration thereof is deferred ‘till another time. But the mill proposed to
be erected we will endeavour to get done when we are apprized of the expense,
which must be calculated. Mr. Davis being then called in, the following
question was put to him Vizt can you by any methods you can devise coin the
Company’s silver to more advantage than the present minters do, and will you
undertake the same? He declares that he can do not more than he has already.
Nor will he undertake the coinage, or does he know anyone that will.
The humble petition of Muckansett
Padamsett & Luckmanset Ragousett Undertakers to the mint.
That whereas your petitioners in the
month of June 1735 did set forth to the then President John Horne’ Esq. Etc etc – They still hadn’t been paid and the
decision was deferred to sometime later so that Mr Davis the Assay Master could
examine the accounts.
The matter of the mint contractors was
discussed and deferred to a future occasion. There are letters from Mr. Davis
the Assay Master and a letter from George Dudley, one time Mint Master, who warns
that no one other than the complainants could undertake the coinage.
Bombay Public
Consultations, IOR P/341/12, p362,
Council again considered the mint
contractor’s petition but felt that they needed to direct specific questions to
the Assay Master. These are listed:
Council the 30th ultimo
having perused the several papers given in by the mint undertakers, as also the
Assay Master’s remarks, are of the opinion that they are spun out to
considerable length yet they are not conclusive to the points in dispute and
therefore it will be necessary for him to give an explicit plain answer to, to
which we may the better be enabled to come to an equitable determination, which
the secretary is ordered to do by letter, and to the following purport
1.
what
is the real difference between the new and old
2.
Supposing
that the new are worse than the old, whether the difference demanded by the
mint undertakers in their account now sent to you under 30th June
1735 ought to be paid them, or what part thereof. That is admitting the
quantity of
3.
That
as the mint undertakers do pretend the allowance given them for waste of one
per cent and charges of coinage one per cent more, does not answer, you must
again examine by a farther tryal in melting a chest how the same will turn out
according to the methods which the minters pursue.
4.
You
are moreover to make experiments in your own way if possible how the like
quantity of silver will turn out; and if practicable bring the minters into the
use of your own method, provided it should render the coinage more advantageous
to the Company.
5.
You
are to point out whatever may prove serviceable in regard to the coinage in any
respect, knowing first whether the minters can or will execute any proposals
you shall make; remembering that amusing us with what cannot be reduced to
practice will answer no end.
6.
Advise
what value you do imagine will remain in the sweeps on the experiment you make
of a chest of money as directed under the 3rd head.
Bombay Public
Consultations, IOR P/341/15, 1746.
Nothing found
Bombay Public
Consultations, IOR P/341/15, 1747.
Nothing found
Bombay Public
Consultations, IOR P/341/15,
It
being found there are false pice made of tutenague to a considerable extent on
this island which are daily passed in payment to the prejudice of the
inhabitants in Genl but more particularly of the poorer sort,
resolved that a publication be made requiring all persons who may be possessed
of such pice to bring them to the Ho Company’s mint within fifteen
days where it is agreed that they will be taken on the Honble Company’s account
according to the value of the mettle such false pice are composed and be paid
for out of the treasury accordingly. But any person or persons shall after the
expiration of these fifteen days, attempt to pass such false pice in payment or
be found possessed of any such, the same will be forfeited, one half to the
informer and the other half as this Board shall think reasonable to dispose of.
It
being considered on this occasion that pice made of copper from a good die
which can be cut in a neat manner by an European here would be less liable to
counterfeit by these country people than the pice that have been heretofore
coined on this Island, it is agreed that two hundred and twenty Surat maunds of
the old copper received per Drake Ketch be accordingly delivered to the mint
for being coined into pice, valuing it at about rupees twenty eight one
quarter, sixty four reas (28.1.64) per Surat maund, which, exclusive of the
charge of coinage, will yield a profit of Rs 29.136 per cent to the honble
Company as appears by the following calculation:
…
‘This day was issued in the usual manner
the publication concerning false pice comformable to our resolution in
consultation the 23rd instant’.
The present undertakers of the mint
continuing their base practice of having a large sum constantly in the sweeps
to the Honble Company’s detriment, and from indolence or incapacity are not
able to coin the silver brought hither unless assisted from the treasury or by
the merchants with large transfer bills which by good fortune happened last
year, else the mint had been brought to discredit. It is therefore proposed to
give the management to Ransorett Luckmansett, Ragousett Bhensett, Ransorrett
Isimbucksett of fair characters and capable of the business, who have also a
set of able assistants, but as these, nor no other goldsmiths in Bombay can
give the necessary security the following regulations will obviate the
difficulty by leaving them no power to defraud the Honble Company or the
merchants.
The Mint Master to have an Englishman as
his deputy, who will be constantly in the mint when no silver can be carried in
or out without his knowledge. This person to be paid by the President and the
Mint Master.
The Mint to be secured with two locks ,
one key to be kept by the managers, the other by the Mint Master and never to
be opened or shut but when he or his deputy are present.
All bullion to be carried every evening
from the mint to the fort and deposited in a chest under the joint charge of
the Mint Master and managers.
The dies in like manner to be carried
there every night. All receipts of silver into the mint and payments from
thence to be reported as usual to the Mint Master and also undersugned by his
deputy.
And that the rupees may be kept up to
their due fineness it will be the Mint Masters care that the rupees are
frequently assayed.
As these methods duly observed will
certainly prevent embezzlements which answers the intent of any security that
can be given, the Board unanimously agrees thereto.
And the new undertakers being
accordingly called in were made acquainted therewith who asserting to the same
the terms of the contract to be entered into with them was explained to them as
follows:
That the present rates of silver be allowed
and which as contained in the consultations
|
|
|
|
Rs |
qrs |
rs |
|
‘For
100 |
ounces
of |
Pillar
Dollars |
248 |
0 |
18 |
|
100 |
do |
|
245 |
3 |
32
½ |
|
100 |
do |
Duccatoons |
250 |
3 |
0 |
|
100 |
do |
French
Crowns |
245 |
1 |
11 |
|
100 |
do |
Old
Sevil Dollars |
249 |
0 |
61 |
|
100 |
do |
Crusadoes |
244 |
0 |
68 |
|
100 |
do |
|
230 |
1 |
31 |
|
100 |
do |
Lion
Dollars |
198 |
0 |
86 |
|
100 |
do |
German
Crowns |
232 |
2 |
17 |
And all other sorts of silver to be
adjusted agreeable to their real value.
That they have always in store
woodashes, charcoal, tamarine, earthen utensils etc sufficient to dispatch the
coinage of twelve lack of rupees & if the mint business stops for want of
any of these articles, they shall forfeit such a sum as the Governor and
Council shall direct provided they are not impeded by a warr and other
unavoidable actions [unread words].
The rupee to be an exact Tola in weight
or 7 dwt. 11 gra. and in fineness 14½ dwt. Better than English standard.
As the mint can employ [x] workmen they
shall procure and be assisted to procure this number and when completed they
shall be obliged to keep them in constant pay and not discharge them [as] the
present practice & if its proved they do, they shall be subject to such
penalty as the Governor and Council may judge necessary to inflict.
The managers and their assistants be
obliged to give constant attendance at the mint unless prevented by sickness
during the time that silver dwells there or forfeit their contract.
That there may be no sweeps in the mint,
they shall upon first coinage deliver in a calculate of what they find will
remain in a lack of rupees or a less sum, & if on a trial its found just,
to agree a time for payment which if they exceed interest to be allowed by
them.
So long as these undertakers observe the
terms of their contract, the Governor and Council to engage that the management
be continued to them or either of them.
As there will be no sweeps & they
obliged to keep a number of workmen in pay that theretofore the Honble Company
allows them to have lead from their stores at the same rate as the former mint
undertakers which is six rupees per pucca maund, and they deliver a calculate
of what a lack of rupees may require and must be done after the first coinage.
Bombay Public
Consultations, IOR P/341/16, p.75, March 10th 1748.
…Being in want of treasure for the Coast
factories as also for the new Surat investment, and having no rupees in the
treasury but such as have been chopt or puncht in several of the Country
Governments, altho’ they pass current in this place, but which will not pass
either at Surat or Bengall without a considerable loss, nor on the Malabar
Coast without a loss of at least six per cent, and as it is found that can be
rectified by running thro’ the fire and stamping anew, which can be done for
about half per cent, the loss in weight by wear being found by first duly
weighing them to be so inconsiderable as not to deserve notice, it is therefore
agreed that all the chopt rupees in the [
] Company’s treasury be delivered into the mint for being so rectified.
Bombay Public
Consultations, IOR P/341/17, p. 13, December 1749.
An entry showing that Ransorsett
Luckmansett & mint undertakers received in part of silver delivered them to
be coined the 22nd ult 10,000 Rs
Then another 10,000 and then another
Bombay Public
Consultations, IOR P/341/17, p. 47, January 1750.
Similar entries showing silver delivered
to the mint
This is found in most month’s accounts
Bombay Public
Consultations, IOR P/341/18, p. 134, 2nd April 1751.
There being a quantity of chopt and
uncurrent rupees in the treasury, which will not pass but at a great discount,
and we shall shortly be in want of a sum of new money to send to the coast
settlements – Ordered that they ne new stampt in like manner as has been done
the two preceding years, being the method by which the Hon Company sustains
only a loss of little more than half per cent.
Bombay Public
Consultations, IOR P/341/18, p. 440, 29th October 1751.
The President acquaints the Board that
some people are very desirous of coining copper pice, stamping them in our
mint. As this will increase the Honble Company’s revenue and be a means of
raising the price of copper (which is now a falling commodity) considerably, as
that which comes from Europe is chiefly used for this purpose, it is assented
to.
Bombay Public
Consultations, IOR P/341/18, p. 113, 10th March 1752.
As we shall be in want of money for
sending to the Coast and Bengall and having a number of old uncurrent rupees in
the treasury – resolved that orders be issued to the mint undertaker for new
stamping with the utmost expedition.
Bombay Public
Consultations, IOR P/341/19, p. 241 25th July 1753.
Mr John Spencer, mint master, presents a
letter to the Board setting forth the
incapacity & inattention of the present undertakers, which if not timely
remedied may be not only very prejudicial to the Honble Company’s revenue, but
productive of a great loss of trade to the Island by diverting the large
quantity of silver that annually comes hither, to other channels.
Which, being taken into consideration
and recorse had to the Consultations of the 25th March 1748, it
appears that the principle view in admitting the present undertakers was to
prevent a large balance remaining under the denomination of sweeps, which they
engaged to perform, but it appears by the above letter that they have been so
far complying with their agreement, that the balance of sweeps is now Rups
101,382 – 57, which with the frequent complaints of the Honble Company of late
years, of the weight and standard of the rupees, it is resolved that the
present undertakers be removed and Rangajee Ramsett & Kensowjee Rumsett,
offering proposals more advantageous to the Honble Company & [those]
concerned in the mint than any hitherto offered, and being satisfied they they
are persons of sufficient capital and experience in this branch of business, it
is resolved to accept their proposals, and as the Mint Master represents that
Ransot Luckmonsett, one of the present managers, to be a person who has a great
influence over the under-workmen, resolved that he be likewise admitted and
directed the Secretary draw out a contract accordingly.
Bombay Public
Consultations, IOR P/341/19, p. 61 19th February 1754.
Read, a letter from Mr John Spencer,
mint master, setting forth that the island is in great want of pice but that
the present very high price of copper would make them turn out to the
disadvantage of the Honble Company were they to be made of that article. That
Toothenague is now cheaper than it has been for many years past and that
1000@1500 Surat maunds will supply the necessity of the place.
Resolved that this quantity be purchased
on the most reasonable terms, and as we are persuaded that it will be for the
Honble Company’s advantage to make it on their own account, allowing the
minters something for their trouble, directed that order be issued to the mint
master accordingly.
Bombay Public
Consultations, IOR P/341/19, p. 111 16th April 1754.
Read a letter from Mr John Spencer, mint
master, setting forth that there are several lacks of Bombay chopt rupees in
the treasury which, though current here and in the countrys (sic) adjacent will
not pass either on the Malabar Coast or in Bengall and therefore he proposes
recoining them, as the whole expense, allowing for the deficiency in weight
will not exceed three quarters per cent. Which being taken into consideration,
it is unanimously resolved for the reasons set forth in said letter, that the
chopt rupees in the treasury be immediately issued to the mint in order to be
recoined.
Bombay Public
Consultations, IOR P/341/20, 1755-56.
Nothing found
Bombay Public
Consultations, IOR P/341/21, 1757 p. 249.
The poorer sort of our inhabitants
complaining of the want of small money. Agreed that the Mint Master be ordered
to get the value of ten thousand (10,000) rupees coined into hald and quarter
(1/2 & 1/4) pice
Bombay Public
Consultations, IOR P/341/22, 1759. P. 317
Ramgajee Ramsett, one of the managers of
the mint, being called before us & made acquainted with our Honble Master’s
late comments regarding the contract, declares his readiness to continue in the
management, agreeable thereto,the secretary is therefore directed to alter the
contract accordingly by giving Ramsor Luckmonsett an equal share of the
management and advantages and placing his name first, who attending, is also
informed of this regulation in his favour, and we understanding that Rangajee
Ramsett is possessed of a penaly bond wherebt Ramsor Luckmansett engaged to
relinquish all his advantages accruing from the mint in consideration of an
annual allowance of seven hundred (700) rupees, Rangajee Ramsett is ordered
(and accordingly agrees) to deliver it up to the secretary in order for its
being cancelled. They are then both informed of our Honble Masters complaints
regarding the silver being short in fineness and a large sum being continued in
the sweeps and on being strictly ordered to prevent the like in future, they
promise to faithfully comply therewith and to have the sweeps now remaining
clear by the last of July next.
Bombay Public
Consultations, IOR P/341/22, 1759. p. 326
Read a foul (sic) draft of the contract
with Ransar Luckmonsett, Rangojee Ramsett and Kensowjee Ramsett for undertaking
the management of the mint agreeable to out Honble Masters late commands, which
being approved ordered to be fair transcribed in order for its being executed.
Letter to Bombay from Surat,
dated
Bombay Public
Consultations, IOR P/341/23, 1760. p. 239
Not having any new rupees in the
treasury, ordered that the best of the current rupees be washed to send to the
Coast Settlements.
Bombay Public
Consultations, IOR P/341/23, 1760. p. 483
Being extremely bare of new rupees and
as we shall want a number very early for the service of the Coast Settlements,
ordered that a lack (100,000) be new stamped for that purpose.
Bombay Public
Consultations, IOR P/341/24, 1761 p. 161.
Rangajee & Kensowjee Ramset to be
removed from their business as undertakers to the mint & Ranoor Luckmonseth
jointly with Visoramsett and Mucondsett Savajee to be fixed therein on
Vittuldass Kesondass being security for the two latter, agreeable to our Hon
Masters commands, but Rangajee Ramsett etc, present undertakers, must be
allowed a reasonable time or clearing their sweeps.
Bombay Public
Consultations, IOR P/341/24, 1761 p. 243.
Ordered that one and a half lack
(150,000) rupees be restamped to be sent to Tellicherry by the first conveyance
Bombay Public Consultations,
IOR P/341/25, 1762. p. 264. 11th May 1762
An examination of the treasure received
by out Honble Master’s ship Royal Captain from Gombroon being now laid before
us, ordered that the Nadarees be delivered into the mint to be coined & the
merchants offering to take the other coins at the following rates, the same are
ordered to be issued to them as we want to realize them and cannot expect at
present to dispose of them on better terms.
Nadir Shaw Gold Rupees at 13 Rs 4 An
Venetians at 4 Rs 11 ½ @ 12 [not sure
what this means
Muhammad Shaw Rupees 4 per cent discount
Bombay Public
Consultations, IOR P/341/25, 1762. p. 495. 7th September 1762
The Old Mint Undertakers having a
balance of toothenague on their hands, and learning that it bears a better price
at Surat than at this place, ordered that it be sent thither by the Royal
Admiral accordingly.
Bombay Public
Consultations, IOR P/341/26, 1763.
Nothing found
Bombay Public
Consultations, IOR P/341/27, 1764, p 689. 13th November 1764
Being in want of Persian rupees to make
fanams, and some offering at 5 per cent discount, ordered that they be
purchased accordingly.
Bombay Public
Consultations, IOR P/341/28, 1765. p. 464. 30th July 1765
The great scarcity of silver which has
prevailed for a considerable time past on the island, being attended with many
inconveniences and a very great prejudice to the trade of the place, the
establishing a gold currency has been thought of and the minters have delivered
in a calculate of one accordingly, the same is ordered to follow this
consultation, and to be sent round to the several members for their inspection
before next meeting.
The calculation is shown on page 470
along with a number of footnotes amongst which are:
…4th As the making this
intended coin is a new trial, we desire you will be pleased to order to be
delivered to us 300 Venetians to know whether it will turn out agreeable to the
above calculate or not, also to fix the exact weight of each piece.
5th That you will inform them
in what manner they are to be stamped etc.
6th We offer, if the above
calculate is not approved of, to make a gold coin that shall pass current for
15 rupees and to weigh 38 Vols pure gold so that 100 Venetins full weight
(after having been heated) shall deliver 30 gold coins amounting to rupees 450,
and stand to all our own charges, and the coinage duty. We also propose to make
this coin halves and quarters for the greater convenience of the inhabitants of
this place.
Bombay Public
Consultations, IOR P/341/28, 1765. p. 471. 31th July 1765
Agreeable to yesterday’s resolution of
Council, the calculate of gold coins was sent round to the several members for
their inspection, when the majority concurring in thinking it better to await
the arrival of the Mocha Ships, as gold will probably then be cheaper, the same
was determined on.
Bombay Public
Consultations, IOR P/341/28, 1765. p. 651. 5th November 1765
Read a report assay of the rupee
received per Royal Admiral from Surat as entered hereafter by which we are glad
to perceive they are of a better standard than those before assayed.
Bombay Public
Consultations, IOR P/341/28, 1765. p. 651. 5th November 1765
Resuming the consideration of the
propriety of establishing a gold coin to pass current on the Island it is
remarked that this seems the proper juncture for carrying the same into
execution as gold is now very cheap.
Resolved therefore that a gold coin to
contain exactly 38 vols of pure Venetian gold be established and to pass
current for fifteen rupees, which the mint master is accordingly ordered to
make, also halves and quarters of the same with the Honble Company’s arms on
one side & Bombay with the year on the other.
That to the amount of 60,000 rupees to
be made of this coin for the present as a trial & should it be found to
answer more may be made hereafter & as from the present low price of gold
the Honble Company will gain considerably by this coin it must at all times be
changed at the Treasury whenever tendered for that purpose.
Bombay Public
Consultations, IOR P/341/29, 1766. p. 27. 8th January 1766
This day a publication was issued
signifying to the inhabitants the establishment of the gold coin and enjoining
them to receive the same at the rate of fifteen rupees each and halves and
quarters the same
Bombay Public
Consultations, IOR P/341/29, 1766. p. 501. 2nd September 1766
Some counterfeit gold coins having been
lately circulated in the bazaar, it is resolved in order as much as possible to
prevent their currency to issue a publication requiring all persons whatever
possessed of gold rupees to deliver in the same to the Treasury within eight
days that they may be shroffed and carefully inspected before they are issued
out again.
Bombay Public
Consultations, IOR P/341/29, 1766. p. 252. 14th April 1766
Read a petition from two of the brothers
of Ransor Luckmonsett, one of the Mint Undertakers deceased, desiring that his
share of the mint may be transferred to them, which is agreed to.
The petition of application is on p. 256
Bombay Public
Consultations, IOR P/341/29, 1766. p. 336. 17th June 1766
Wittuldass Kelsondass who was security
for the due performance of the Mint Undertaker’s contract, being dead, they
have been called upon for another security in his stead, and have offered his
nephew until the return of the widow & to mortgage their estates, which it
is agreed to accept.
Bombay Public
Consultations, IOR P/341/30, 1767. p. 422. 30th June 1767
The President acquaints the Board that
there is reason to believe the prices given for silver by the present mint
undertakers are much too low, a reputable Banian, well versed in the business,
having offered to give three (3) rupees per hundred ounces more on new German
crowns (in which the greatest part of the silver now imported is brought) and one
(1) rupee per hundred ounces on all other silver.
Resolved, as our Honble Masters in their
commands of 25th April 1760 seem to intend that the present Mint
Undertakers should have the preference, that it be offered to them at our next
meeting on these terms, and if they do not chuse to accept them, that it be
given to the person who has offered them as it will make a very material
difference to the trade of this place by encouraging all Merchants to coin
their money here in preference to carrying it elsewhere, which money will all
circulate in the place and will not only increase our Honble Masters’ coinage
duty but the customs also by increased sale of goods.
Bombay Public
Consultations, IOR P/341/30, 1767. p. 424. 2nd July 1767
The Mint Undertakers now attending
agreeable to our resolution last council last are informed of the terms which
had been offered for carrying on the business of the mint and asked if they
chuse to accept of it upon the same, which though repeated pressed to as well
as jointly as separately, and assured of our inclination to give them the
preference agreeable to the Honble Company’s orders, and told that in the event
it weould in all probability be rather an advantage to them than otherwise, by
the increased quantity of silver which would be brought to the place, they
unanimously decline, in consequence of which the merchant who offered the terms
mentioned in last consultation by name, Bucon Surdass Shroff is called in and
asked what security he will give for the due performance of his contract, when
he declares he cannot immediately give a general security as the shroffs and
others may not chuse to become his surities, merely that they may not appear to
be in any shape instrumental in depriving the present undertakers of their employment,
but that in a few days after being established, he will give ample security and
in the meantime will give sufficient security for any sum he may receive to
coin. Resolved therefore that he be entrusted with the management of the mint
and an order be issued to the Mint Master accordingly. We are still further
induced to this measure by Ransor Luckmonsett and Muccond Savajee, two of the
late undertakers being both dead, the one a man of substance and the other a
man of capacity and by the present undertakers being deprived of their security
by the death of Wittledass Kelsondass. They must be however allowed till the
end of this month to clear any sweeps there may be, though from the small
quantity of silver lately coined we do not suppose there are any.
Bombay Public
Consultations, IOR P/341/30, 1767. p. 301. 28th April 1767
Great abuses having lately been
experienced by the petty shroffs refusing to receive rupees in the Buzar, the
principle merchants and shroffs were called upon to give their opinions what
rupees should pass current, when they declared no objections should be made to
any Bombay rupees whatever whether cracked, broken, chopped with holes or
otherwise, provided that each rupee was within one Gunge of full weight (100
gunge making a rupee) nor to any Mamud Shaw and Amud Shaw Surat rupees whether
broad ones cracked or are even chopped or with holes on the rim, provided they
are not chopped or have holes on the facing and are full weight.
The secretary is therefore directed to
issue a publication enquiring that all such rupees as are mentioned above are
received and do pass current at the full value of eighty pice per rupee.
Bombay Public
Consultations, IOR P/341/31, 1768. p. 443. 26th July 1768
Read, a letter as entered hereafter,
from the Mint Master representing that Bhocondass Sordass, the present Mint
Undertaker, having suffered greatly from the prices he engaged to, and did give
last year for all silver delivered into the mint to be coined, he hopes we will
take his case into consideration and accepted of two rupees and one half per
one hundred ounces of German crowns, and half a rupee per one hundred ounces of
all other silver, more than was given by the former managers, and which is half
a rupee per hundred ounces or nearly ninety reas per one hundred rupees less
than he gave last season, which being taken into account accordingly, It ios
observed that our Honble Masters seem desirous of giving the former managers
Sivajee’s and Luckmonsett’s sons the preference to all others, and it therefore
becomes our duty to appize them of these offers, and give them the option of
accepting the management of the mint upon the same terms They are therefore now
sent for and offered the management accordingly, but which they unanimously
decline, declaring they cannot possibly support themselves and families upon
the advantages they should derive from it at that rate. Resolved therefore, as
no one will undertake it upon better terms, that those now offered by
Bhocondass Sordass be accepted, to commence the 1st of next month
and continue till the 31st day of December 1770.
Bombay Public
Consultations, IOR P/341/31, 1768. p. 445. 26th July 1768
The letter from the mint master includes
a list of the different silver coins and the prices paid by the mint undertaker
the list is as follows:
English Crowns
French ditto
German or Hungarian ditto (coined before
1750)
New ditto (coined since 1750)
Old Piller Dollars (coined before 1726)
New ditto (coined since 1726)
Old Mexico ditto (coined before 1726)
New ditto (coined since 1726)
New Phillip (the round, new milled
ditto)
Telatas and Piccasters
Lyon Dollars
Rezeens
Pistereens
Goa Pardoes
Nadarees fine
Ducatoons
Rose Dollars
Mamoodys
New Abassees
Old ditto
Crusadoes
Rix Dollars
Bombay Public
Consultations, IOR P/341/32, 1769. p. 661. 29th September 1769
The Warehousekeeper reports that he can
purchase about 30 to 40 tons of Cowries at ther following prices, which, being the
cheapest procurable, he is ordered to receive them accordingly, and to lade
fifteen tone on the Deptford and the like quantity on the Speaker.
Patta Cowries Rs 25 per Surat Candy
Maldive ditto RS 60 ditto
Joanna ditto Rs 20 ditto
Bombay Public Consultations,
IOR P/341/32, 1769. p. 569. 5th July 1769
There being a great scarcity of pice on
the Island, Ordered that Tuthenague to the amount of twenty thousand (20,000)
rupees to be purchased and coined into pice at its present price of eight (8)
rupees per Surat maund.
Bombay Public
Consultations, IOR P/341/33, 1770. p. 517. 26th October 1770
The Warehousekeeper reports that he can
procure Cowries at twenty eight (28) rupees per candy, the broken shells and
stones to be taken out, but the dead shells accepted. None being to be got on
more reasonable terms, he is ordered to purchase them accordingly.
Bombay Public
Consultations, IOR P/341/33, 1770. p. 330. 3rd July 1770
It being more advantageous to coin than
sell the gold in the treasury, the President acquaints the Board that having
heard, and being himself of opinion, that the stamp which the Bombay Gold
Rupees coined in 1765, viz. that of the Honble Company’s small seal on one
side, is highly improper, as none but sovereigns have the right to affix any stamp
on public coin, he proposes that those now to be coined should instead thereof
bear the same inscription in Persian characters on one side as the silver
rupees now do on both, and which their superior breadth will admit, the Honble
Company’s privilege of coining here being derived solely from the Moghul; and
on the reverse the words ‘BOMBAY 1770’, similar to those of 1765, with the
addition in figures of their current value. He would propose that these should
in every respect bear the same stamp of each side as the silver, and which the
gold formerly coined in this mint ever did, but those being much superior in
the standard to them of 1765, the last being intended solely to preserve a
currency on the island, he thinks the above distinction will not be improper to
prevent the credit of our mint suffering if coined [at] the place. And further
that as neither those at present current, nor those now proposed, can with any
sort of propriety be called gold rupees, from their differing so much in
standard and value, he proposes they should in future bear the name ‘BOMBAYS’
and be stamped as follows, all which the Board concur in, and it is ordered to
be carried into execution accordingly
1 side Persian characters, Allumgueer Padshaw Gawsee 1183
Hegeyra
and 9th of His Reigne
2 sode English characters BOMBAY
1770
________
15
Rupees
Bombay Public
Consultations, IOR P/341/34, 1771. pp. 86 & 88.11th February
1771
Read likewise a letter from the Mint
Master advising of the death of the late Mint Undertaker. Ordered the Mint
Master to settle his accounts and recover whatever balance may appear due, that
publications be issued advising proposal for a new contract will be received on
the 28th of this month. In the interim the business must be carried
on by the sons of the late contractor.
Letter from the Mint Master to
Government dated 6th February 1771
This is to acquaint you that Boocondass
Soordass the Mint Undertaker died the 30th
ultimo. His contract expired the 31st December last, of which I duly
informed the Secretary shortly after. The business is for the present carried
on by the late minters son.
Bombay Public
Consultations, IOR P/341/34, 1771. p. 176. 19th March 1771
An offer being made us of Tuthanague to
the amount of Rs 30,000 at 7/4 per maund for bills on Europe, it is agreed the
same be accepted as it will be a means of assisting us with so much currency
& the Company gain about 15 per cent in coining the same into pice.
Bombay Public
Consultations, IOR P/341/34, 1771. p. 231.2nd April 1771
The sons of the late Mint Undertaker
offering to carry on the business on the same terms as their father & to
give the like security, it is agreed to as no other offers have been made us in
consequence of the publick notice we gave for that purpose, but a clause must
be added, that provided they do not deliver the monay coined within 20 days
after the receipt of the bullion, they must pay interest thereon, which they on
their part accept, & at the same time offering to pay 4000 rupees within
seven days out of the remains of the sweeps, & the then remaining balance
by 31st July next, which we also agree to.
Bombay Public
Consultations, IOR P/341/36, 1771. p. 1308. 17th December 1771
Also a letter from the Mint Master,
entered hereafter, enclosing a report of 42 Surat rupees by which it appears
the rupees of Surat are about 2 ½ per cent worse than the Bombay standard.
Bombay Public
Consultations, IOR P/341/36, 1771. p. 1313. 17th December 1771
Letter from John Church (Mint Master)
Enclosed is a report assay of 42 Surat
Rupees taken promiscuously out of the two parcels lately received from thence.
They turn out on a medium 23 rice less, and are Rs 2.5183 per cent worse than
Bombay standard.
Bombay Public
Consultations, IOR P/341/38, 1772. pp. 845. 6th October 1772
On this head. Read a letter from the
Military Paymaster in respect to the exchange on pice, which is daily rising,
enclosing one to him from the Brigadier General on the subject, &
requesting the directions of the Board. As the exchange of silver and vice
versa was limited by a publication in the year 1757 to half a pice per rupee
which if duly observed will effectually put a stop to the evil complained of.
It is therefore resolved that it be republished & the most punctual
observance of ot required under proper penalties.
Bombay Public
Consultations, IOR P/341/39, 1773. pp. 231.29th March 1773
The Contract for carrying on the mint
business expiring the 2nd of the ensuing month, Ordered that the
Secretary issues public notices that we will receive proposals for a new
contract.
Bombay Public
Consultations, IOR P/341/39, 1773. pp. 264. 6th April 1773
Opened two proposals for undertaking the
business of the mint, delivered in consequence of the notice that was [issued].
The proposal of the present contractor is the same as the terms of their last
contract, and in the other there is no material difference. It is therefore
agreed that the contract be renewed to the present undertakers, against whom we
have never had any complaints, provided they give the security they did before.
Bombay Public
Consultations, IOR P/341/39, 1773. pp. 663. 21st September 1773
Notwithstanding the publication that was
issued last year limiting the exchange to be taken on tutenague pice into
silver to half a pice in a rupee which before then was very high and much
complained of, yet the same has proved totally ineffectual, as the exchange is
actually higher than before being about ten per cent on exchanging pice into
silver, which is a great loss and detriment to the soldiers, sepoys and
labourers who are chiefly paid in pice, as well as to the poor in general. The
means for putting a stop thereto are therefore taken into consideration, when
it is answered that from the very low price toothanague has been for some time
past and from the vast quantity of pice upon the island we have reason to
conclude that great numbers must be made on the other side and brought over
hither. It is therefore resolved for putting a stop at present to the many
inconveniences attending the same that a proclamation be issued tomorrow crying
down the value of pice from 80 to 100 for every rupee commencing from the
moment it is published, but as even then toothenague may be made into pice to
great advantage by persons on the other side, as we suppose has been hitherto
practiced, it is further resolved and agreed that all pice that may be coined
in future shall be of copper and one hundred to a rupee, and that they be of
such a weight as just to answer the value of copper, with the expence, and from
henceforward no Toothenague pice will be coined in our mint.
Bombay Public
Consultations, IOR P/341/39, 1773. pp. 682.5th October 1773
Great numbers of complaints are daily
made that toothenague pice do not pass current in the Bazar, since our
proclamation reducing them in value, which upon consideration we are of opinion
may in a great measure be owing to pice not being received from all persons in
payments made into our treasury. It is therefore agreed in order to remedy the
many inconveniences complained of, that from henceforward in all sums tendered
at the Treasury, one half will be accepted in pice, if desired, provided the
pice so tendered be of the Company’s Coinage. But as we are convinced from the
vast quantity of Pice on the Island that great numbers must have been coined
surreptitiously, which must have turned out to the great advantage of those who
have coined them, toothenague for a long time past having been at a very low
price and we understand that this surreptitious pice are easily distinguishable
from those of the Company, it is resolved, in order to put a stop to this
pernicious and unlawful practice of coining pice as well as to remedy evil
[subsisting] by the quantity that has been already coined, that all pice
present for payment at the Treasury of the surreptitious coinage shall be
instantly cut in two and forfeited to the Company fro which purpose the
necessary minters and shroffs must attend at the Treasury, who shall be
answerable for the receipt of any not coined by the Company, and the assistant
to the Treasurer must always be present in the Treasury that no favour or
affection may be shewn to anyone.
But as we are convinced that the only
effectual means of putting a stop to all those complaints regarding pice, is to
call in those made of Tutenague, and to coin such a quantity of copper pice as
will be sufficient for the currency of the place.
Resolved that to the amount of 20,000
rupees of copper be coined into pice as soon as possible, a proportionable
quantity of which must be in halves and quarters, and when the same are ready
to be issued, the toothenague pice coined by the Compamny will be called in and
all others rendered uncurrent.
Bombay Public
Consultations, IOR P/341/39, 1773. pp. 694. 6th October 1773
A Proclamation
Whereas it has been represented to the
Honble the President and Council that inconveniences do arise to the trade of
this place and particularly to the lower sort of people because pice are not
freely accepted in payments made into the Honble Company’s Treasury, the Honble
President and Council aforesaid, in order effecually to put a stop thereto do
hereby declare that from henceforward so far as one half of the amount of all
sums paid into the Treasury will be accepted in pice, if desired, provided
always that the pice so tendered be of the Honble Company’s, but as there are
many pice now on the Island that have been coined surreptitiously, which are
easily distinguished from those coined by the Honble Company, it is therefore
further declared that proper persons are order to attend at the Treasury for
examining all pice that are offered in payment, and should any be found not of
the Company’s coinage, orders are given for their being [directed] cut in two,
and they shall be forfeit to the Company.
Bombay Public
Consultations, IOR P/341/39, 1773. pp. 839. 26th November 1773
As the amount of from ten to twelve
thousand rupees of the copper pice are now coined. Resolved that they be issued
from the Treasury on the first of the ensuing month of December. Against that
time that a proclamation must be prepared noticing that the same are to pass
current and declaring all toothenague pice uncurrent from that time. All
Toothenague pice that are of the Company’s coinage and may be brought into
their Treasury on or before the 31st of the ensuing month of
December will be received on their account and we shall hereafter determine how
to dispose of them.
Bombay Public
Consultations, IOR P/341/39, 1773. pp. 849. 30th November 1773
At sunset this evening the following
proclamation was made publick by beat of drum all over this town and fixed in
the necessary languages at the usual places. It was also made publick at the
same time at Mahim and other places
The proclamation states what is above.
Bombay Public
Consultations, IOR P/341/40, 1774. p. 277. 1st April 1774
As we are now in immediate want of
money, not only for our current expenses but also to discharge the bills drawn
from Onere, which are now due, Resolved that all the toothnague oice which have
been called in and are now in the Treasury, be sold at public outcry for the
most they will fetch, the outcry to be made by Messrs Fletcher & Garden who
are now approved a committee for that purpose & the amount to be aid as the
pice are taken away.
Bombay Public
Consultations, IOR P/341/40, 1774. p. 298. 13th April 1774
The Committee appointed to sell the
Tuthnague pice called into the Treasury, report that they met for that purpose
on the day appointed, but that notwithstanding due notice was given of the
intended sale no purchasers whatever attended. Ordered that they fix on another
day for the sale, when they must endeavour to dispose of it.
Bombay Public
Consultations, IOR P/341/40, 1774. p. 345. 3rd May 1774
The Committee appointed to sell the
Tuthenague pice that had been called into the Treasury, report to the Board
that they again met to endeavour to dispose of them but that no person would be
induced to offer more for them that three rupees & ten annas per Surat
maund, which being so very low, they did not think themselves authorised to
sell them at such a rate. The great scarcity of money was assigned as the
reason for this very low offer.
Bombay Public
Consultations, IOR P/341/40, 1774. p. 344. 3rd May 1774
The contract for carrying on the
business of the mint being expired, ordered that notices be issued that we will
receive proposals for a new contract within 14 days from this date
Bombay Public
Consultations, IOR P/341/40, 1774. p. 354. 17th May 1774
Opened a proposal for carrying on the
business of the mint, being the only one that has been delivered in consequence
of the notices that were affixed, which proposal is found to be from the
undertakers of last year, & the conditions they propose the same except
that they desire it may be for three years certain instead of one, which
particular however, it is agreed not to comply with, but that their proposal be
accepted for one year only as usual & the secretary is ordered to execute a
contract accordingly.
Bombay Public
Consultations, IOR P/341/40, 1774. p. 357. 17th May 1774
Letter from Balmuckoondass Buckandass
and Goverdondass Buckondass, dated 10th May 1774
Your Honor etc having been pleased to
affix notices for anyone to deliver in their sealed proposals for carrying on
the business of the mint, we are willing to undertake the same on the
conditions of the last contract, only requesting you will be pleased to extend
the term thereof to three instead of one year.
Bombay Public
Consultations, IOR P/341/40, 1774. p. 417. 15th June 1774
It having been determined that the
treasure lately imported from Bussora, which we procured on account of our
Hobble Employers for bills on Bengal, should be coined in our mint & that
the silver should be made into rupees of the present standard, it remains now
to consider of what weight & fineness to make the gold rupees, which being
taken under deliberation together with a letter from our Mint Master, as
entered hereafter, shewing the gain arising by coining gold rupees of the
present weight & standard, Resolved after a full discussion that the gold
rupees be made of the same fineness as those at present current but that an
addition of two Vol be made to the weight, that is that they be now made of 40
Vol weight instead of 38 [7dwt 1gr] & that they bear the same impression as
the silver rupees, by which raising the real value (as they are to pass for 15
silver rupees as before) they will be current I the adjacent countries.
As the price of gold in this place is at
present low, some profit will still arise by coining it into rupees of the
weight & standard above resolved on, and it is agreed, in order to increase
the currency of the place, to permit private persons to coin gold in the mint
on their paying the customary dities of one & a half per cent.
The gold rupees now current must be
called in in proper time & recoined of the present weight standard. The
deficiency in weight must be made good by the Company as they enjoyed the
profit that was made on their being first coined.
Bombay Public
Consultations, IOR P/341/41, 1775. p. 240. 28th March 1774
Opened a proposal (being the only one
that has been delivered) for carrying on the business of the mint and is from
the present undertakers, offering to conduct it for the ensuing year on the
same terms and conditions as before. Agreed that their proposal be accepted and
they must accordingly execute the usual contract…
…Ordered also that two lacks of Patna
rupees be issued from the Treasury to the mint for being recoined as soon as possible
for the use of the Tellicherry factory
Bombay Public
Consultations, IOR P/341/41, 1775. p. 265. 14th April 1775
Ordered as it is represent that there is
a want of copper pice on the Island, that copper to the amount of 20,000 rupees
be issued from the warehouse to the mint where it must be coined as soon as
possible.
Bombay Public
Consultations, IOR P/341/41, 1775. p. 291. 25th April 1775
As there is at present a want of silver
currency in the Island, it is agreed in order to obviate the inconveniences
resulting therefrom to coin gold to the amount of 60,000 rupees into pieces of
the value of one silver rupee each, to be in fineness exactly eqwual to the
gold rupees now current and of 3/15th part of the weight of a gold
rupee
Bombay Public
Consultations, IOR P/341/41, 1775. p. 406. 5th August 1775
As the price of Tuthnague is now
something higher than it has been for a considerable time past it is therefore
agreed again to try at public outcry the large quantity if pice now laying in
the Treasury. Messieurs Fletcher and Ashburner are appointed a committee for
the disposal of it & the Secretary is ordered to give due notice
accordingly.
Bombay Public
Consultations, IOR P/341/41, 1775. p. 435. 15th August 1775
The Committee appointed to make sale of
the Tuthnague pice report to the Board by letter as entered hereafter that they
have sold the whole quantity of Tuthnague pice in the Treasury, at four rupees
and fifty reas per Surat maund & for ready money.
Bombay Public
Consultations, IOR P/341/41, 1775. p. 619. 12th December 1775
There being several counterfeit gold
rupees now circulating on the Island, it is agreed to offer a reward of one
thousand rupees to any person or persons who will make discovery of the persons
concerning them, so that offenders may be brought to justice.
Bombay Public
Consultations, IOR P/341/41, 1775. p. 628. 22nd December 1775
Mr Draper lays before the Board some
depositions he has taken in consequence of an information made before him
against a Parsee Priest and two goldsmiths for counterfeiting silver rupees,
and the circumstances appearing strong against them, Resolved that they be
flogged at the pillory put upon the works for six months & then turned off
the island & their effects confiscated. The Sepoy who made the discovery to
have a reward of three hundred rupees.
Bombay Public
Consultations, IOR P/341/42, 1776. p. 151. 16th March 1776
The contract for the mint expiring on
the first of next month, notices must be affixed for receiving proposals for a
new contract.
Bombay Public
Consultations, IOR P/341/42, 1776. p. 162. 26th March 1776
Opened a proposal from the late minters
delivered in consequence of our publication in which they offer to contract to carry
on the business upon the terms of the late contract and this being the only
proposal received, it is agreed to accept it.
Bombay Public
Consultations, IOR P/341/44, 1777.
Nothing found
Bombay Public
Consultations, IOR P/341/45, 1778. p. 121, 14th March 1778
The mint contract expiring the 1st
of next month, notice must be given that proposals will be received for a new
contract to commence from that time
Bombay Public
Consultations, IOR P/341/45, 1778. p. 185, 22nd April 1778
Opened, proposals as entered hereafter
for contract for business of the mint, which, being from the late contractors
and no others being delivered, it is agreed to accept them
Bombay Public
Consultations, IOR P/341/46, 1779. p. 415, 4th August 1779
…and that at the same time sealed
proposals will be received for a new mint contract for the term of one year.
Bombay Public
Consultations, IOR P/341/46, 1779. p. 425, 18th August 1779
Opened, a proposal for the mint
contract, which, being the only one delivered is accepted and the proposal
ordered to be entered hereafter (p429, from the same person as before).
Bombay Public
Consultations, IOR P/341/47, 1780.
Nothing found
Bombay Public
Consultations, IOR P/341/48, 1781. p. 532, 3rd October 1781
The President acquaits the Board that
there is a quantity of private silver on the Island brought by the Freight
Ships from the gulf of Mocha & that it would be of the highest benefit to
the place if such an advantage could be held out to the proprietors as would
induce them to continue their bullion upon the Island & convert it into
Bombay currency, otherwise that they will as usual export it to Surat &
Broach where it will yield a larger return from the mints.
To accomplish this end the President
proposes that the mint duties should be struck off, which amount to 2 ½ per
cent & are divided as follows: one to the Honble Company, one to the
President & ½ per cent to the mint master.
The accounts of the coi nage duty for
the last four years being sent for it appears upon inspection of them that the
sacrifice to be made by the Company is very trivial & the President
declares that he doubts not the saving of 2 ½ per cent. If we concur in this
proposed indulgence, which when made known to the inhabitants [&] merchants
will induce them to carry their silver to our mint, which at any rate will have
the general good effect of throwing a greater quantity of the best rupees into
circulation.
This matter being taken into
consideration, it is resolved for the reasons above set forth to strike off the
coinage duty of 2 ½ per cent heretofor collected on all private gold &
silver coined in the mint of which due notice must be given by Proclamation
Bombay Public
Consultations, IOR P/341/49, 1782. p. 635, 18th November 1782
Ordered that proposals be issued for a
new contract for managing the business of the mint, to commence from the first
day of January 1783.
Bombay Public
Consultations, IOR P/341/49, 1782. p. 799, 28th December 1782
Letter from Goverdundass Bascandass
& Lolldass Goverdundass dated 26th November 1782
Your Honor etc having been pleased to
affix the notices for anyone to deliver in their sealed proposals for carrying
on the business of the mint, we are willing to undertake the same on the
conditions of the last contract.
Bombay Public
Consultations, IOR P/341/50, 1783
Nothing found
Bombay Public
Consultations, IOR P/342/1, 1784. p. 238, 29th March 1784
Read a letter from the Mint Master on
the subject of the coinage of rupees which is deferred for further
consideration and in the meantime the Company’s orders and the regulations
which has been established at Surat and Bombay must be extracted from the
records and sent round for the perusal of the several members.
Bombay Public
Consultations, IOR P/342/1, 1784. p. 242, 29th March 1784
Letter from the Mint Master (Charles
Ware Malet) to Government, dated 28th March 1784
Mr Samual Martin, having delivered over
to me charge of the mint agreeable to your commands of the 3rd
instant, permit me gentlemen to lay before you a state of the department on my
succeeding to the direction of it deduced for the purpose of greater
perspicacity thro’ a retrospect of 17 years.
On the 26th June 1767 the
prejudicial effects of base coinage issuing from the Surat mint being experienced,
regulations were formed by the Governor and Council of this Presidency to
obviate the detriment arising therefrom to the trade and revenue of this
Island. On the 28th July following a Tankshaul Master was appointed
to inspect the coinage of the Surat mint and enforce the rules made for its
regulation and on the 1st October of the same year the Nabob of
Surat consented that his rupee should be of the same standard as that of
Bombay.
This point being effected, the Nabob,
influenced probably by a consideration that as Surat and Bombay were the only
places to which bullion was or still is imported in any quantity, which seems
to give them a natural right to an exclusive coinage, and finding equal reason
to complain of the baseness of the Broach rupee as Bombay has to criminate the
Surat mint, proposed a stoppage of its currency. This measure was not only
approved by the Presidency under date 22nd July 1768, but the Surat
Government was further directed to take such precautions as might entirely
prevent the passage of bullion to Broach.
Under the influence of these regulations
the Bombay Mint continued to flourish until the year 1771 when in December of
that year it was found that abuses had again crept in to the Surat Mint &
that its rupee was debased 2 ½ per cent. This debasement having been suffered
to pass with impunity, has been increasing with a swift progress and the check
on that mint having been removed by the abolition of the office of Tanksaul
Master under the 3rd April 1776, it now appears from an essay made
by my direction of six new rupees sent me by the Chief of Surat, that the Surat
rupee is debased from the Bombay standard no less than 10.2.55 per cent as per
report enclosed. The great disuse and discredit into which the Bombay Mint has fallen
by so unequal a rivalship will be seen by the enclosed statement of its coinage
from 1767 to 1783 whence its decline appears to have commenced from the 1771
being the period of the debasement of the Surat mint. In considering this
statement it will be necessary to observe that tho’ the replacing this mint on
a respectable footing has been thought so important an object to induce the
Governor and Council to deprive the Governor & Council of all revenue from
it, by abolishing in the year 1781 every Government duty on coinage reserving
inly a charge if 1 ¾ per cent fro the bare expense of the manager, yet that end
neither has nor ever can be answered so long as the degeneracy of the Surat
Mint holds forth advantage so superior to the bullion holder, and its base
produce continues equally current in Bombay, with that of your mint.
The purity of the coins is deservedly an
object of attention to a wise Government, but when by the neighbourhood of
other independent states each claiming an equal right to coin, the pure specie
of that one wise Government is exhausted and drawn into their mints to be
returned in baser state, and while in that base state it is equally well
received and equalkly current with the pure coin of that one Government, I
flatter myself Gentlemen you will agree, that if any specie is coined, and it
cannot be much in a mint labouring under such difficulties, yet will the
tenacious resolution of keeping up to standard purity answer no other end than
of benefiting a more designing and a less scrupulous neighbour, since even the
credit of a pure coinage vanishes when the istant a rupee appears, it is
hurried away to receive a new form & a new quality.
Permit me Gentlemen further to observe
that such a stagnation of the mint must greatly affect the circulation of
specie in this Island and that it is probable the great inconveniencies of the
want of specie now universally [complained] of would in some manner be remedied
by an active coinage, whereas from the great disproportion in the standard of the
two mints, the Bombay merchants and all others, are now forced to have recourse
to Surat, so that while this Government is deprived of a branch of revenue, and
its circulation, the Nabob has artfully improved both by increasing his mint
charges in proportion to the debasement of the rupee only observing in those
charges to keep within such bounds as may render the process of his mint
cheaper than it would be for the bullion holder to refine his silver to the
standard of the Bombay rupee
|
|
Rupee Value (rounded) |
|
1767 to 1768 |
400,937 |
|
1768 to |
619,618 |
|
1769 |
146,118 |
|
1770 |
764,860 |
|
1771 |
663,774 |
|
1772 |
425,946 |
|
1773 |
298,858 |
|
1774 |
442,172 |
|
1775 |
156,805 |
|
1776 |
576,227 |
|
1777 |
6,201 |
|
1778 |
124,004 |
|
1779 |
30,225 |
|
1780 |
11,016 |
|
1781 |
75,155 |
|
1782 to 1783 |
190,103 |
Bombay Public
Consultations, IOR P/342/1, 1784. p. 371, 14th May 1784
The Board now resume the consideration
of the letter from the Mint Master read the 29th March last, being
desirous to ascertain the late debasement of the Surat coinage in the most
public and unexceptional mannar, directed that the Chief and Council have
orders to take samples of twenty rupees each from the different coinages of the
last five years, either from the Company’s treasury, if any of that coinage be
now there, or else from the most reputable shroffs immediately n receipt of our
orders for that purpose. They must also procure samples of the present coinage
from the Nabob’s mint without giving him any previous notice. One half of each
of the said samples must be sealed up with the Company’s seal, and sent
immediately to the Presidency. The other half to be essayed at Surat in such
manner as the chief and Council may think will best answer the intention of the
Board in ascertaining the actual state of the coinage. We would recommend that
one half of the remaining samples be essayed in the Nabob’s mint, and the other
by some creditable goldsmith residing under the Company’s protection. They must
also be directed to procure and send hither the exact standard of the Surat
mint as fixed at the time of its establishment under the Mogul Government. Also
the standard and charges as fixed upon in the time of the Nabob Cooley Khan as
referred to in the proceedings on that subject in the year 1767.The Chief and
Council must be directed to proceed in this business with the greatest secrecy,
so that it may not be known at the Durbar ‘til the samples are secured.
Bombay Public
Consultations, IOR P/342/2, 1784. p. 862, 9th November 1784
The President also acquaints the Board
that there is a great want of small currency in the place, and proposes that a
quantity of copper be immediately coined. Ordered that 100 maunds of of plate
and the same quantity of Japan copper be delivered to the minters and that
directions be given to the Mint Master to have it coined into single pice of
100 to the rupee of the usual weight. He must further have directions to keep a
separate account of the produce and charges of coinage of each [sortment]
Bombay Public
Consultations, IOR P/342/3, 1785.
Nothing found
Bombay Public
Consultations, IOR P/342/4, 1785. p. 975/979. 30th September 1785
Petition of Lolldass Goverdondass. Mint
Undertaker at Bombay, read on 30th September 1785
The [Betrery] has arrived from Mocha and
has brought treasure in Dollars and there are the other vessels expected from
thence, which will also bring treasure. The Dollars by the [Betrery] are
exporting to [Nof..] to be coined then into rupees, as the rupee of the coinage
of that place is less in value than Bombay rupees in 25 per cent. Dollars are therefore
carried thither in order to reap that advantage. This exportation of Dollars
from this Island [tends] prejudicial to the mint of this place so much that
even the expenses of keeping the mint house cannot be cleared. May it please
Your Honor etc, it is an established rule at Surat that all merchants who
import Dollars are obliged to give in a manifest into the Phoorza office &
the mint office and if afterwards found that the proprietors of the Dollars or
other kinds of silver did not send their Dollars to be coined, they are charged
five per cent customs on the amount of the Dollars they imported. This rule was
established to prevent the Dollars being exported and thereby prevent a
scarcity of cash. Your petitioner humbly conceives that if the same rule was
adopted and ordered by Your Honor etc, to be observed here it will be attended
with great convenience to the Publick in having plenty of cash in the place and
it will also be a benefit to the Mint Officer of this place.
Bombay Public
Consultations, IOR P/342/4, 1785. p. 1136. 28th October 1785
Read two petitions from the Tobacco and
Arrack Farmers representing the great loss they daily sustain by the very high
value or exchange there is at present in the Buzar of pice into silver rupees,
desiring such relief as the Board may think proper. These petitions are ordered
to be entered after this consultation.
On consideration of these petitions, we
have to observe that the exigencies of Government during the late war have at
times obliged us to coin copper pice, which after the conclusion of peace and
the restoration of our several acquisitions, have returned to Bombay. By a
reference to an account (laid before us by the President) of the copper pice
coined of this place within the last ten years, it appears it has amounted to
Surat Maunds 6067..35 seer..15 Pice and may be valued at Rupees 199,570..-..33,
a sum more than double what is required for the currency of this Island,
Salsette and Caranja; and as we are desirous to remedy the evil complained of,
which is now become a burthen insupportable to the laborious and poorer class
of the inhabitants, from the great loss they suffer when obliged to change pice
into silver rupees, It is resolved to adopt the following manners which appear
but calculated to remove the grievance and [mend it] with the smallest possible
loss to the Company Viz:
That the assistant to the treasurer be
directed to purchase as many pice as will as will amount to two thousand maunds
(being a third of the quantity now in circulation) at the present market price,
which it is proposed shall be defaced and sold as lump copper.
Bombay Public
Consultations, IOR P/342/5, 1786. 25th January 1786. p. 61
Read a letter from sundry merchants of
this place respecting the present mode of buying And selling Venetians as
lately attempted to be introduced by the shroffs. On consideration of this
letter and the proposal of the merchants appearing equitable & fair, a
publication must be issued signifying that all shroffs, in buying and selling
Venetians, are to weigh them by fifteen new Bombay rupees or a brass weight
equal to fifteen tolas, which answer to fifty Venetians full weight and so in
proportion for a greater or smaller number. They are accordingly directed from
and after the 10th of next month to provide themselves with those
weights to be stamped by the Mint Master and any shroffs acting in disobedience
to this order, shall on conviction before a Magistrate be fined for the first
offence, 50 Rs and for the second 100 RS.
This resolution to be communicated to
the Mint Master with directions to comply therewith so far as concerns himself.
Bombay Public
Consultations, IOR P/342/5, 1786. 7th July 1786. p. 594
Taking into consideration the very great
scarcity of silver on the Island and the evil which arises from the exportation
of all the silver brought to this place, particularly to Poonah, where a mint
is kept I which they coin a debased rupee, whereby it becomes an object to
private persons to carry off our Bombay rupees to recoin; moreover, as this is
the season when ships arrive with treasure from the [Gulph], it is resolved in
order to put a stopto the above inconvenience as far as possible, that the
resolutions of this Government of the 17th August 1770 be revived
and that all bullion, silver, or silver coins exported from hence (except to
Surat) be charged with a duty of 3 per cent, which must be made known by
publication and the Bombay and Mahim Customs Masters must be directed to pay
the strictest attention thereto.
Bombay Public
Consultations, IOR P/342/6, 1786.
Nothing found
Bombay Public
Consultations, IOR P/342/8, 1787.
Nothing found
Bombay Public
Consultations, IOR P/342/9, 1788.
Nothing found
Bombay Public
Consultations, IOR P/342/10, 1788.
Nothing found
Bombay Public
Consultations, 2nd December 1788. India Office Collections
Bombay Public
Consultations, IOR P/342/11, 1789. 2nd October 1789. p. 648
Letter from the Clerk of Works (J
Stewart) to Government, dated 26th September 1789
I have examined the different roofs belonging
to the Mint House which are much decayed and agreeable to your directions have
drawn out an estimate of the expense which will be incurred by making them new.
The estimate if for Bations which, although attended with a greater present
expense than Boondy Bundles, yet are in the end much less expensive for they
last a number of years longer and save the great charge for repairs which roofs
covered with Boondy Bundles constantly require. I have made an allowance for
the old materials. I suppose about a third of the rafters may be used again and
all the tiles, making a deduction of one fifth for breakage.
Resolution
As the necessity of repairing the mint
is evinced by the representation before us, ordered that it be carried into
execution. Care be enjoined that the estimate be not exceeded.
Bombay Public
Consultations, IOR P/342/11, 1789. 4th December 1789. p. 838
The information of Loldass, the Honble
Company’s Mint Contractor
That as he was passing through the Buzar
the day before yesterday, he saw Bicardass and Jevandass, two shroffs,
disputing with each other. That on enquiring the cause, he found that the
former had just received one hundred gold mohurs from the latter, and that he
was challenging six of them as uncurrent. That, suspecting the rupees were
false, he, on his return home, sent his servant for Jevandass, desiring him to
bring with him the six rupees in dispute. That, finding them not to be the
coinage of the Honble Company’s mint, he, in presence of Jevandass, immediately
cut in pieces two of the rupees and found that each of them contained a plate
of silver in the centre. That on his asking Jevandass where he got the rupees,
he answered he had received them in the course of business but could not tell
from whom. Jevandass has lately arrived from Radalpore, a place near Bhwanagar
and opened a shop here. The rupees are worth about ten rupees each.
In conseqwuence of the above
information, we think it necessary that the shroff on whom the debased gold
rupees were found should be taken before the sitting Magistrate for
examination, in order that a discovery may be made if possible by what means he
became possessed of the rupees in accusation.
Bombay Public
Consultations, IOR P/342/12, 1790. 22nd January 1790. p. 80
Rama [Sinoy Lottiwur], who was security
for the Mint Contractors, Balmacondass Goverdandass Bookandass and Loldass
Goverdandass, having died the 31st ultimo, I conceive it my duty to
inform you of the same. At the same time permit me to submit to you the
propriety of immediately calling on the contractors above mentioned to renew
their contract and find fresh securities.
Resolution
In consequence of the above intimation,
the Mint contractors must be called upon to renew their contract.
Bombay Public
Consultations, IOR P/342/12, 1790. 2nd February 1790. p. 102
The Mint Master acquaints the Board that
the Contractors have tendered Baboo Sinvy and Ram Sinvy as their securities in
the event of Government renewing their contract.
Ordered that the Solicitor report to us
what property the above mentioned persons may be possessed of and are willing
to make over by mortgage, when we shall judge of its sufficient
Bombay Public
Consultations, IOR P/342/12, 1790. 19th February 1790. p. 135
The Company’s Solicitor lays before the
Board the final draft of an engagement for the Mint Contractor to execute,
which os approved, but as we observe the former contract have fixed no standard
for the fineness of the gold coinage, a matter we think it highly proper should
be inserted, the Mint Master must be called upon to inform us what orders are
extant in the mint on that head and by what standard gold and silver coins have
been hitherto regulated.
Bombay Public
Consultations, IOR P/342/12, 1790. 26th February 1790. p. 163
Letter from the mint master (Edward Galley)
to Government, dated 24th February 1790
In reply to your letter of the 22nd
instant communicating to me [from] the Honble Governor in Council his commands
that I would inform him from the documents in my office what weight and fineness is the standard for gold
rupees, I have to request that you will inform him that there are no records in
the mint office prior to 10th August 1773, not any subsequent orders
of Government relative to the fineness of the gold rupee further that they
should continue to be made of the same standard as previous to the 18th
June 1774. What that standard was no where appears except in a letter from the
Mint Master, Mr Church, to the President in Council dated the 16th
Mat 1774, in which he says “one gold rupee weighs 7 dwt 1 grain or 38 Vols of
the fineness of 24 Carats, which is Venetian standard”. The Mint Undertaker
confirms the gold rupee being of the same standard as the Venetian, but says
the Venetian is only 99 touch, which answers to 23..76 [dwt], which fineness he
has invariably followed in all the gold rupees coined by him since his first
contract with the Honble Company in July 1678 and agreeable whereto he is ready
to renew his contract. Under the 18th June 1774 the Honble the
President and Council directed that the gold rupee should be made of the weight
of exactly forty Vols or 7dwt 16 2/3 grains, at which weight it has continued
ever since.
Bombay Public
Consultations, IOR P/342/12, 1790. 26th February 1790. p. 164
Letter from the mint master (Edward
Galley) to Government, dated 25th February 1790
In reply to the commands of the Hinble
the President in Council communicated to me in your letter of yesterday, I
haveto request you will inform him that the Bombay rupees should weigh exactly
1 Tola or 7 dwts 10 1/3 grains and in fineness should answer 14 ½ better than
English standard or 591 [Reio] ..25 [dwt] of pure silver and 8 [Rui] 75 of
alloy
Resolution
As there appears to be no precise
statement for the fineness of gold the Secretary is ordered to insert a clause
in the Contractors new engagement to fix it at the fineness of Venetians or
23.-.26
Bombay Public
Consultations, IOR P/342/12, 1790. 22nd June 1790. p. 396
Letter from the mint master (Edward
Galley) to Government, dated 18th June 1890
Having assayed the two parcels of muster
rupees just received from Surat, I am to request you will inform the Honble the
Governor in Council that they not only proved of a superior quality in point of
silver to any lately received, but likewise exceeded in weight, the alloy on
each tola of silver being on a medium of 31 ¾ Rice and excess of weight about 5
Rice
Bombay Public
Consultations, IOR P/342/13, 1791. p. 233
Letter from the assistant to the
treasurer to Government, dated 12th April 1791
In obedience to your directions I
herewith send a statement of the Mint Undertaker’s account in which 21 days
credit is allowed on all the Treasure delivered to him for coinage on account
of the Honble Company & he is credited interest on all his payments from
their respective dates. For the greater perspicuity the account of every
delivery to him of treasure is stated separately and from the General Interest
as drawn out at the conclusion a balance appears due from him thereon of Rs
1651..3..88 on 31st ultimo besides a further sum of Rupees
48.562..0..28 sweeps notwithstanding he has paid no money into the Treasury
since 31st January last.
On 19th November last I
delivered him for recoinage 373 counterfeit gold mohurs & 60 2/3 gold
mohurs which were cut in the treasury from a supposition of their being
counterfeit but were found to be standard coin. On my daily report these are
stated at Rs 6505 but as yet no part of this sum has been returned into the
Treasury.
When I was informed by him in January
that the Company’s coinage was finished, I delivered to him 50,000 Dollars of
my own for coinage, an account of which made up in same manner as that of the
Honble Company. I beg to lay before you as a balance of interest is due to me
thereon of Rs 231..2..16 on 31st March last.
Ordered that the Mint Contractor be
called upon for the balance in his hands and in case of his not discharging
within ten days, it must be put in the solicitor’s hands to recover
Bombay Public
Consultations, IOR P/342/13, 1791. p. 453
Resolution 17th June 1791
By the Treasury report of this day which
Mr Carnegie lays before the Board, it appearing that all the recoined
counterfeit gold mohurs have been delivered in from the mint, ordered that the
Acting Mint Master lay before us a specific account of their produce and the
loss attending them.
Bombay Public
Consultations, IOR P/342/13, 1791. p. 480
Letter from the Acting Mint Master
(Patrick Crawford Bruce) to Government, dated 25th June 1791
Agreeable to your order of the 18th
instant, I have the honor to enclose an account from the Mint Undertaker of the
recoinage of the counterfeit gold mohurs delivered to the mint from the
Treasury by which it appears the actual loss is one hundred and seventy five
gold mohurs, as follows:
Gold mohurs counterfeit received from
the Treasury 433.666
Ditto paid into the Treasury 258.666
Balance 175
Lost by burnage from the admixture of
silver and other metals
Bombay Public
Consultations, IOR P/342/14, 1792. p. 507
Resolution 7th August 1792
The Board now proceed to take into
consideration the 7th, 8th, 9th, 10th,
and 11th paragraphs of the Honble Company’s commands of the 8th
February last respecting the copper coinage sent out by the ships of the
season. Agreed that a publication be issued as soon as possible signifying that
all persons in possession of copper pice of the Company’s former issues do, on
or before the 30th September next, bring them into the Company’s
Treasury for the purpose of receiving in lieu thereof an equivalent in the new
coinage now sent out and for which the public will receive for each rupee a
quantity of pure copper equal in weight to 10,000 avoirdupois grains, and by
the coin now in circulation they only receive 7314, the difference in this
respect alone is nearly equal to 50 per cent. As it is hereby declared that
from and after the 1st September next the old pice shall not pass
current in this town or Island of Bombay nor shall any person or persons be
obliged to receive or accept the same in payment and that any coin of a counterfeit
kind shall immediately be cut in two and forfeited to the Company for which
purpose the necessary minters and shroffs must attend at the Treasury, who
shall be answerable for the receipt of any pice not coined by the Company, and
the Assistant to the Treasurer must always be at the Treasury at the usual
office hours that no favour or affection may be shown to anyone.
Agreed also that the Assistant to the
Treasurer be directed to issue the new coinage after the 15th of the
month in all payments to be made in pice.
Resolved also that copy of these
paragraphs from the Company’s commands and our proceedings thereon be sent to
Tannah and Tellicherry and they be directed to acquaint us what quantity of
pice they have in circulation in order that we may send a sufficient quantity
of the new coinage to replace them.
Bombay Public
Consultations, IOR P/342/14, 1792. p. 510
Resolution 7th August 1792
As we thought it proper to issue the new
coinage sent out by the Company, we think it also necessary that the public be
acquainted with their value. Agreed that publications be issued accordingly.
Bombay Revenue
Consultations, IOR P/366/15, 1793. p. 174
Mr Duncan’s minute on the Government of
Malabar. March 1793
There shall remain only one mint for all
the ceded countries, to be established at the seat of supervisorship, under the
exclusive administration of the Company’s Government, in the manner to be more
fully detailed under the separate mint regulations.
Bombay Revenue
Consultations, IOR P/366/15, 1793. p. 505
Letter from Jonathan Duncan and William
Page to William Gamul Farmer, Supravisor and Chief Magistrate of the Province
of Malabar, dated 17th September 1793
We have been favoured with your letter
of the 13th instant.
All the knowledge we have acquired on the
subject of the coins in Malabar will appear in our report to Government, of
which Mr Travers will be instructed to furnish you with a copy, and also of the
voucher accompanying it, and in the meantime we believe you already posses a
transcript of what we have hitherto written on the subject, which we doubt not
will sufficiently attract the attention of our superiors to induce them to pass
such orders on the subject in general as may tend to the public advantage.
Meanwhile, what Colonel Hartly has
mentioned to you, is certainly our opinion, formed in consequence of a
correspondence with, and letters from, that Gentleman under date the 21st
of last month, apprizing us that in accounting for their pay, the troops
suffered a loss of 5 per cent, which as far as we can [understand] of the
sentiments of our superiors, they must, we think, wish to avoid and will, we
imagine, be induced to join in our and your opinion that the troops ought to
receive the full value of their appointed pay in whatever coin it may be necessary
to issue it. Of the particulars you should monthly give notice to the
commanding officer of the troops, that he may be enabled to advise the officer
in command of corps, who will thence have it always in their power to see and
be satisfied that justice is done to the troops under their respective orders.
As to the cause of the present value of
the [need] verayes (which differ a little in their inherent weight and fineness
from either the Sultanee or any of the other coins hitherto struck in the Calicat
mint) we imagine that they will again rise now that the season for commercial
intercourse by sea and land is opening on this coast, which end you may also
accelerate by stopping the further coinage of these fanams for a month or till
they attain their standard value.
Altho’ we have little doubt but by one
or other of the means above indicated the present depreciation on the Bazar
rates of these fanams may be shortly obviated, yet we advise that before
adopting the step of altogether putting even a temporary stop to the viray
coinage you take advice of the best informed merchants and shroffs, such as
Sheikh [Cory…] of Calicut, and of Putteram shroff of the same place with such
other as you may deem most trustworthy and after enquiring fully as to what they
deem the best remedies you will thereon adopt such part of our preceding advice
as you may deem most salutary or let it altogether remain without effect if on
mature consideration [you] shall believe that it would not be productive of any
good consequences…
The letter was passed to the Bombay
Government:
Minute of the Bombay Council
It appears by our proceedings of the 8th
October we have already given it as our opinion that we cannot make any permanent
regulations respecting the coinage, until we receive the final report of the
Commissioners with orders and instructions from the Government General. In the
meantime the Supravisor must adopt such temporary expedient as he may think
most effectual to prevent any loss either to the Honble Company or to the
troops, and to conform as much as possible to the recommendation communicated
to him by the Commissioners in their letter of the 17th September
1793.
Bombay Public
Consultations, IOR P/342/15, 1793. p. 507
Letter from the acting mint master (P.
Crawford Bruce) to Government, dated 10th May 1793
As the contract with Lolldass
Goverdundass and Manordass Goverdundass [these seem like the right spellings]
the mint undertakers is now expired, I take the liberty to mention the same to
you and likewise to acquaint you they stand indebted on balance as per account
current accompanying amounting, with interest to the 1st instant, to
Rupees 24,402..2..37
On demanding this balance from the
contractors they allege a claim on account the quality of the dollars which
were delivered them for coining in the year 1790 from the Treasury, and by
which they were very heavy sufferers, but acknowledging with much gratitude
your goodness in consenting to withdraw the suit formerly instituted against
them, and wishing to avoid every dispute on this account, he has requested I
would entreat the favour in his behalf to have the matter either submitted to
arbitration, or to be investigated in such other manner as may appear proper to
you
Resolution
He must be informed that we have agreed
to give up to the mint undertakers the interest on their account, but they are
to be called on immediately to pay the balance due on the 1st May
1792.
Bombay Public
Consultations, IOR P/342/15, 1793. p. 573
Letter from the acting mint master (P.
Crawford Bruce) to Government, dated 22nd June 1793
In obedience to your orders I beg leave
to acquaint you that the former regulations respecting the coinage was a duty
of 2 ½ per cent on silver and 1 ½ per cent on Gold collected on all bullion
coined in the mint and which was divided as follows:
On silver 1 per cent to the Company
1 per cent to
the Honble the Governor
½ per cent to
the Mint Master
2 ½ per cent
On Gold ½
per cent to the Company
½
per cent to the Honble the Company
½
per cent to the Mint Master
1
½ per cent
But under the 21st October
1781 this duty was struck off by order of the Honble the Governor and Council and
a proclamation was issued to that effect, and since that date there has been no
coinage duty collected from individuals and the Mint Contractor has always
coined both gold and silver according to the terms and restrictions of his
contract with Government.
Agreed that we advertise to receive
sealed proposals on Friday 28th instant from any person willing to
contract for carrying on the business of the mint at Bombay from the 1st
July next ensuing to the 30th April 1796
Bombay Public
Consultations, IOR P/342/15, 1793. p. 590. 28th June 1793
Opened four proposals for contracting to
carry on the business of the mint at Bombay from 1st July next to
the 30th April 1796 when that of Curson Veddadhur being the most
eligible, agreed that it be accepted
upon his finding two responsible persons to be security for one lack of
rupees.
[all the applications are fully reported
here. One from the old mint contractor].
Bombay Public
Consultations, IOR P/342/15, 1793. p. 603. 2nd July 1793
On enquiry into the character of Curson
Veddadhur we find he is not a man of sufficient respectability to be entrusted
with an undertaking of such importance & as the proposals of Narrondass
Tulsidass are more advantageous than any of the others, agreed that they be
accepted on hisfinding two responsible persons to be security for one lack of
rupees.
Bombay Public
Consultations, IOR P/342/16, 1793. p. 645. July 1793
The Acting Mint Master must be directed
to call upon the securities of the Mint Contractor for the balance due from him
and in case of a non compliance to report the same immediately.
Bombay Public
Consultations, IOR P/342/16, 1793. p. 728
Letter from the acting mint master (P.
Crawford Bruce) to Government, dated 18th July 1793
Agreeable to the directions which I have
been favoured with from the Secretary of Government to specify the regulations
of the mint office and what are the terms on which people are allowed to coin,
I beg leave to mention that there are no particular regulations in the Mint
Office respecting the coinage because, the business being done by contract, the
Contractor is at every expense for the coinage. When any person wishes to coin
either silver or gold bullion he makes application to the Mint Master and as
there is no particular restriction of Government against the coinage of silver,
the Mint Master immediately gives direction to the Mint Undertakers to receive
the silver bullion and to coin into rupees in the mode described in his
contract with Government, but for coining gold, the Mint Master is to make application
to the Honble the Governor specifying the person who has made application to
him and the number of Tolas of gold he wishes to have coined, and must receive
the permission of the Honble the Governor previous to his giving any directions
to the Mint Undertakers, and to prevent any improper conduct in the Mint
Undertakers, there is an Assay Man who receives a monthly pay of four rupees
from the Company and who attends all meltings of gold or silver to take care
that it is equal to standard and it is likewise the business and duty of the
Mint Master to attend the meltings and to be careful that the Assayer makes a
proper examination.
The Mint Undertaker has an allowance for
burnage, wastage etc, on Gold one val for each Tola, and he is obliged by the
terms of his contract to deliver the whole money whether silver or gold, in
twenty one days, and for whatever part may be detained beyind that time, he
pays an interest to the Proprietor.
In consequence of your orders of the 12th
instant, I have called on Ramdass Manondass, the security for the late Mint
Undertaker, Lolldass Govundunass, to pay the balance due from him by the
account which I had the honor to lay before you, and he has given me an
accepted draft payable in four months on Gopauldass Manordass, the Shroff, for
the sum of Rupees 22,362-..-22, being the amount to be recovered from him
agreeable to your orders to me under 25th May last. If the mode of
payment is acceptable to Your Honble Board, I will then keep the draft and give
Lolldass Goverdondass a discharge.
Reply
He must be directed to observe the
established usage of his office
He is at liberty to accept the draft and
give Lolldass Goverdondass his discharge
Bombay Public
Consultations, IOR P/342/18, 1794. p. 55. 28th January 1794
The Mint Master must be desired to
inform us at what rate fanams were coined before
Bombay Public
Consultations, IOR P/342/18, 1794. p. 66. 22nd February 1794
Letter from the mint master (Richard
Church) to Government, dated 30th January 1794
I beg you will inform the Honble Board
that the last coinage of fanams took place in 1789 at the following rates:
New Pillar Dollars
Current Rupees
…at the rate of 520 fanams for 100
rupees
As the price of Dollars is so extremely high
and there would be a loss of near three percent in coining them into fanams, we
do not think it advisable at present to purchase any for that purpose.
Bombay Public
Consultations, IOR P/342/18, 1794. p. 1196. 14th November 1794
Letter from the mint master (R. Church)
to Government dated 13th November 1794
Be pleased to acquaint the Honble the
Governor in Council that from the following statement it will be most
advantageous to coin the fanams from Dollars
100 Dollars produce 1072 fanams at the
rate of 219 for 100 Dollars
200 Bombay Rupees produce 978 fanams.
There is then a calculation which I
don’t understand but it shows that that they could get more fanams from Dollars
than rupees. It then goes on:
I have particularly mentioned Bombay
Rupees as I find upon trial that the current (or Surat) cannot be made into
small coin , having too much alloy in them.
Resolved that the Assistant to the
Treasurer be directed to purchase Spanish Dollars in order to be coined into
fanams to the amount of fifty thousand rupees.
Bombay Public
Consultations, IOR P/342/19, 1795. p. 126. 20th January 1795
The Accomptant General lays before the
Board a statement of the difference in produce between delivering the copper
coin by weight and by tale.
This showed that approximately 50 tons
of coins had been delivered by three ships: The Raymond, the Woodford and Sir
Edward Hughes
Bombay Public
Consultations, IOR P/342/23, 1796. p. 1015-1021.
Letter from the mint master (Wm Simpson)
to Government, dated 19th April 1796
The contract with the Mint Undertaker
expiring on the 1st of next month, I take liberty of acquainting you
with the same. I request your orders on the subject.
Ordered that an advertisement be issued
in consequence to the same effect as was before done on a similar occasion.
There is also the complete contract that
had been signed between the Company and Narondass Tulsidass in 1793.
Bombay Public
Consultations, IOR P/342/23, 1796. p. 1358. 31st May 1796
Opened Mint Proposals from the following
persons:
Mr Miguel de Lima Souza
Ramchunder Madowsett
Lalla Nagidass for Chooney Loll
Pestonjee Eduljei
Agreed that these proposals be referred
to the mint master and he be desired to prepare and send in a comparative
statement showing which may be the most advantageous for the Honble Company and
the Public to accept
Bombay Public
Consultations, IOR P/342/23, 1796. p. 1371. 2nd June 1796
Dr Helenus Scott appointed a member of
the Committee for reporting on the current coins
Bombay Public
Consultations, IOR P/342/23, 1796. p. 1386. 7th June 1796
A letter from the mint master was read
but the records are blank about the contents. It seems to have been about the
contract for the mint.
Bombay Public
Consultations, IOR P/342/26, 1796. p. 3222/4.
Letter from the mint master (William
Simpson) to Government, dated 2nd December 1796
The person who was employed to coin the
fanams lately sent to Malabar having addressed me a letter enclosing an account
of the loss he affirms to have sustained by burnage etc on the German Crowns,
as also his charges for workmanship,I take the liberty of submitting the same
for your notice observing that it is the first time fanams were ever made from
German Crowns. There is no regulation in the office fixing the percentage to be
allowed for the trouble and expenses attending this coinage. The contract with
the late minter expired in June last, since which period he has wished to
decline acting. By persuasion I have engaged him to carry on the business. He
is now unwilling to undertake the coinage of the fanams ordered to be made
immediately, unless his account is approved by Government and similar charges
allowed him in future.
Agreeable to the terms of the late
contract the minter was obliged to deliver Rupees 221..3..36 for 100 ounces
troy weight of German Crowns, at this rate I offered to settle for the fanams,
calculating five fanams to the rupee. This he rejected alledging that the
trouble and expense of coining of one fanams was nearly the same as on a rupee
and that such an allowance was by no means sufficient to reimburse him the loss
on the burnage of the silver and the other expenses he had incurred for
artificers.
There then follows the letter from
Narrondass Tulsidass to the mint master explaining his position.
Agreed that copies thereof be sent to
the Committee for reporting on the several coins current on this side of India
directing them to deliver in their former report as also on the merits of the
present application.
Bombay Public
Consultations, IOR z/p/3397, 1797.
Nothing found
Bombay Public
Consultations, IOR P/342/29, 1797.
Nothing found in the index
Bombay Public
Consultations, IOR z/p/3398. Index for 1798
Bombay Public
Consultations, IOR P/342/31, 1798. p. 661
Letter from the mint master (Willm
Simpson) to Government, dated 28th February 1798
I have agreeable to your orders
consulted with the Mint Undertaker regarding the number of fanams he can coin
by the 1st of April. He has promised to have about 75,000 ready by
that period on condition of his being allowed 4½ per cent for Wastage, burnage
& other charges he must necessarily incur. The coinage of fanams is far
more troublesome than rupees as each rupee must be divided and weighed into
five equal parts, which requires a good deal of nicety and attention, and in
consequence artificers must be employed in proportion.
I therefore take the liberty of
recommending that his proposal may be accepted, being according to the best of
my judgement fair and reasonable.
Agreed that the Mint Master’s
recommendation on behalf of the Undertaker be in the present instance complied
with, but not to operate as a precedent & on the express condition that the
75,000 fanams above mentioned be actually ready by the time specified.
Bombay Public
Consultations, IOR P/342/31, 1798. p. 973
Letter from the mint master (William
Simpson) to Government, dated 9th April 1798
I have informed the Mint Undertaker that
you have directed six lacks of rupees to be coined into fanams annually, which
he will do his utmost to comply with, whenever he can procure a sufficient
number of artificers from Surat. For the present he promises to coin about Rs
20,000 into fanams every month, the number of workmen in Bombay being too few
to carry on the business on a more extensive scale
Bombay Public Consultations,
IOR z/p/3399. Index for 1799
Bombay Public
Consultations, IOR P/342/39, 1799. p. 3067
Letter from the mint master (William
Simpson) to Government, dated 1st November 1799
I have been honoured with your commands
of the 8th and 22nd ultimo. In reply to the former I beg
leave to observe that the Mint Undertaker positively affirms not a single fanam
was ever issued from the mint of the coinage from German Crowns but of the
specifick standard without the smallest diminution of its purity by the introduction
of an alloy, which I really believe to be the case. He is however willing to
bear the expense of the re-coinage at Tellicherry of all the broken fanams, or
such as were from any accident in the stamping rendered uncurrent. With regard
to the deficiency he cannot be held accountable as the fanams were paid into
the Treasury and receipts passed him to the full amount from whence they were
afterwards consigned to the Coast.
On the subject of your orders of the 22nd
ultimo I take the liberty of observing that only two descriptions of fanams
have been coined in this mint for Malabar: the first from Chandoly rupees as
per your directions of 11th April 1796; the second from German
Crowns as per ditto of the 2nd June following. It is much to be
regretted that the specimens of the old and new fanams sent there, as noticed
in the extract of the letter from the Northern Superintendent, were not
forwarded to the Presidency to be assayed by a regular chymical process, that
there relative value might be accurately ascertained. The Spanish Dollars from
which the fanams must now be coined are above 4 per cent superior to the German
Crowns but as the standard of Chandoly rupees is scarcely ever the same for a
year together, I cannot say what proportion it may now bear to the fineness of
the fanams coined from those rupees formerly, which are the same alluded to (as
the first coinage from Bombay) in the correspondence sent for my notice. At
present the Spanish Dollar is reckoned 3 per cent better than any of those
rupees to be met with in the place. From this circumstance the Mint Undertaker
has requested me to submit your directions whether he is to proceed immediately
on the coinage of fanams of the same standard with the Spanish Dollars, or to
wait until a specimen of the composition of the Tellicherry fanams can be
delivered here, that the standard of both mints may agree in point of the
purity of the silver.
This was sent to the Accountant General
for his opinion.
Requested
Bombay Public Proceedings 1800/1801/1802
Index for 1800 under
Governor in Council subtitle President has an entry:
Delivers in specimens of
the new rupees intended to be struck in the
Also under mint there’s
an entry about the mint master being instructed to have the dies cut for the
new coins but no page number
Petiton from Candass Bullackedass dated
That your petition[er] begs leave to
request your Honble Boards permission to coin about twelve thousand tollas
Venetian gold into mohurs in the Honble Company’s mint, therefore humby begs
your Honble Board will be pleased to order the mint master for the same
Resolution dated
The mint master will be instructed to
cause the monay above mentioned to be coined into mohurs as requested.
Resolution
…The following allowances are also
authorized, Viz
To the Mint Master the sum of 280 rupees
per annum for keeping the building under him in repair…
Letter from the acting mint master at
I have the honor to transmit a staement
of my receipts and disbursements for last month accompanied by a cash account.
Letter from the mint master at
I have been favoured with your letter of
the 8th instant and copy of a petition from [Hullysing Dongursey]
praying to be allowed to coin silver rupees in this mint of the same standard
as the Surat coinage, in reply to which I beg you will inform the Honble the
Governor in Council that they can be made in every respect similar to them
whenever he may be pleased to give me orders to have stamps cut, bearing the
impression of the Surat rupees at present in currency.
Resolution of
There being no solid objection to
agreeing to the request of [Hurrysing Dongursey] as recorded under date of the
8th instant and several advantages attending it, the Mint Master was
instructed on the 19th instant to have the necessary stamps cut for
the proposed coinage.
Letter from the Collector at
Encloses an account of receiving 100,000
dollars by tale, which proved to be light by 4 dollars. They were coinaed as
follows:
|
June
26th |
22,996.2 |
|
June
27th |
10,999 |
|
July
1st |
17000 |
|
July
3rd |
10000 |
|
July
7th |
17000 |
|
July
9th |
22000 |
These produced at 216.3.24 per […]
dollars: 216801.1.31 rupees
Letter from
I take the liberty of submitting extract
of a letter received from Mr De Souza dated 8th instant on the
subject of your orders of 5th instant relative to the commission to
be collected for the Honble Company, from merchants coining rupees of the Surat
standard in the mint, on which I beg leave to solicit your further directions
as soon as may be convenient.
Extract of a letter from Mr Miguel De
Souza, dated
I have received your note and much
obliged to you by the order you have sent to receive my dollars and to coin
them into Surat rupees, but I understand the Board have ordered to collect 2 ½
percent commission, therefore it is necessary for me to know what number of
rupees I am to get for 100 Spanish dollars clear of the commission and all
other charges. I understood that we were to get 219.1.50, just the same as at
It is impossible that the proprietor of
the dollars can subject himself to such an expense if they are to get no more
then
Resolution,
On the above representation it was
resolved on the 11th instant that the Company’s fee on the coinage
should not, under these circumstances setforth, be exacted.
Letter from Smith Forbes & Co to
We request your permission to coin in
the Honble Company’s mint here about 32,000 Spanish dollars and about 4000
tolas
Reply
In reply to the above application Messrs
Smith Forbes & Co are to be advised that they need only apply to the mint
master from whom they will receive the requisite permission to coin their gold
and silver provided they conform to the regulations of the mint at present in
force respecting the standard of the coins & all other points.
Letter from Bombay Assay Master (Scott)
to Government, dated
By your desire I visited the mint and I
took from the hands of different workmen 4 rupees still unfinished. It appears
from assays that these rupees contained 8.3 per cent of alloy or each rupee had
64.15 grains of pure silver. I do not know the present regulation of the Surat
mint for fineness but none of the Surat rupees formerly examined by me were one
per cent superior to these Bombay rupees.
By the report of the mint master of
The inquiry regarding weight is in favor
of the
Four rupees coined in
|
|
grains |
|
No.
1 |
179 |
|
No.
2 |
179.3 |
|
No.
3 |
179.11 |
|
No.
4 |
178.8 |
Two rupees coined at
|
|
grains |
|
No.
1 |
179 |
|
No.
2 |
179.1 |
From this it appears that both of those
kind of rupees are heavier than the standard weight which is 178.31 grains.
In order to compare together the weight
of
Thirteen
Trial 1,
Trial 2, ditto
Trial 3, ditto
Fifteen of each were then put in the
scales
|
Trial
4 |
|
5’ |
|
Trial
5 |
|
4’ |
|
6 |
|
4’ |
|
7 |
|
4’ |
|
8 |
|
4’ |
|
9 |
|
5’ |
|
10 |
|
5’ |
I have heard one or two people suppose
that the present
I think it would be proper to [incise]
the word
Every government may make when it
pleases some difference in the standard of ots coin, nor could this be attended
with any inconvenience or deception to the public, as all the rupees in
circulation are
Upon the whole I hope it will appear
from what I have said that such a difference as I have mentioned not
[exceeding] one per cent on the value of the rupee of
PS Since writing the above I have
received and read over the
In Novemebr 1771 the Chief and Council
write to the Court of Directors “that
they had with the Nabob fixed the standard of the rupee at an alloy of 22 rice
which makes it 2 1/3 per cent superior to the
In 1784 they write to the Bombay
Government “that on the establishment of the
In 1772 I see a further change was made
on the fineness of the rupee for the standard was now fixed at 514.5 rice of
pure silver 35.5 rice of alloy. This is an alloy of 4.956 or 5 per cent nearly.
But the Surat mint in its actual coinage never kept even to this standard, for
by assays of its rupees for 7 years viz: 1773, 80, 81, 82, 83 and 84 (sic) the
alloy had increased above the standard from 1569 to 3364 [this doesn’t make
sense].
In 1775 the Court of Directors
recommended the rupee to be of the same fineness that it had been in 1767. That
is to say that it should be of the same fineness that it had been in the time
of Hyther Coolie Khan, or that it should contain no more than 2.18 per cent of
alloy (see regulation by the Surat Committee in August 1767). This, like all
other repetitions for the standard of the
Last of all I observe that in February
1789 the chief fixes that standard of fineness for the
What the present [regulation] is for
fineness I do not know but it is very necessary to get this information from
The diary of the mint of
I think it would be advisable to keep at
present to the standard now fixed for the
I have had but a few hours to consider
this
Letter to Alexander Ramsay, Magistrate
at
I enclose a copy of the report of Mr
Helenus Scott on the value of the rupees lately coined in the Bombay mint in
view to the Surat standard and which were indeed intended by the Government
here to be in exact correspondence with it; and the difference if any (taking
fineness and weight together) seems so small that I concur with Mr Scott in
thinking it need not occasion with respect to the few that have been issued any
alarm to the money interests either of Surat or Bombay, being from other assays
made here probably still within the constituent admixture of pure silver and
alloy, in a considerable proportion of the Surat rupees coined at the mint
there, that are now, nevertheless, in a course of circulation, equal even to
the standard value of the Bombay rupee; and which it might prove very
inconvenient and prejudicial to raise a question about. I wish you and the mint
master and the other gentlemen at Surat to avoid as much as possible its
further discussion whence also the present degree of [demur] will I trust,
entirely subside, the more especially when it is known that the coinage here
has been stopped since the receipt of your notice, until an answer be received
to a letter Mr Grant has by the land post written to your mint master to
procure an authentic statement of the real standard ingredients in the Surat
rupee as now coined to the end that the very same may be observed here, that
which has been lately fixed on having been taken from the general result of Dr
Scott’s assay of those now in circulation, which under the denomination of
Surat rupees constitute the general, or rather the only, received and ordinary
circulation at the Presidency, although they are knownto be all considerably
inferior to the proper Bombay rupee, which hath long ceased to be met with from
having during many years been struck at our mint.
Resolution
The Board taking into consideratio the
stae of the coinage above mentioned and the necessity of establishing a full
and effectual contract over the mint, are of opinion, without meaning in the
smallest degree to derogate from the merits of Mr Simpson in whose conduct on
the contrary has been perfectly satisfactory to Government, that the business
of this department may be more effectually conducted and contracted by a person
permanently resident on the spot than one whose public avocations necessarily
require his chief attendance at a distance from it. With this view solely the
Governor in Council is pleased to relieve Mt Simpsonfrom the charge of this
department and to rest it in Mr J.A. Grant as mint master with Doctor Helenus
Scott as assay master an appointment which appears to have become essentally
necessary for the better regulation of the coinage of this Presidency and for
which Mr Scott’s knowledge in this particular branch eminently qualifies him.
In communicating these appointments to
the parties they are to be additionally advised that it is the Governor in
Council’s order that all silver presented in future or until at fursther orders
at the mint is to be coined into rupees with an admixture of ½ per cent only of
alloy whereby it is presented that the standard of the coinage in this mint
will be rather higher than even the very best Surat rupee now in circulation.
The alloy is also to consist of lead
instead of copper whereby a greater similarity will be preserved in the colour
and appearance of the respective coins.
In nominating Mr Grant to the office of
mint master, the Governor also recommends and it is accordingly resolved that
the office of General Storekeeper held by that gentleman be abolished from the
date and that the same be only communicated to the departments concerned.
Resolved also that Mr JA Grant and H.
Scott be required to take into their immediate consideration the present stae
of the Bombay mint and the relation it may be found to bear to that of Surat
whence they will report with as little loss of time as possible the regulations
they may deem most effectual to preserve the purity of the coins in both mints
equally free of diminution adding what in their opinion would be most
advantageous standard to be established for the general silver currency under
the jurisdiction of this Presidency.
Resolved that the Assistant Treasurer be
instructed to select all the rupees now in the treasury of the late coinage and
transmit the whole to the mint where the mint and assay master are to be
instructed to recoin them as well as such other rupees of the same description
as there may now be in the mint agreeably to the above.
They are also to include in this report
the whole of the charges of coinage now incurred in the
Letter from the
The letter starts with an introduction
and then describes the various people in the mint and their activities:
Bhurteah
It was, in former times I understand,
the custom for the people who bear this designation and who have gradually
increased from four to their present number twelve as their means admitted of
paying the usual Nuzzerana, to make their own agreement with the possessors of
bullion and bringing it into the mint, to be themselves responsible for the
stipulated return. In the course of time however the competition of parties to
monopolize the business producing (as might have been expected) the failure and
ruin of some of them and a considerable loss to those whose bullion they had received,
the [credit?] of the mint became of course, materially affected & it was
thenceforth established that all bullion should be brought to the [Chabooha]
and that the Sarcar should be responsible for the return at a fixed rate. This
practice has since prevailed and the Bhurteahs may now be regarded as
contractors with the Sarcars from whose agent the Darogha or mint master [may?]
receive the bullion making the same return as is delivered to the merchant with
the difference of the customs and fixed charges. […] this profit under the old
Government amounts nearly to an impossibilty since a general collusion would
seem to have prevailed throughout, paid for by the Bhurteahs and in course
allowed by the Daroghas. The stipulated returns however to individuals is 214 ¾
rupees per 100 Spanish Dollars and 207,,92 per hundred German Crowns at which
rate the avowed profit to the Bhurteahs is 2 Rupees per hundred dollars of
either description.
Chandee Sodahs
These people (22 in number) have the
exclusive privelege of milling the silver brought into the mint into plates
(chandee) mixing at the same time proper proportion of alloy. They receive the
dollars for this purpose from the Bhurteahs under whose superintendance they
are milled and are recompensed with Rs [1/2] for every fourteen plates which
they are prohibited by a [Muchuler] from making of a greater size than five and
thirty dollars each
Chandee Juthah
The plate having cooled and been
separted from the [cupel] are carried to the Chabootra where they undergo an
examination by a Chokesey (mention hereafter) and if apparently correct receive
a stamp as an authority for the Juthas or cleaners (who are 10 in number) to
perform their duty by hammering them until perfectly free from all the little
particles of lead or the cupil which adhere to them in melting. Their
recompanse is half a rupee per fourteen plates.
Godasgur
When the operation just described is
completed the plates are returned to the Chabootra and re-examined by the
Chokesus under the immediate superintenance of the Mint Master and his people.
If found clean they receive a second approving stamp sanctioning of their being
milled in a crucible for the purpose of being run into ingots. This is the
business of the Godasgurs (who are eleven in number) and is recompensed by half
a rupee for every fourteen plates. This part of the process takes place as well
as the assay [insmall] immediately under the eye of the Mint Master who is
careful that all the ingots be collected and (with the exception of two selected
for the assay) the whole deposited in a bag which is closed and sealed with his
seal until the result of the assay is known.
Chasneegur
The milled metal being carefully poured
from the crucible into shapes for the ingots, the first and last ingot are
selected for the assay and the requisite weight being cut from the centre of
each is delivered to the Chasneegur. The loss that is sustained by the assay
determines the acceptance or rejection of the whole contents of the crucible
& on this part of the process does everything depend. The Chasneegurs
receive half a rupee for each assay which is divided amongst five of them.
Zerraban
When the assays are terminated, such
part of the silver as equals the standard is called for and delivered by weight
to the Zerraban of whom there are eight principal ones responsible for the
others they employ. These divide the plates into the standard weight of the
sicca, round them and prepare them for the impression. The Zerab receive Rs
2.2.25 per mil and has moreover has a surplus weight delivered to him equal to
2 ½ tola in each thousand rupees weight, of which Ra 1 ½ is considered as a further recompense for his
labour, the residue as an allowance for wastage.
The Zerab having completed his portion
of the process as above described returns the rough rupees to the Chabootra
where as a preventative being sent to the sicca Khanah and a preventative to
fraud on his part a handful is taken promiscuously from every thousand and each
one compared with the most standard considering the […] materials with which
the artisans of this countryperform their work it can scarcely be expected that
the exactist precision should prevail throughout, mean therefore of no such
directions appearing as to authorize a suspicion of intentional neglect. The
rupees are weighed off against the standard weight of fifty rupees and proving
right in this process pass again under examination for correctness of shape,
freedom from crack or holes and are then delivered into the sicca Khanah.
The duties of the sicca Khanah it is
almost superfluous to describe since they consist only in placing the round
piece of silver between two stamps, the upper whereof receiving a blow from
ahammer. This terminates the process of coining. The [sickelees] who hold the
stamp and the [Gunwahees] who deal the blow receive at the rate of five annas
& a half and the engraver five annas per mil.
Chokesey
The duty performed by these people, of
whom there are five, has been described in the course of the preceding detail.
They are goldsmiths by profession and are conversant or ought to be in the
nature and qualities of all metals. On their ability and fidelity the correct
execution of the business greatly depends & their recompense is half a
rupee per thousand.
Exclusive of the people here described
there are others also entertained under the denomination of [Khakohe] or
washers of the ashes and Koty [Khurrur] or those who revivify the lead used by
the [sodahs] in refining the silver, whose profits are altogehter adventitious.
There are likewise several others employed in the process of making [Neda] or
pure silver for the purpose of wire drawing etc, but these are wholly
unconnected with the coinage and the revenue of yields is paid in [Mocaul] to
the collector.
In thus [in…ing] minutely into
everything that relates to the coinage of silver and of the nature of each
individual’s process, your Honble board are I trust afforded the information
that is required in the first part of Mr secretary Grant’s letter now under
reply, but before I venture to enter upon an estimate of the amount of those
profits of the coinage for the last three years must be had refrence to and the
result will be as particularized in the
sunsequent table.
Account of the coinage of gold in the
|
From
|
657.1 |
|
1798
to 1799 |
420 |
|
1799
to 1800 |
677.6 |
|
Medium
of three years |
584.13 |
Account of the coinage of silver in the
|
|
Rupees |
|
From
May 1797 to |
39200 |
|
1798
to 1799 |
1,375,635 |
|
1799
to 1800 |
694,911 |
|
Medium
of three years |
703,248
2/3 |
Account of the coinage of copper from
|
|
Maunds |
|
1797
to 1798 |
1461.24¾
|
|
1798
to 1799 |
1608.10 |
|
1799
to 1800 |
1495.34¼
|
|
Medium
of three years |
1498.24¾
|
Before I proceed further, I conceive
also it may be proper for me here to state that what is comprized in the account
of gold and copper coinage is not by any means to be understood as intended
only for the currency of the place, since for many years past the coinage of
gold has been confined to a conversion of the mohurs of Auranzub’s and
antecedent reigns into half and quarter mohurs of the present sicca for the
exclusive purpose of women and children’s ornaments, whilst that of copper has
also been principally of the description called Khoondeh alamghuree and
calculated only for currency in the adjacent villages..
To describe the coinage itself appears
to be the next desirable object since in the charges attendant on that of gold
and copper is involved, equally with the silver coinage, a proportion of the advantages
derived by those who have employment in the mint. In treating upon this part of
the subject I shall at the same time take advantage of the opportunity to
include under it an account of the customs collected by the sarcar as well as
the charges attendant on the process.
Gold Coinage
If my information be correct, the gold
coinage of the
There is then a list of the amount paid
to the different people (as described above) for gold coinage.
Silver Coinage
Reference to the records of the
settlement has shown repeated variations to have occurred in the silver
standard of this mint and to carry my information on this subject to the remotest
period in my power I have availed myself of the [recedintal?] discovery of a
quantity of rupees in a house at [Rhanden] about three months ago, to ascertain
even the standard of the reign of Shah Johan, which according to an assay made
by the Chasneegur of the mint proved the rupee to contain only eighteen rice of
alloy in 543 rice weight, equal to 330149 per cent.
In following up my inquiries on this
subject I have found the standard undergoing constant alterations as the
neglegence of the mint people on the one hand or the exactions of Government on
the other (with the consequent disinclination of the possessors of bullion to
resort to the mint) have imposed the necessity of lessening or increasing the
proportions of alloy to correct the baseness of the currency or to augment the
return to the merchant. In the course of these variations we see the alloy in
Hyder Kooly Khan’s times at 12 rice in the rupees. During the government of Teg
Beg Khan at 24 rice, subsequently changed to the
The charges attending the coinage of
silver are estimated at 25 per mil whereof Rs 9.2.50 are the customs collected
for and divided by the Honble Company, the Nabob and the marrattas and 1.50 an
impost by the Nabob to defray the petty expenses of the mint, such as iron for
the stamps, oil for the Chokey etc etc. The remaining 15 per cent comprizes all
incidental charges as per the following accounts.
There is then a chart showing the
breakdown of the expenses for coining silver.
Copper Coinage
Under this denomination are pice of two
descriptions: one of a large die called Khoordar alumghuree, twelve hundred to
the maund and intended for the currency of the [circumjacent] country. The
other, sixteen hundred to the maund for the use of the town. The customs on
this coinage are 1.50 per maund exclusive of a balae of five annas and a half
exacted or relinquished by the Nabob according as the price of copper stood in
the bazar, & of a further collection of 0.0.30 per maund made for the masha
kutch or petty expenses.
There then follows an account of the
expenses of coining copper.
In regard to the system itself in which
you are also pleased to call for my opinion I must confess that considering one
circumstance with another tho’ under the disadvantage of but little experience
in the line, I am not sensible of being able to suggest any improvement in it.
That all bullion should in the first instance be brough to the [Chabootra] and
the proprietor have to regard Government as their security, seems indispensibly
necessary. That any servant of the Company should be sufficiently master of the
business to undertake the management of it throughout the whole process appears
altogether unlikely and would therefore induce in preference its being
entrusted to a native or natives under agreement to make a stipulated return
and under ample security to Government for the bullion that may be from time to
time entrusted to them. To this may also be subjoined a penalty against fraud
or tricks which with unwearied vigilance the mint master cannot surely fail of
effectively preventing them. That the number of people now entertained in the
capacity of Bhurteahs should be continued is certainly unnecessary since the
profits of the business cannot be so great as to afford a maintenance of twelve
persons of this description without constant attempts at fraud. The other
persons whose avocations are delineated in the foreging detail must still
continue to be employed, and in regard to an establishment, I respectfully beg
to submit the following as that which occurs to me to be indispensible for the
correct executionof this very important trust.
…
The next and indeed only remaining
object on which you have done me the honor to call for my report is an
enumeration of the other coins currect in Surat with their relative value to
the standard of this mint and any means that occur to me for preserving the
Surat rupees in the circulation instead of the inferior Broach rupees.
Altho’ a great variety of coins are in
the course of the influx of strangers and constant intercourse with different
parts of Hindustan brought into Surat, the only two silver coins that can be
properly considered the currency of the place are the rupees from this and the
Broach mints. In order to ascertain in the correctest manner the relative value
of these I have procured three of the latest coinage from the Broach mint and by
an assay made by the Chasnegurr of this have established it to be as follows:
One rupee of 546 rice contained pure
silver 480 ½ alloy 65
One rupee of 546 rice contained pure
silver 486 ½ alloy 59.5
One rupee of 546 rice contained pure
silver 474 ½ alloy 69.5
…
Conformably with the closing paragraph
of Mr Grant’s letter, I have hitherto continued to conduct the business of this
department according to the subsisting regulations and have in course collected
and retained in deposit, the usual entrance fees to Government from those who
it has been found necessary to entertain as my accounts will have evinced a
complete list of those fees and of the [sallianahs] paid to the Nabob by the
people subordinate to the mint has already been laid before the Honble the Governor,
and a further copy is hereunto subjoined in the hope that I may be honored with
instructions as to the future receipt or abolition of them.
Letter from the
I was just closing my report on the
subject of the mint when I had the honor to receive your commands through Mr
secretary Grant of the 8th instant.
Although that report contains the substance
of those commands I conceive it my duty to reply to them separately.
It appears that after constant
alterations in the standard of silver for coinage in the Surat mint, Mr
Griffith, then chief, fixed it in September 1793, at 508 rice of pure silver
with 44 rice of alloy, agreeably whereto the rupee which is 548½ rice in weight, contains 504.78 rice of pure
silver and 43.72 rice of alloy, or the alloy is equal to 7.97 per cent, and at
this proportion it has ever since remained.
Resolution of 19th November
Resolved that the Mint Master and Assay
Master at
Letter from Simpson and Grant (old and
new mint master at
In obedience to your orders of the 14th
instant we beg leave to acquaint you Mr J.A. Grant has this day received charge
of the mint with several books and papers.
Letter from the mint and assay masters,
dated
In answer to your commands of the 14th
of Novemebr, we have now the honor of replying as far as we can, from such
information as we have been able in so short a time to procure.
In paragraph 1 of that letter you direct
us to take into our consideration the present state of the
We have attentitively read the very
distinct report of the
To show this in a clear light we have
found that a quantity of Spanish dollars were of late sent to the house of
Smith, Forbes and Company, which being of recent importation will enable us
with precision to estimate the weight and value of the dollars now in question.
5 chests of Spanish dollars in tale
20,790 at 1155 dollars per 1000 ounces, are equal to 1800 ounces
6 chests ditto containing tale 27,000
Spanish dollars or 23,382 ounces at 1154¾
dollars per 1000 ounces
6 chests ditto containing tale 36,928
Spanish Dollars or 32,000 ounces or 1154 dollars to 1000 ounces
If therefore we allow that 1155 dollars
are equal in weight to 1000 ounces, 100 dollars will be equal to 86.58 ounces.
In every ounce there are 480 grains troy so that 100 dollars are equal to
41,558.40 grains, but as the dollar contains 10 per cent of alloy, in order to
ascertain the amount of pure silver in the dollar, we must deduct one tenth.
From this then it is evident that 100 dollars contain 37,402.56 grains of pure
silver.
As the Surat rupee contains 7.97 parts
of alloy, the whole rupee weighing 179 grains contains 164.73 grains of pure
silver, and if by this number we divide 37,402.56, the number of grains of pure
silver in 100 dollars, we shall have the number of Surat rupees that 100
dollars ought to produce which is Surat rupees 227..26.
We observe that the
It will be evident from what we have
said that the profit in both cases is considerable and that it falls
unaccounted for into the pockets of the contractors. It is to be feared that in
bullion, and with coins, the value of which are less understood, that this
abuse is still more considerable. There ought to be no secrets in the
transactions of a mint. Every man should receive the whole number of rupees
that his silver produces after the deduction of such a public duty as
government may choose to impose.
Iate business of the coinage be put
under the direction of a native, who shall agree to accept of a fixed salary,
or rather of a certain percentage every thousand rupees that he coins. From
this sum he should pay the artists employed in the different operations of
refining, cutting the rupees, stamping them etc. By
You desire us, onble sir, to report what
we conceive would be the most effectual means of preserving the purity of the
coins in both mints. On this subject we can suggest nothing more effectual than
the Bengal Regulation which orders occasional visits to be made to the mint,
and at unexpected times, when pieces are to be taken from the hands of the men
at work, and assayed. There appears to be no principle in human nature but this
constant fear of detection by which we shall be able to preserve the purity of
the coin.
With regard to the standard of the
rupees to be coined, you have already determined that they be made of the
In respect of the weight of the rupee of
On weighing some of the rupees both of
It would be desirable that each mint
should be furnished with, at least, one set of accurate weights and scales from
With regard to gold it has now become
absolutely necessary that some new regulations should be adopted here. It has
been found to be requisite to all governments who employ both a gold and silver
coinage, to adjust in the coins the respective values of those metals, by the
value they respectively bear to each other in the market. A little lattituse
seems to be admissable without inconveniency, but this must not extend far. I
June 1766 the
We shall now trace as far as the
imperfect records of our mint permit, the progress of the coinage of gold at
this Presidency.
It appears by a letter from
In this coinage the rate of pure gold is
to that of pure silver as nearly 14.9 to one. The proportion that silver bears
to gold in this coin is nearly or entirely what it ought to be, and corresponds
with the value of Venetian gold when sold in the bazar as ascertained by the
committee on the coinage in 1796. They found that Venetions are purchased at a
rate which gives the value of gold to silver as one to 14.98.
While the Bombay rupee continued in
circulation, the proportion thus fixed on between silver and gold in our
coinage was unexceptionable, but when the Bombay rupees had disappeared, by the
operation of the inferior rupee of Surat, and when this became the only silver
coin in circulation, it is evident that the proportion between silver and gold
in the rupee and gold mohur, was destroyed. The regulation for the purity of
gold still remained and a
As the
We shall find much more difficulty in
preserving here the true standard of fineness of the gold than of the silver
coin. The natives are acquainted with no method besides the touch of
determinign the value of gold, a practice that is liable to the greatest deceptions,
being merely a guess from colour, and any colour may be perfectly imitated by
the base metals.
In answer to the 2nd
paragraph of your letter regarding the charge of the coinage, inclusive of fees
and emoluments to the mint master, we beg to refer you to the third paragraph
of this letter, where we have stated the mode of conducting the mintage by a
contractor, so that the expenses of the mint do not appear. There has been no
fee allowed to the mint master on gold, and it is but a few days ago after a
long period that our silver coinage has begun again. In consequence of an
application of Mr DeSouza’s, Government were pleased to relinquish their duty
on his coinage but they allowed a fee of ½ per cent to the mint master, which
of course remains unappropriated.
There has been a small establishment
only paid by the Company, on account of the mint, at the following monthly
rates:
|
1
[Purvoe] |
25.1.33 |
|
1
ditto |
8 |
|
1
assay master |
4 |
|
4
Sepoys |
16 |
|
|
|
|
|
53.1.33 |
We hope Honble sir, that we have said
enough to show that a change is highly necessary in the mode of conducting the
mintage at this Presidency, and we shall by your authority endeavour to make
such alterations as appear to be beneficial. This cannot be done at once, nor
can we hope to see the business carried on for some time to come, with the
expedition and accuracy that is so very desirable.
From the calculations that we have made
regarding the produce in rupees of the dollar, you will be able to judge what
duty, without injury to the public, may be laid on the coinage, the actual
expenses of which should not equal 2 per cent.
Report from the mint and assay masters,
dated
Read also another report of the Mint and
Assay masters being in reply to the reference made to them under the 17th
instant [i.e. 17th Jan 1810] on an application from Bruce, Fawcett
& Co to coin mohurs in the Bombay mint.
We find on enquiry of Lalldass, who many
years ago was a contractor of the mint at this place, that the Surat gold mohur
was coined (of late they have coined no gold) of 95 and 96 touch, for one or
two touch is as near to the standard as the native can, with any certainty,
attan. Of such a standard, we can easily coin gold at this place and with the
Resolution of
On full and mature considerationof the
preceding reports it is resolved to allow the coinage of gold mohurs in the
Bombay mint of the standard specified in the 17th paragraph of the
Mint and Assay Masters report of the 28th November last in pursuance
of which the Board conclude that the following rules will be deemed applicable
and as such accordingly adopted:
1.
That
the silver rupee like that of
2.
That
the gold mohurs shall be of the same weight and standard as the silver rupees
and shall pass for 15 rupees.
To provide a fund for the future general
expenses of this detachment it is also resolved that a duty be collected both
on gold and silver of 3 per cent and to be considered as the only deduction to
which either coinage in the Bombay mint is for the future liable. The full
amount of this collection to be held at the disposal of Government in such a
way as shall hereafter be decided upon.
Letter from the mint and assay masters,
April 1801
In pursuance of your Honble Boards commands
of the 27th January last we have, after much hesitation and delay
got the present mint contractor, Narondass Toolsidass to agree to carry on the
business of the coinage and to pay all its expenses (except such servants as
have been usually kept up by the company) and at the following rates:
For gold he is to receive for every 100
mohurs that he coins, one and one quarter, but out of this he is to furnish the
silver alloy.
For silver he is to receive for every
100 rupees that he coins two and one half rupees
For the due performance of his duties he
agrees to enter into a penalty bond with proper securities for a lac of rupees.
This bond should specify that he is responsible for issuing no base coin; for
keeping it as near as possible to its standard; and for returning to the mint
master the whole of the gold or silver that he receives from him.
This is the best agreement we can at
present make with Toolsidass; nor do we think considering the importance of his
situation that his profits can be much too great.
There is at present a great scarcity of
silver owing, it is said, to the failure of many of the great dealers in cotton
in Broach, Guzratt Etc etc, so that the business formerly transacted by bills
can now be carried on by ready money only. From this it has arisen that it is
chiefly gold that is in circulation here. It answers very well for large
payments but not for small ones. It would therefore be a conveniency to the
public if government would authorise us to coin a certain proportion of the whole
coinage of thirds of a gold mohur. We should on several accounts prefer the
thirds to halves.
The board having taken into
consideration the above letter in continuation of their proceedings in the
public department of the 27th January respecting the mint it was on
the 2nd instant resolved that the duty of 3 per cent ordered to be
levied on silver and gold being the only deduction to which either coinage in
the Bombay mint was now liable, be appropriated as hereafter specified:
The principal native overseer in the
mint to receive on the gold coinage 1¼ per cent which was considered as a
sufficient allowance for his own trouble and also for defraying all other
expenses, inclusive of alloy and of course of pay to all the artificers and
labourers employed in the different operations of the coinage of gold, whilst
the remaining 1¾ per cent was ordered to be deposited in the treasury liable to
such disposal thereof as government might hereafter direct in payment of the
allowances to the mint master and assay master or otherwise.
On silver the native overseer to be
allowed 2½ per cent to answer every description of charge as above mentioned
and the residuary ½ per cent to be deposited as above directed in repect of the
gold coinage.
The Company’s solicitor was on the same
day furnished with a copy of the secretary’s letter to the mint and assay
masters of the 27th January and of their reply, with directions to
prepare a penalty bond to be entered into by Narondass Toolsidass, the
principal native overseer in the mint with proper securities for one lac of
rupees as suggested in the second paragraph of the last mentioned letter.
It was at the same time ordered in
pursuance of the recommendation contained in the last paragraph of the above
letter that for the convenience of the public the coinage of thirds of a gold
muhur be authorized.
Copies of the above resolutions were at
the same time transmitted to the Accountant General for his information and
guidance.
Letter from Mr Grant (
I beg leave to acquaint you for the
information of the Honble the Governor General in Council that, in pursuance of
the directions conveyed to me in your letter of the 2nd ultimo, I
have paid into the Honble Company’s treasury the proceeds of the commission
levied on the coinage in the Bombay mint on account of government, since the 14th
Novemebr last (the date of my appointment to that office), amounting to the sum
of rupees 20,844.3.74½ (twenty thousand eight hundred and forty four, three
quarters, and seventy four reas and a half) as per enclosed copy of the
sub-treasurers receipt under date the 1st instant.
The sub-treasurer’s receipt then
follows.
Letter from Mr Grant (
I have the honor to acquaint you for the
information of the Honble the Governor in Council, that I have this day paid
into the Company’s treasury the sum of rupees 9,896..23½ (nine thousand eight
hundred and ninety six and twenty three reas and a half) being the amount
levied on the coinage in the mint since my report on the 1st instant
as per enclosed copy of the sub-treasurer’s receipt.
The sub-treasurer’s receipt then
follows.
It was also directed that the mint and
assay master’s salaries would be very shortly proposed to be fixed when these
officers would draw the same as others do from the civil pay office.
Letter from Mr Halliday (superindent of
police) to government, dated
In consequence of your orders
communicated to me thro’ Mr Grant three days ago, I have called the pice
shroffs before me in order to ascertain from them the reason of the scarcity of
silver rupees in circulation and have received from them the following account.
That very few silver rupees have been
coined lately in the mint. That those persons who have any silver rupees such
as the grain merchants, the cloth merchants, etc, demand 1½ and 1¼ per cent.
Besides this the great shroffs purchase
up what silver they can and send it to the northward and whenever any of the
rupees which are coined at Surat come into circulation here the great shroffs
purchase them up and send them back to Surat to discharge bills drawn by them
there, the exchangebeing at present in favour of Surat 1½ per cent. Formerly
when gold mohurs were of a superior quality then bills of exchange were paid in
that coin but since they have been reduced they do not go for more than the
quality of the gold and therefore a certain loss to the merchants. The shroffs
are opinion that if one rupee pieces & five rupee pieces of gold were
coined in numbers that the evils would be considerably if not entirely
remedied.
What becomes of the silver rupees issued
to the different commanding officers of corps every month, which on average has
been about 17,000 per month for the last three months?
At present persons possessed of silver
rupees demand from these shroffs 7.8.9 and even as far as ten pice for every
gold mohur when the regulations oblige them to exchange the same to the
inhabitants for 1½ pice.
The mint and assay masters were on the
21st instant called upon to deliver in a report on the subject of
the above letter by 23rd instant.
Letter from the mint master (J.A. Grant)
and the assay master (A. Scott) to government, dated
We have perused Mr Constable’s report on
the coinage. We approve much of the regulations that he proposes for protecting
the coins against the risk of being counterfeited and we think that what he
says in paragraph 23rd is the most deserving of attention. These, no
doubt, will have their effect, but unless we can stamp our coins in a way that
cannot be imitated in
A false coinage made its appearance here
some months ago. It probably came from a Maharatta mint where we had not the
power of getting satisfaction. All that could be done was to stop it where it
could be found in circulation. If our coins were impressed by
Our gold coins will be gladly received
in Malabar, where they will be found very convenient for they are of a
determinate weight and value and superior in the standard to the pagoda or any
gold coins to which the people are accustomed. This will give a much greater
latitude to our coinage of gold, which has hitherto been confined to the narrow
circulation of this island, and the revenue of the Compnay from the coinage
will be increased in the same proportion. But it is not only Malabar that would
circulate our gold coinage. We imagine that it would soon become current over
all the southern parts of
We have, honble Sir, recommended before
now, in the strongest manner, the adoption of
While we approve of a part of Mr
Constable’s report, we cannot do so on the whole without some reservation. In
paragraph 19, W. Constable says, “from these circumstances, the causes of which
are not unknown to government, it has happened that no standard has ever, that
I know of, been publicly declared or promulgated by the government of this
island in respect either to the weight of the coin or its fineness,
denomination, or impression. These different properties of the standard
circulation so requisite to be publicly known are not even precisely defined in
the indentures which are made from time to time between the government and the
mint undertaker, so that it would be next to impossible to convict anyone of
the counterfeiting the current coin of the island etc etc”. We are surprised at
this paragraph for nothing is more certain than that standard of both the gold
and silver coins were settled by the resolutions of government at this
Presidency at an early period and with as much accuracy as the subject can be
admitted of. In 1738 it was ordered that the silver rupee should weigh 178.314
grains and should be better than the English standard by 15 dwts. This surely
in all respects is a clear and sufficient regulation. This is the silve rrupee
that in all cases was considered by government and mint contractors as the
established rupee of the Bombay coinage, which it still continues, altho’
rupees of that standard be no longer struck, the Surat rupee being, since
Novemebr last ordered to be coined as well here as at that subordinate.
With respect to the gold mohur, the
orders of government were equally accurate and in fixing its standard they were
just and enlightened. Until 1774 the gold mohur weighed 7 dwts 1 grain and
contained one part in [90] of alloy or it was of the fineness of a Venetion. In
this regulation the value of gold in proportion to silver was over-rated and
accordingly government in August 1774 called in the gold mohurs and fixxed
their standard and weight. The weight was that of a silver rupee or 178.31 grains
and the standard that of a Venetion, as before. This regulation did very wisely
determine the value of gold in proportion to silver as 14.9 to one. This is the
regulation that subsisted until Novemeber last. There surely has never been a
mint master nor a mint contractor who could, as Mr Constable thinks, be
ignorant of those standards for silver and gold (see on this subject a letter
to government from Mr [Galley] mint master in 1790). The mint contractors in
their contracts are expressly bound to coin according to the existing
regulations and have been perfectly acquainted with the established standards.
By the regulation of November last, where everything is as clearly defined as
in those that preceeded it, the value of gold is fixed to that of silver at 15
to one, a proportion extremely near to the preceding regulation of 1774. The
gold mohur and the rupee are each to weigh 179 grains, and each to contain
14.26 grains of alloy or nearly 8 per cent. All these acts appear on the
records of government or the mint.
In paragraph [20 or 26], Mr Constable
thinks that our gold coinage is at present rather over-rated with regard to
silver. This has been a matter of much consideration. The object was to fix
them with perfect justice. The market will vary somewhat at times with respect
to their different values, but if any error has really been made, we do not
think with him that it can have a salutary operation. It should be corrected.
Mr Constable begins by saying in his 18th
paragraph that, “at this time the gold mohur is the only species of which there
can be said to be said to be any standard for all attempts to preserve a
standard of silver circulation have proved abortibe etc etc”.
Mr Constable does not seem to be
sufficiently acquainted with the history of our mintage. We have at this moment
a very accurate standard fixed by government for the silve rupee, both in
respect to weight and prity, and by this standard we coin every day
considerable sums of money.
To the remainder of this 18th
paragraph we have to answer that on our getting an influence in Surat, an
agreement was made with the Nabob to allow his rupee to pass thro’ the whole of
this Presidency as a legal coin, and on a footing of equality with the Bombay
rupee at the regulated value of the Bombay rupee. He soon, however, allowed it
to be debased, while this government kept up to the original agreement in their
coinage. The consequence of this is evident. The
We are not ignorant of the difficulty of
keeping a sufficient quantity of silver in circulation of this place and this
arises from very different causes than the purity of our rupee, its perfections
or its imperfections. It arises from the great purchases that our merchants
make of cotton or of goods in the Guzarat, or the Northern Countries. The
amount of the purchase of cotton alone may be estimated at 60 lacs of rupees a
year. Our merchants who purchase it get bills from the Bombay shroffs on Surat
and other ports to the amount they require.Our shroffs repay those northern
shroffs by accepting bills on Bombay for the purchase of goods at this place or
by sending them silver. As the value of the goods that are carried from hence
is but small in proportion to what are brought from Guzarat, the
It has been supposed that by putting in
a great quantity of alloy in our silver, for instance one half, we should keep
it to ourselves. It is probable that we should, but we suppose that government
will never be disposed to try such an experiment. The alloy of our silver has
been fixed at 8 per cent, which is nearly that of
W. Constable says P. 20, “ It is as
impossible now as it generally has been to establish effectually our exclusive
standard of the silver coin”. In this we can conceive no impossibility nor
difficulty. A standard, and a very precise one, has long existed. Another has
lately been established by government and our mint is every day issuing silver
coin by this standard, which, in point of accuracy, would not, we hope,
dishonor any mint in
On the subject of this letter, we beg to
refer government to their own records, in many instances to the mint book of
Bombay and Surat which, altho’ mutilated, will show much of what has been done
with regard to the coinage, and above all we beg to refer them to the reports
of the committee on the coinage in 1797.
We should not have taken the lierty of
occupying so much of your time but, as Mr Constable’s report will appear in
Letter from the mint master (J.A. Grant)
and the assay master (A. Scott) to government, dated
We have received Mr secretary Rickards’s
letter of the 21st instant.
We agree with Mr Halliday that the
issuing of gold pieces of the value of one and of five rupees will afford a
considerable convenience to the inhabitants of this island although it may not
in all respects answer the purposes of a silver coin.
We find that a few gold mohurs have been
occasionally sent to the northward by the shroffs, but the number of those were
really very insignificant as they are received as bullion not as coin.
We have not doubt but that the silver
rupees issued monthly to the troops are carried away in several ways. Many of
them are paid to shopkeepers & are thence carried to the shroffs, and a
good many also are sent to the Mahratta country monthly by the sepoys who have
left their families behind them.
On the last of the above recorded
letters it is resolved that the mint master be authorised by way of experiment
to coin gold pieces of the value of 5 and 1 rupee to the amount of a lac of
each description when, if they be found to answer the purpose intended, this
amount may be increased.
Letter from the mint master (J.A. Grant)
and the assay master (A. Scott) to government, dated
In our letter of the 28th
April last, we had the honor to report to you that Narondass Tulsidass, the
principal native overseer in the mint, was ready to enter into a penalty bond,
with proper secirities to the amount of a lac of rupees, for the due
performance of his duties, but having afterwards found it impracticable from
the largeness of the sum to fulfill that engagement the deed still remains to
be executed. It has, however, been lately intimated to us that Mr Henry Fawcett
is willing to become surety for Narondass Tulsidass in the sum of rupees fifty
thousand, an offer which we beg leave to recommend the acceptance, being
satisfied that the amount is sufficiently considerable to answer every
necessary purpose.
The bond should specify that the native
overseer is responsible for issuing no base coin; for keeping it as nearly as
possible to its standard; recoining of a proper standard at his own expense all
that shall be discovered to be exceptional; & for returning to the mint
master the whole of the gold and silver that may be delivered to him
Letter from the assay master to
Account of the revenue of the
Letter from PA Grant, Mint Master at
Bombay to Bombay Board dated
In answer to your letter of the 13th
instant enclosing for my report an extract (paragraph 34) of the commands of
the Honble the Court of Directors in the public department, dated the 31st
December last, I beg leave to submit to you for the notice of the Honble the
Governor in Council an account of coinage in the mint at this Presidency during
the last year, inclusive of duty collected as well to defray the expense of the
establishment on account of the Honble Company.
From this statement it will appear that
the coinage of silver during that period amounted to Rupees 484,303 . 2. 25 and
of gold to Mohurs 156,942 or Rupees 2,354 . 1 . 23 and that on the entire amount
a duty of 3 per cent has been collected, out of which ½ percent on silver and ¾
per cent on gold have been realized on account of the Honble Company, and
whilst the residuary 2/4 per cent on silver and /4 per cent on goldhave been
appropriated by the native overseer in payment of wages to himself and to those
employed by him as authorized by the orders of Government of 2nd May
1801.
To shew how far the receipts from this
department exceed the charges incurred by Government I beg leave to otice that
during the last year I paid into the treasury the sum of Rupees 44408 . 3 . 43
½ whilst an account of the Assay Master’s and my own salary and of pay to the
[Purvoes?] and Peons attached to the office, the disbursements amounted to
Rupees 24636 thus leaving to Government a surplus revenue from the mint of
Rupees 19772 . 3 . 43 ½
As to the general effect of the
regulations now in force in the mint, it may, I believe, be said that the
operation of the new system has been attended with all the advantage expected from
it, but as this subject has been treated of in a memoir submitted to Government
by Doctor Scott, the Assay Master, in the month of December last, and since
transmitted to the Honble the Court of Directors, I cannot better acquit myself
of this part of the duty assigned to me than by refering to that paper for an
account of our coinage and of the means suggested for its [moderation].
PS In addition to the reference made to
the Assay Master’s memoir as per concluding paragraph of the above letter, it
is necessary that I should remark that in pursuance of the orders of Government
of 5th of February last,founded in Doctor Scott’s previous
suggestions, the gold coins in the mint have since that period been raised two
per cent or from 92 to 94 touch so as to contain in 100 parts no more than 6 of
alloy. All the gold coin of this improved standard is distinguished by the
insertion in small characters on the stamp of the present year, 1802.
There then follows a detailed breakdown
of the number of gold coins produced. It shows the person(s) presenting the
gold for coinage and the month of coinage. There is also information about the
silver coinage, but not as detailed a sfor the gold.
Letter from PA Grant, Mint Master at
Bombay to Bombay Board dated
He reported that the roof of the mint
had collapsed and a wall appeared to be flling down. He requests permission to
get it repaired. This was granted.
Letter from the Superintending Engineer
to
Reported on the damage to the mint and
gave an estimate of the cost of repairs. It was agreed that the work should be
put out to tender.
Proposals reviewed at meeting of
A number of proposals for repairing the
mint buildings were received. It was agreed that that of Ragoonath Wittorjee
should be accepted.
Contract between Ragoonth Wittojee and
the EIC ,
The contract is to repair various parts
of the mint buildings
Letter from Mr Grant and Mr Le Messurier
to
We beg leave to acquaint your Honble
Board thet in pursuance of the directions conveyed to us in your secretary’s
letter of the 7th instant, Mr Le Messurier has this day received
charge of the office of mint master with the books and papers appertaining to
that department.
Letter from Mr Le Messurier to
He submitted a statement showing the
duty collected on the production of gold single rupees minted during August 1802.
Letter from Mr Le Messurier & Mr
Scott to
According to your orders of the 21st
instant we have enquired concerning the coins brought from
Resolution
On the ground of the above opinion the
foreign coins tendered by Assistant Surgeons Colqahoun & Grisdale are
ordered to be accepted at their current exchange & recoined in the mint.
Letter from the mint master (P. Le
Mesurier) and assay master (H Scott) to
The scarcity of copper money has become
so great that it is now very difficult to pay the troops or marine, or for the
people in the buzars to carry on their small transactions. The price of copper
is usually from 14 Rs to 16 the
If at the lowest of these rates (17.1
per maund) we were to coin copper money here of the same weight and fineness
with the present coin, a considerable loss will arise to the Honble Company. A
maund of 28 lb is coined into 980 pice which are worth 20 rupees. But a maund
costs Rs 17.1. Charges and losses on coining Rs 6.2. Total Rs 23.3.This would
therefore produce a loss to the Company of Rs 3 An 2 on each maund.
In order to obviate this loss & at
the same time supply a copper coinage we would recommend a reduction of weight
in the coin so that a maund may be coined into 1200 pice instead of 980. Twelve
hundred pice are worth 24 rupees so that the Company will be very little more
than indemnified for this coinage.
An Avoirdupois pound contains 7000
grains, which, multiplied by 28 gives 196,000 or the number of grains in a
The present copper coinage consists of
four values. 1st double pice worth 8 reas each. 2nd pices worth 6 reas each.
3rd single pice or 4 reas each. 4th half pice or two reas
each.
We would further recommend that the
pieces of 6 reas be no longer coined for they are easily mistaken for the 8 or
4 reas pieces & they are quite unnecessary for accounts.
Resolution dated 16th
November
Government acquiesce in the suggestions
of the mint and assay masters and authorize them to proceed accordingly,
reporting in due time on the result of the experiment now made.
Reference to exploring etc the
Letter from Le Messurier & Scott to
As it became necessary to coin copper
money at this place from a great scarcity of that which had been sent from
Europe, we recommended in our letter of the 15th ultimo a reduction
of the weight of it so that a pice which weighed of the Europe coinage, 200
grains, should weigh no more than 164 in the proposed coinage. We were induced
to this in order to save the Company from loss during the present high price of
[copper] & from being convinced this alteration in weight in a metal of so
little value would produce no material inconvenience. This has been found to be
the case.
It is not only very expensive to coin
copper in this country but it is impossible with the present machinery to do it
well. It is harder than silver of gold & the natives work it with less
perfection. On this account it is certainly desirable to have the copper money
sent hither from
Should the present price of copper in
England permit it we would recommend that the copper be sent of the same weight
that they were in 1792, for any [change] in the coinage should be avoided
unless very necessary. If however it should not be advantageous to the Honble
Company of such a weight, we do not see any material objection to reduce it to
the rate that we proposed in our letter of the 15th November. We
refer to that letter regarding the copper coins of 6 reas which weigh 150
grains. We are still of opinion that they are unnecessary or inconvenient &
that the other three pieces of 200, 100 & 50 grains each are quite
sufficient for the purposes of this place.
By the accounts of copper coins in the
Accountatnt General’s office, it appears that the Honble Company in the years
1791, 2, 3 & 4 sent them from England to the amount of rupees 70,592 . 2 .
57 by which there was a clear profit of rupees 38,194 . 2 . 75. This is a
considerable advantage & it is one that will continue for our copper coins
are in demand not only in the countries subject to the Company’s authority but
in a certain degree also in the
It would be very desirable to be able to
determine the amount of copper coin required for this side of
Mr Galley, the Mint Master in 1788
stated that the amount of copper money in circulation under this Presidency was
about the following values:
In
Salsette & [Carabjah] Rupees 25,000
Tellichery Rupees 10,000
Rupees
135,000
Since that time the whole provinces of
Malabar & Canara have come under the Company’s authority & our monay
will be received in every part of them, for altho’ they are placed at present
under the Madras [Presidency] yet the commercial connection & natural
intercourse remain with Bombay.
Upon the whole we are of opinion that
the Company may now send out from
Resolution
Ordered that the subject of the above
letter be brought to the notice of the Honble the Court of Directors by the
ships under dispatch with a recommendation that the quantity of copper coin
suggested in the concluding paragraph may be consigned to this Presidency.
Letter from Le Messurier & Scott to
We beg that you will be pleased to order
from
The mint contractor having made several
applications to us to procure for him a quantity of crucibles for the melting
of gold in consequence of the very great loss to be constantly felt from the
badness of such as are to be procured here. We are induced to solicit that you
will likewise be good enoiugh to order a
supply of 10,000 crucibles from
Resolution of
The articles above required for the mint
office were on the 15th instant ordered to be noticed to the Court
of Directors.
Letter from Le Messurier & Scott to
Mr Forbes has offered to the mint for
sale 6927 tolas of gold at 100 touch and 3240 at 98 touch, which we have
assayed. For the whole of this (one touch with another) he demands rupees 15 ¼
per tola which amount to rupees 155,046.3
This is at the rate of 15.1.39 for a
tola of pure gold and rupees 15. . 16 for a tola of gold 98 touch.
Considering the state of the market this
is an advantageous offer, by which the Compnay will clear their duty of 3 per
cent, but Mr Forbes expects that this agreement is to take place from the date
of this letter.
We request to know if you will authorize
an agreement to be made with him on these terms for the Honble Company.
When Mr Forbes delivers the gold, he
will obtain a receipt from the treasurer and mint master for the amount, and
the mint contractor will get it in such portions as he wants it by the mint
master’s notes on the treasurer, as has been customary. We beg Honble sir to be
favoured with you commands on this subject.
Resolution
It was on the 19th instant
ordered that the gold tendered by Mr Forbes as above reported should be
received ans secured during the coinage in the manner above proposed by the mint
and assay masters to which effect the necessary orders were on the 19th
instant issued by the secretary.
Letter from Le Messurier & Scott to
Syed Tuckey has offered to the mint for
sale 1500 tolas of gold of 98 touch, which we have assayed, He demands rupees
rupees 15. .16 per tola which amounts to rupees 22,560. This tender being
exactly upon the same terms as Mr Forbes, which considering the state of the
market is an advantageous offer, by which the Company will clear more than
their duty of 3 per cent, Bur Syed Tuckey expects the agreement is to take
place from the date of this letter. We therefore request you will be so good as
to inform us whether you will authorize an agreement to be made with him on
these terms for the Hoble Company.
Resolution
The above reported tender of gold by
Syed Tuckey was on the 13th instant agreed to.
Letter from Le Messurier & Scott to
Gopaldass Manordass has offered to the
mint for sale a quantity of gold bullion of 100 touch and some of 98 touch for
which he demands, one touch with another, rupees 15.1. This is at the rate of
15.1.39 for a tola of pure gold, rupees 15.-.16 for a tola of gold of 98 touch
and amounts to about 2 lacs of rupees or thereabouts. This tender being exactly
upon the same terms as Mr Forbes, which considering the present state of the
market is an advatageous offer by which the Company wil clear more than their
duty of 3 per cent. But Gopaldass Manordass expects that the agreement is to
take place from the date of this letter. We therefore request that you will be
so good as to inform us whether you will authorize an agreement to be made with
him on these terms for the Honble Company. Should this tender meet with your
sanction, we will assay it in the customary manner, when the mint master will
receive charge of it, as he did with that from Mr Forbes.
Resolution
The Board agree to the proposal
contained in the above letter and the gold is accordingly to be received from
Gopaldass Manordass for coining in the mint.
There is a coloured plan of
Letter from Le Messurier to
The time draws near when the public
buildings of the Honble Company should be put into sufficient state of repair
at least to withstand the inclemency of the approaching monsoon.Permit me
therefore to respectfully represent the present decayed state of the roof of
the mint house, which absolutely requires being put into some immediate kind of
repair so as to render it tolerably habitable for the several workmen during
the rains. The damage which it has sustained in consequence of the late
disastrous conflafration tho’ not very considerable, yet it is the chief cause
of my soliciting your sanction of expending the sum of rupees 300 on the Honble
Company’s account in addition to my annual allowance of rupees 280, which I
trust will not be considered extravagant. You may rely that the greatest
attention and will be [paid] to the strictest economy on my part.
Resolution
Ordered that the additional charge above
adverted to, be sanctioned and the mint master accordingly be advised.
Letter from Le Messurier to
I have the honor to forward an acocunt
of the profits arising to the Honble Company on the coinage, as also on the
purchases of gold bullion for one year, which nearly covers the expenses of the
mint establishment. I beg leave to notice that the principle causes of the
present reduction in this years income arises solely from the non-importation
of gold from Egypt and other parts, which there was every reason to have
expected long ‘ere this. However, I make no doubt that the current year will produce
an income which will amply compensate for the present unexpected deficiency.
There then follow the accounts of the
gold coinage. There is no mention of silver being coins at all.
Letter from Le Messurier & Scott to
Messrs Bruce Fawcett & Co has
offered to the mint for sale about 1500 tolas of gold of 96 ½ touch at the rate
of rupees 14.3.23 for the tola, which price is on the same terms with our
former purchases and considering the state of the market it is a very
advantageous one for the Honble Company. They expect that this agreement is to
take place from the date of this letter as also that the amount is to be paid
them in cash. We therefore request you will have the goodness to send us your
instructions on this.
Resolution
The mint and assay master were on the 7th
instant informed that Bruce Fawcett and Co could not be paid cash for their
above reported tender of bullion.
Letter from Le Messurier to
In obedience to the verbal authority I
received from you on Wednesday last at the Government House, to accept the
offer of gold bullion made by Messrs Bruce Fawcett & Co, on their terms,
payment in cash, I have the satisfaction to inform you that the whole quantity
being 1500 tolas 14 val has been coined to the standard of 92 touch, and the
amount purchased accordingly paid into the hands of Messrs Bruce Fawcett and
Co, which came to rupees 22,216-1-12. After paying the expenses of coinage it
yields a profit to the Honble Company of rupees 1007-2-40, which has this day
been paid into the Honble Company’s treasury.
Letter from William Crawford (mint master) & H Scott
(
Charges on
The warehousekeepers charge Rs 16.-.70
Burnage -.3.87
Minters charges for smiths charcoal etc
5.1.50
22.2.07
The above will yield in pice Rs 24
It is however to be observed that those
pice will be square like the Mahratta pice and not round. I suppose this is
very immaterial.If they are to be made round the 3rd charge will be
increased by Rs
Resolution
The mint master was on the 16th
instant ordered on the ground of the preceding statements to coin to the value
of a lack of rupees from Japan copper into square pice and annas or sixteenths
of a rupee in the proportions of 2/3rds of the former and one third of the
latter, which copper coins were to be paid into the treasury as speedily as
possible.
That’s about 50,000 annas (4 pice) and
3.2 million pice.
Letter from Crawford & Scott to
We are offered about 1500 tolas of gold
by Swabjee Muncherjee of 98 touch @ Rs 15.7 annas per tola and it is likely
that we may get about 1000 tolas more from other persons at the same rate. This
offer is one anna under the present bazar rate and after paying the mintage
will leave a profit to the Company of about 1 ¾ per cent.
We consider this offer as deserving the
attention of your Honble Board in the present scarcity of bullion.
Resolution
The tenders of the gold above submitted
was on 24th ultimo ordered to be accepted.
Resolution
The mint an assay masters were, on the
20th instant [i.e.20 December 1803], ordered to receive such gold
bullion as Forbes & Co might send to the mint for coinage on account of the
Honble Company to be settled for at the fair market price which they were
desired to ascertain and report.
1804 – Public
Consultations – nothing useful found in index
Letter from Crawford (mint master) and
Helenus Scott (assay Master) to Government, dated
We have received your letter of the 16th
instant conveying to us the instructions of the Honble the Govr. In
We shall lose no time in fulfilling
these instructions but as we consider the subject as of the most important
nature we trust that the Honble the Gov in Co will be pleased to dispose with
our observations, which are on the eve of the present dispatch, we have not
time to prepare in that full and connected manner which Mr Henshaw’s report
renders necessary.
We have however no hesitatio in offering
as our opinions to the Honble the Gov in Co that the reasoning of Mr Henshaw
shews no well grounded argument to alter the sentiments which we have had the
honor on submitting on a former occasion & we shall avail ourselves of this
opportunity of treating so fully on the subject as will, we trust, finally
dispose of it.
Resolution
Ordered that the purport of the above
report be noticed to the
Letter from William Crawford (mint
master) to Government, dated
In reply to your letter of the 23rd
instant forwarding for my report copy of a petition from Waman Ballajee carpenter,
I request you will be pleased to acquaint the Hinble the Governor in Council
that this practioner has been in the practice of making the annual repairs to
the mint buildings, that instead of applying for the superintending engineer’s
certificate, which is a necessary voucher to pass his bill, he entirely
neglected this form (with the necessity of which he was well acquainted) in the
last year until the monsoon was entirely over and when it was consequently out
of the power of the engineer to say whether the work for which he required to
be paid had been really executed.
It remains for the Honble the Governor
General in Council to decide on the sum which he will be allowed to receive.The
amount of his claim is Rs 280 but as far as I am capable of judging, I do not
think that the petitioner expended one half of this sum in the last year.
The whole of the mint buildings are now
in such a general state of decay as to require a thorough repair to prevent
them falling in during the next monsoon and as these repairs are under the late
orders of Government to be made by Captain Brookes, it will be necessary that
he should examine their present condition, when he will be able to form a more
correct judgement than I possibly can of the sum which is justly due to the
petitioner.
Resolution
The preceeding letters ordered to be
referred to Captain Brookesfor the purpose suggested by the mint master.
Letter from William Brookes (Captain of
Engineers) to Government, dated
In reply to your letter of the 28th
ultimo, enclosing a copy of a letter by the mint master, I beg that you will
inform the Honble the Governor General in Council that I have looked at the
mint and that I find that some repairs have been made to a back veranda. It is
however, now impossible for me to say what the contractor alluded to, ought to
have [been done].
The old building is in a most dangerous
state for the walls are pressed outwards and the refters in one place have
drawn from the wall plate. This part must therefore be taken down or it will
certainly fall.
I hope to be excused in mentioning a
mistake which the mint master has fallen into when stating that the repairs to
that building are placed under my care by the orders of Government.
It is only such civil repairs as are
already not provided for by contract or which are not placed under the heads of
departments. The mint has long been placed under the mint master and an annual
allowance made for the ordinary monsoon repairs, which is now requisite for the
mint buildings.
Resolution
Ordered that Woman Ballajee be referred
to the party who employed him for any remuneration he may be entitled to for the
repairs which he staes to have made to the mint office.
Resolved that Captain Brookes be desired
to fix upon a proper place within the town for rebuilding the mint office which
is to be removed from its present site and after consulting the mint and assay
masters, to submit a plan and estimate for constructing the new mint after
which the whole of that range is to be removed.
Resolution
Following a discussion of the mint and
assay master’s pay a decision was made not to reduce them, although this had
been ordered by the Court of directors. It was resolved:
In communicating this proposal to the
mint master he is to be informed that the order will not be applicable to him
unless he determine to relinquish his commercial pursuits, pursuant to the
Court’s order, his answer to which he is to be called upon to give.
Letter from Helenus Scott (assay master)
to Government, dated
Be pleased to inform the Honble the
Governor General in Council that I am extremely grateful for the unsolicited
favor they have conferred on me as conveyed by your letter of the 5th
of this month. I shall make the deposit and enter into the legal objections as
required by Government.
I may now perhaps venture without
impropriety to express my very firm conviction that this mint in common times
will not only pay its expenses but that it will with honest management be a
source of revenue can be more unexceptionable for it affect not the justice of
the coin. It is derived entirely from the purchase of bullion when it is cheap
& when by coining it a reasonable profit must arise. These purchases were
formerly made by minters & mint contractors who alone derive any advantage
from the coinage, who constantly made fortunes by it whilst the Company
expended yearly a sum of money to pay a mint master and his establishment, not
one rupee of which ever retrned to them. The sole difference between former
times and the present in this respect is that the advantage derived from
purchases was then kept for the benefit of individuals whilst it is at present
carried to the public account.
The present state of
Letter from William Crawford (mint
master) and Helenus Scott (assay Master) to Government, dated
We have now the honor of submitting to
the consideration of your Honble Board our sentiments on that part of Mr
Henshaw’s remarks as Reporter General on the External Commerce under this
Presidency which are connected with the mintage of
We are of opinion that all the
observations which Mr Henshaw has offered may be reduced to two simple and
distinct points. 1st whether the mint regulations of 1800 have, as
Mr Henshaw asserts, been the cause of a deficiency in the circulating medium,
which has produced the present unfavourable exchange with Surat and the
northward, or to what cause it is attributable.
It is our wish to avail ourselves of the
opportunity to bring the subject of the
We think we shall have no difficulty in
proving that the mint regulation of 1800 was necessary, equitable and even
indispensible; that it has produced all the good effect which were expected of
it at the period of its introduction, and none of that pernicious nature which
Mr Henshaw has attributed to it.
Considering therefoe the first of these
queries we beg leave to refer to a report, copy of which is annexed, which was
furnished to Mr Henshaw under the 24th October last, and which shews
that the total of gold coinage in the mint of Bombay amounted from the year of
account 1770/1 to 30th September 1804 to Rupees 7,659,122, of which
the coinage since November 1800 when the present mint regulations were
introduced, or in four years is 5,017,382 and shewing the amount coined in the
previous 20 years as rupees 2,641,740.
With the evidence of this statement it
may be deemed unnecessary for us to follow Mr Henshaw to follow Mr Henshaw
thro’ the causes he has assigned for the deficiency of circulating medium
from which he apprehends such incalculably ill effects. It is perhaps enough
for us to prove that the position he has assumed is fundamentally erroneous,
and we here shew that the mint regulations of 1800, instead of occasioning a
decrease in circulating medium, has produced a very considerable addition.
We deny that the disappearance of the
For the purpose of explaining the
necessity there was for the mint regulation of 1800, we shall take a concise
view of the mintage of
Among other regulations which were at
different periods entered into between the Government of Bombay and the Nabob
of Surat, was that in the year 1768, when for the purpose of mutual
accomodation, it was agreed that the rupee of the two Governments should
circulate at Bombay and Surat on a footing of equality, the Nawab engaging to
keep his coin of the same purity and value as ours.
This engagement he soon however violated
and our circulation was in time engrossed by debased rupees of the
We observe that frequent representations
were made to the Nabob, particularly through the Chief and Council of Surat,for
the purpose of inducing him to conform to the original agreement with the
Government of Bombay but these remonstrances failed to produce the equalization
on which that agreement between the two Governments was founded. Owing however
to this repeated interference, the Nabob’s coin in later years, acquired a
character of greater regularity and tho’ it contained near 8 per cent of alloy,
had a preference thoughout Guzerat as being the most pure and most regular of
the coins current there, and indeed of any rupee on this side of
It requires to be noticed that the
coinage of rupees of the old
The forgoing observations apply only to silver
coinage. That of gold was also extremely circumscribed till the year 1800, and
had the regulation of 1774 being strictly conformed to, it would have been
utterly impossible that any gold coinage whatever could have taken place in our
mintfor many years previous to the repeal of that regulation.
The
The circulation of the Bombay rupee
being usurped by that of Surat, the gold coinage under the regulation of the
year 1774, would have been exchanged for silver at the proportion of about 13
to 1, had not the ingenuity of the native mint contractor applied a remedy, by
departing from that regulation, and debasing the coinage to 5 per cent of alloy
instead of less than ½ a per cent. In support of this assertion we have,
besides our own assays, that of a report made by a committee of Government in
the year 1796, wherein it is stated that the
We request to draw the particular notice
of your Honble Board to this circumstance, because it is in contradiction to
what Mr Henshaw has stated in the 65th paragraph of his remarks.
Instead of the alteration being as Mr Henshaw has represented it, from 99 to 92
touch, it was in fact from 95 to 92.
From the preceeding remarks it will be
seen that the mint regulation of 1774 was unrepealed until the year 1800,
although such a change had taked place by the debasement of the Surat silver,
as rendered that regulation no longer adequate for the purpose for which it was
planned, that of securing to us a regular currency of sufficient purity to be
respected and received in the neighbouring country, and at the same time so
proportioned to the value of the metals as an article of trade, as to prevent
it becoming an object to withdraw our coins altogether from circulation.
It will also be observed that the coins
current at Bombay were the Surat rupee, the standard of which is now settled at
7.97 per cent of alloy, in violation of the mint regulation then in place, by a
practice unsanctioned by Government, but which was nevertheless unavoidable if
any gold coinage was to be made.
Value of gold and silver being in our
bazar with little variation as 15 to 1 it was impracticable for Government or
individuals to coin gold mohurs with less than half a per cent of alloy, to be
exchanged for 15 rupees of equal weightcontaining 8 per cent of alloy because
the gold which would be contained in one gold mohur would , if sold as bullion,
command 16 of these rupees.
Such was the situation of the currency
of Bombay as previous to the regulation of 1800 and every desciption of man at
all conversant on the subject entertained but one opinion on the necessity of
such an alteration as would restore and preserve to Bombay a coinage of its own.
In this state of things Government had
to decide whether it should be allowed to a mint contractor to continue the
coinage of gold below the standard and that Bombay should remain without a
silver coinage of its own, whether the regulation of 1774 should be enforced by
coining gold mohurs at the standard of a Venetian, and directing them to pass
at 15 Surat rupees, or 7 per cent below their real value, whether the old
coinage of the Bombay rupee gold mohur should be restored, or whether a medium
could not be adopted calculated to remove the objectionable and insurmountable
obstacles which presented themselves.
The first it is obvious could not be
adopted. The second was impracticable unless by Government bearing the loss on
supplying the circulation with gold coin which from its superior value could
not remain.The third was long thought of but difficulties of the same nature as
to the second were opposed to its adoption.
At length a system was introduced which
in our opinion founded on the experience of 4 years practice has proved itself
the best which circumstances would admit of being resorted to.
The
The new gold mohur being ordered to be
coined with the
We cannot offer a more convincing argument
that our present coinage is of sufficient purity for our purpose than by
stating on the opinion of those most capable of forming a correect judgement,
that of 50 lacs of rupees of gold which have been coined within 4 years, not
more than 20 remain in our circulation.
We trust that we have completely
answered Mr Henshaw’s observation with regard to the present state of the
mintage of
We are further of opinion that if this
chage had not been introduced, with such unexampled demand as has existed for
the metals, our currency would have consisted at this time of copper only. We
find that at one period of Mr Hombey’s Government when war and similar causes
to those which have now occurred, produced a similar effect, Bombay was for a
time deprived of silver currency and its place supplied by single rupees of
gold.We cannot subscribe to r Henshaw’s principles of reasoning which regard
the exchange between Bombay and the northwood. It is a subject that of late has
been much canvassed and which is now ingeneral, well understood. There is a
balance of trade against
If the quantity of silver bullion
imported and applicable to the paymeny of that balance of trade, the exchange
would be in course near par. The silver would be coined here because it would
be no longer the object of anyone to give more than its standard value as a
metal and the rate of exchange would not be much more than its standard value as
a metal, and the rate of exchange would not be much more then to pay the
expense of transporting the money.
We are decidedly of opinion that the
high rate of exchange against
By the 66th paragraph of Mr
Henshaw’s remarks we are to understand that the circulating medium never could
have been more scarce than at the period immediately subsequent to the
introduction of the mint regulation of 1800, yet we find that notwithstanding
the scarcity he represents as existing, and as being the grand cause of the
unfavourable exchange, that it was at that time rather in favor then against
Bombay, and the reason is obvious. The cotton crop of 1800 failed throughout
Guzerat, and thence the large funds which would have been required there early
in 1801, were saved to Bombay Government besides needed no considerable funds
to be remitted from thence.
In the year 1801/2 there was an abundant
crop which was to be paid for with decreases means, because few cargos having
been sent in the preceeding year, the returns were proportionably diminished.
It was also at this period that Government began to have occasion to interfere
in the money market, and the exchange was in the course of this season as high
as 105 rupees at Surat for 100 Bombay.The silver Surat rupees then in our
circulation were in course returned thitheras affording a remittance without
further loss than was occassioned by the expense of transport.
In April 1803 the exchange was 107½ per
100, and Government remitted in the year of account 1802/3 to the amount of
2,500,000. In the following year, 1804, at the same time, the exchange was also
about 107½ and Government remitted in
that year of account Rs 2,700,000.
Towards the close of the year 1804, the
exchange was as high as 112 per centand Government remitted upwards of 50 lacs
between the months of April and December. Thus we see the exchange continued to
increase with our demand for money, while the Bombay currecy remained all the
time without further change than had taken place in the year 1800, and which
did consequently not produce the ill effect on our exchange which Mr Henshaw
attempts to attribute to it.
If the principle laid down by Mr Henshaw
that the alteration in our coinage produce the unfavourable exchange, is
correct, it must apply in all cases where our coin is concerned. We shall
therefore examine the accuracy of the principle as far as regards to our
situation with
For the same reason that more
This comparison is sufficient evidence
that we must look to other causes than that laid down by MR Henshawfor the
alterations which we have of late witnessed and which we consider reasonably
accounted for in our preceeding remarks on this subject.
Our coins of gold and silver contain
something less than 8 per cent of alloy, and are the purest on this side of
They will continue to do so for some
time longer, unless they make themselves masters of the first principles which
govern the fluctuations in exchange.
We have endeavoured to confine our
remarks to the two principal questions which we deduced from Mr Henshaw’s
report, and if there is any force in these observations we have now the honor
of submitting to your Honble Board, it is quite unnecessary for us to enter
into further discussion on the means by which Mr Henshaw has proposed to remove
the inconveniences and disadvantages which the commerce of Bombay has of late
laboured under.
The
If therefore the commerce of
We observe many inaccuracied in the
course of Mr Henshaw’s remarks, which being however subordinate to the
principal questions on which we have offered our opinion, we have not
considered it necessary to bring them to particular notice in our present
address.
Letter from William Crawford (mint
master) to Government, dated
Statement of the Gold Coinage in the
|
Year
of Account |
|
Touch |
Mohurs |
Thirds
of Mohurs |
Single
Rupees |
Total
Value in Rupees |
|
1770/1 |
|
99 |
1968 |
|
|
29,520 |
|
1773/4 |
|
“ |
10,260 |
|
|
153,900 |
|
1774/5 |
|
“ |
15,563 |
|
|
233,445 |
|
1775/6 |
|
“ |
235 |
|
|
3,525 |
|
1778/9 |
|
“ |
3,000 |
|
|
45,000 |
|
1779/80 |
|
“ |
352 |
|
|
5,280 |
|
1781/82 |
|
“ |
3,336 |
|
|
50,040 |
|
1782/83 |
|
“ |
548 |
|
|
8,220 |
|
1783/84 |
|
“ |
14,498 |
|
|
217,470 |
|
1784/85 |
|
“ |
9,337 |
|
|
140,055 |
|
1785/86 |
|
“ |
1,178 |
|
|
17,670 |
|
1786/87 |
|
“ |
6,817 |
|
|
102,225 |
|
1787/88 |
|
“ |
4,789 |
|
|
71,835 |
|
1788/89 |
|
“ |
1,950 |
|
|
29,250 |
|
1791/92 |
|
“ |
6,532 |
|
|
97,980 |
|
1792/93 |
|
“ |
5,407 |
|
|
81,105 |
|
1794/95 |
|
“ |
18,635 |
|
|
279,525 |
|
1795/96 |
|
“ |
24,706 |
|
|
370,590 |
|
1796/97 |
|
“ |
6,218 |
|
|
93,270 |
|
1797/98 |
|
“ |
8,811 |
|
|
132,165 |
|
1798/99 |
|
“ |
28,967 |
|
|
434,505 |
|
1799/1800 |
|
“ |
3,009 |
|
|
45,135 |
|
1800/1 |
|
92 |
67,938 |
4,939 |
96,100 |
1,139,865 |
|
1801/2 |
|
“ |
57,734 |
4,718 |
311,210 |
1,200,810 |
|
1802/3 |
|
94 |
4,519 |
1,200 |
|
73,785 |
|
“ |
|
92 |
27,474 |
1,500 |
88,142 |
507,752 |
|
1803/4 |
To
|
“ |
136,878 |
8,400 |
|
2,095,170 |
|
|
|
|
|
|
|
|
|
Total
(Not sure these totals are correct |
|
|
470,659 |
20,757 |
495,452 |
3,769,182 |
Letter from Charles Watkins (mint
master) to Government, dated
Agreeably to the orders of the Honble
the Governor in Council, I have received charge from Mr Crawford of the office
of mint master, to which I had the honor to be nominated under the 7th
instant.
Letter from Charles Watkins (mint
master) and H Scott to Government, dated
Agreeably to the directions conveyed to
us in the sub-secretary’s letter of the 24th instant, we have the
honor to submit the accompanying list of punroes [could be purvoes], peons etc
employed in our departments for the information of the Honble the Governor in
Council
Punroes 2 Viz
1 Purshohim Mungajee
1 Dadajee Sumkerseljee 8
Assayman
1 Arzam Ragojee 4
Sepoys 4 Viz
1 Dhurma Gunpatill 4
2 Nanna Appajee 4
3 Mados Shullia 4
4 Shikh Ahmud 4
53-1-33
Letter from Charles Watkins (mint
master) and H Scott to Government, dated
Candass Boolakedass offers gold to the
mint at 15 rupees and 3 annas of 98 touch. This is the rate at which we
purchased the last gold we bought and is not unreasonable considering the state
of the market. He has about 4000 tolas for sale. We beg to be favoured with the
orders of the Honble the Governor in Council on this subject.
Resolution
Messrs Watkins and Scott were on the the
4th instant authorized to accept the offer of gold made by Candass
Boolakedass.
Letter from Charles Watkins (mint
master) and H Scott to Government, dated
In reply to your letter which we
received yesterday, we beg that you will be pleased to inform the Honble the
Governor in Council that the Bombay gold mohur passes for 14 rupees of the
present currency at Mangalore by order of the Madras Government.This is the
sole cause of its depreciation at that place for that is the rate at which
payments made in it were ordered to be received into that treasury. The same is
the case at
We may just observe to you that a gold
mohur of the present currency contains 164.74 grains of pure gold and a rupee
of the present currency precisely the same of silver. If therefore 14 rupees
are exchanged for one gold mohur it is evident that 14 parts of silver are
exchanged for one of gold, which is not the value of the gold in Malabar nor
anywhere else in
We observe that arbitrary values not
drawn from the real intrinsic value of coins were in like manner put in Malabar
on many foreign coins by order of Government. Whether such rates can have
continuede to the present we cannot tell.
Resolution
Ordered that a copy of the above letter
be sent to the Madras Government for their notice, the Governor in Council
having no doubt but the Right Honble the Governor in Council will issue such
orders in reference to the depreciated value that thence appears to be put on
the Bombay gold mohur at Mangalore as the case may to his Lordship appear to
require.
Letter from Charles Watkins (mint
master) and H Scott to Government, dated
In reply to your secretary’s letter of
the 24th instant desiring to know “if the relative proportionate
value between the new and old gold mohur of
This estmate however is not far wrong
but it is on the opposite side of the question with the error in the estmate at
Mangalore.
Letter from Charles Watkins (mint
master) and Helenus Scott (assay Master) to Government, dated
In reply to your secretary’s letter of
the 4th ultimo, accompanying copy of a letter from Messrs Bruce Fawcett
& Co to Government of the 27th of January on th4e subject of the
returns of silver from the Surat mint for bullion sent to it for coinage, we
have to observe that there is no kind of doubt but that the Surat mint does not
deliver the number of rupees to the holder of bullion which it ought to do and
that it is, and long has been, the practice of that mint to keep back a greater
sum than the expense of coinage, together with the Company’s duties [amount
to].
It is evident (for example) that 100
dol.lars contain silver enough to make very nearly 227
We have had repeated conversations with
the mint contractor with regard to his coining the
Resolution
Ordered that copy of the preceeding
report be referred to the mint master at Surat with intimation that Government
expect he will reduce the expense of coinage at Surat to the same standard as
at Bombay or to report the obstructions he may experiaqnce in carrying the same
into effect, being authorized for this purpose to correspond with the mint
master at Bombay, who is to be directed to communicate with Mr Wren the expense
of coinage in the Bombay mint.
Letter from Charles Watkins (mint
master) to Government, dated
The officer on guard at the castle date
having evinced a disinclination lately to let the bullion pass thru’ from the
mint [past the … hour], I am to request an order be issued that the bullion may
be allowed [past] without impediment at any hour within […] evening as the work
people at the present […] unusual exertion will very often be kept [..] late
hour.
Resolution
Copy of the above letter was on the 19th
instant referred to General [Nevills?] that he might cause the necessary
intimation to be given on the subject to the officer at the castle guard.
Letter from Charles Watkins (mint
master) to Government, dated
In reply to your secretary’s letter of
yesterday’s date, just received, informing me that the appropriation of the
ravelin occupied with military stores, for the mint, is to be postponed, I beg
leave respectfully to intimate that, should you think proper to sanction the
measure, an appartment adjoining the refimimg room (the walls of which are
standing) might be roofed in at a very trifling expence, which would obviate
the necessity of having recourse to any other buildings as a temporary
[suceedarevum]. The room alluded to with the other plans in the mint already
prepared for the work-people would afford space for the whole number we are
likely to collect.
I beg leave to add that no danger could
reasonably be apprehended from fire in bringing this portion of the old
building into use again.
Resolution
The Board cannot agree to the temporary
expedient above suggested, as it is intended to remove the mint to another site
whence it becomes unnnecessary to incur any expense by repairing any of the
apartments of the old office for the purpose for which the ravelin is required.
Resolution at a meeting held on
The mint master was on the 5th
instant directed to receive from the sub-treasurer the sum of 62,682 dollars
now in the treasury for the purpose of being coined with the least practicable
delay on the grounds of a recommendation from the accountant general.
Letter from Charles Watkins (mint
master) and Helenus Scott (assay master)
to Government, dated
In reply to your letter of the 16th
instant, be pleased to inform the Honble the Governor in Council that we shall find
some difficulties in coining silver rupees in this mint so like those of
The
The second difference in appearance
between the
In order as far as possible to remedy
this second objectionwe beg that Government will order from Surat a set of dies
which we shall immitate with as much care as possible.If the difference of the
workman’s hand shall still appear, we see3 no other recourse but that of
ordering a number of dies from Surat altho’ (for reasons that we shall not now
detail) that would be attended with much inconvenience. Even then we may not wholly
elude the vigilance of the shroffs.
By the above means the difference of
colour will be entirely obviated and that of the inscriptions very nearly so.
Resolution
A copy of the preceding letter was, on
the 20th instant, ordered to be sent to the chief of
Letter from Charles Watkins (mint
master) and Helenus Scott (assay master)
to Government, dated
According to the order conveyed to us by
you we have attentively considered the mint master of
It is, we conceive, the intention of
Government that a percentage be levied on the coinage at
On this principle we are not yet
satisfied with the offer [of] the Surat mint master of 220 rupees for 100
dollars as expressed in his letter, for a good deal of the silver he receives
would remain entirely unaccounted for.
To make this perfectly evident let us
examine his proposals.
The expenses of making the coins at
100 dollars gross produce Rs 266
The
Leaving rupees
6
Now, 6 rupees equals to per cent 2.2.60
Deduct Government customs as
Stated by the mint master -.2.-
Leaving 2.-.60
If the mintage costs 1½ per cent, the
usual rate he would have to pay for it 1.2.-
-.2.60
or nearly ¾ per cent which seems to be
entirely unaccounted for
If however the adoption of a copper
alloy saves him on the mintage ½ per cent as he states then there remains in
his hands no less then Rs 1.-.60 or nearly 1¼ per cent of which he gives no
account. This is above twice as much as he proposes paying to Government.
We now beg leave to recommend that the
Surat mint master be called upon solumnly and upon honor to declare at what
rate per cent he can conduct his coinage, 1 with a lead alloy and, 2 with a
copper alloy. When we know this we know as well as they can do at Surat what
return they ought to make to the bullion holder & what should go to
Government. In
The
We pay our mint contractor per cent 2.2
He pays for his mintage at the most 1.2
Hence he gains per cent on
Making of the coin 1
His is at one the secret of an offer that
has the superficial appearance of advantage. It may be asked why the
We have long considered the constitution
of the
Instead of Bhurteahs we advise that a
mint contractor may be employed to make the coin at
We conceive that 3 per cent collected on
the coinage of
We do not say that this last proposal
from Surat keeps back much more of the silver from the bullion holder than may
be absolutely necessary to pay the contractor & the other demands in a well
regulated mint, but we complain that this silver is kept back there from the
bullion holder secretly without an avowed object & (as we conclude) that it
must be absorbed by the Bhurteahs without answering any good purpose. Men will
never labour without reward in any situation, but to employ men in a mint
without any open and avowed means of living is of all systems the most ruinous.
Should Government be pleased to adopt
our suggestion with regard to placing a mint contractor in the Surat mint, we
should think it proper that this person should pay a visit to the Presidency
that he may be made fully to comprehend our systems and that an agreement in
all respects may be established between the two mints intimately connected as
they are. Until this is done we recommend that the
We shall at a future time take the
liberty of recommending a further system of check on the Surat coinage for it
cannot go materially wrong without damaging both our gold and silver and
producing as it did for many years both loss & inconveniency to Government
& the public.
The specimens sent us of the
Resolution
Ordered that a copy of the preceding
report be forwarded to the mint master at
Letter from Charles Watkins (mint
master) to Government, dated
We have the honor to acknowledge the
receipt of Mr Secretary Wardens’ letter of the 30th ultimo,
enclosing copy of a letter from the chief at
Reply
The mint and assay master were on the 10th
instant informed that it was the intention of Government to introduce at
Letter from Charles Watkins (mint
master) to Government, dated
In reply to Mr secretary Wardens’ letter
of the 10th instant, we beg leave to inform you that the alloy used
in this mint is composed of equal parts of copper & lead.
We request to be favoured with any directions
you may think necessary regarding any alteration therein and remain etc
Resolution
Ordered that the subject of the above
letter be communicated to the mint master at
Letter from Charles Watkins (mint
master) and H Scott to Government, dated
We received the orders of the Honble the
Governor General in Council on 21st instant.
With regard to the insinuations that
have been made of undue preference in priority of coinage, the mint master who
kept the register of such applications and directs the order in which
individuals are to coin, will as sson as he can make up his accounts to 30th
April, lay them before Government who will then be able to judge how far he has
acted with impartiality.
In answer to the second question of the
Hinble the Governor in Council, we can say that the mint in its present state
is very unequal to the supply of a considerable quantity of silver coinage. We
can hardly coin 8000 rupees a day, or 240,000 a month. This is owing in great
measure to the ruinous state of the mint, which some time ago fell down
suddenly, leaving no more than one small room for all the purposes of the
coinage. We are at all times however, confined in our operations from the want
of machinery, everything here being done by the hands of men, and it frequently
happens that a sufficient number of such artists can not be procured.
Reply
It was, on the 6th instant,
observed that by order of
The town committee were at the same time
to give their opinions as to the most eligible spot to erect a mint on, without
the fortifications and to present a plan thereof with an estimate of the
expense and the time in which, in their opinion, it might be got ready for the
purposes of the coinage.
Letter from H Scott (assay master) to
Government, read at a meeting on
I received an hour ago your letter of
this date accompnaied with the gold mohurs for assay. It fortunately happened
that Mr Watkins was with me in the mint when I got those gold mohurs. I
instantly shewed them to our mint contractor who acknowledged that every one of
them was of his coinage. I next and without [ ] them for an instant out of our
sight weighed them with a very accurate balance and I found that the weight of
them all was correct. It now only remained to determine the standard and for
this purpose I had for the sake of expedition recourse to the touch stone. I
was soon convinced as well as several other people about me, that the standard
was right, or at least very nearly. I cannot pretend to judge in this way
within a fraction of one per cent but from experience I know very nearly the
truth. I should here have rested satisfied that all was sufficiently correct
for the general purposes of a coinage But I was desirous of having the opinion
of experienced judges. Mr Watkins and I therefore went to the pay office and
then to the treasury where, without saying a word with regard to our motives we
begged of the Honble Company’s shroffs at both places to examine them. They
tried them both with the touchstone and then weighed them in thir scales and
they at both places declared them that they were (as they ought to be) 92 touch
and full weight.
Nothing further remains but to subject
the gold mohurs in question to chemycal analysis by which the smallest
fractions of a touch may be determined but this will require [lime] and indeed
in the present case appears to me perfectly unnecessary.
Those gold mohurs beyond all doubt came
as near in all respects to the standard fixed by Governmentas our mint can ever
attain. I am happy to add that Mr Watkins will be happy to confirm what I have
said and I doubt not the head shroffs of the pay office and treasury will do
the same.
Letter from the mint master and H Scott
(assay master) to Government, dated
We received your letters of the 1st
and 4th instant accompanying the orders of the Honble Court of
directors with regard to the ciculating coins under the different
collectorships.
We also received the various coins as
per your list from the districts of Salsette, Baroach and Kaira. Accompanying
we have the honor to report on their different values as far as it is possible
to do so with any degree of accuracy in such a subject.The Cambay mints are in
general so inaccurate in their coinage that the coins of the same denomination
differ from each other at times several per cent in purity as well as weight.
This is remarkably the case with regard to the mints of Broach, Cambay and
We beg you will have the goodness to
inform us how we are to dispose of the money that remains with us of what you
sent in for assay.
There then follows a list of the assay
results
Letter from the mint master to Government,
dated
I am concerned to announce to you that
Tappidass Nunsidass, the person who used to conduct the business of the mint,
died yesterday evening after a short illness. Nurbaram Bhowanydass, the
grandson of Narrondass Tulsidass, and the representative of that house which
has heretofore managed the coinage, is here present. I am to request to be
honored with your decisions in consequence of the death of Tappidass.
Resolution
The mint master is to be called upon to
report the age of Nurbaram Bhowanydass and where his residence is, and to state
under what securityship the late Tappedass Nunsidass conducted the duties of
the mint undertaking
Letter from the mint master (Watkins) to
Government, dated
Your commands through Mr secretary
Warden of the 5th instant, I had the honor to receive yesterday and
in reply beg leave to acquaint you that Nurbaram Bhowanydass, the grandson and
representative of Narrondass Tulsidass acquaints me that his age is about 32
years, his place of residence within the fort in the principle street of the
bazar, opposite the shop of Gopalldass Manordass. Permit me also to inform you
that the existing contract entered into with Government, Nurbaram Bhowanydass
and not the late Tappidass Numsidass, signed, in the name of Narrondass
Tulsidass, which has been made use of in every engagement of the kind since the
first contract in 1793 (which the late Tappidass Nunsidass sined in like
manner). The securities are the house of Messrs Bruce, Fawcett & Co.. The
contract paper I am to observe, is not in my office.
Letter from the assay master (Scott) to
Government, dated
As I suppose that no further enquiry
will be necessary with regard to the ten gold mohurs which you sent me for
assay in April last, I have paid them as usual to the mint contractor and
desired him to account for them to the mint master on account of Government.
Letter from the mint master (Charles
Watkins) and the assay master (H. Scott) to Government, dated
We yesterday received your letter of the
18th with enclosures and we now proceed to give you all the information
in our power on the subject of it.
That our coinage can be carried on but
to a very limited extent is too true, and this arises chiefly from the want of
machinery for coinage here. The coins are made entirely by the hand so that the
amount of the coinage must be exactly in proportion to the number of smiths
that we can hire in
If the mint were not in a ruinous state
we could easily accommodate all the smiths to be found in
With regards to the comparitive
execution of the mints of
The ravelin of which we were put in
possession last year was found not to answer the purpose and it was
relinquished at the entreaty of the contractor. It held twenty five men by his
business being divided between the mint and the ravelin, he was not able to
protect himself from theft & to our certain knowledge he suffered very
serious losses from that cause.
From the above statement the Honble the
Governor General in Council will see that our coinage has never been greater
then at present, that it may be increased as soon as the rain ceases in the
proportion of perhaps sixty to a hundred, but it never without coining
machinery can have anything resembling the expedition that is customary in
We beg to be allowed to remark that if
it were to please the Government to put a roof over the [that] fallen in of the
mint that it would then without further expense be sufficient for all our
purposes.
Resolution
Ordered that the preceeding letter be
referred to the committee of buildings with instructions to communicate and
concert measures with the mint and assay master with the view of fixing on a
proper spot on which to erect a new mint office within the walls of the town.
Letter from the mint master (Charles
Watkins) to Government, dated
In compliance with the instructions
conveyed to me in Mr Secretary Warden’s letter of the 22nd instant I
intimated to the mint contractor, Nurbaram, the necessity of his providing
other security in lieu of the firm of Bruce, Fawcett & Co.
I have the honor to report in
consequence that Nurbaram is prepared as security to deposit in the treasury,
Government obligations to the amount of fifty thousand rupees, which he trusts
will be approved by the Honble Board.
Letter from the mint master (Charles
Watkins) to Government, dated
Agreeably to the directions conveyed in
Mr Secretary Warden’s letter of the 29th ultimo, I called upon the
mint contractor to provide security to the amount of one lac of rupees.
The house of Ransondass Tulsidass are
ready to deposit fifty thousanf rupees as a security, which is the amount
heretofore required but they assure me that it is not in their power without
materially [affecting] their to appropriate a larger sum.
They may get some of the wealthy natives
to be secuirty for them to the amount required by Government but I think it my
duty to call the notice of the Honble the Governor in Council to the ill
effects that were formerly found to arise from permitting a security of this
kind to be established. It appears to be a custom among the natives to consider
the person standing for them as security, as a kind of partner, entitled to a
certain share of the profits on that account. On settling the security some
years ago, for the mint, all security by natives were rejected, for at the time
it was discovered that several of the monied men who had engaged in this way
for the mint contractor had forced him to give them a part of what he gained, a
practice which led, and which evidently has a tendency to lead, to improper
gain and fraud. From the above considerations, I respectfully submit to
Government whether it may not be better to relinquish the additional security
required, provided the mint contractor finds it impossible to get one of the
European houses to assist him. This he will attempt to accomplish if indulged
with a little longer time.
Resolution
In the interim of the mint contractor’s
prevailing on one of the European firms of
Ordered that he be required to lodge the
security to the amount of fifty thousand rupees under a final bond to be drawn
up by the Company’s law officers for the faithful execution of his trust.
Letter from the mint master (Charles
Watkins) to Government, dated
We have the honor to inform you that
gold could be procured from Poonah and other parts of the interior at the rate
of rupees 15..2..25 per tola of 98 touch, which would enable Government to
derive a profit of 1 ¼ per cent after coinage. As no gold, we underdstand, is
expected to be imported from China this season, we humbly submit to the Honble
Board whether it would not be advisable to accept the bullion at that rate during
the present stagnation of coinage business until the high price of gold be
reduced in the market. We are assured that the quantuty thus procurable would
be equal to about tolas 100,000 or rupees 1,500,000
Letter from the assay master (H Scott)
to Government, dated
In consequence of the representation
which I formerly made to Government, we received from
All those articles are of an excellent
kind and have already enabled me to adjust some doubtful and disputed points in
the most satisfactory manner.
I have on former occasions represented that
the people of this country have not the means of determining the weight of
anything to a great degree of accuracy. The beams which the merchants use for
gold and silver are still more inaccurate. Several kinds of tola differing from
each other by some grains are in use in
The great accuracy of the beam for
silver which we lately received has enabled me to detect an error which might
have produced its consequences in the mint but which fortunately has produced
nothing of the kind. On this subject I shall address Government more at large
and show how the error arose and how it is to be corrected.
I beg leave for the reson just stated
earnestly to recommend that Government would be pleased to order from
Resolution
As the assay scales and weights and also
the beam we had applied for appear to have been received, the renewal of the
application proposed at our last meeting to be modified according to the terms
and purport of the present application.
Letter from the mint master (Watkins) to
Government, dated
Although indents for coinage to the
amount of nearly four lacs and an half were drawn upon the mint between the 12th
and 16th ultimo it appears that there is not actually two lacs forthcoming
as the contractor has just been given to understand (on applying to the
merchants for more bullion and dollars, the balance in had being very trifling)
that they have none. The amount including this days issues will be Rs 148,500
returned to them since the 4th ultimo or on average upward of rupees
7000 per diem. As, in consequence of this disappointment, the workmen will be
thrown out of employment in a day or two, I beg leave Honble sir to recommend
that the bullion and dollars lately purchased on account of the Honble Company
be sent to the mint to keep them employed now so many are collected together
Resolution
Orders to be issued to the sub-treasurer
for sending the bullion and dollars into the mint for the purpose of being
coined as recommended in the above letter
Letter from the assay master (H Scott)
and mint master (Watkins) to Government, read at a meeting on
We beg you will be pleased to report to
the Honble the Governor General in Councilthat the mint contractor lately
complained to us that he had just detected a deficiency in his accounts of not
less than 1500 rupees, which on further enquiry he found to arise from the
coining of rupees from new dollars.
The dollar is a coin so long established
and its value has been so faithfully preserved that they pass here to any
amount by number and without enquiry into their weight or standard. In like
manner they have always been received by tale at the mint. That the dollars
received of late dated 1800, 1, 2, 3, 4, 5, 6 are a fraudulent coinage it is
impossible for us to doubt for we have made very particular enquiry into their
real value, and find it somewhat less than it ought to be, both in respect to
the proportion of silver and the weight of each dollar. The deviations from the
true standard are but small but they are uniform and on that account bear more
strongly the marks of design…
Letter from the assay master (H Scott)
to Government, dated
In obedience to your orders I acquainted
Dyal Boolakidass that we were ready at the mint to make new assays of his
silver and that in order to satisfy him it should be done either in the country
or European method or that he himself might conduct the assay. He accordingly
promised to attend on Friday last at the mint, but did not. I then sent to him
begging to know when he would attend but I now find that he entirely declines
it. The fact is that Dyal is well convinced that the mint assays are perfectly
just and that they would be confirmed by new ones.
It is not entirely without reason that
Dyal complains of this sycee silver for, until a year or two past, the Chinese
always sent it pure or with but very little alloy. They now however adulterate
it considerably as will appear by the mint assays of very large quantities.
Such is the confidence acquired by time that I have no doubt but that Dyal
could have sold in the bazar all this sycee silver as pure silver, but still
the assays are true and I believe can never be controverted.
Letter from the assay master (H Scott)
and mint master (Watkins) to Government, dated
We have the honor to acknowledge the
receipt of your commands dated the 2nd instant enclosing extract of
a letter from Mr Charles Forbes to the sub-treasurer of the 29th
ultimo.
We find that Dyaldass Boolaekidass
brought the silver alluded to, to the mint not in the China packages but in bags,
and separate quantities, so that the mint contractor cannot determine whether
this was from Mr Forbes or otherwise.There is every appearance, if that was Mr
Forbes silver, that he picked out the boxes of pure silver, which he brought to
the mint, while knowing that such as contained alloy would not pass there but
for their real value, and sold the rest, supposing they would pass in the
[gross] for pure. It is impossible for us to believe for a momentthat the mint
contractor woul receive an ounce of silver as pure, which was not so, for the
loss would instantly fall not on the Honble Company, nor on any person than
himself.
The mint it is evident can have no
interest in undervaluing Dyaldass’ silver, but the case is far otherwise with
regard to him.
Letter from the assay master (Stewart on
behalf of H Scott) to Government, dated
He corrects assertions made by Scott
about coins from Broach and
Letter from the assay master ( R Steuart
on behalf of H Scott) to Government, dated
He replied to a letter issued by Mr
Davidson (assay master at
Letter from the acting assay master (R Steuart)
to Government, dated
I have the honor to acknowledge your
letter under date the 18th instant accompanied with a recommendation
by the sub-treasurer that a re-assay of the silver purchased from Ardaseer Dady
should take place and to which you were pleased to assent.
On receiving from the treasury the
pieces of silver reserved for this purpose I naturally expected that the same
pieces which were originally cut by Mr Scott for assay would have been
preserved but in this I was disappointed and found that most, if not all, of
them had been coined.
I find by Mr Scott’s memorandum that he
had taken from each box containing 40 to 50 pieces, two pieces, one from the
top and the other from the bottom of the package, and that the medium fineness
of these two pieces was taken by him as that of the contents of the box. I find
however that the same precaution has not been observed in regard to the pieces
now presented for assay, but that four pieces have been taken from each box
promiscuously, after they had been unpacked for the purpose of weighing.
I have thought it my duty previously to
my executing the intended assay to state the above circumstances to your Honble
Board for the follow reasons:
1st from a consideration that
if they had been known, your Honble Board would have hesitated at granting a
new assay, for such it really must be, and not a re-assay as requested by
Ardaseen.
2nd from the few trials I
have made, I have every reason to believe that a new assay will not in its
result agree with that formerly made; nor yet were I to divide the new into two
separate assays, would they agree with each other; and this is unavoidable from
the difference in regard to fineness between the pieces contained in the same
box, which I have observed to exist.
The regular manner in which every assay
of this silver has been entered in Mr Scott’s book in his own handwriting, and
which I have carefully examined in case there might be an error in calculation,
leaves me in no doubt with regard to their accuracy, but I can easily show that
the quality of the silver in question is so irregular as to render a partial
assay but at least doubtful and only an approximation of the truth.
Should your Honble Board still deem
another assay desirable, I shall take the liberty of proposing that Ardaseer
Dady in place of abiding by it shall abide by the result of it compared with
that which has already been made, or the mean of the two.
Governor’s Minute
Under this view of the case it seems to
me objectionable to admit of any renewal of, or addition to, the means already
used for ascertaining the assay of Ardaseer’s silver.
But if the Board should not be of this
opinion, I would propose in the second place that the merchant in question
should at least agree to be guided by the medium of the two assays as suggested
by Dr Stuart.
Perhaps before adopting either of these
suggestions, it may be right to refer the correspondance as it stands for the
report and opinion of the Accountant General, since perhaps the accounts are
already closed in his books with reference to the former assay.
The Board concurring in the President’s
propositions ordered that the preceding reference be made to the Accountant
General accordingly.
Letter from the acting assay master (R
Steuart) to Government, dated
I have the honor to acknowledge your
letter dated the 11th instant giving cover to copy of a proposal of
Dyaldass Boolakadass for the purchase of (50,000) fifty thousand tolas of syce silver,
referred for my opinion.
I cannot see any objection to the
acceptance by Government of the proposal in question, considering the subject
on the principal of the standard value of silver as established by the
regulations of the
On the supposition that the silver in
question is perfectly pure and sent to the mint for coinage by a private
merchant, the return would be as follows:
Produce of 100 tolas of pure silver Rupees 108 “ “
Deduct 3 per cent 3 “ 9
Net
return 104 3 04
Offered by Dyaldass 105
Difference in favour of the Company “ “ 96
If the silver be ordered for coinage on
account of the Honble Company, the return would be ½ per cent more then the
above statement or Rupees 104 3 20, leaving still a difference in favour of the
Honble Company of 80 reas by accepting the offer of Dyaldass.
Resolved that the offer by Dyaldass
Boolakeedass for the purchase of fifty thousand tolas of syce silver be
accepted as originally suggested by the accountant general.
Letter from the assay master (R Steuart)
to Government, dated
In obedience to the orders of your
Honble Board as communicated to me by your secretary’s letter of the 6th
and repeated on the 8th instant I have the honor to state that I
have carefully assayed eleven boxes of syce silver and seven boxes of dollar
bullion being the amount of the purchase lately made by Government from the
house of Messrs Forbes & Co and have found the respective qualities of the
same as follows Viz:
Eleven boxes syce silver, uniformally of
99 touch containing one per cent of alloy.
Seven boxes of old dollars of 90 touch
or containing 10 per cent of alloy
Resolution dated
Resolved that Mr Surgeon Stuart be
appointed assay master with retrospect to the date at which Mr Surgeon Scott
may have left [for]
The permanency of the appointment to
depend on Mr Scott’s actually proceding to England and is therefore subject to
revocation in the event of the return of that gentleman from China to
Bombaynotwithstanding the expiration of his furlough to the former place
Letter from the mint master (GC Osborne)
to Government, dated
Agreeable to the orders of the Honble
the Governor General in Council I have received charge of the mint office with
the books and papers appertaining to this department.
Letter from the assay master (R Steuart)
to Government, dated
In acknowledging the receipt of your
chief secretary’s letter under date the 10th December last addressed
to the late mint master and myself, I have to beseach the indulgence of your
Honble Board on account of the great delay that has taken place in transmitting
the report connected with it, and which has been principally occasioned by
frequently repeated attacks of severe indisposition, which disabled me from paying
the necessary attention to the duties of the assay department until lately.
The letter to which I have alluded
conveys the acquiescence of your Honble Board in the application of Ordaseer
Dady for a further assay of syce silver sold by him to the Honble Company on
condition that the medium of the result of the second assay compared with that
formerly made by Mr Scott should be accepted as the criterion for fixing the
value of the silver in question.
In my communication on this subject
under date the 29th November, I stated to your Honble Board my
expectation that a second assay was not likely to agree with that made by Mr
Scott owing to the same pieces which were assayed first not being procurable,
as well as to the irregularity that had been observed in the silver, this
expectation my late trials have simply justified.
After a carefully repeated assay of 84
pieces, I find the medium alloy to be 1.25 per cent or 1 ¼ per cent.
The amount of alloy by Mr Scott’s assay
was according to his books 3.04 per cent
By second assay of new pieces 1.25
4.29/2
Leaving a medium of 2.145
per cent
Or in round numbers 2 1/8 per cent on
the whole purchase
Ordered that a copy of the report of the
assay master be referred to the accountant general with directions to adjust
the account purchase of syce silver from Ordaseer Dady accordingly.
Minute of the Board, dated
The assay master not having replied to
the letter to him dated the 18th September
Ordered that Doctor Stewart’s answer be
required, with notice that Government expect he will in future be more puctual
in such matters.
Letter from the assay master (Steuart)
to Government, dated
I have the honor to acknowledge
[Suritary] Gordivin’s letter under the date the 18th ultimo,
transmitting enclosures from the collector of Surat respecting the accululation
of Broach rupees in the treasury and from the deputy accountant general at the
presidency containing the tender of a shroff for one lack of the above rupees
at the rate of 94 Surat rupees for one hundred Broach, and desiring me to state
what I conceive to be the best means of turning the rupees in question to the
best account.
Having fully considered the staement of
the mint master of Surat respecting the high price of silver bullion in the
market, and the probability of its becoming still higher as well as the low
rate of exchange between this place & Surat at present, I have no
hesitation in recommending that the whole of the rupees of the Broach mint may
be recoined into Surat standard rupees as the most advantageous for the public,
whether considered in a mercantile or political point of view. In the former,
as the mint return is almost equal to the offer made to the deputy accountant
general, & that for only a small part of the rupees, and in the latter as
the continuance of this coinage has been put a stop to by order of Government,
it will be for the public advantage to get rid of this irregular currency in
the most effectual way, and particularly so for the Honble Company in order to
prevent the recurrance of the same loss by these rupees again finding their way
into the treasury.
I am not sufficiently acquainted with the
regulations of the
It is no doubt possible that an assay on
so small a scale as I have made, may not be deemed sufficient to determine a
question of such extent, but if it should be deemed of sufficient consequence,
at a time when it is to be hoped that we are taking a final leave of these
rupees, it may be done on a more extensive scale at the mint.
There is an observation at the [xxx] of
“The Bombay mint master stated as per
his letter of the 18th of May, that the gross procedings of 100
Bombay tolas of syce silver is rupees 108, but on an examination of an assay at
this mint it is found to me no more than 107”.
If by syce silver the Bombay mint master
means to express pure silver, his statement is perfectly correct as far as mint
operations can be concerned, for as one rupee, like the Surat, contains 8 per
cent of alloy, the operation consists of adding 8 tolas of copper or any other alloy
to 100 of pure silverto produce 108 rupees. This appears to me to be a matter
of pure calculation and I cannot imagine how any assay can alter it.
Ordered Mr Stuart be informed that the
Governor in Council deems it very desirable to have the assay of Broach rupees
effected in the most extensive scale that can be requisite to lead to accuracy.
Ordered that the mint master of
With respect to the recoinage of the
Broach rupees into
Letter from the mint master (GC Osborne)
to Major Brookes, no date (about Jan 1810)
The south west ravelin having been
assigned pro tempore for the Honble Company’s mint, I request you will repair
the buildings situated in that work, with the least possible delay.
Ordered that Major Brookes be authorized
to repair the buildings situated in the south west ravelin provided the expense
do not exceed one hundred and fifty rupees.
Letter from the mint master (GC Osborne)
to Government, dated
I have the honor to hand up an indent
from Messrs Forbes & Co for the coinage of a quantity of bullion equal to
four lacs of rupees.
I can advance from the treasury without inconvenience,
one lac of rupees on account of this bullion which will satify the above firm
until the mint is placed in such a state of efficiency as to coin at the rate
of 20,000 rupees a day.
The Honble the President is aware that I
have been using every exertion to attain this desirable end, which is however,
no easy matter owing to the inactivity of the present mint contractor who is
decidedly adverse to any alteration in his dilatory habits. I have hitherto
trusted by perserverance to overcome his obstinacy and to induce him to carry
on his work with more energy but, having completely failed, I see no other
recourse than to retain a new contractor who should be a man of enterprize,
intelligence and personal activity, qualities in which the present contractor
is notoriously deficient. This will be the subject of a separate report I shall
shortly deliver in to your Honble Board. Meanwhile I beg leave respectfully to
submit the expediency of securing by every available means, the detention of
all bullion (estimated at between 16 and 20 lacs of rupees) now imported from
I beg leave to suggest to the Honble the
Governor in Council if it would not be desirable to allow the holding of
bullion to subscribe it to the present loan, deducting the 2 per cent premium
paid by cash subscribers and after the premium upon the mint rates of Rs 0 An 2
Reas 04 per cent of syce silver of 100 touch, and Rs 0 An 2 Reas 88 per cent on
Spanish dollars.
I propose this gain to the Honble
Company because the Accountant General purchased a large quantity of bullion in
January 1808 (at exactly the above specified proportions) under the mint rate.
Upon these terms (so advantageous to the
Honble Company) it is probable the whole bullion now imported from
Ordered that the above letter be
referred for the opinion and report of the Deputy accountant general.
Letter from the mint master (GC Osborne)
to Government, dated
I have the honor to acknowledge the
receipt of your letter dated the [ ] calling
upon me to report what progress has been made in providing another mint
contractor.
I request you will state to the Honble
the Governor in Council that I have at last induced such improvement in the
conduct of the present contractor as to render any change unnecessary for the
present.
In respectfully submitting this opinion
to the notice of the Honble the Governor in Council I beg leave to state that
the mint now coins at the rate of 17,000 silver rupees and 10,000 pice per diem
which is double the produce that it has yielded in past years, when the mint
coined at the rate of 8,000 and very seldom of 10,000 rupees per diem.
The actual amelioration has been
introduced gradually and not without continual battling with the contractor. My
utmost vigilance shall be exerted to keep the mint in its present stae of
efficiency. It yielded last month a clear surplus surplus revenue of Rs 4000
after defraying all expenses (including the salaries of the mint and assay
masters) and, if the coinage had been gold instead of silver, the net revenue
for last month would have been 8,000 rupees.
I avail myself of this occasion of
stating that I discovered, log subsequent to my assuming charge of the office,
there was no security whatsoever for the good conduct of the mint contractor,
altho’ the order of Government required that he should himself furnish security
in the sum of Rupees 50,000, to be deposited in the treasury and an European
security in the sum of rupees 100,000. Messrs Bruce Fawcett and Co having in
the year 1807, on the occasion of the death of the late mint contractor,
declined continuing security for his successor.
The present mint contractor appears to
have evaded the execution of these precautionary measures. To this hour he has
furnished no European securityin the sum of 100,000 rupees and, altho’ it is
true that he funded 50,000 rupees in the loan of 1807/8, still this was no
security while the loan bond remained (as it did) in his possession.. I cannot
trace the ground upon which the bond was surrendered to him but it must be
evident to the Honble the Governor in Council that while the bond remained in
his possession, he could at any time make a legal transfer of it to a purchaser
and receive the full value.
I am happy to state he has surrendered
the loan note to my custody as sub-treasurer and I have given him a receipt
purporting that it is held in deposit as a security for his good conduct. It is
but just however, to state that with the exception of the suspicion naturally
arising from his backwardness to give direct and collateral security, I have
not the smallest reason to doubt his integrity, but it is certainly my duty to
bring the forgoing circumstances to the notice of Government.
The Hinble the Governor in Council very
much approves of Mr Osbornes having redeposited the responsibility of the mint
contractor’s own security to the amount of fifty thousand rupees in the
treasury.
Ordered that Messrs Goodwin and Osborne
be directed to ascertain jointly from the mint contractor and thereon to report
to Government in what manner and from whom he procured the return of that
security which must have been previously to Mr Osborne’s entering on the office
and does not appear to have been sanctioned by any resolution of Government.
Resolved that the sub-treasurer be
informed that all deeds of authority are to be lodged, through the secretary to
Government, in the treasury and which
that officer is to observe as an invariable rule.
Mesrs Goodwin and Osborne are moreover
to call on the contractor to fulfill the other condition of his appointment by
realizing the additional security of one lac of rupees either from a European
firm or by a further lodgement of Company’s paper to that amount.
Letter from the assay master (R Stewart)
to Government, dated
I have the honor to report to your
Honble Board that I have assayed the silver bullion contained in forty two
chests purchased from Mesrs Forbes & Co and now under consignment to
Ordered that the assay master be called
upon to state how far the silver bullion purchased form Messrs Forbes & Co
be more or less than the standard which was to regulate our purchase of the
silver in question.
Letter from the assay master (R Stewart)
to Government, dated
I have the honor to acknowledge Mr
secretary Goodwin’s letter of the 21st instant desiring me to state
how far the silver bullion purchased from Messrs Forbes & Co is more or
less than the standard which was to regulate the purchase of that silver.
Presuming that the payment is to be made
in Bombay rupees, the mint return for silver of the same purity as that in
question, will regulate the purchase, which is as follows:
The mint return for silver per hundred
tolas of 100 touch is Bombay Rupees 104.3.04. Hence the nett mint return for
100 tolas of silver of 98 2/3 touch would be rupees 103.1.45 which last sum I
conceive is the price of the silver in question.
Ordered that Messrs Forbes & Co be
advised of the difference above reported, thro’ the mint master, to the end
that the purchase from that firm of silver bullion may be regulated
accordingly.
Letter from the mint master (GC Osborne)
to Government, dated
I had indented on the Import
Warehousekeeper for 600 maunds of copper but as he informs me Government have
ordered the remains of that article in store to be conveyed to
The mint contractor would not willingly
incur the smallest certain loss for any contingent profit.
Ordered that the Import Warehousekeeper
be instructed to deliver to the order of the mint master, 100 maunds of copper
in compliance with the preceding application.
Letter from the assay master (Stuart) to
Government, dated
In obedience to your commands as
communicated to me by Mr Secretary Goodwin’s letter under date the 26th
ultimo, I have examined the copper fit for coinage in the Honble Company’s
warehouse and find that the quantity does not exceed 375 Surat maunds, which is
not more than is required at the mint of this Presidency. It will therefore be
impossible to supply the demand at the Presidency of Fort William until the
arrival of the expected ships from
Resolved that the subject of the
preceding letter be communicated to the Bengal Government in reply to Mr
secretary Tucker’s letter dated 30th March.
Letter from the assay master (R Stewart)
to Government, dated
I have the honor to acknowledge Mr
Secretary Goodwon’s letter under date the 26th February received the
15th ultimo, giving cover to a letter from the Collector of Kaira
dated the 3rd February accompanied with three parcels of coins for
assay, and directing me to report the same to your Honble Board and to submit
such remarks as may occur to me on the subject of that letter.
The coins transmitted by Mr Rowles
consist of 3 parcels containing five Rs each Viz: No. 2 denominated Maturer or
Walkersoy rupees; No. 3 denominated Assasoy or Petland rupees.
On a careful assay of the above rupees
there does not appear to be any material difference in their relative value,
and on comparing that value with the assay of the new Baroda rupees transmitted
to me by the acting resident, directly from the mint, agreeably to the orders
of your Honble Board, being the coinage of the months of May and July of 1809,
it will appear that the information of Mr Rowles respecting the intrinsic value
of the new Baroda coinage is perfectly correct and that consequently there does
not appear sufficient ground, as far as my information goes, to justify that
Government in circulating it at the advanced premium of 3 per cent.
The following table exhibits the value
of the different coins in question, computed from the weight and quantity of
alloy contained in each. No 4 is the assay of new
|
|
Weight
(grains) |
Alloy
(per cent) |
|
No.
1 New |
177.4 |
11.9 |
|
No
2 Walkersoy |
177.4 |
11.5 |
|
No
3 Petlander |
176.8 |
11.8 |
|
No
4 |
177.4 |
12 |
|
Average |
177.2 |
11.18 |
From the foregoing table the greatest
difference in the weight of these rupees does not excede half a grain which may
arise from the length of time the coin
may have been in circulation, and the greatest difference in point of purity
does not exceed ½ per cent and that is only one instance. The others may be
considered for all the purposes of coins, to be exactly of the same value.
According to the reports transmitted to
me monthly by the Acting Resident of Baroda, there does not appear to have been
any coinage in that mint from
The above remarks appear to answer
generally, the different paragraphs of Mr Rowles letter. I have only to add
further that I entirely agree in opinion with that gentleman, of substituting,
for the numerous coins now in circulation throughout the Honble Company’s
districts in Gujarat and whereever else it can be done, one uniform coin, and
there can be no doubt the best will be the Surat or Bombay rupee which are
exactly the same. This measure I had the honor on a former occasion, to bring
to the notice of your Honble Board, & it is one which experience would seem
to point out the necessity of adopting and to which in my opinion, recourse must
be had at no very distant period, owing to the continual losses which the
public as well as individuals are necessarily subjected to annually, were the
circulating medium continued to have almost as many denominations as there are
districts, establishing thereby an arbitrary and consequetly fraudulant, rate
of exchange by which only a few shroffs can derive any advantage.
Minute by the Governor
I propose that copies of both the
letters aforesaid to transmit to the acting resident at Baroda with
instructions to report the sentiments of the Gaikwar administration on the
suggestions therein contained, and upon their motives (which this Government
cannot but consider at present as very questionable in point of justice and
policy) for appearing to have thus given a ficticious value to their new
coinage, such as it is supposed the acting resident was not privy to, or he
would not have allowed it to take place without at least advising the
Government thereof, on an occasion so interesting with regard to the Company’s revenue
interests in the northern division of Guzarat.
Minute of the Board, dated
Ordered that the mint master to be
called on to report what is the lowest silver and gold coin now stamped at the
mint, and whether he be aware of any and what objection to even quarter and
eights of silver rupees, or four and two anna pieces such as would probably
prove very convenient in the local circulation.
Letter from the mint master (Osborne) to
Government, dated
I have the honor to report in reply to
your letter dated the 26th instant that the lowest gold coin stamped
at the mint si the rupee and I am of opinion that it would not be advisable to
stamp gold coins in sub divisions of a rupee because, as the work of the mint
is executed by manual labour, we are precluded from enjoying the same
advantages of extreme accuracy and nicety such as machinery alone can achieve.
The above objection, however, does not
apply with equal force to the silver coinage and I am opinion that the silver
rupee may be coined in sub divisions of halves and quarters without
inconvenience.
Ordered Mr Osborne be informed that is
was only meant that the gold called pancheas or third of gold mohur should be
coined with another subdivision, fifths or 3 rupees, but the subdivisions or
those proposed by Mr Osborne for the silver rupees need not be entered on till
the grand object of coining 10 lacs of value in gold mohurs be effected.
Letter from the assay master (R Stewart)
to Government, dated
I request that you will be pleased to
inform the Honble the Governor in Council that the infirm state of my health at
present renders me unfit to attend the daily proceedings of the committee
appointed by Government to examine the treasure imported on his Majesty’s ship
Caroline.
That if I enjoyed the most perfect health,
my attendance there would preclude the possibility of my performing the duties
of my office as assay master, which I consider as alone connecting me with that
committee, and which I also consider as paramount to those of the committee
itself.
By the orders of Government transmitted
through you to the committee, I conceive that the primary object of Government
is to put into circulation the treasure contained in that consignment, with the
least possible delay. The procedings of the committee hitherto, have been
directed towards that object, by first examining the gold bullion, and
delivering it to the mint for coinage, in the presence of the mint undertakers,
without further process than that of assay, which falls immediately on my
department. That process from its nature required perhaps more time and
attention than the Honble the Governor in Council may be aware of, and for
which I consider myself alone responsible.
The daily coinage at the mint, at
present, amounts to between fifty and sixty thousand rupees in gold, a sum
which the Honble the Governor in Council would not hold me justifiable in
passing into the treasury without assay; and while I am far from suspecting the
integrity of the mint undertakers of any disposition towards fraud, yet the Board
will easily perceive that the transmission of so large sums, unexamined, must
facilitate such an attempt, were it ever in contemplation.
Under these circumstances I trust that
the Honble the Governor in Council will see the propriety as well as the necessity
of the representation which I now make, and in consequence be pleased to direct
that my attendance at the committee be dispensed with further than it may be
required in my capacity as assay master for ascertaining the weight and assay
of bullion independently of the different coins, which compose that consigment,
which can only be examined in tola.
If the Honble the Governor in Council
should be pleased to acquiesce in this request, I hope to be able to perform
all the duties of my office and at the same time keep the mint fully employed
until the object of Government be attained so far as regards the present
consigment.
This was referred to the treasury
committee to see if there were any objections
Letter from the mint master (GC Osborne)
to Government, dated
The letter encloses a petition from the
Purvoes (who appear to keep the accounts) and the sepoys of the mint asking for
more money. The correspondence ends with a minute of the Board:
As the mint was only revived in 1800,
ordered that the mint master be called upon to report whether or not these
petitioners were kept on its establishment all the time that the business of
the department had ceased.
Letter from the mint master (GC Osborne)
to Government, dated
The orders of Government dated the 30th
November required that the mint department should supply 6 lacs of rupees from
the gold bullion imported by the Caroline on this day the 28th
December.
This requisition on the mint was made
under the idea that the bullion committee would begin their examination and
delivery to the mint office from Monday 3rd December.
The Honble Board must be aware that an
unexpected delay took place in the operations of the committee so that the mint
could not begin its work until the 12th of this month. This delay
will not however occasion any disappointment to the views of Government
because, not only have the 6 lacs requested by Government been coined, but a
surplus of two lacs of rupees.
I trust the efficiency of the mint will
give considerable satisfaction to the Honble the Governor in Council.
It is certainly greater than could have
been expected under the influence of the unforeseen delay of 10 days, and the
little accommodation the ruinous state of the mint affords to the contractor’s
department.
It is my duty to add that the contractor
has on this occasion shewn a degree of zeal and activity which entitles him to
the approbation of the Honble the Governor in Council.
The Board congratulated everyone
involved and suggested that the mint contractor be given a shawl in recognition
Letter from the assay master (R Stewart)
to Government, dated
In obedience to the orders of the Honble
Governor in Council transmitted by your letter of 28th instant,
received late in the evening of 29th, directing me to proceed
immediately to ascertain the value of the Arcot rupees received in the late
consignment from Madras, compared to that of the Bombay rupees, I have honor to
forward for the information of the Board, a statement of the relative value of
these coins founded on a careful assay of them.
It is necessary to observe that the
Arcot rupee contained in this assignment are composed of two distinct coins,
differing from each other both in regard to weight and value, as will appear by
the statement to which I allude.
By the term ‘New Arcot’ I mean to be
understood the coin struck at Madras by means of European machinery, and by the
‘Old Arcot Rupees’ that which is formed
according to the ordinary method of coinage practiced in the country…
Letter from the assay master (R Stewart)
to Government, dated
In obedience to the orders of the
Governor in Council, transmitted to me through Mr Secretary Farish by his
circular letter, under date the 10th instant, calling upon me to
deliver in upon honor a detailed statement of the payments by me to those
employed under me for the months of October and November last, accompanied with
a list and attested copy of vouchers or
receipts thereof, and with such remarks as I deem it necessary to accompany my
report, I have the honor to state:
That to the office of assay master, the
Honble the Governor General in Council has never to my knowledge offered any
establishment of servants, assistants or any allowance for necessary attendance
on it and that, of consequence, I cannot afford any detailed account of
expenses that have been entirely defrayed by myself without having kept any
memoranda.
That I conceive no gentleman of
education or principle would have applied for any such allowances under the liberal
salary of Rupees 1000 per month, which the Honble the Governor in Council had
awarded to that office under my immediate predecessor, a person whom no one can
name without the feeling of respect, due to honor and integrity and which,
after minute investigation, was sanctioned with the full approbation of the
Honble Court of Directors in as much as that after the Honble Court has by
their own authority reduced the salary of Rupees 1000 per month first granted
by the Honble the Governor in Council, to Rupees 500, they, upon the
representations of that gentleman, sanctioned by the approbation of the Honble
the Governor in Council, not only restored the original salary, but also the
difference between it and the reduced salary during the intermediate period.
That the salary of Rupees 1000 per month
annexed to the office of the assay master was on 1st January 1809,
while I had acted without pay for Mr Scott, from the month of May 1808 till
March 1809 reduced to rupees 500 per month.
That I have from motives of necessity
caused by a greatly impaired state of health and for the support of my family
after a period of 22 years service, continued to hold a situation of great
honor, of great importance and of great responsibility, and at the present time
of great labour, without an adequate salary.
I have taken the opportunity which Mr
Secretary Farish’s letter seems to afford me, of stating these few facts for
the information of the Honble the Governor in Council and also for that of the
Honble the Court of Directors in preference to sending to the latter a formal
memorial, trusting that this letter will be forwarded to them, as such, by the
Honble the Governor in Council, on the Exeter, but if not that I may have due
notice to enable me to comply with the orders of Government as advertised in
the Bombay Courier of the 22nd instant.
…Resolved that the preceding address be
sent home…
Letter from the mint master (GC Osborne)
to Government, dated
I shall present to the mint contractor
in the name of Government the shawl which the Honble the Governor General in
Council has been so gracious as to authorize me to give him in testimony of the
Honble Board’s satisfaction at the activity displayed in the late operations of
the mint.
I beg leave on this occasion to state
that the manager of the mint, named Cooshall, is entitled to great credit in
removing all difficulties which a person less zealously disposed to meet the
wishes of Government might have reasonably raised to the recent rapid coinage.
I respectfully request therefore that I
may be allowed to present Cooshall with a similar mark of the Honble Board’s
high approbation.
Anticipating the liberal compliance of
the Honble the Governor in Council, in this humble request, I hand up the
enclosed bill.
This was agreed
Letter from the mint master (GC Osborne)
to Government, dated
I have the honor to acknowledge your
letter dated 18th instant, calling on me to state for the
information of the Honble the Governor in Council whether the native
establishment attached to the mint office drew their allowance while the
business of the mint ceased, I have the honor to report that on a retrospect of
the last thirty years, the Bombay mint does not appear to have ever ceased
working altogether except during the short period of one year (the official
year 1794/5) and that the native establishment were not then deprived of their
stipends.
Previously to the year 1800 the mint was
in a very inefficient state and the coinage was small compared to what it has
since been.
I do not find that any increase of
salary has ever been granted to the petitioners, although the business has
increased so considerably since 1800.
As the petitioners, notwithstanding age
and infirmity, are active and attentive to their duty and [app…ly], I hope the
Honble the Governor in Council will extend his bounty to them.
For the further satisfaction of the
Honble the Governor in Council I annex a statement exhibiting the annual extent
of the operations of the mint for the last 30 years, viz 1780/1 to 1809/10.
Statement exhibiting the annual
operations of the mint for the last 30 years, Viz from 1780/1 to 1809/10
|
Date |
Rupees |
Annas |
Reas |
|
|
16,030 |
2 |
81 |
|
1781/2 |
75,155 |
1 |
17 |
|
1782/3 |
240,146 |
|
17 |
|
1783/4 |
10,311 |
0 |
73 |
|
1784/5 |
252,182 |
1 |
01 |
|
1785/6 |
145,391 |
0 |
52 |
|
1786/7 |
29,072 |
1 |
52 |
|
1787/8 |
130,923 |
0 |
0 |
|
1788/9 |
74,950 |
2 |
54 |
|
1789/90 |
161,935 |
1 |
57 |
|
1790/1 |
105,251 |
0 |
04 |
|
1791/2 |
209,979 |
2 |
44 |
|
1792/3 |
97,987 |
2 |
0 |
|
1793/4 |
86,097 |
2 |
80 |
|
1794/5 |
0 |
|
|
|
1795/6 |
279,532 |
2 |
36 |
|
1796/7 |
370,596 |
0 |
75 |
|
1797/8 |
93,284 |
2 |
87 |
|
1798/9 |
132,168 |
2 |
62 |
|
1799/1800 |
434,508 |
3 |
0 |
|
1800/1 |
1,586,340 |
1 |
42 |
|
1801/2 |
1,255,586 |
2 |
50 |
|
1802/3 |
555,084 |
0 |
16 |
|
1803/4 |
736,527 |
0 |
66 |
|
1804/5 |
1,666,942 |
3 |
71 |
|
1805/6 |
632,549 |
0 |
67 |
|
1806/7 |
3,721,642 |
3 |
28 |
|
1807/8 |
874,870 |
3 |
49 |
|
1808/9 |
984.029 |
3 |
40 |
|
1809/10 |
795,206 |
3 |
10 |
Letter from the assay master (R Steuart)
to Government, dated
In reply to a letter asking why he had
withheld his signature from the proceedings of the treasure committee.
He states that he did not intend to
withhold his signature. This appears to have arisen from a report by Mr Munro
and Mr Agar
Letter from the assay master (R Steuart)
to Government, dated
I have the honor to report on your
letter of yesterday’s date giving cover to one from the judge and magistrate of
Surat with a rupee accompanying, said to be a counterfeit coin of the Bombay
currency, for examination.
The coin in question was first submitted
to the examination of the undertakers for the mint, who immediately declared
that it was not struck at the
In point of weight, the coin was exactly
of the Bombay standard of 179 grains, but on cutting it for assay it was
immediately discovered to be a piece of copper with an extremely thin coating
of silver so then as certainly as not to exceed one fiftieth part of its
weight, which rendered any further examination unnecessary.
I have only further to observe that I agree
entirely in the opinion of Mr […..] that the manufacture of the counterfeit is
so well executed as very likely to impose on and prove extremely injurious to
the public, while at the same time it affords a convincing and also an alarming
proof of the facility with which our coinage may be imitated whilst it
continues on its present footing.
Ordered that copies of the
correspondence on the subject of the preceding letter be referred to the Acting
Resident at Baroda with instructions to inform the Thacoor of Bhownagar of the
suspicions thus entertained of the fabrication of base coins in semblance of
the Bombay rupee being carried on in his town; such as it is accordingly
expected and required that he adopt immediate and effective measures to put a
stop to and to detect the falsifiers, in default of which Government may, with
whatever reluctance, be obliged to interfer in the research in a manner which
it is expected the Thackoor will not by any supiness on the present occasion,
afford any ground for.
Letter from the assay master (Steuart)
to Government, dated
He asks to see a letter sent to
Government by Mr Munro, the President of the treasure committee. This was
granted
Letter from the mint master (GC Osborne)
to Government, dated
The delapidated state of the mint has so
often been brought under the notice of your Honble Board that it may be
superflous to do more on the present occasion than simply to advert to its
ruinous condition as being a circumstance perfectly established and notorious.
Your Honble Board was pleased on the
arrival of the bullion from
Anxious however, to avoid any additional
expense that might not be indispensibly necessary, I did not avail myself of
this permission of your Honble Board, but I now find it my duty to recommend
that some spacious warehouses may be immediately hired for the purpose of
carrying on the silver coinage.
There can be no doubt that the mint will
have to work throughout the monsoon, and I am of opinion that the present state
of the mint building precludes all hope that it will be available to any
adequate extent during the rainy season.
Even during the fair season, it does not
afford sufficient accomodation for carrying on an extensive silver coinage, no
more than 20,000 per diem can be coined in it, which is by no means equal to
the demand for its labours.
As a considerable quantity of the
bullion has been imported from China, which the merchants will be obliged to
re-export if they cannot convert it into specie at the mint, and as a
considerable quantity of bullion is expected by His Majecty’s ship Phoeton and
Modeste, I humbly suggest that every available means should be resorted to for
giving to the mint a degree of efficiency necessary to enable it to meet the
heavy and unprecedented demands that will be made upon it.
The arrangements I find it my duty to
recommend are necessarily attended with some expense, but by no means
approximating in proportion to the increased revenue the Honble Company will
derive from the mint department in consequence of its increased actibity and
efficiency.
In support of which satisfactory
proposition it may be sufficient here to state that the nett revenue of the
mint in the month of December alone amounts to rupees 16,000
Estimate of the probable expense that
will attend the present proposed arrangement.
1st Rent of buildings for the mintage 500
2nd Temporary extra
establishment
of two purvoes and 6 peons 186
686
In explanation of the second head of
temporary extra charge it may be sufficient [reveal] to the attention of your Hinble
Board that two Purvoes now attached to the mint office, tho’ very zealous in
their attention to the duties of the office, are aged and otherwise infirm, so
much so as to render them inadequate to the additional labour which must attend
an increased activity in the business of the department, this involving very
delicate and tedious calculations.
When the extra business of the mint
ceases, the final extra establishment can of course be discharged.
Should your Hinble Board be pleased to
comply with my present recommendation, I request that the Civil Engineer may be
directed to afford every assistance requisite to enable me to fit up and adapt
such premises as I may select for the temporary accomodation of that part of
that part of the mint establishment engaged in the coinage of silver.
Resolved that orders be issued to the
acting superintending Engineer in compliance with the recommendation submitted
in the concluding paragraph of the preceding letter.
Ordered that a copy of the preceding
letter be referred to the Covil Auditor for his consideration and report as
required in all similar cases on the application for native establishments
applied for by Mr Osborne.
Letter from the mint master (GC Osborne)
to Government, dated
I have the honor to hand up specimens of
the Bombay coinage taken out of the mint of this Presidency for transmission to
the Supreme Government, amounting to rupees 225 as follows:
No 1 contains 10 gold mohurs each at 15
rupees
No 2 ditto 10 gold puncheas at 5 Rs each
No 3 ditto 10 gold rupees
No 4 ditto 10 silver half rupees
No 5 ditto 10 silver rupees
I beg to be informed if the amount thus
transmitted is to be debited to the Bengal Presidency.
Ordered that the specimens of the
Letter from the assay master (R Steuart)
to Government, dated
Long letter from Steuart stating that he
had been accused of various (minor) things by Mr Munro and that he hadn’t done
them. The Board appeared to agree with this.
Letter from the assay master (R Steuart)
to Government, dated
In acknowledging Mr Secretary Farish’s
letter of the 26th ultimo giving cover to the report of the assay
master of Fort St George on the out turn of the gold and silver bullion
supplied on the Phoeton for this Presidency, I think it necessary to bring to
the notice of the Noble the Governor in Council the observations I have made on
the former of these reports, Viz of the gold bullion, in order to apprize the Honble
Board of the difficulty which, in my opinion, must occur to render that part of
the consignment available and with the view that they mey authorize the best
means to be adopted to obviate it.
After a careful examination of the
invoice, I find the average purity of the whole of that part of the consignment
(amounting to twelve lacs of rupees) does not exceed fifty touch, or that it
contains fifty per cent of alloy, a state of bullion which in my opinion could
not be offered to any mint to be converted into coin of 92 touch at the
ordinary rate of coinage by contract as is the case here.
I may safely venture to affirm that the
commission allowed by Government to the contractor for the mint, which is in
gold [1 1/11] per cent, would not be sufficient to cover the expense of
refining of gold, on a scale sufficiently large to enable me to state the
probable expense attending it. I am unable at present to form any estimate and
shall therefore want the orders of the Honble Board should they deem it proper
to authorize a trial to be made.
Minute
The expense of refining the […..] bar
gold bullion received by his Majesty’s frigate Phoeton must be submitted to,
and Mr Steuart is instructed to report his estimate of the amount thereof as
soon as he can possibly be able to pronounce thereon.
Letter from the mint master (GC Osborne)
to Government, dated
The quantity of silver bullion imported
from
When intimated to your Honble Board that
it seemed expedient to hire additional premises for the accommodation of the
mint department, my recommendation was founded on the ground
that the mint would have to coin nearly a crore of rupees Viz:
Bullion and money to be recoined by the
Phoeton 30 lacs
Bullion by the Modeste 40
lacs
Coins to be recoined by the Fox 15 lacs
Bullion of individuals 15
lacs
100
lacs
The quantity of bullion imported by
individuals appears to be very trifling. We must therefore deduct on that
account about 10 lacs.
The bullion etc by the Phoeton on which
I had formerly calculated must now be also deducted as this part of the general
remittance is not to be recoined…30 lacs. Total lacs 40.
This leaves about 60 lacs which the
department will have to work upon, and I am of opinion this can be done without
putting the Honble Company to the additional expenses of hiring further
premises for its accommodation, subject however to the condition that your
Honble Board will be pleased to direct the Superintending Engineer to enter
upon a few trifling repairs of the old mint office. It will be absolutely
necessary to cause these repairs before the rains, or the place will otherwise
be then untenable, and I wish the repairs to be entered on immediately as so
many of the people are exposed to the intense heat of the sun, an inconvenience
to which they are necessarily subject from the ruined state of the mint.
I have already described the two Purvoes
attached to this department as being so superannuated and infirm as to be
totally unequal to the additional duty imposed on them by the unprecedented
extensive operations now carried on, and as these involve calculations of great
nicety and importance, I am compelled to avail myself of that small increase of
establishment authorize by your commands dated the 11th of this
month.
Ordered that the Superintendent be
ordered to make a reference to the mint master and submit thereon an estimate
of the expense likely to be incurred by the proposed repairs to the mint.
Minute
The Board observing that the assay
master has not yet made the report adverted to in the resolution of the 4th
instant, as to the expense likely to be incurred by the recoinage of the Madras
gold coins, imported by the Fox, the Accountant General is (in the exercise of
the general control with which he has been this day vested, over the
proceedings of the Treasure Committee, sub-treasurer, mint and assay masters,
as incident to the late large importations of the precious metals for the
discharge of the public debts) to call on Dr Stewart to account, for the
information of Government for this [delay], the sub-treasuer, mint and assay
masters being at the same time advised by Mr Elphinstone that as it is now too
late to wait for this expected information, which is also of the less real
consequence, since whatever the expense proves it must be incurred, no time is
accordingly to be, under these circumstances, in the mint master beginning on
the recoinage of the twelve and a half lacks of gold.
Letter from the acting mint master (J
Wedderburn) to Government, dated
I have the honor to inform you that on
the 4th instant I received charge of the mint office from the mint
master, Mr Osborne, preparatory to his embarkation at which period there was a
balance in the hands of the contractor due to the Honble Company of Rupees
ninety six thousand one hundred and eighty and six reas (96,180: : 6)
Letter from the acting mint master (J
Wedderburn) to Government, dated
I request you will have the goodness to
procure an order from the Honble the Governor in Council to the Superintending
Engineer for the erection of a shed over the platform used at the mint for the
operation of stamping.
As the shed in question will not be at
all exposed to the action of fire and does not therefore require to be composed
of very solid materials, expense can be but trifling compared with the very
desirable object of giving every possible degree of efficiency to the mint in
the extensive coinage in which it is engaged.
Ordered that the opinion of the Acting
Superintending Engineer be taken as to the safety of such shed as is proposed
by Mr Wedderburn and of what material Major Brookes would recommend that it
should be constructed.
Letter from the acting mint master (J
Wedderburn) to Government, dated
He ashed that the platform for stamping
should be extended as well as a shed built over it
The engineer was asked to inspect it.
Letter from the acting mint master (J
Wedderburn) to Government, dated
Long letter discussing amongst other
things, the state of the mint buildings. He anticipates that machinery is to be
sent from
Mint master was paid 1000 rupees per month
from 1801 to end 1808
Assay master the same
From
Native writers were paid 53 rupees 1
quarter and 33 reas per month from beginning 1801 to end 1810
Mint Output
|
From
1st Jan to 31st Dec each year |
Gold
Mohurs (in rupees) |
Gold
rupees |
Silver
(in rupees) |
Copper
(in rupees) |
|
1801 |
2,170,458 |
121,265 |
100,217 |
|
|
1802 |
91,048 |
121,599 |
|
|
|
1803 |
472,953 |
252,588 |
4753 |
104,201 |
|
1804 |
2,083,385 |
|
|
|
|
1805 |
265,509 |
|
|
|
|
1806 |
717,065 |
|
665,141 |
|
|
1807 |
798,439 |
|
265,373 |
|
|
1808 |
132,844 |
|
515,332 |
|
|
1809 |
220,452 |
|
36,401 |
6795 |
|
1810 |
1,554,891 |
|
67,709 |
61151 |
Letter from the acting mint master (J
Wedderburn) to Government, dated
In reference to the subject of my letter
of the 27th July last I have the honor to hand up, for transmission
home by the ships now under dispatch, a list framed with the advice and
assistance of the assay master, of sundry articles, which under the view system
intended to be adopted with respect to the mint at this Presidency it will be
necessary to procure from Europe.
It may be precautionary and not
irrelevant to the present subject to notice that several chests of crucibles
sent out by the Honble Court about six or seven years ago, for the use of this
mint, remain still on hand, having proved on trial of so very inferior a
quality, as to be altogether unserviceable.
List of Articles
2 sets of assay scales with [touch]
weights for both gold and silver. Carat, grain and quarter weights for gold and
assay pound, ounce, pennyweights and grains for silver. The unit or assay pound
for gold to weigh 12 grains troy and that for silver eighteen grains ditto.
2 sets of small scales capable of
weighing one pound troy with grain weights from five thousand (5000) grains
downwards to tenths of a grain
2 sets of scales for gold capable of
weighing from ten (10) to fifteen (15) pounds troy with proportionate weights.
2 ditto for silver capable of weighing a
hundred (100) pounds troy with proportionate weights from 100 pounds downwards.
One thousand (1000) nests of black lead
crucibles.
Ordered that the indent accompanying the
preceding letter be forwarded to England. The Honble Governor in Council
regrets that the unserviceable state of the crucibles sent out by the
Letter from the acting mint master (J
Wedderburn) to Government, dated
He submits a report of the income of the
mint. (Pages stuck together so hard to see much but doesn’t provide details of
mint output or anything like that.
Letter from the mint master (H Munro) to
Government, dated
I have the honor to acknowledge receipt
of your letter of the 10th instant and to acquaint you for the
information of the Honble the Governor in Council that I this day received
charge of the mint department from Mr Wedderburn.
Enclosed herewith is the inventory of
the treasure and records as delivered over by Mr Wedderburn which I request you
will lay before the Honble Board.
Letter from the Mr Noton to Government,
dated
Mr Noton presents his credentials as
assay master. He is duly appointed and Mr Steuart is relieved of the position
Letter from the Mr Noton to Government,
undated but about 4th November 1812
Asks to have a proper assay office built
and is asked to get an estimate.
Letter from the Mr Noton to Government,
dated
Understanding that the allowances which
are made to such of the Honble Company’s civil servants as are out of employ
are invariably paid to them at the exchange of 2/3 (two and three pence) per
rupee, and that the adjustments of the commercial transactions of this
Government and the Court of Directors, as well as of the short delivery
accounts of the vessels employed in their service, are all regulated by the
same exchange, I take the liberty of requesting you to submit to the Right
Honble the Governor in Council my respectful application to be allowed to have
my salary converted into Bombay currency at that rate.
I am induced to trespass on the Honble
Board on this occasion from having been informed by the Civil Paymaster that he
was not authorized to pay me at any other exchange than 2/6 (two and sixpence)
per rupee without the previous sanction of the Right Honble the Governor in
Council which, under the circumstances I have had the honor of bringing to
their notice, may, I trust, be forwarded to his department.
Ordered that Mr Noton be informed that
as a covented servant of the Honble Company the Board admit of his salary being
paid at 2/3 per rupee in like manner with the gentlemen of the civil
establishment, requisite communication of which is to be made to the Civil
Paymaster, Accountant General and Civil Auditor.
Letter from the Mr Noton (assay master)
to Government, dated
Having lately received a letter from Mr
Ryder, Assay Master at Madras, in which he informs me he receives (35) [five]
and thirty pagodas a month for house rent and having received my appointment to
this Presidency from the Honble Court of Directors under exactly the same
circumstances as Mr Ryder did, I beg leave to enclose you his letter requesting
you to submit that statement to the Right Honble the Governor in Council with
my respectful application for a similar indulgence for house rent.
Ordered that Mr Noton be informed that
as the Honble the Court of Directors have already fixed his allowance as stated
in his indentures, we cannot increase them, unless some further explanation of
their intentions be communicated when the regular notification of his
appointment shall reach this Presidency.
Letter from the Mr Edward (Acting Mint
Master) to Government, dated
I will thank you to do me the favour to
represent to the Right Honble the Governor in Council that, it being my
intention to proceed to Europe with the permission of Government by one of the
ships now under dispatch and wishing to have a little more leisure time in
order to arrange my affairs in this country, I shall be extremely obliged to
the Right Honble the Governor in Council to relieve me of the duties of the
mint office.
Ordered that Mr Edward be informed that
he will be relieved in the course of a few days from the duties of the mint
office.
Letter from the Mr Coward (Acting Mint
Master), Mr Kaye (accountant general), Mr Wedderburn (sub-treasurer), Mr Noton
(assay master) to Government, dated
We have now the honor to reply to Mr
Secretary Newnham’s of the 31st of May, enclosing an extract being
the 3rd and 12th paragraphs of a letter from the Honble
Court of Directors dated the 18th December last, and desiring us to
consider and report on the expediency or otherwise of conducting a coinage of
copper at this Presidency, and on the propriety in the former case, of applying
to Bengal for the requisite machinery or, in the latter, for a supply of copper
pice.
With regard to the first of these points
we are decidedly of opinion that it will be much better both for the sake of
our own credit, as well as the profit derivable from the operation, to coin our
own copper, and with respect to the second, that as we have now a fair prospect
of being supplied with a complete coining apparatus from Madras, it will be
unnecessary to seek for any aid from Bengal. In the meantime the present system
may be allowed to continue, by which the mint is enabled to supply the treasury
with copper pice sufficient for its ordinary wants, of rude manufacture it is
true, but not more than out gold or silver coinage.
As the Honble Court’s orders seem quite
peremptory respecting the division of the rupee into 64 instead of 50 pice, we
refrain from offering any objections to the change, but there is one
circumstance that would appear to have been overlooked by them, which in our
opinion is an insuperable bar to the immediate introduction here of the Bengal
weight for the pice, namely that the half pice or 4 rea piece of the European
coinages now in circulation is the same, or very nearly the same, weight as the
Calcutta whole pice, or what would be here at the rate of 64 pice to the rupee,
the 6 ¼ rea piece.
Provided, however, there be no more
coined than is actually required for the circulation, we see no great objection
to the immediate reduction to the weight of our copper coin by coining for
instance, forty (40) pice to the seer when each 6 ¼ rea piece will weigh troy
grains 122 ½ , nearly which at 64 per rupee will make 7840 troy grains of
copper instead of 8175 as heretofore (a diminution of above 4 per cent)
represent a rupee.
Thereafter when the new coinage shall
have thoroughly displaced the old, we may, if it should be thought expedient,
reduce the weight still further, though it would perhaps be politic to avoid
attempting even the diminution above mentioned, or indeed any other change,
until we have secured the aid of machinery, lest the profit, already 7 per cent
to the Company, should only seem to encourage fraudulent imitations.
Ordered that the Mint Committee be
called upon to state what part of the copper coin recently authorized has been
coined and when the coinage of the whole may be likely to be effected.
Letter from the Mr Noton (assay master)
to Government, dated
I request you will do me the favour to
state to the Right Honble the Governor in Council that in consequence of the
white ant having got into the assay balance in my office, it is requisite to be
repaired, and to request an order may be forwarded to the Civil Engineer’s
Department for effecting the same.
Understanding that the Honble Company’s
warehouses are not at this time fully occupied, I beg leave with submission to
recommend that the packages of assaying apparatus received by the last fleet
and now under charge of a sentry, be deposited therein until such time as they
may be wanted for the service of the mint.
Ordered that the Superintending Engineer
be directed to report what may be proper to be done in respect to the repair if
the assay balance alluded to in the first para of the preceding letter.
In reference to the 2nd para,
the Assay Master is to be informed that he must retain charge of the stores of
his department as is the case of all other officers.
Letter from the Mr Edward (Acting Mint
Master) to Government, dated
In acknowledgement of the receipt of your
letter of the 28th ultimo, I have the honor to enclose for the
information of the Right Honble the Governor in Council an account of copper
received from the Warehouse Keeper with the balance required to complete the
amount of copper coinage directed to be made by the orders of Government.
The quantity which remains to be
received is 767 Cwt or
|
|
Rs |
|
January
2nd |
12,217 |
|
January
20th |
50,000 |
|
February
10th |
50,000 |
|
|
112,217 |
Letter from the Mr Edward (Acting Mint
Master) to Government, dated
I have the honor to inform you that two
of the Purvoes of the mint office named [Purshotun Mungajee] and Dadajee
Sunkersett have requested me to make application for them to be admitted as
subscribers to the Purvoes fund. They have stated to me that they did not
perfectly understand the principles on which the fund was established at the
time it was instituted and the beneficial effects to be derived to them and
their families by becoming subscribers, but being now better acquainted with
the advantages of this institution they request to be admitted as members of
the fund and they agree to pay whatever subscription may be required of them.
The Board approving of the regulations
for the Purvoes fund resolved that copies thereof be circulated to the several
departments at the Presidency and subordinates for the information of the
Purvoes and clerks in their offices.
Ordred that a copy of this regulation be
sent to the Supreme Government in compliance with the application preferred in
Mr Secretary Rickett’s letter of 7th June.
Boards Collection 1796-1830 checked
f/4/347, No. 8117 – 1807/8 copper coins
for
f/4/1016
f/4/1017. Both about the Indian coinage
in general leading to the introduction of new mints and then proposals for a
uniform coinage.
1814 onwards look at mint records. Could
also try Bombay Financial Procedings
Bombay Mint Procedings.
IOR P/411/35. p. 72
Regulation for the Management of the mint
at
Letter from the
In obedience to the orders of the Right
Honble the Governor in Council conveyed to us in your letter of the 30th
ultimo, we have procured from the Honble Company’s solicitors and have now the
honor to submit the draft of an agreement to be entered into with Pestonjee
Bhicajee on his undertaking the management of the mint, framed in conformity to
the orders issued to Mr Stephenson under date the 14th September
last, and providing as far as is practicable both against embezzlement and
fraud. The clause limiting the contract to a term of […] years has, we
understand, been inserted with the approbation of the Board.
The Board approve of the draft of
agreement to be entered into with Pestonjee Bhicajee on his undertaking the
management of the mint and direct that the same have effect from the end of the
present month.
Resolved that the draft be returned in
order that the Company’s solicitor may see it duly executed by the parties
concerned.
The actual contract is written out
pp.15-22
Letter from the Bombay Mint Master (R
Stewart) to Government, dated
In acknowledging your letter of the 9th
instant authorising the coinage of one lac of rupees in panchias and gold
rupees I have to request the further instructions of the Right Honble the
Governor in Council relative to the present mint contractor in view to his
contract expiring at the end of the present month, in order to avoid any
confusion or dispute that may arise before the present coinage can be carried
into effect.
The mint contractor informs me that a
month and a half will be required to finish the coinage in question and to
enable him to clear his accounts and to dispose of his stock of materials,
which will extend the period of his contract beyond the middle of February.
The contractor is willing to execute the
proposed coinage at the rates specified in his last tender, Viz one and a half
per cent on Panchias and one and three quarters on gold rupees, which is on
each one eighth per cent higher than the tender of Pestonjee Bhickajee.
Under these circumstances it appears
necessary that either the present contract should be extended to the 1st
of March next or that the proposed coinage should not be begun until the
execution of that of Pestonjee Bhiccajee, as the urgency of the case may appear
to the Honble the Governor in Council to require.
Ordered that a copy of the preceding
letter be transmitted to the sun Treasurer with directions to report forthwith
whether any inconvenience will arise from the delay incident to the coinage of
one lac of rupees in panchias and gold rupees required for circulation in the
bazar being committed to the new contractor on the commencement of his
contract.
Letter from the sub-Treasurer to
Government, dated
I have the honor to acknowledge the
receipt, yesterday, of your letter dated the 13th instant with
accompaniment from the mint master on the subject of the recently ordered
coinage of Panchias and Gold Rupees to the extent of one lack of rupees and
desiring me to report forthwith, whether any inconvenience will arise from the
delay incident to the coinage of the being committed to the new contractor.
I request you will have the goodness to
inform the Right Honble the Governor in Council that I do consider the demand
for Panchias and Gold Rupees at present as very urgent, and that I should have
recommended the measure earlier had I not been led to expect a large supply of
silver rupees by the Emaad and, while that hope lasted, I was unwilling to
press what I feared might occasion embarrassment either to the old or new mint
contractors.
As it would probably conduce essentially
to relieve the inconvenience experienced in the bazar from the want of coins of
small value to throw a greater amount of copper into circulation, I beg to
suggest that a coinage of copper be likewise ordered to the extent of about
twenty-five thousand rupees. The present minters will not indeed be able to
execute above half that amount even if his contract were to be continued to the
end of February, but he need not be directed to undertake more than he can
easily complete within that period and the new contractor may finish the
remainder.
Ordered that a copy of the preceding
letter be transmitted to the mint master with directions to order the coinage
of the new Panchias and Gold Rupees authorized under date the 9th
instant to be undertaken by the present contractor, and that of copper pice
amounting to rupees 25,000 in the manner recommended by Mr Wedderburn.
Ordered that the Company’s solicitors be
advised of this arrangement with directions to consult with the mint master as
to the date from which the contract with Pestonjee Bhaccajee should commence,
and to fix it accordingly.
Bombay Mint Proceedings.
IOR P/411/36. p. 113
Letter from the
They stated that they had considered the
information received from the
Regulations for the guidance of the mint
and assay masters and mint contractor in conducting the duties of their
respective departments in the mint.
The mint master shall have the general
superintendence and control of every department of the mint,
The mint master shall establish such
checks to prevent gold or silver bullion being coined in or out of the mint
without his knowledge, or other frauds, as he may deem expedient.
The gold mohur or silver rupee of the
Surat or Mogul impression, now coined, being of the following weights and
standard shall continue to be the established coins and none others shall be
coined without the special orders of Government, and the gold mohurs third,
commonly called the panchia, and the single gold rupee, and the halves and
quarters of the single rupee shall continue to be coined of the same standard
and of proportionate weights.
Gold mohur or Silver rupee
Pure gold or silver 164 grains 64 pennyweight
Alloy 14
grains 32 pennyweight
Touch or parts of pure gold or silver in
100 92
Alloy 8
If the gold coins shall turn out to vary
no more in weight and touch taken together than 1/3 per cent, or the silver
coins no more than ½ per cent (the remedy or allowance for error within the
King’s mint being above 2/3 per cent for the former and above 4/5 per cent for
the latter) over or under the standard fixed, they shall be deemed good, but if
they shall vary more in gold or silver than the limits above prescribed, the
coins shall be remelted and alligated to the proper standard.
The mint master shall keep regular
accounts of all the bullion coined and take care that the proper return of
standard coins is made to the bullion owner by the contractor after deducting
the established duties.
A duty of 1 ½ percent shall be levied on
all gold bullion and 3 per cent on all silver bullion coined to defray the
expense of coinage exclusive of any charges that may hereafter be established
for refinage.
After deducting from the amount of the
duties collected the allowances due to the contractor, agreeably to the terms
of his contract, the balance shall be paid by the mint master into the general
treasury.
When the coins are stamped, the produce
of the different meltings must be kept as much as possible apart from each
other, under the custody of the mint master and notice be given to the assay
master whose duty it will be to take promiscuously two or more pieces from
every thousand to weigh and assay the specimens of each melting separately and
to enter the result in a register.
If on examination the coins so weighed
prove of the proper weight and standard or within the remedy allowed, the assay
master shall give a pass note for the whole number stamped, but before they are
issued the mint master shall give notice of the circumstance to the mint
committee who shall attend at the mint and collect therefrom such number of
coins as they think proper, or pix specimens, of which they are to forward a
portion half yearly to Government for transmission to Bengal and England, the
specimens to be deposited in the interim in the treasury under the keys of the
committee.
If on the contrary the coins in question
prove to be beyond the remedy or allowance for error prescribed in the 4th
clause, the assay master shall report the same to the mint master in order that
the whole of the coins from which the assay specimens were taken may be melted
down and recoined of the proper standard, and if he should see reason to
suspect that unfair advantage was attempted to be taken of the remedy or
allowance for errors, he is to apprize the mint master thereof in order that he
may give a suitable caution to the contractor.
The assay master shall also from time to
time, at his discretion, but four times a month at least when there is any
coinage going on, take coins from the hands of the workmen and assay them and
report the result to the mint master.
The assay master shall assay all bullion
and coins belonging to the Honble Company that may be delivered over to the
mint for coinage, and report the result to the mint master for the information
of the contractor, who must receive the same by his report.
The assay master shall likewise assay
the bullion or coins of individuals when called upon so to do, in consequence
of any disagreement between them and the contractor respecting the standard,
provided the party or parties consent to have the same melted into government
ingots for that purpose.
The assay master shall assay and report
to the mint master the standard of all bullion sent from the mint for refinage
and repeat the process when it is returned to the mint in a refined state.
The mint committee shall proceed to the
mint at least once in each month and oftener if an extensive coinage be going
on, without giving any previous notice of their intention, & take
indiscriminately from the hands of the workmen such number of coins as they
think proper, and deliver them to the assay master who shall forthwith examine
them and report the result to the committee.
The contractor to deposit a lack of
rupees in Government securities in the Honble Company’s treasury accompanied
with a bond, as a security for making the coins of proper standard, and for the
due performance of the contract.
To receive all gold and silver bullion,
and all foreign coins that may be tendered for coinage by their weight and
touch, and to give in an attested daily account of the same to the mint master.
To make such gold and silver coins and
of such standard as the Right Honble the Governor in Council shall direct.
To coin copper pice for the Honble
Company exclusively.
To give the bullion owners their just
return of specie.
To observe the following rules in
calculating the quantity of standard metal in bullion Viz
If 92 tolas of pure metal are equal to
100 toals of standard (of 92 touch), then 100 tolas of fine metal must be equal
to 108 tolas 965 penyweight of standard.
To keep the coins as near as possible to
the standard and melt down and recoin at his own expense and charge all coins
that the assay master on examination find to deviate too much from the proper
standard.
To conduct every part of the coinage in
the mint buildings provided by the Honble Company for that purpose.
Not to receive either directly of
indirectly any other gain as emolument for coinage over and above the regular
per centage specified in his contract.
The alloy for gold to consist of pure
silver and for silver of pure copper.
To forfeit the contract on the
infringement of any of the above conditions.
Bombay Mint Proceedings.
IOR P/411/36. p. 128
Revised Regulations by
The draft regulations for the guidance
of the mint and assay masters and mint contractor in conducting the duties of
their respective departments in the mint having been fully considered and
undergone sundry modifications the following amended draft has been adopted.
The mint master shall have the general
superintendence and control of every department of the mint,
The mint master shall establish such checks
to prevent gold or silver bullion being coined in or out of the mint without
his knowledge, or other frauds, as he may deem expedient.
The mint master is to keep a register
specifying the quantity of bullion delivered into the mint for coinage, the date
under which it was received and the name of the proprietors.
The gold mohur or silver rupee of the
Surat or Mogul impression, now current, being of the following weights and
standard shall continue to be the established coins and none others shall be coined
witrhout the special orders of Government, and the gold mohurs third, commonly
called the panchia, and the single gold rupee, and the halves and quarters of
the single rupee shall continue to be coined of the same standard and of
proportionate weights.
Gold mohur or Silver rupee
Pure gold or silver 164 grains 64 pennyweight
Alloy 14
grains 32 pennyweight
Touch or parts of pure gold or silver in
100 92
Alloy 8
If the gold coins shall turn out to vary
no more in weight and touch taken together than 1/3 per cent, or the silver
coins no more than ½ per cent (the remedy or allowance for error within the
King’s mint being above 2/3 per cent for the former and above 4/5 per cent for
the latter) over or under the standard fixed, they shall be deemed good, but if
they shall vary more in gold or silver than the limits above prescribed, the
coins shall be remelted and alligated to the proper standard at the sole charge
and expense of the contractor.
The mint master shall keep regular
accounts of all the bullion coined and take care that the proper return of
standard coins is made to the bullion owner by the contractor after deducting
the established duties.
A duty of 2½ percent shall be levied on
the gross out turn of all gold bullion and 3 per cent on the gross out turn of
all silver bullion coined exclusive of any charges that may hereafter be
established for refinage.
After deducting from the amount of the
duties collected the allowances due to the contractor, agreeably to the terms
of his contract, the balance shall be paid by the mint master into the general
treasury.
When the coins are stamped, the produce
of the different meltings must be kept as much as possible apart from each
other, under the custody of the mint master and notice be given to the assay
master whose duty it will be to take promiscuously two or more pieces from
every thousand to weigh and assay the specimens of each melting separately and
to enter the result in a register.
If on examintaion the coins so weighed
prove of the proper weight and standard or within the remedy allowed, the assay
master shall give a pass note for the whole number stamped, but before they are
issued the mint master shall give notice of the circumstance to the mint committee
who shall attend at the mint and collect therefrom such number of coins as they
think proper, or pix specimens, of which they are to forward a portion half
yearly to Government for transmission to Bengal and England, the specimens to
be deposited in the interim in the treasury under the keys of the committee.
If on the contrary the coins in question
prove to be beyond the remedy or allowance for error prescribed in the 4th
clause, the assay master shall report the same to the mint master in order that
the whole of the coins from which the assay specimens were taken may be melted
down and recoined of the proper standard at the expense of the contractor as
already provided for, and if he should see reason to suspect that unfair
advantage was attempted to be taken of the remedy or allowance for errors, he
is to apprize the mint master thereof in order that he may give a suitable
caution to the contractor.
The assay master shall also from time to
time, at his discretion, but four times a month at least when there is any
coinage going on, take coins from the hands of the workmen and assay them and
report the result to the mint master.
The assay master shall assay all bullion
and coins belonging to the Honble Company that may be delivered over to the
mint for coinage, and report the result to the mint master for the information
of the contractor, who must receive the same by his report.
The assay master shall likewise assay
the bullion or coins of individuals when called upon so to do, in consequence
of any disagreement between them and the contractor respecting the standard,
provided the party or parties consent to have the same melted into government
ingots for that purpose.
The assay master shall assay and report
to the mint master the standard of all bullion sent from the mint for refinage
and repeat the process when it is returned to the mint in a refined state.
The mint committee shall proceed to the
mint at least once in each month and oftener if an extensive coinage be going
on, without giving any previous notice of their intention, & take
indiscriminately from the hands of the workmen such number of coins as they
think proper, and deliver them to the assay master who shall forthwith examine
them and report the result to the committee.
The contractor to deposit a lack of
rupees in Government securities in the Honble Company’s treasury accompanied
with a bond, as a security for making the coins of proper standard, and for the
due performance of the contract.
To receive all gold and silver bullion,
and all foreign coins that may be tendered for coinage by their weight and
touch, and to give in an attested daily account of the same to the mint master.
To make such gold and silver coins and
of such standard as the Right Honble the Governor in Council shall direct.
To coin copper pice for the Honble
Company exclusively.
To give the bullion owners their just
return of specie.
To observe the following rules in
calculating the quantity of standard metal in bullion Viz
If 92 tolas of pure metal are equal to
100 toals of standard (of 92 touch), then 100 tolas of fine metal must be equal
to 108 tolas 965 penyweight of standard.
To keep the coins as near as possible to
the standard and melt down and recoin at his own expense and charge all coins
that the assay master on examination find to deviate too much from the proper
standard.
To conduct every part of the coinage in
the mint buildings provided by the Honble Company for that purpose.
Not to receive either directly of
indirectly any other gain as emolument for coinage over and above the regular
per centage specified in his contract.
The alloy for gold to consist of pure
silver and for silver of pure copper.
To forfeit the contract and become
liable to the penalties therein prescribed on the infringement of any of the
above conditions.
It shall be the duty of the mint master
to see that the contractor be not in making his deliveries in any instance
influenced by favor or affectiontowards anyone, but that he makes his
deliveries to the bullion owners on principles of fairness to all parties, and
the mint master shall also be held responsible that the mint shall be in such a
state of efficiency as to be capable if required of returning in specie to the
extent of rupees […] within […] when employed on a gold coinage and of returning
within a like period rupees […] when employed on a silver coinage, being on the
former case case at the rate of rupees […] and in the latter at the rate of
rupees […] per diem, comprehending in both instances from the commencement of
the process of coinage.
Resolved that the amended draft be
referred to the mint committee with directions to afford the necessary
information to enable the Governor in Council to fill up the blanks in the 28th
article.
Letter from the
We have the honot to acknowledge receipt
of your letter dated the 4th instant, transmitting an amended draft
of the regulations for the guidance of the mint and assay masters and contractor
in conducting the duties of their respective departments in the mint and
desiring us to afford the necessary information to enable the Right Honble the
Governor in Council to fill up the blanks in the 28th article.
In reply we request you will have the
goodness respectfully to bring to the notice of the Right Honble the Governor
in Council that as it rests with the contractor to entertain workmen in such
numbers and at such times as suits his convenience. It is wholly out of the
power of the mint master to keep the mint in any certain state of efficiency.
Had the contractor been bound by the
terms of his contract to maintain a permanent establishment, the only mode by
which certain returns could have been ensured, he could not, it is obvious,
have undertaken the coinage at the same low rates as at present, when he is
allowed the privilege of hiring and discharging his workmen according to the
state of the business in the mint.
As it must always be for the interest of
the contractor to expedite the coinage as much as possible, an opinion in
which, when we took the liberty of submitting it on a former occasion (in the 4th
para of our letter to your address of the 2nd September 1814) we
understood the Right Honble the Governor in Council as doing us the honor of
concurring, we cannot look upon it as a matter of regret that no such
engagement was entered into at the time the contract was framed.
Resolved that article 28 of the proposed
regulation for the guidance of the mint and assay masters and contractor in
conducting the duties of their respective departments be omitted, and the same
passed accordingly.
Ordered that copies of the regulation in
question be communicated to the departments concerned.
Bombay Mint Proceedings.
IOR P/411/37 (1816). p. 5
Letter from the mint master (R. Steuart)
to Government, dated
Statement of the coinage in the mint for
1814 and 1815 (numbers rounded by me):
|
Year |
Gold
for the EIC (Rs) |
Gold
for private individuals (Rs) |
Silver
for the EIC (Rs) |
Silver
for Private Individuals (Rs) |
Copper
coinage (Rs) |
|
1814 |
19,050 |
1,931,425 |
10,417 |
10,220 |
|
|
1815 |
280,121 |
669,774 |
165,455 |
10,035 |
9,486 |
Bombay Mint Proceedings.
IOR P/411/37 (1816). p. 17
Letter from the sub-treasurer to
Government, dated
The balance of copper pice within the
General Treasury being reduced very low, I beg to recommend a new coinage being
ordered to the extent of twenty five thousand rupees.
Ordered that the mint master be directed
to coin copper pice to the extent of twenty five thousand rupees and to deliver
the same to the Sub Treasurer.
Ordered that the Warehousekeeper be
instructed to furnish Dr Stewart with such a quantity of copper as may be
required for this purpose.
Bombay Mint Proceedings.
IOR P/411/37 (1816). p. 31
Letter from collector at Kaira (Mr
Rowles) to Government, dated
I request you to represent to the Right
Honble the Governor in Council that the copper currency within the Kaira
Collectorship is extremely bad and that the lower orders of society, whose
labor is compensated by a daily payment in pice, are considerable sufferers
from this circumstance.
In addition to the badness of the pice,
a further inconvenience is experienced arising from the different degrees of
value set upon them, and not only in different towns and vilages are pice of
different weights and value in circulation, but even in the same place.
The class of society that benefits from
this want of uniformity in the copper circulation are the many changers who
speculate with the commodity, as a merchant with any article of traffic, and
thus obtain an advantage in addition to what they are justly paid on exchanging
copper for silver or vice versa.
The copper currency in the districts
subordinate to the Guicawar, the Peshwa, the Nawab of Cambay and in fact
throughout the province generally, with the exception of this jurisdiction, is
brought under control, either by the establishment of manufacturies or by
saqnctioning such pice only to pass in circulation as are of a certain weight,
which is ascertained at an office fixed for that purpose and the approval is
notified by a stamp.
The pice in circulation in this
jurisdiction are chiefly manufactured at Bhownugur by a class of people called
Purjea Soonees, and are of a very inferior description with regard to the metal
they are composed of, as well as their weight. Consequently they are much
cheaper then any other pice, and the poor person who may receive payment by a
given number of pice, instead of a certain proportion of a rupee is a material
sufferer from the depreciation.
The reason why no measure has hitherto
been adopted to remedy this evil within the Kaira jurisdiction, originates in a
measure proposed by the Hinble the Court of Directors, communicated in their
letter of the 7th September 1808, and replied to by my predecessor
on the 13th April 1809, when it was suggested that 50,000 rupees
worth of pice of British manufacture should be forwarded for the use of these
districts, but the suggestion has not since been adopted.
Under date
The manufactruy was accordingly
established and about four hundred and nineteen maunds of copper were worked
into pice and circulated at the proposed rate of 64 for a rupee.
As the experiment was only extended to
Dollarah and its vicinity, this quantity of pice proved sufficient for the
circulation and I stopped the manufactory, fearful that a more extensive issue
might tend to detract from the value of the pice and thereby not only be
productive of a loss but also baffle that part of the object which was to keep
the exchange at a given number of pice for a rupee of a given value.
The pice above stated to have been
manufactured for Dollerah are now become inadequate to the demand and it would
be expedient to set the manufactory again on foot, provided the objective is
not extended and rendered applicable to the whole of the jurisdiction.
A sense of the benefit that will accrue,
both to Government and to the Public, from the establishment of a regular pice
manufactory, makes me solicitous to submit the subject for the consideration of
the Right Honble the Governor in Council, and to request his sanction to the
introduction of a manufactory at this place for the use of the jurisdiction
generally.
Ordered that a copy of the preceding letter
be refered to the Mint Committee with directions that they will suggest the
most advisable means to be adopted for supplying the Collectorship of Kaira
with copper pice.
Bombay Mint Proceedings.
IOR P/411/37 (1816). p. 44
Letter from the mint committee to
Government, dated
We have the honor to acknowledge the
receipt of your letter dated the 1st instant giving cover to the
copy of one from the collector of Kaira and desiring us to suggest the most
advisable means to be adopted for supplying the collectorship of Kaira with
copper pice.
In reply we request you will have the
goodness to state to the Right Honble the Governor in Council that in our
opinion it is not desirable to sanction private coinages of any description and
that as all our other mints are now abolished, not only the Kaira
Collectorship, but all the districts subordinate to this Presidency should in
future be supplied with copper pice from the Bombay mint.
To ascertain how this might be effected
in the best manner it was necessary that we should inform ourselves oi the
actual value of what Mr Rowles appeared to consider the best description of
Pice in circulation in the Kaira district and we have accordingly been
endeavouring, but in vain, to trace any account on our records of the expense
or outturn of the four hundred and nineteen (419) maunds of copper stated, in
the eighth paragraph of that gentleman’s letter, to have been coined into pice
at the pice manufactury at Dollera in 1810.
Under these circumstances we beg to recommend
that the collector be directed to send down by an early opportunity specimens
to the number of 64 (64) of each sorts of the different kinds actually current
within his district for examination and in the meantime, judging from the
description Mr Rowles has given of them, we may state that we have little doubt
that a superior coinage may be introduced of a weight sufficient to secure a
regular supply from this mint without incurring loss even in the event of the
price of copper becoming much higher than it is at present.
Ordered that a copy of the above letter
be referred to the Collector of Kaira with directions to forward by the first
opportunity specimens to the number of sixty four of each sort of the different
kinds of pice actually current within his collectorship, and to furnish any
information on the subject which may in his judgement be requisite for the
information of the committee in the preparation of the coinage required for
circulation within his Collectorship.
Letter from the assistant collector at
Kaira to Government, dated
I have the honor in reply to your letter
dated 30th August last, with copy of a letter to your address under
date the 24th of that month from the mint committee, on the subject
of a coinage of pice for this jurisdiction, to transmit specimens to the number
of sixty four of each sort of the different kinds of pice now current within
this collectorship.
I beg leave to refer the Right Honble
the Governor in Council for every information which seems requisite in regard
to these specimens (ten in number) to the annexed memorandum.
In reference to the 3rd
paragraph of the Committee’s letter to your address, I have the honor to submit
a statement exhibiting the result of the manufacture of pice which Mr Rowles,
in the 8th para of his letter of the 9th July last,
reported to have been carried out at Dhollera, under the authority of
Government dated 25th August 1810. The quantity of copper coined did
not exceed 330 maunds, 1 quarter, 1 pennyweight…
At the end there is a description of the
different types of pice:
Bhaunagar, old
Bhaunagar, new
Goga*
Dhundroka*
Dollerah*
Dholka
Kaira
Mondeh
Nerriad
Naupar
Those marked with a * are of the Dollerah
coinage of 1811 & 1812
There is then a staement of the cost of
manufacture of the pice
330 maunds 11¼ [gr] copper coinede into
pice at 64 per rupee, yielding 725,990. Value rupees 11,343 . 2 . 37
Letter from the Revenue & Judicial
Accountant to Government, dated
Encloses a statement showing the amount
of revenue derived from the mint of
o From Jan
Lingen C.U. Aitchison: A collection of Treaties, Engagements and Sanads
relating to India and Neighbouring Countries, vol 8. p.385-387:
Treaty with the Nawab of Surat
“Articles of Agreement between the Hounourable East India Company and their
successors and the Nawab Nuseer-ood-Deen Khan, etc. etc., and his heirs and
successors, for the better administration of the Government of the City of
Surat and its dependencies, concluded on the 13th May 1800, or the 19th of
Zilhuj 1214 of the Hegira.”
“Whereas the Hounarable the English East India Company have been subjected to a
heavy expenses for the protection of the city of Surat, and whereas the
existing system of internal government in the said city has been found
inadequate to the protection of the persons and property of the inhabitants;
and whereas the Right Honourable the Earl of Mornington, Governor-General of
the British possessions in India, and the Nawab Naserooddeen, etc., are
mutually desirous of providing more effectually for the external defense of the
city of Surat, and for the security, ease, and happiness of the inhabitants,
the following Articles of Agreement are concluded on behalf of the Honourable
English Company and their successors, by the Honourable Jonathan Duncan,
Governor of Bombay, vested with full powers for that purpose by the said
Governor-General on the one part, and by the Nawab Nuseerooddeen, and his heirs
and successors on the other part: - …….
Article 2
The Nawab Naseerooddeen agrees that the management and collection of revenues
of the city of Surat, and of the territories, places, and other dependencies
thereof, the administration of civil and criminal justice, and generally the
whole civil and military government of the said city and its dependencies,
shall be vested for ever entirely and exclusively in the Honourable English
Company.
Article 3
It is agreed that the Nawab shall be treated on all occasions with the same
respect and distinction as his predecessors.
Article 4
The English Company agree to pay to the Nawab Naseerooddeen and his heirs, out
of the revenues of Surat and his dependencies, in four equal quarterly
payments, one lakh of Rupees annually, which shall be considered to be the
first charge payable from the said revenues. The Company also engage to pay to
the said Nawab and his heirs, in addition to the above mentioned lakh of
Rupees, a proportion of one-fifth of the annual revenues now arising, or which
may hereafter arise, from the said city and its dependencies, after deducting
the said lakh of Rupees, the sum payable to the Mahrattas, and the charges of
collection. The residue of the revenues, after the forgoing reductions, shall
be at the disposal of the of the said Company.
Article 5
In order that the Nawab may may at all times have full satisfaction in respect
to the revenues of Surat and its dependencies, he, the said Nawab, shall be at
liberty to inspect all the accounts thereof from time to time, or to station a
vakeel or accountant, at his own expense, in all or in any of the offices of
collection, for the purpose of taking and transmitting to His Excellency copies
of all or any of the accounts of the said revenue.”
I presume, in the light of the agreement between the BEIC and the Nawab, that
it needs no further arguments that the Nawab wouldn't has establish a mint of
his own after the administration of the city was taken over by the Company. The
Nawab and his heirs, were well compensated for the loss of revenue.
Jan Lingen
Shailen Bhandare Paul Stevens In a treaty dated 24 March 1818 /
20 April 1818 the former treaty his confirmed with the following change: “and I
(Nawab) have now the pleasure to intimate that in lieu of the said fifth share,
the sum of Rupees fifty thousand in money has been definitively agreed upon to
be at all times paid out of the Honourable Company’s treasury to me, my family
and representatives, without any examination on account of batta defalcations,
or the trouble of examining books, whilst all the former engaments between me
and the Honourable Company are confirmed and ratified on their former footing
by this measure.”
Letter from the mint committee to
Government, dated
We have the honor to acknowledgethe
receipts of Mr secretary Neunhams letter dated the 31st December
last transmitting for our consideration and report copies of one from the
assistant in charge of the Collectorship of Kaira, dated the 14th of
the same month and of its enclosures, together with the specimens of copper
pice now current within that Collectorship.
In reply we beg leave to state that
though we do not concur to the full extent of the opinion expressed by Captain
Robertson in the 4th paragraph of his letter as to the absolute
necessity of a reform in the silver coinage being made to precede any attempt
to regulate that of the copper, we have no hesitation in admitting that such
ought properly to be the course, but as we look upon the thorough reform of the
silver currency with the present defective state of our mint, as altogether
impracticable, we must be contented for the present to do all the good we can,
since we are not permitted to do all the good we wish.
We do not think the differences in the
intrinsic value of the various silver currencies in the Kaira Collectorship
sufficiently great (the range not exceeding 6 per cent according to the assay
reports to which Captain Robertson refers) to present an insurmountable
obstacle to the introduction into that district of an uniform copper currency
that shall pass at the rate of 64 pice for a rupee of any one of the
denominations specified in these reports.
Copper coins in all countries bear a
nominal value very different from their intrinsic, and it is already within the
knowledge of Your Honble Board, from the report of the Treasury Committee of 13th
March 1813, that at the Presidency, copper pice weighing only 166 grains troy,
have equal currency with others weighing 200 grains, without any perceptible
preference of one above the other.
Viewing therefore the present as the
most favourable opportunity that has yet occurred for commencing the
introduction of an uniform copper currency into the districts subordinate to
this Presidency, as proposed some years ago by the Honble Court, we have held
it to be our duty to consider the subject with more than usual care before we
ventured to recommend any final measures to the adoption of Your Honble Board.
Under these impressions and with a view
of giving our opinion in the most deliberate manner on the best weight,
division and inscription for this new copper coinage, which is eventually to
become the only copper currency under this Presidency, we have carefully
reviewed and reconsidered all the documents on our records that seemed likely
to through any light on the subject. We have consulted also with the Mint
Contractor, as well to ascertain the terms on which he might be willing to
undertake the new coinage (which if the division is to exceed the present of 50
pice to the rupee, will be proportionately more expensive) as the ability of
his native engravers to execute any new inscription.
The conclusion we have drawn from this
view is that the division of 64 pices to a rupee , though not free from
objections, is certainly upon the whole the best, but we still adhere to the
opinion offered in the 4th paragraph of our letter of the 15th
of July 1813 in regard to the weight, which we think should be fixed at 122 ½
grain troy each pice, 40 of the new pice will then weigh a Bombay seer, 1600 a
Bombay maund or 28 lbs avoirdupois, exactly, and at 64 to a rupee 7840 troy
grains of copper, instead of 8175 as heretofore, will represent a rupee.
Below this we do not think it would be
safe under present circumatances, to reduce their weight and as the heavy pice
of the European coinages of copper for the use of this Presidency, have now
almost disappeared from circulation, and the contractor is willing to undertake
the new coinage at the moderate advance of (Rupee “ – 3 – 50) three quarters of
a rupee and fifty reas per maund on his present charges (at which rates and the
current prices of copper, the gain to the mint will still be 8 per cent) we
accordingly take the liberty of recommending that the new copper coinage for
Kaira, as well as for all future coinages of copper either for the Presidency
or subordinates, should be executed on the principles laid down in the preceding
paragraph.
With regard to the inscription which we
have also attentively considered though we fully appreciate the value of the
opinion given by the assistant in charge of the Kaira Collectorship, in the 8th
paragraph of his letter that it should be in English and Guzeratee, yet, as the
Honble Court have in the 11th paragraph of their orders of the 18th
of December 1812, distinctly preferred on general grounds, the Persian to all
other native languages, we do not feel at liberty to recommend any deviation in
that particular, from their instructions.
The English and Persian should therefore
be the only languages employed, but as there seems not prospect under existing
circumstances, of the Courts object of rendering the pice coined here
universally current at the same value throughout the whole of their
possessions, being fully accomplished, and as the native engraver is not qualified
to execute in any good style the inscription suggested by the Court, we are
inclined to think the more simple mark,as it is commonly called, of the Company
on one side and the seals on the reverse as at present, with the addition of
the date and denomination in English and Persian would be better adapted to our
means and circumstances.
Captain Robertson having offered no
suggestions himself on the amount of new pice that might in the first instance
be required, we conclude that he coincides with the opinion of Mr Diggle, late
Collector Kaira, as expressed in the 25th paragraph of his letter of
the 12th April 1809, wherein he appears to adopt the estimate made
by the agent of Turwaddy, that half a lack of rupees worth, or thereabouts,
would suffice, and we accordingly beg to recommend that a coinage to that
extent should be ordered, and as it would be desirable to have the pice ready
to send up before the the ensuing monsoons, it ought to be commenced upon
immediately.
With regard to the mode of its
introduction into the Kaira district, the opinion both of Mr Diggle and Captain
Robertson appears also to agree, that a previous public notification of the
intentions of Government, is all that is required to ensure its ready reception
by all classes of the community. In this we are disposed to concur, but think
that the issue of the new coin, and suppression of the old should not be
simultaneous but that a certain period should be fixed on after the issue of
the former beyond which the latter should be no longer current. The length of
this period can be best determined on the spot.
Having in the course of this report felt
it to be our duty to recommend measures to the adoption of your Honble Board,
in apparent contradiction, both to the letters and spirit of the Honble Courts
commands on the subject of the new copper currency for this Presidency as conveyed
in paragraphs 3 & 12 of their orders of the 18th December 1812,
we cannot conclude without submitting a few remarks on the principal points of
difference from which we trust it will be manifested that the opinions we have
presumed to offer have arisen from the circumstances of our situation and not
from any desire to impugn the sentiments or reasonings of the Honble Court.
Having coincided in opinion as far as
regards the best division for the new pice, and assigned reasons, the force and
justness at least of which, if they should not be deemed sufficient, can be
very easily appreciated for proposing a more simple inscription than that
suggested by the Court, we may perhaps with propriety confess ourselves
entirely in what we have to offer to the greater amount of copper (7840) troy
grains, instead of 6504 or about 20 per cent more, which we require to be
issued in exchange for a rupee, than has been ascertained to be necessary in
Bengal, and which on a former similar occasion appears, by the 8th
para of their letter above quoted, to have excited considerable suprize in the
minds of the Honble Court.
That so much greater an amount should be
required here, does certainly at first sight seem not a little extraordinary
but the difficulty of comprehending it ceases when our very different modes of
coining, to which the Honble Court did not probably at the time advert, are
taken into consideration.
It is the machinery employed in the mint
that enables the Government of Bengal to disregard the weight of their pice,
secure in the superiority of their workmanship from all danger of counterfeits
it is absolutely of no consequence what the intrinsic value of their pice may
be. Copper coins in this respect resemble very much the notes or tokens of a
bank, which have often little or no intrinsic value in themselves, and owe
their currency entirely to their convertablity into whatever may be the legal
currency of the realm.
At this Presidency the case is
different. Besides that our charges which are by the weight are proportionally
increased by the subdivision of the weight, the coining implements we use, a
hammer and chissel are in every man’s hands, and we are therefore obliged to
pay considerable attention to the intrinsic value of our copper coin, and if it
should be demanded why under these circumstances we do not apply to Bengal for
aid, we reply that the distance is too great, that it is much more conducted on
the spot and that if we are debarred that priveledge we could much more
certainly depend on supplies from Europe than from any other quarter.
We are also of opinion that every great
mart where the contributions of the public, in some measure voluntary, are
equal to the support of an efficient mint, has the right to the benefit and
convenience of one and after the statement made in the 11th
paragraph of the Mint Committees report of the 15th of July 1813,
which shewed these to average in Bombay alone, sixty four thousand rupees (Rs
64,000) per annum, we cannot think that any doubt can remain of the ability of
this Presidency to support a mint on the most efficient footing.
The first cost of erection seems then to
be the only obstacle to the accomplishment of so very desirable an object, and we
cannot resist therefore the present opportunity of remarking that very nearly
the whole expense might be defrayed by the mere introduction by its [means] of
the Bengal weight of copper coin into
the districts subordinate to this Presidency.
Estimating the amount that would in the
first instance be required at each of the four stations of the Presidency,
Surat, Broach and Kaira, at the moderate allowance of half a Lack of rupees
worth, the total amount of copper pice immediately necessary would be two Lacks
of rupees worth. These the mint (the establishment of which would under the new
system be a fixed monthly charge) might easily be employed, during intervals of
leisure in coining, without adding at all to its expense and being issued at
double their intrinsic value, which is about the proportion in the Bengal pice,
would only cost one Lack, and thus a measure pointed out by the Honble Court as
a most beneficial one, might be carried into effect, not only without any
additional expense, but with a positive gain to the mint of at least a Lack of
rupees.
On the incalculable benefits that would
result from the introduction of a well executed and uniform silver currency
also, into the districts under this Presidency, not only in a financial point
of view, but in the way of simplifying and facilitating all commercial
transactions in preserving the integrity of the coinage, and in protecting all
classes of the community from the losses and vexations to which they are
constantly exposed, from the intervention and exactions of the money changers,
we need not now [exist]. These are consequences which we are persuaded are well
impressed on the minds of your Honble Board, but we may perhaps observe with
truth and effect, that all these benefits [are] under present circumstances
unattainable, might with an efficient mint be conferred on the public, in like
manner with the uniform copper currency, at comparatively trifling expense to
the Honble Company.
We may add that we are unwilling to be
left behind our neighbours in the race of improvement. Bengal and Madras have
long had machinery in their mints, but we have even had the opportunity lately
of seeing coins struck in Persia by an apparatus erected there by Mr Armstrong,
in a style of execution that would not disgrace any mint in Europe. This is a
theme on which it would be very easy to enlarge but we believe and hope that we
have said enough and, trusting that the importance of the subject on which we
have been treating will plead our excuse for the length to which this report
has extended.
Resolution
The Honble the Court of Directors not
having authorized the construction of a new mint at Bombay on the plan
submitted to them in the 166 & 173 paragraphs of the letter from this
Government dated the 14th October 1813, and the want of a machinery
for conducting the coinage in an improved form precluding us from authorizing
the coinage of the copper currency required for the district of Kaira and from
adopting generally the suggestions of the Mint Committee, resolved that the expediency
of copper pice to the extent of fifty thousand rupees being coined at Calcutta
and consigned to Bombay by the first opportunity that may offer, be submitted
to the consideration of the Supreme Government.
Bombay Mint Proceedings.
IOR P/411/37 (1817). p. 26
Letter from N Hale (Malabar Resident) to
Government, dated
In acknowledging receipt of Mr Neunhams
dispatch of the 15th instant calling on me for a report of the several
coins current in this district with their rates of exchange, names, quality and
current value, I lose no time in forwarding you a statement of the same as I am
aware that the evil complained of by my predecessor cannot be too early
rectified.
You will observe in the above mentioned
statement that the Pirkanee rupee is almost the only coin received into the
treasury on account of revenue, the small amount in other kinds being in
chicoddy, Chaudwaddy and Mallarshay.
The rate of exchange, as has been before
mentioned, fluctuates greatly, and it is impossible to say exactly by whom it
is regulated, chiefly however by the 3 or 4 petty shroffs that this place
affords and who may be influenced by numerous motives unconnected with the real
value of the coin in stating their rates.
I consider this unsettled state of the
currency a serious evil in the collection of our revenues, for the villagers in
making their payments will naturally make a previous enquiry whether the
exchange be favourable to them, and as it is continually rising, I have no
doubt but they in many instances withhold their money in the hope of its
falling again. It is necessary to add that all collections are made on the
standard of the
With respect to the copper coinage, it
is equally troublesome in consequence of the quantities of bad light pice
imported from Bankoote and other places. If the Bombay copper coin could be
solely established, which I confess appears extremely difficult to accomplish,
it would be productive of infinite convenience and save the Magistrate a
multitude of daily complaints and references from the bazar, the different
value the country pice bears being so great that it is necessary to take them by
weight.
I shall forward by the earliest
opportunity by sea a sample of the different coins of this country agreeably to
the orders of Government.
Letter from
I am directed by the Right Honble the
Governor General in Council to acknowledge the receipt of your letter of the 4th
ultimo with its enclosures.
The Governor General in Council remarks
that the observations of the Mint Committee of Bombay in respect to the weight
to be fixed to the copper coinage in question are founded on the supposition
that it was to be prepared at Bombay and that they intimate their opinion that
in the event of its being struck in the more perfect manner practiced at this
Presidency the weight might be reduced to the scale of the Bengal mint and the
coin still made current at the rate of 64 to the rupee. The inscription
suggested by them appears to be recommended under the same impression and
although it would appear from the remarks of the Committee that in their
opinion the present coinage if struck in Bengal ought to be prepared in
conformity with the directions contained in the letter of the Honble Court of
Directors under date the 18th December 1812, yet, your dispatch
containing no communication of the sentiments of the Right Honble the Governor
in Council on this or the preceding point, His Lordship in Council is of course
precluded from issuing any immediate instructions to the officers of the mint
at this Presidency for the preparation of the coinage in question.
The Governor General in Council desires
me at the same time to remark that independent of the above circumstances which
thus renders it necessary to postpone a compliance with the wishes of the Bombay
Government, some inconvenience would result from the proposed coinage being
undertaken at the mint of this Presidency at the present moment when the
officers of that establishment are engaged with a considerable coinage in
silver.
It appears at the same time that the
amount now required would only very partially supply the wants of the
Presidency of Bombay, being equal only to meet the requisition made by the
Collector of Kaira and adverting to the observations contained in the 17th
and 2nd following paragraphs of the letter of the Mint Committee of
that Presidency under date the 15th of February last, to the severe
inconveniencies which appear to have been experienced from the imperfection of
the copper coin current within the provinces subordinate to that Government and
to the still greater importance of a reform in the silver currency, the Right
Honble the Governor General in Council cannot help regretting that the Right
Honble the Governor in Council should have felt himself constrained to postpone
for so long a period the adoption of a measure which appeared calculated to be
of so much public benefit as the establishment of an efficient mint at Bombay
and which instead of being a source of expense appears likely in every view to
produce ultimately a considerable increase of revenue.
His Lordship in Council had indeed hoped
from the tenor of the dispatch addressed by the Right Honble the Governor in
Council to the Honble the Court of Directors under date the 14th
October 1813, that the measure was already in progress, and is satisfied that
if that dispatch has yet come under the consideration of the Court, they cannot
fail to have been sensible of the force of those considerations which induced
the Governor in Council to resolve on its immediate adoption, although under
the impression that it had been actually adopted they might naturally delay to
communicate their sanctions of the procedure.
Under this impression His Lordship in
Council does not hesitate to recommend that the resolutions there announced to
the Honble Court be now acted upon as early as circumstances will permit unless
the Honble Court shall subsequently to the receipt of the dispatch above
referred to, have expressed their pleasure that the designed establishment of a
mint at Bombay be suspended or laid or laid aside, or unless the Right Honble
the Governor in Council shall have seen reason to doubt the reality of the
advantages which in that dispatch were anticipated from the establishment in
question and which his Lordship in Council feels a strong persuasion would
result from it.
Should the Right Honble the Governor in
Council deem it expedient to follow this course it may become unnecessary to
pursue further the suggested measure of supplying a copper currency from
Resolution
In reference to the 4th and
following paragraphs of the above letter, ordered that the Supreme Government
be informed that so far from having any reason to doubt the reality of the
advantages which in our dispatch to the Honble Court of the 14th
October 1813, we anticipate from the establishment of a mint on an efficient
footing at this Presidency, the consideration which this important subject has
since received has tended to confirm more fully the expectations then entertained,
& caused us to regret in an equal degree the circumstances under which we
have left ourselves precluded from proceeding in the immediate erection of a
mint as then announced to the Honble Court.
Subsequent to our dispatch to the Honble
Court of that date we were honored with the receipt of their letter dated
In the 159th paragraph the
Court state that “we approve of your determination in declining to incur any
expense respecting mint apparatus or buildings till furnished with our
deliberate opinion on the subject, as we are satisfied the necessary apparatus
could be supplied in a cheaper and better manner in London than in India. The
inadequate state of your mint both in regard to its buildings and apparatus is
not unknown to us and we only regret that we have not yet been able to
determine upon sending you complete machinery for your mint from this country.
The expense has certainly been one obstacle to the measure but other
circumstances also have retarded the full consideration the importance of this
subject demands, but as the discussions in which we have been engaged
respecting the removal of the Company’s charter are now terminated, an
opportunity will soon occur for taking the state of your mint into our serious
consideration with the view of supplying from England whatever may be wanting
to render the manufacture of the coin as perfect as possible, and the checks
upon the coinage as efficient as European superintendence and machinery can
make them.”
In consequence of these instructions and
the repeated orders which we have received from the Honble Court to refrain
from the erection of repairs of Public Buildings without their previous
sanction, except in cases where the necessity of them is too apparent to admit
of a delay, we were reluctantly compelled to recall the orders we had before
given for the erection of a mint & to wait for the receipt of the promised
instructions from the Honble Court. These instructions have not yet reached us,
but his Lordship in Council will observe from our subsequent correspondence
with the Honble Court as noticed in the margin already before the Supreme
Government & from our late dispatch of the 27th March last (a
copy of which is now prepared for transmission to Bengal) how anxious we have
continued to be for the receipt of them.
The Honble Court in their letter of the
9th March 1815 acknowledged the receipt of our dispatch of the 14th
October 1813 & stated that the paras relating to the new mint will be
replied to hereafter and in acknowledgement of our subsequent dispatches of the
22nd June and 3rd August 1814 we have been informed that
the subject was under consideration.
Having thus explained the circumstances
which have delayed the erection of a mint, His Lordship in Council is to be
informed that we shall be prepared to act on the recommendations offered in the
6th paragraph of Mr Mackenzies letter for giving effect to our
resolution of the 14th October 1813, as soon as we may receive His
Lordships further instructions to that effect, a measure which cannot fail of
being attended with the most extensive benefits to the Honble Company as more
particularly alluded to in out last dispatch to the Honble Court of the 27th
March last.
Our application to the Bengal Government
for the supply of a copper currency for the Kaira district was founded not only
on our wish to obtain a better description of coin than could be produced from
the inefficient means at present under our controul (sic), but on a
consideration also of the Honble Court’s instructions of the 18th
December 1812, in which they state, “we shall accordingly transmit to Bengal
our opinion upon this point with a direction that every endeavour may be used
to furnish you with a sufficiency of copper coin for the currency of Bombay and
its subordinates and if contrary to our expectations the Calcutta mint should
not be equal to the supply of Bombay with copper money, we shall in such case
adopt the most expeditious mode of supplying the deficiency from this country”.
As inconvenience however, would result
from the proposed coinage being undertaken at the mint at Calcutta at the
present moment, and it is desirable that the supply of copper coin should be
forwarded to Kaira on the first opening of the fair season, we shall proceeded
without delay to provide it at our own mint in as perfect a manner as that
establishment is capable of producing it, the supply required not being of that
extent to render the obtainment of an improved currency from Calcutta of any
moment if attended with much delay.
Bombay Mint Proceedings.
IOR P/411/37 (1817). p. 81
Letter from
I am directed by the Honble the Vice
President in Council to acknowledge the receipt of your letter of the 16th
ultimo with its enclosures.
The sentiments entertained by this
Government of placing the mint of Bombay on a proper footing entirely
correspond with those conveyed in the dispatch from this department under date
the 20th April last, but under the present circumstances of this
Government, the Right Honble the Governor in Council will recognise the force
of the considerations under which the Honble the Vice President in Council
feels himself constrained to leave the practical question, which forms the
subject of your dispatch, to the decision of the Government of Bombay.
Minute
Ordered that the subject of placing the
mint of
Bombay Mint Proceedings.
IOR P/411/37 (1817). p. 119
Letter from the mint committee (Best,
sub treasurer, Wedderburn, accountant general, Steurt, mint master, Noton,
assay master) to Government, dated
We have the honor to acknowledge the
receipt of Mr secretary Neunham’s letter dated the 23rd ultimo,
transmitting to us the copy of one from the Resident in Malwan, of the 5th
of the same month, for such farther observations as we might have to offer, on
the subject of bringing to account the fluctuation in the exchange of the coins
current in Malwan, on the principles adverted to in the 5th and 6th
paragraphs of our former letter of the 8th August last.
In reply we request you will have the
goodness to state to the Right Hnble the Governer in Council, that as our
recommendation of the mode in which the Bombay pice should be received and
issued was grounded on the supposition that they were made of copper, and that
deficiency in weight and inferiority in manufacture were the only evils to be
guarded against, the principle will of course no longer apply now that it
appears from the 2nd and 7th paragraphs of Mr Hales last
report that they are composed of some inferior metal.
What the metal is, Mr Hale does not
state, which renders it the more to be regretted that none of these country
pice accompanied the other coins forwarded by the Resident as specimens of the
coinage in March last. We think it probable that there is an admixture of lead
with the copper, in which case it is impossible to lay down any rules for the
receipt and issue of such coins, since every alteration of the proportions of
the two metals will in a certain degree affect their values.
Under these circumstances we have no
hesitation in recommending the
The Accountant General has therefore in
consequence of the [Emaad] being under orders to sail so immediately, taken the
liberty, in concert with the sub-treasurer, to substitute copper pice, of which
there is an abundant supply in the General Treasury, for silver rupees to that
extent in the consignment of thirty thousand rupees lately ordered for Malwan,
and which was to go down in that vessel, which it is hoped will not meet with
the approbation of the Right Honble the Governor in Council.
The mode of its issue must be left in a
great measure to the discretion of the Resident, but we think generally that it
should be issued as far as practical that is, whenever the parties are willing
to receive it, in satisfaction of demands as well as in exchange for gold and
silver coins, at the rate of 50 pice for a Bombay rupee and in particular that
an early period should be fixed, beyond which no other pice should be received
at or issued from public treasuries.
With regard to the inferior coins both
silver and copper said by Mr Hale in the 3rd paragraph of his last
letter to “have been lying for a length of time in the treasury with the exchange
annually rising against them”, we are not aware of any objection in the present
instance to the mode of disposing of them proposed by the Resident, though we
must still confess ourselves a little in the dark as to the manner in which
this effect is produced since, if the coins of the same denomination are
becoming annually more debased, the exchange ought rather to be in favour than
against the older and the better coins.
Mr Hale should however at the same time
be enjoined to be as much as possible on his guard against the introduction of
any inferior currency into the treasury in future, for as it never can be
obligatory on any Government to receive coins not issued by itself, so, when it
does consent as a matter of accommodation to receive them, it can never with
any justice be expected that it should do so at a rate exceeding their
intrinsic value.
This indeed it may be very difficult
from time to time to ascertain while such practices exist on the part of the
neighbouring Government as those adverted to in the 9th & 10TH
paragraphs of Mr Hale’s report and against which it is no easy matter to guard.
The most obvious and efficacious remedy no doubt is the introduction of our own
currency into the district and if it shall appear on a comparison of the coins
Mr Hale is now preparing to send up with those formerly examined by the Assay
Master that there is any foundation for the assertions of the merchants and
shroffs regarding the gradual debasement of the silver currency in Malwan, it
is the remedy that must be resorted to.
In the meantime we would beg to
recommend, as a preliminary step, that so soon as Mr Hale has succeeded in
clearing his treasury of the inferior currency now in it by disposing of it at
the exchange of the day, that the rate of exchange for the silver coins in
Malwan be fixed until further orders, agreeably to the assay report of their
intrinsic values, submitted by Mr Noton to Government under date the 26th
April last, with a copy of which Mr Hale was probably furnished.
Resolution
Ordered that copy of the preceding
letter be transmitted to the Resident at Malwan for his information
The Board approve of the consignment of
the copper pice made to him by the Emaad for the purpose of its being
introduced into general circulation in lieu of the country pice, & in
drawing Mr Hale’s attention to the suggestions offered by the Committee. He is
to be informed that the first of January next is to be fixed as the day beyond
which no other pice is to be received at or issued from his treasury.
Mr Hale is to be authorized to dispose
of the inferior coins now in his treasury at the current exchange of the day
& when the whole shall have been disposed of the rates of exchange for the
silver coins are to be regulated according to the assay report transmitted to
him on the 2nd May last.
Lieutenant
Moor (1794), Narrative of Little’s Detachment, App. Note ii, pp. 499, 500.
From: Thurston E., (1890), History of the coinage of the territories of the East
India Company in the Indian Peninsula. Government Press,
Letter from
I am directed by the Right Honble the
Governor in Council to transmit to you copy of a letter from the Collector of
the Eastern Zillah north of the Myhee, regarding the copper currency of that
division and copies of a further letter from the Judge and Magistrate at Surat
repeating the application for a supply of copper currency for that city.
The Ann having arrived from England
since my letter to you of the 21st ultimo and not having brought out
any instructions from the Honble Court regarding the mint, some measures must
be immediately adopted for supplying the copper currency so much required in
the various districts subordinate to this Government.
The great extent of the demand affords
an eligible opportunity for introducing an improved coinage and the Governor in
Council is disposed therefore immediately [to] adopt the division recommended
in the 7th para of your letter of the 15th February 1817
on being informed of the present ability of the mint establishment to comply
with the demand.
You are therefore requested to consider
the subject and report what means can be adopted for providing an improved
copper currency with the greatest promptness and whether the machinery alluded
to in the 3rd para of your letter of the 3rd instant can
be procured in
You will be pleased to state the extent
of pice which might be ready for circulation by the end of October next and the
quantity which might be delivered in each succeeding month.
Letter from
I am directed by the Honble the Vice
President in Council to transmit to you for the purpose of being submitted to
the Right Honble the Governor in Council, the accompanying extract (Paras 106
to 115) from a letter from the Mint Committee at this Presidency, bearing date
the 29th March last, together with an extract (Paras 4 to 12) of a
letter addressed to them in reply.
The measure of equalising the standard
of the currency throughout British India, appears calculated to promote
essentially a public convenience.
The great superiority in value of the
Calcutta Sicca Rupees, [to those] of Fort St George and Bombay appears to
oppose the most serious obstacles to the adoption of any arrangement such as
that which has been prepared by the Honble the Court of Directors for
equalising the value of the currencies.
Adverting however to the trifling
difference in the intrinsic value of the coins of
The Vice President in Council begs leave
therefore to suggest to the consideration of the Right Honble the Governor in
Council at Bombay, the expediency of increasing the weight both of the rupee
and gold mohur of Bombay to 180 grains, and of adopting the standard prescribed
by the Honble Court and already adopted at Fort St George, Viz: 185 grains fine
metal and 15 grains alloy.
The small increase in intrinsic value
[which] will result from this operation would not appear likely to attend with
any practical inconvenience, but the Right Honble the Governor in Council will
be himself the best judge of the propriety of the measure, and will of course
view this communication only as suggesting it for his consideration.
Letter from
The pressing nature of the duties of
several members of our Committee in other departments has hitherto prevented us
from acknowledging the receipt of Mr Secretary Newnham’s letters of 30th
July and 17th ultimo, the former referring for our consideration the
tender of Narsimdass Purshtundass and the letter that of Narrondass Tulsidass
delivered in consequence of the Government advertisement of the 1st
of July last, for conducting the coinage of the mint.
Have, it must be observed, been
delivered in within the time appointed, though Narsindass’ is dated the 22nd
July, the last day named for receiving them, nor have they been drawn up in
strict conformity with the conditions of the contract, as submitted to
Government of the 25th June last, but as none others have been
received except for the coinage of copper alone, which has been rejected, and
as we understand from the parties they are prepared to bind themselves to
fulfil all the conditions in question, we may proceed to consider the tenders
in other points of view.
With regard to the terms, there is the
same difference between the tenders as there was between the tenders of the
same persons (viewing Pestonjee Bhicajees’ tender as also Narsondass’ three
years and a half ago, when tenders were last invited), and if the lowness of
these is to be the only point of consideration, the tender of Narsidass must of
course be accepted, but as efficiency is in our opinion, of far greater
importance then any trifling difference in rate, we think now as we thought
then that the former contractor should be again employed.
The avowed fact of Narsidass having been
a partner with Pestonjee in the contract (of which we were before ignorant) is
alone a sufficient reason for our disapproving of his being again admitted to
have any concern with the mint. During the whole period that the members of our
Committee have had any acquaintance with the mint we have never known it in a
state of such inefficiency as during the last three years. That the ostensible
contractor, Pestonjee Bhicajee, was altogether unfit for the undertaking has
long been obvious both to the Mint and Assay Masters, and whatever misconduct
therefore has been evinced must be imputed more to his partner, the real
manager, than to himself, beyond that of having undertaken the contract under
any circumstances.
It has not only frequently but
constantly happened that the Honble Company’s bullion has been coined and
remelted from its being under standard, and this at a time when money was much
wanted in the treasury, which was probably the very circumstance that induced
him to risk the experiment. It was quite obvious that it could not be
altogether the result of either accident or ignorance, but as the whole penalty
in the bond, and there could in fact be no other, was that he should in such
cases, be compelled to remelt and recoin those pieces that were under standard
at his own expense, the evil during the continuance of the contract was
absolutely irremediable,
We have yet another reason for
preferring the former contractor to which we attach much importance, much more
than we did when the late contract was concluded three years and a half ago,
though even then it presented itself to our minds, and that is that we think it
extremely impolitic to allow a person who is both himself, and his people about
him, so well versed in our coinage, to seek employment elsewhere. It is very
certain that there has been little business, except the Company’s, transacted
in the mint, during the last three years, and yet until very lately there
seemed to be no deficiency in the circulating medium. The present man has
unfortunately acquired some experience also, but he is by far the less
dangerous person of the two.
Resolution
Resolved under the circumstances stated
by the Committee that the proposal of Narondass Tulsidass for conducting the
coinage of the mint (although on a less advantageous terms in a pecuniary point
of view to Narsidass Purshotunass) be accepted for a period of three years on
the terms of his former contract, determinable on six months previous notice at
any time within that period at the option of either party.
Resolution of Council,
The direct ships of the season having
arrived without bringing us any instructions from the Honble Court regarding
the mint, it becomes imperiously necessary that we should without further delay
adopt some measures for remedying the great inconveniences under which we at
present labour from the want of an efficient mint.
The quantity of copper coin alone
required for circulation in the new extended districts of this government
cannot be estimated at less then five lacs of rupees, and if this were coined
by means of machinery, there would as shewn by the Mint Committee in their
letter of 30th April last be “a gain of nearly two lacs and a half
of Rs on the first issue of the pice which will be much more than sufficient
[to cover?] the expense of any mint that it can be deemed advisable to erect”.
This fact, which cannot be disputed, is
sufficient to authorize Government to proceed in the erection of a mint without
further waiting for the Court’s orders, independent of the great gain to be
derived from an improved silver coinage. The circumstances of this Government
are so much changed, that the reasons which may at one time have operated to
delay the erection of a mint can now have no influence.
Ordered therefore that the Mint
Committee be called upon to report on the reference made to it on the 20th
June in regard to the means now available for preparing an improved copper
currency. The Committee are at the same time to state whether complete
machinery for all purposes of a mint can now be prepared at
The Mint Committee are at the same time
to report the difference which would have accrued to the Honble Company,
supposing the extensive recoinage which has for sometime past and is now
carrying on, including the expected consignment of 15 lacs of dollars, had been
conducted by machinery, under the improvements contemplated, instead of the
rude manner in which the coinage is now formed.
To enable us likewise to judge of the
evils of our present currency which can now so easily be counterfeited by any
common mechanic, the Mint Committee should lay before us a return of the
quantity of incurrent and debased coins of the Bombay and Surat mints found in
the several consignments of treasure from the Coast since we have been
furnished with funds from that quarter.
Ordered also that the Court of Petty
Sessions report the number of cases brought before it since its institution; of
persons charged with counterfeiting or debasing the public currency of this
Presidency.
A similar return to be prepared by the
Register of the Sudder Adaulut of convictions in the subordinate courts.
Letter from the Mint Master (R. Stewart)
to Government dated
I request that you will have the
goodness to inform the Right Honble the Governor in Council that I have for
some time past turned my attention to the practicability of improving the
coinage of this Presidency by means of machinery prepared at this place without
having recourse to the other Presidencies, and that from what I have seen I am
of the opinion that the attempt may be attended with success.
In order, however, for me to determine
this point with precision, I request that the Right Honble the Governor in
Council may be pleased to direct that I may be supplied with such assistance as
may be procurable from the Department of the Gun Carriage Manufactory as may be
necessary, consisting chiefly of the occasional use of the foundry and the
labour of two European artificers belonging to that department.
By these means I trust the Mint
Committee will be enabled to answer your letter of the 20th June in
the course of a few weeks, and to accompany it with a specimen of the coins
proposed.
Resolved
That the military Board be ordered to
instruct the gun carriage department to afford such aid to the Mint Master as
he may require in the trial now in progress connected with the manufacture of
mint machinery.
Letter from the Mint Master to
Government dated
I have the honour to acknowledge receipt
of your letter dated the 25th instant with its accompaniments from
the secretary to the Military Board, and the Agent for Gun Carriages, calling
on me to state for what period I require the services of Matross Mulholland and
sub-conductor Hughes, in the preparation of machinery for the use of the mint,
and whether workmen equally qualified for the same duty cannot be obtained
elsewhere.
In reply I beg leave to state for the
information of the Right Honble the Governor in Council, that the period for
which the services of Matross Mulholland may be required will greatly depend
upon the success or otherwise of the experiment on which he is now engaged, and
which, in reference to my letter to you of the 2nd instant, I
expected would be concluded in a few weeks. This man was sent to me on 24th
instant and I think that I can now state confidently that the point in question
will be finally determined by the first or second week of January next,
provided that no interruption takes place. With regard to sub-conductor Hughes,
there is so little required in his department, that I am [of] opinion that a
day or two in each week or a week in each month, as may be best suited to the
conveniency of the Gun Carriage Department,
is the utmost extent of his services that can be required even on the
supposition that a complete set of mint machinery should ultimately be
determined on by Government. It will hence, I trust, appear that so far as this
man’s services are concerned it can scarcely be termed an interference with the
Gun Carriage Department.
In reply to the concluding part of your
letter, I have only to state that I know of no person capable of performing the
services I require of Matross Mulholland otherwise I should have carefully
avoided any requisition of them while I am at the same time fully satisfied
that others may be found capable of performing all that is required of him in
the construction of gun carriages, of which the work is of the plainest kind,
and I may add coarse in comparison to that which is required in the
construction of coining machinery, on the accurate workmanship of which its
success exclusively depends.
It remains for me to make a few observations
on the nature of the objection stated by Captain Mackintosh, in his letter to
the Military Board, and also in one to myself dated the 26th instant
(copies of which I now enclose) in answer to an application which I made to him
on that day, for the labour of sub-conductor Hughes for three days, and that
Government may fully understand the circumstances which have led to the present
discussion. I shall premise that it is now upwards of a year since I first
directed my attention to the machinery in question, the progress of which has
been delayed from time to time by various causes, but chiefly from the want of
workmen to execute anything to my satisfaction. During this period however,
until lately, I had the occasional assistance of both the mechanics in
question, on Sundays and sometimes on Hindoo holidays when the Gun Carriage
Manufactory was necessarily shut up by the non-attendance of the native
workmen. I had also the assistance of Matross Mulholland by Captain Mackintosh’s
permission for a few days in the latter end of September, or beginning of
October last, when the Gun Carriage Manufactory was removed to Colaba, and
consequently the labour of this man suspended for a time. On the latter
occasion I was so satisfied that the services of Matross Mulholland were so
indispensably necessary to the completion of my plan, that I ventured to speak
to Major General Bailie, and also Captain Mackintosh, of obtaining his
discharge from the military, with the view of employing him under Government
both for making and keeping in repair the machinery with which I was engaged.
So far however was this application from forwarding my purpose, that, from that
time, the men in question were strictly prohibited, by an order of Captain Mackintosh,
from working anywhere but in the department. Thus deprived of the casual
assistance I formerly had from these men, the alternative remained to me of
relinquishing altogether the plan [on] which I had already made considerable
progress, or by an application to Government, to obtain such assistance as I
thought absolutely necessary towards its completion and from the department
where alone it was to be found.
I am ignorant of the nature of Captain
Mackintosh’s objections to permitting these men to work anywhere but at the
manufactory, but I can with great truth assert that during my intercourse with
them I observed nothing but the most orderly conduct, united to a laudable
desire of improving by their labour, the humble condition in which they are placed,
and I shall only add that if Captain Mackintosh’s statement proves anything
they appear also to prove too much, as, on general principles, it seems
difficult to conceive the state of a department of such importance and extent
as the Gun Carriage Manufactory, the efficiency of which should in any
considerable degree depend on the exertions of any individual whatever, but
more especially on the fortuitous circumstance of a private of the battalion of
artillery, having been bred a turner in metals, and who, I believe, has not now
completed one year of service in that department.
It is unnecessary for me to occupy the
time of Government on the necessity which has long existed, for some reform in
the state of the coinage of this Presidency. Their records during the last
three years bear ample testimony both of that and the desire they have evinced
of carrying it into effect. It therefore remains for them to decide whether it
shall now be relinquished or carried into exertion, even at the risk of
occasioning a small degree of inconvenience to another department, which, in
the nature of things, cannot be of long duration.
There then follow the enclosures
mentioned in the letter
Letter from the Mint Master (Stewart) to
Government, dated
I have the honor to report for the
information of the Right Honble the Governor in Council that Matross
Mulholland, whom Government had directed to be employed under me for the purpose
of preparing machinery for the mint, has been unfit for any kind of duty ever
since 28th November last in consequence of a severe attack of
Dysentery from which he is only now recovering.
Government will hence perceive that so
far as this man’s services are concerned, little progress can have been made in
my present undertaking. In other respects the work has been going forward as I
could wish.
Letter from R. Macintosh (Gun Carriage
Dept.) to Captain Bellasis (Secretary to the Military Board), dated
I have the honor to acknowledge receipt
of your letter of the 27th ultimo and in reply request that you will
have the goodness to report to the Military Board that I have within the last
fifteen days obtained from the artillery two men as metal turners, but they are
of such inferior capacity that, their work is not only badly executed, but both
are not capable of performing in two days what Matross Mulholland would
complete in one. I am however at the present under the necessity of employing
these, and a double expense is thus incurred, until Matross Mulholland be
directed to return to his duty in the department
Minutes
Ordered the Military Board be informed that
as no person equally capable with Matross Mulholland to prepare the superior
description of machinery required for the mint can be procured, there is no
alternative than to allow that person to remain in the mint so long as his
services may be required.
Minute by the President dated
Doctor Stewart having signified his
intention of returning to England in the course of a few days, it was my
intention to have proposed to the Board [price?] under the orders of the Honble
Court the office of Mint Master is to be filled by a Civil servant, that Mr
Newnham should succeed to that situation, but understanding on a private
communication I have had with him that he would wish to decline the acceptance
of that employment, I propose that it may be conferred on Mr Henderson.
The members below the chair concurring
in the President’s nomination of Mr Henderson as successor to Doctor Stewart in
the office of Mint Master, resolved that he be appointed accordingly and
directed to receive immediate charge of the department from Doctor Stewart who
is on the point of embarking for
Letter from the mint master (J
Henderson) dated
I have the honor to acquaint you for the
information of the Right Honble the Governor in Council that I have this day
received charge of the mint.
Letter from the mint master (R. Stewart)
dated
Letter enclosing statement of mint
output for 1818
|
Gold (Rs value) |
Silver (Rs value) |
||
|
On Behalf of EIC |
On behalf of private individuals |
On Behalf of EIC |
On behalf of private individuals |
|
734,684 |
72,897 |
188,847 |
156,278 |
All figures rounded to whole numbers
Letter from the Accountant General and
Civil Auditor to Government, dated
I have the honor to acknowledge the
receipt of your letter of the 27th instant, referring for my
examination and report, an account of Mr Stewart’s expenditure for certain mint
machinery, which he was authorised to construct experimentally without my
previous estimate of the expense.
In reply I request you have the goodness
to state to the Right Honble the Governor in Council, that the document
transmitted appears to be an abstract of bills incurred by the late Mint
Master, amounting, in aggregate, to Rupees eleven thousand four hundred and
twenty eight, three quarters, and 74 reas, unaccompanied indeed by any
vouchers, but being correct in additions, and solemnly attested on honor, it
may, I think, on an undertaking of such a nature, be deemed unobjectionable,
and is accordingly retained in this department, to await the orders of
Government.
Minutes 5th June
Resolved under the explanations afforded
by Mr Wedderburn, that the account of Mr Stewart’s expenditure for mint
machinery amounting to rupees 11428..3..74 be passed and discharged by the
proper officer.
Bombay Consultations.
P/411/39 p46
Letter from the Mint Master (Henderson)
to Government, dated
I have the honor to transmit to you for
the purpose of being laid before the Right Honble to Governor in Council, the
accompanying inventory of mint machinery etc to which Mr Stewart’s letter of
the 22nd ultimo refers.
I have the honor also to report that
agreeably to the direction conveyed in your letter of the 27th
ultimo, the establishment for constructing the mint machinery has been reduced
to the numbers of workmen specified by Mr Stewart. The Europeans discharged are
Privates Edward Jones and William Parker, who have been sent to the depot of
the Honble Company’s European regiment
There then follows a detailed list of
all the equipment built by Dr. Stewart. In Summary:
Cutting Presses
Milling Presses
Stamping presses to be contained in
wooden frames, length 5 feet, breadth 7 feet, height 6 feet 6 inches
4 Fixing
beds & 14 screws complete
3 ditto
without screws
4 slides
and brass boxes with bolts
8 iron
screws & 4 brass boxes incomplete
1 ditto
extra
1 pr dies
complete
1 ditto in hand
2 ditto ready to be sunk
4 ditto
ready to be turned
Laminating mills each to work 2 rollers
Various pieces of metal of different
types (iron, steel, brass, lead, zinc)
Also added at the end was a description
of what would be required to complete the machinery.
Minute 5th June
Ordered Mr Henderson be called upon to
report whether the present establishment of his department is capable with
further assistance of completing the machinery still required, as specified in
the inventory. If so, Mr Henderson will state what further aid will be
necessary, and likewise the probable expense of rendering the machine complete.
Minutes, dated
The Commander of the Susan having
reported that he has a quantity of copper on board consigned to this Presidency
for the use of the mint, resolved that the Warehousekeeper be directed to land
the same as soon as the Commander may report himself ready to discharge it, and
to keep it in store until required by the Mint Master.
The Warehousekeeper is to report the
quantity thus received.
Letter from the Warehousekeeper to
Government, dated
As there is not any copper at present in
store, I beg to know whether the Public Departments of Government are to be
supplied by issues from the quantity (about two hundred tons) imported from
If the whole of this consignment should
not be required for the purpose of coining, a portion would probably realize,
in consequence of the existing scarcity, between 66 and 70 Rups per cwt. I do
not however apprehend that even the above would be a saving price. It is known
that the last importations from
Ordered that Mr Goodwin be informed that
as the whole of the copper received by the Susan cannot be wanted for the mint
before a further supply arrives from
Ordered that the Mint Master be advised
of the arrval of this supply of copper and of the disposal of a part.
Letter from the Warehousekeeper (Mr
Goodwin) to Government, dated
I beg to report for the information of
Government that I have not the means of complying with an indent which I have
just received from the Commissary General for thick sheet copper for the use of
the Marine Department. If Government should be pleased to sanction a transfer
from the consignment on account of the mint, to the extent of the exigencies of
the public service, It will, I hope, be in my power to replace it on the
arrival of the [Ernaad]. I do not imagine a purchase could be now effected in
the bazar unless on very unreasonable terms.
Ordered Mr Goodwin be referred to the
reply returned to his letter of the 6th instant.
Letter from the Mint Master (Henderson)
to Government, dated
I have the honor to acknowledge the
receipt of Mr Acting Secretary Simson’s letter, dated 5th instant,
calling on me to report whether the establishment of workmen allowed for
constructing the mint machinery be capable of completing it, with further
assistance; and if so to state what additional aid will be necessary and the
probable expense of rendering the machinery complete.
I would beg leave in the first instance
to refer to Mr Stewart’s letter of the 22nd ultimo, by which it
appears that the establishment reduced to its present scale will in his opinion
be sufficient for the purpose, although the time is not mentioned by which it
may be expected to be finished. Mr Stewart also estimates the further expense
likely to be incurred on account of the machinery at 7 or 8000 rupees.
From the inventory which I did myself
the honor of submitting on the 1st instant, the Right Honorable the
Governor in Council will have perceived that the machinery was intended by Mr
Stewart to consist of:
8 cutting Presses
8 Stamping Presses
4 Milling Presses
4 Laminating Mills
From the inventory it will also be seen
that although many of the different parts of the machinery were in progress, Mr
Stewart was unable to finish more than 4 cutting presses and 1 milling press
previously to his departure. I believe that Mr Stewart at one time entertained
an expectation that the cutting presses could be made to answer also the
purpose of stamping presses, but it was found more powerful machinery would be
required.
Since Mr Stewart’s departure one
stamping press has been nearly completed, of a more solid structure then the
cutting presses, and also one laminating mill.. But as the stamping press is
contained in a wooden frame whereas, according to the description of a
gentleman well acquainted with the Tower mint with whom I have lately had an
opportunity of conversing, they are now made generally if not always of cast
iron, and as the laminating mill is on a new or at least on an unusual
principle, it may probably be expedient before any more of either be
constructed on the same plan to await the result of a trial of the two nearly
finished, and which will be ready in the course of a very short time.
Should the machinery on the principles
followed by Mr Stewart be found to answer and no alteration be required, it
would no doubt be in the power of the present establishment to complete it by
the end of the present year at furthest. Such is the expectation of the
principal workman who seems to be capable of finishing it, with the assistance
of the other people employed. But it will be perceived that it would not be
possible for me to offer an opinion whether any further assistance or expense,
than what has been stated by Mr Stewart, may be necessary, until the result of
a trial of one set of the machinery, when perfectly complete, can be ascertained.
Minute 24th July
For the reasons given in the concluding
part of the 5th Paragraph of the preceding letter, it would appear
unadvisable to complete the second stamping press only before it can be
satisfactorily ascertained how far the presses as now constructed will answer
all the purposes.
Minute 27th July
The President remarks that as the
machinery will be ready in the course of the present year, it will be necessary
to take measures for the preparation of a mint. The Bomb Room suggested by
Doctor Stewart on the examination of a common observer, will not, he conceives,
answer the purpose, having personally inspected it with the chief engineer, and
some other place must be found.
The President also states that he can
see no objection, in a military point of view, to one of the Ravelins being
appropriated to this purpose since one of them has already been assigned to the
forging the machinery, and there is, in the Governors opinion, recollecting
what the mint is in the Tower, sufficient room for every necessary building.
Bombay Consultations. IOR
P/411/39, p84
Letter from James Atkinson to
Government, dated
Having been given to understand that it
is in agitation to establish a mint at this Presidency, upon a new principle,
and being at the same time led to believe that the machinery has been left in
an imperfect state by Dr Stewart on his departure for Europe, I am induced to
offer my services, either to assist in the completion of the undertaking which
has commenced, or to make improvements upon it, after the principle of the mint
in London.
I beg leave, Right Honble Sir, to state
that my pretensions to perform this piece of service rest upon having been
regularly apprenticed under my father, who has the immediate superintendence of
the coining department in His Majesty’s mint in London, and I consequently have
had an opportunity of witnessing, and assisting, in all the operations
necessary in conducting that establishment.
Minute 27th July.
Ordered that Mr Atkinson be called upon
to state the terms in which he would undertake to complete and make improvement
in the mint machinery in the event of the government accepting his offer.
Bombay Consultations. IOR
P/411/39 p86
Extract of a private letter from Captain
Hawkins, dated
I have made some progress at the India
House in furthering the design which you patronised of building the Town Hall
Mint and Main Guard in one line on Bombay Green. You will, long ere this
arrives, have heard of the Court’s grant of ground for the Hall and perhaps
know more about it than I do myself as the India House is not the readiest
place of obtaining correct information. But as to the mint from Mr Tompson
having taken up my plans very warmly, I believe I can speak very fully. The
idea of the Court of Directors seems to be to make the coin of the same stamp
and value all over India beginning with Bombay as being the most in want of [a]
mint. The art of coining has been brought to wonderful perfection in the Royal
Mint, particularly in laminating or fine rolling the metal, which is done by
the power of a steam [engine] applied to improved rollers, which so compress
the metal as to render its specific gravity uniform throughout. The cutting out
stamp has also been carried to great perfection so that from the improvements
on fine rolling and cutting out the coin, any subsequent adjustment is almost
entirely superseded. This improvement has caused a wonderful saving in labour,
time and metal and the quantity of coin turned out of the Royal Mint in one day,
over and above the former plan, is quite incredible. The thing we have most to
combat introducing the improved plan into India is the expense of machinery
which from the plan already submitted to the Court will cost about thirty
thousand pounds, but I have hopes of bringing it down fully one third, which
sum the Court appears inclined to grant. If this can be done our mint at Bombay
will, I have no doubt, be the first in the world.
Minute 2nd August
Under the above information which though
not official may in some degree be relied on as correct, it is thought proper
that Mr Atkinson should be informed that letters received from England by the
Bombay merchant rendering probable that machinery for the mint will shortly be
sent out to this country, the Governor in Council will no longer have occasion
to avail himself of his services in that department.
Minute 2nd August
Resolved the Mint Master be informed
that by the receipt of this intelligence, it becomes necessary that no expense
should be incurred in providing machinery in this country. In regulating
therefore his proceedings under this intimation, Mr Henderson is to be called
upon to state the probable expense at which the machinery begun by Doctor
Stewart, could be so far completed as to be rendered available for the
manufacture of a copper currency, leaving the improvement in the silver and
gold until the arrival of the more perfect machinery expected from England.
Bombay Consultations.
P/411/39 p 134
Letter from the Mint Master (Henderson)
to Government, dated
I have the honor to acknowledge receipt
of Mr Acting Secretary Simson’s letter of the 2nd instant,
intimating that in consequence of mint machinery being expected from England,
it becomes necessary that no expense be incurred in providing machinery in this
country, but directing me to report the probable expense at which the machinery
begun by Doctor Stewart could be so far completed as to be rendered available
for the manufacture of a copper currency.
It will no doubt be satisfactory to the
Right Honble the Governor in Council to be informed that since the departure of
Mr Stewart the disbursements on account of the Machinery have been confined
within the limits of the monthly allowance for establishment directed to be
entertained by your letter of the 27th May 1819.
I expected to have been able to report
sometime ago the completion of one set of the machinery and the result of a
trial of its efficiency; but from the delay arising from the alterations which
have been found necessary, I have been prevented hitherto from submitting any
report on the subject. The trial has also, in consequence of Mr Simson’s letter
now acknowledged, been chiefly confined to its power of coining a copper
currency. The Honble Board may probably be aware that the whole of the
machinery, with the exception of the milling press, will be required to execute
a copper coinage, and in fact as much strength in the parts and as much nicety
and perfection in the workmanship will be necessary for coining the former as
the latter. In the three processes also of rolling cutting and stamping, the
two first must be executed with much precision to obviate the necessity of a
subsequent adjustment, the expense of which a copper coinage could not well bear.
The copper plates which are now coining
in the mint, are of a considerable size and thickness, and even if cut into
small bars, I am doubtful whether all the parts of the mill as it has been
constructed, could for any length of time perform what is called the
breaking-down rolling, without sustaining injury. Indeed I understand Mr
Stewart never contemplated a coinage from copper plates unless a supply of
large rollers were sent out from Europe, that the coinage would be made of
sheet copper. An experiment however of two or three bars of silver, rather
smaller than the size of the Tower mint Moulds, had certainly no visible effect
on the mill, after the final alterations were made, but unless one on a much
larger scale and for a continuance of time were undertaken, it would be
difficult to determine the point.
If however a sufficient quantity of
sheet copper were always procurable, this objection would be obviated, since by
far the greater part of the breaking-down rolling would be superseded, and I
have little doubt that the mill would easily answer the purpose of rolling down
sheet copper.
Supposing a sufficient quantity of sheet
copper to be procurable, the question for consideration would then be, whether
the mill as now completed, could bring it to a size of that exactness, that
none of the blanks when cut out should deviate in weight beyond a very few
grains on either side of the proper standard; and I have little hesitation
offering an opinion from our experiment which has been made on a small quantity
of sheet copper, that with a proper pair of finely turned adjusting rollers,
with due attention of the part of the workmen employed, and to the state of the
cutters in the cutting presses, that deviation would not be more than between 5
& 6 grains in any of the pieces at the utmost, taking the standard at 100
grains.
Indeed the result of the experiment made
with the machinery as it stands, although on a small scale, did not give a
greater difference, and I should think it possible that after the workmen shall
have had a little experience it may not exceed 4 grains. It would however be
probably the province of the Mint Committee to offer an opinion whether such a
deviation or a smaller remedy only ought to be allowed in the coinage.
With respect to the cutting press, it
appears to answer the purpose fully. The stamping press has also to all
appearance been now constructed of a sufficient strength, nor does it appear in
any degree injured from the frequent trials which have been made of its powers.
The Honble Board will be able to judge
from the specimens which I have the honor to hand up, what description of
coinage can be executed by the machinery. These have not been particularly
selected but have been struck one after the other in the press.
The dies have been cut by a private in
His Majesty’s 65th regiment and should they be consider sufficiently
well executed, his services might be permanently engaged by allowing him to
exchange with a private of the Honble Company’s European regiment.
The quantity of machinery which it
appears to me would be wanted to execute a copper coinage within any reasonable
time, will be as follows:
2 Rolling Mills
4 Cutting Presses
6 Stamping Presses
From an estimate of the wood and iron
which will be required and which might be supplied from the warehouse and
Marine Store Departments, on the usual terms, it may be reckoned that the
expense of completing the above machinery, will not exceed 1000 rupees, in
addition to the expense of the establishment employed, and after the sale of some
of the articles now under my charge, which are not required, I think the Honble
Board may rely on that sum being sufficient.
The following are the grounds on which I
think this extent of machinery will be necessary:
From the manner in which the stamping
press has been constructed, I find that about 10 pieces only can be struck by
it in minute. Supposing therefore that 6 stamping presses were completed for
the copper coinage and were constantly at work for 6 hours out of 12, allowing
the rest of the day for all delays, the result would be each day 21,600 pieces,
or for 300 working days in the year 6,480,000.
In the course of the last 10 years a
copper currency has been executed by the mint contractor to the extent of Rs
277,357. The total number of pieces struck in pice, half pice and quarter pice
being 17,179,650, so that it will be perceived that probably a third only of
that sum could be coined in the course of one year, taking the above
calculation of the powers of the 6 presses, and supposing the same divisions of
the pice were to be continued.
2 Rolling mills and 4 cutting presses
would appear to be sufficient to keep the stamping presses fully employed
Minute 10th September
Ordered that Mr Henderson be authorized
to complete the machinery to the extent stated in the 11th paragraph
of the preceding letter, a requisite for conducting a copper coinage, at the
further estimated expense of Rupees one thousand.
Mr Henderson is to be called upon to
state the period in which the machinery may be expected to be completed, and
what arrangements appear to him necessary before it can be set to work in the
preparation of a copper currency
Minute 10th September
Resolved that the Mint Committee be
directed to offer their opinion on the specimens of copper coins, as well as
the point referred to in the 8th paragraph of Mr Henderson’s letter.
There then follows a letter to the Mint
Committee asking for their opinion on the coins and the machinery, and also
their estimate of the amount of sheet copper required.
Bombay Consultations.
P/411/39 p 150
Letter from the Mint Master (Henderson)
to Government, dated 26th September
I have the honor to acknowledge the
receipt of your letter dated the 10th instant authorizing the
completion of the machinery considered to be required for conducting a copper
coinage at the estimated expense of Rupees 1000, and calling on me to state the
period by which it may be expected to be finished, and what arrangements appear
to be necessary before it can be set to work in the preparation of the coinage.
I request you will be pleased to
acquaint the Right Honble the Governor in Council that I have reason to expect
the greater part, if not the whole of the machinery, will be in a state of
readiness about the commencement of the ensuing year; and as it appears to be
perfectly impracticable to carry on a copper coinage with machinery in the
present mint, it would be necessary that some building would be rented and
prepared for the purpose if there be no suitable public building unoccupied. There
will not indeed be more than sufficient space for the coinage of gold and
silver in the mint, the workmen being much crowded at present, and the
contractor having complained of the inconvenience which he suffers from the
limited extent of the buildings.
It would perhaps in the first place be
advisable to ascertain whether if the ravelin until lately appropriated for the
foundry, or that which was occupied by the assay Master for refining gold and
silver, be not otherwise required for the public service, the temporary
buildings contained in either might not be so far added to and altered as to
admit of their receiving the machinery, which may prove to be the least
expensive plan upon the whole.
Minute 1st October
Ordered Mr Henderson be informed that we
are not aware of any objection to either of the ravelins which have buildings
on them suited for conducting a copper currency being appropriated to the
services of the mint. Mr Henderson is therefore in communication with the
superintending engineer to examine them and send in an estimate of the expense
that would be incurred in rendering either of them available for the purposes
required by Mr Henderson.
Bombay Consultations.
P/411/39 p158
Letter from the Mint Master (Henderson)
to Government, dated
I have the honor to acknowledge the
receipt of your letter of the 28th ultimo, calling on me to report
when the machinery now constructing may be likely to be ready to begin a copper
coinage if a place be appropriated for the purpose.
In my letter of the 26th
ultimo, I offered an opinion that the machinery would be in readiness about the
commencement of the ensuing year, but under the 4th paragraph of
your letter to the Mint Committee of the 10th ultimo, it is
probable, as improvements may be introduced, that its final completion will be
delayed beyond that period.
The private of H.M. 65th
regiment employed as a die sinker having been obliged to embark with the corps,
this part of the work will be suspended until another can be procured. On the completion
of the machinery it may likewise be sometime before the workmen to be employed
can be sufficiently instructed in its operations.
I therefore request you will be pleased
to acquaint the Honorable the Governor in Council that, under all these circumstances,
the commencement of a copper coinage, if undertaken with the machinery
authorised to be completed for the purpose, would in all probability be delayed
until the month of February or March next.
Bombay Consultations.
P/411/39 p196
Letter from R. Bentley (Superintendent
of Engineers) to Lieutenant Co. Brookes (Chief Engineer), dated 23rd
November 1819.
In reply to your letter directing me to
examine in communication with the Mint Master, the building in the ravelin
lately appropriated to the foundry and in that which was occupied by the Assay
Master, and to report if either be suited to the purposes required by Mr
Henderson etc etc, I have the honor to state to you that I have examined with
Mr Henderson both ravelins and the machinery for which accommodation is
required, and am of the opinion that the buildings are not adapted to the
purposes of Mr Henderson.
Mr Henderson is of opinion that by
building in the ravelin for the accommodation of the machines for rolling
copper, some of the old sheds now standing may be converted to minor uses, the
magazine has been given up for furnaces etc, and should it be thought proper to
appropriate one of the ravelins of the place permanently in this way, the
machinery I have seen may be accommodated.
I beg leave to submit that it may be
within your recollection, the Cumberland ravelin has been contemplated as an
airing ground for the convalescents of the garrison/hospital, which has never
been adopted to ground immediately opposite to it, and is now upon reference to
the Honble the Court of Directors for approval. This work has been also
temporarily given by Government to me as a depot for my stores and a working
place for my artificers.
Minute dated 4th December
Ordered that the Mint Master be called
upon to report whether there be no other place suitable for conducting a copper
coinage as one of the outworks in the fort cannot be appropriated for the
purposes of a mint.
Bombay Consultations.
P/411/40 (1820) p. 4
Letter from the Mint Master (Henderson)
to Government, dated
Enclosed a statement of the output of
the mint in 1819:
|
Gold (Rs value) |
Silver (Rs value) |
||
|
On behalf of EIC |
On behalf of individuals |
On behalf of EIC |
On behalf of individuals |
|
900,772 |
2119 |
693,651 |
1,692,805 |
Copper: 57,603 (all for the EIC)
Figures to nearest whole number
Letter from the Mint Master (Henderson)
to Government, dated
With reference to your letter under date
4th December last, I request you will acquaint the Honble the
Governor General in Council that I do not know of any public or private
building unoccupied within the fort, which would answer for the reception of
the mint machinery. Among those occupied however one will probably be found of
the required description, and (if private property) which the owners would
agree to rent to the Government. The house formerly the property of General
Jones appeared to me on inspection to be likely to answer with some alterations
but it is appropriated by Messrs Remington & Co, to whom it now belongs, to
particular purposes.
The Honble the Governor in Council will
perhaps not feel disposed to sanction the erection of any buildings for this
machinery under the expectation of machines being sent from Europe, which may
entirely supersede the use of that now preparing, and would require a large
building of peculiar construction. But if it should be considered inexpedient
to rent a private house at probably a high rate, or appropriate for the purpose
any of the public buildings now occupied, which I conclude cannot be done, I am
not aware of any other plan that can be adopted. If the expense of erecting
substantial buildings cannot be incurred, some of a slighter structure might be
added to those in which the coinage is at present conducted, and which are of
the same description. But it would be requisite that very particular
precautions should be taken for the safety of the machinery etc.
In the event of this being resolved upon
in preference to renting a building, it will no doubt be advisable to ascertain
in the first instance, that there is no apparent possibility of the machinery
failing in its operations, which cannot be known until its final completion and
repeated and more extensive trials be made of its powers.
Bombay Consultations.
P/411/40 p67
Minute dated
Ordered that the Mint Master be called
upon to report how long he will require the use of the foundry and artificers
of the Gun Carriage Department under the permission granted to his predecessor
under the date
Bombay Consultations.
P/411/40 p71
Letter from the Mint Master (Henderson)
to government, dated
I have the honor to acknowledge the
receipt of your letter dated the 8th instant calling on me to report
how long the use of the foundry and the artificers of the Gun Carriage
Department will be required by this department, it having been represented that
if their use be continued, it will be necessary for the Agent to have recourse
to the Coppersmith in the bazaar.
In respect to the use of the foundry, I
have not been called upon to state the extent of the assistance latterly
afforded by it to the mint. It will be necessary only to report that the models
of the articles required to complete the machinery have been since the 8th
March at the Foundry, and that I am not aware that it will occupy more than two
days at most of the founder’s time to cast the whole. It is possible however,
if any further alterations in the machinery should prove necessary, as well as
any repairs after it may come into use, that the occasional altho’ very limited
assistance of the foundry may be hereafter required.
In regard to the artificers of the gun
carriage department, unless the founder be meant, this probably alludes to the
chief workman employed on the machinery who was formerly in that department,
but who cannot I conclude, have been on its list of establishment since he
began to receive his salary from this department. I beg leave further to
observe in respect to this person, whom I found employed on the machinery when
I received charge of it, that the Government will have chiefly to depend on his
practical mechanical skill for its completion, and for keeping it in repair
after the coinage may commence.
Bombay Consultations.
P/411/40 p71
Letter from the Mint Committee
(consisting of: J Best, Sub-treasurer; J Wedderburn, Accountant General; J
Henderson, Mint Master; B Noton, Assay Master) to Government, dated
As the mint machinery may probably be
soon completed, we have now the honor to reply to the letter from Mr Acting
Chief Secretary Newnham of the 10th September last.
In the second paragraph we are called
upon to report whether the specimens of coins which accompanied the Mint
Master’s letter to the Government of the 31st August, are
sufficiently well executed to allow of their being sent in circulation.
However little these coins will admit of
a comparison with the copper coins executed in England, some of which are still
to be seen in circulation, there can be no difference of opinion as to their
superiority over those executed in this country of which nearly the whole
currency is composed. We should therefore have no difficulty in recommending
their issue as the Government coin, if reliance can be placed (as we think it
can) on the whole being executed as well as the specimens which have been
submitted.
Much further improvement cannot, we
apprehend, be expected with the means now at command, except possibly in the
strength of the impression.
In the 3rd paragraph we are
desired to report whether the specimens correspond in weight and divisions with
the principles laid down in the 7th paragraph of the Committee’s
report of the 15th February 1817, and whether the gain contemplated
in that report will be realized from the issue of such a currency.
The seventh paragraph of the report
recommended the division of 64 pice to the rupee as the best upon the whole,
and the weight of 122 ½ grains troy each, as the lowest to which it would be then
prudent to reduce them.
The reasons for considering the division
of 64 to the rupee as the best will still operate, but it will be seen that the
committee contemplate a considerably greater reduction in the weight, if
machinery were to be employed in executing the coinage, and that they might be
issued at double their intrinsic value. It was in reference to this opinion
that the specimens were prepared, and the weight was meant to be brought as
nearly as possible to 100 grains each pice. The principle that copper may be
considered a subsidiary currency throughout our territory, being laid down, and
inconvenience having occurred in Bengal, as far as our information goes, from
the issue of a currency at a similarly reduced rate, this question seems to call
for no further observation. If therefore the weight of what would thus be the
pice were fixed at 100 grains, it would only remain to fix the weights of its
subdivisions.
But as it appears to be a desirable
object to introduce at this Presidency the denominations of the subordinate
monies of account, prevalent in Bengal and Madras, we should propose in view to
a correspondence with this new money of account, the following denominations
and divisions to be adopted in the new copper coinage. The money of account
would stand as follows
12 pice
1 anna
16 annas
1 rupee
which will therefore contain 192 pice,
and this we should recommend as the lowest denomination of our currency, each
pice to contain 33 1/3 grains. Then 3 pice – 1 qr anna; a name which we should
propose to be assigned to what would be the 100 grain pice above noticed, which
would otherwise create a confusion with the pice of account; and then 2 qrs
annas – 1 half anna; and 2 half annas – 1 anna; a change from which we do not
think any public inconvenience can arise, since in fact at the present moment
the copper payments in the market are always made as payment in annas.
Prospectively when a new silver coinage
may be introduced, we should contemplate the following gradations in the silver
coins Viz:
⅛ of a Rupee – 2 annas
¼ of a Rupee – 4 annas
½ of a rupee – 8 annas
1 rupee – 16 annas
but on this point it is unnecessary to
dwell at present.
On the question of the profit which may
be realised from the coinage, the committee were of opinion that if a regular
mint were established, in which the whole currency might be coined with
machinery, the profits on a copper coinage would be very considerable,
supposing that the establishment, which would be a fixed monthly charge, did
not require to be increased, but continued the same, whether copper were coined
in the mint or not; the profit on an issue of two lacks of rupees would be one
lack.
It will be seen however that this
calculation of the profit does not apply to the present state of things. The
whole cost of the machinery and the whole expense of a separate establishment
will have, perhaps, to be charged against the coinage. It would be extremely
difficult if not altogether impracticable to frame an estimate of the possible
profits, on which much reliance could be placed – a good deal will depend upon
the expertise of the workmen in leaving the least possible quantity of sizel,
and on the number of perfect blanks which may be turned out from the cutting
and stamping presses. Much will also depend on the quickness of the process, on
the number of the workmen to be employed, the price of the copper and sizel in
the market and the article required in the operations of cleaning. But we may
calculate on a greater profit than has been of late realised from the copper
coinage at the Presidency, which is only 1.2.78 per cent.
The 4th paragraph instructs
us to avail ourselves of the opinions of any persons who may be able to suggest
improvements in the machinery.
The Honble Boards are aware that the
late Dr Stewart was compelled to proceed to Europe from indisposition before he
was able to complete even the outline of the machinery. Some instructions were
left however with the head workman, and chiefly from these, from his own
ingenuity and from the suggestions that have been offered from one or two
persons whom we have been able to consult, the machinery stated in the Mint
Master’s letter of 31st August to be necessary for a copper coinage
has been at length nearly completed.
In consequence of the little assistance
which has latterly been afforded from the foundry, one rolling mill is
unfinished, but this and the dies are all that remain incomplete.
The chief difficulties which appear to
us to remain, are the execution of the dies, the apparent want of power in the
stamping presses to make a sufficiently strong impression and the adjusting
rolling.
The die sinker mentioned in the above
letter was able only to afford his services occasionally, as it was found
impracticable to transfer him from His Majesty’s 65th regiment to
the Honble Company’s European regiment, and we have lately been deprived of
them altogether. We have now however another on employment who will answer the
purpose sufficiently. There has been considerable difficulty in getting any of
the dies properly tempered, in consequence of which most of those yet tried
have become useless after striking a few impressions. This has however now been
surmounted in a considerable degree.
It is rather difficult to say whether
the present faintness in the impression arises from the mode in which the
presses have been constructed or from a fault in the dies, but we are induced
to think the former, because every alteration yet tried in the dies (which will
if practicable be sunk with punches) has proved but little effect. It is
possible enough that it may arise from the screws of the presses being only two
threaded, and a model of a four threaded screw has therefore been prepared by
the head workman, which when cast in the foundry, will be tried. If it arises
from any general defect in the mode of constructing the press, we fear the
hoped of remedy are but little. The only further observation which it seems
necessary to offer in respect to the impression is that it should be rendered
as difficult of imitation as possible, and we think that it will not be easy
for any native artist to imitate successfully that struck on the coinage of
1804, sent out from Europe, which might therefore be adopted and which will no
doubt sufficiently meet the wishes of the Honble Court on this point.
When the weight of the pice is to be so
much reduced, coining would become so profitable an occupation that it might be
imprudent to adopt any more simple impression.
In respect to the adjusting rollers, to
which point our attention is drawn in the 5th paragraph, the last
experiment which has been made, clearly shows that a less variation then 4
grains on each side of the standard weight, cannot be confidently expected with
the means at our command. The rollers of the mill and the smaller ones intended
to be used for the adjusting, have been turned with as much exactness as seems
to be in the power of the head workman, whose skill must be considered to rank
high.
Of about 190 blanks, cut out of seven or
eight copper slips, passed through the rollers, a considerable number vary as
much as 4 grains, and a trial of this extent may be held to have decided the
question. A good deal of skill and attention, it is true, are required in the
process, but we do not think much dependence is to be placed on a decrease of
the variation, from longer practice on the part of the workmen, considering the
inherent defects of machinery of this kind. We are therefore of opinion that a
remedy to this extent must be allowed in the coinage.
In the concluding paragraph we are
called upon to state what quantity of sheet copper should be provided, if we
might be of opinion on completion of the machinery that the coinage ought to be
undertaken. It appears that a considerable quantity of sheet copper had been
ordered round from Calcutta for the use of the mint, and the Mint Master has
been directed to receive charge of the whole, the cost of which is Rupee
258,385. The Mint Master has stated that until the extent of the coinage and
the weights and divisions of the coins to be struck be decided upon, he could
not form an estimate of the quantity which would be required. He was also
unable to say with any degree of precision, when the coinage could be commenced
in consequence of the improvements and alterations which might be made in the
machinery, and he had before shown that the process of coining would be
extremely slow.
We have submitted in paragraph 5 our
opinion with respect to the weights and divisions of the copper coinage. In
respect to its extent, the committee in their report of the 30th
April 1818, entertained and expectation that 5 lacks of rupees may perhaps be
eventually required, and the subsequent increase which our territory has
received will of course add considerably to that sum. It would be a matter of
much difficulty to obtain any correct notion of the extent of the copper
currency at present in circulation throughout out limits, and it may be here
observed that on whatever part of it may come into the Company’s treasuries,
sooner or later after the issue of the new currency, the loss will be the
difference between its value as a coin, and its value when melted down and sold
as copper, and must be deducted from the profits of the new coinage. After
making an allowance for what may have disappeared from the wear and tear of the
coins, and ascertaining the quantities issued from the mint, it would be
necessary in calculating the quantity in circulation to ascertain what may have
disappeared, by having been exported or melted down, and what may have been
brought into circulation by private coiners, all of which may have depended on
the price of copper in the market. On these points it is impracticable to
obtain any accurate information.
It will be seen that the machinery may
be still susceptible of improvement before the coinage commences. We think it
probable that the frame containing the four cutting presses will have to be
altered, so as to have each cutter separate, for as it now stands, as soon as
they come to be a little ground down which must occur frequently from the sharp
edge breaking, the lever of one will impede that of the next. But this would
not be a long operation.
From the improvements which have been
introduced since the Mint Master’s letter of the 31st August, the
process of coining will we expect go on faster than was contemplated at that
time.
Having thus afforded the information
required by the Government as far as we have the means of doing, accompanied by
such further observations as the subject seemed to call for, and shown the
progress which has been made in the machinery, we are yet compelled to hesitate
before we can recommend that the coinage should commence at the present moment,
even if it was complete and its power of executing a proper coinage were placed
(as we anticipate) beyond a doubt.
It will be seen from what has already
been said, that no reliance can be placed on the coinage realizing any
considerable profit to the Company if executed with this machinery under so
many disadvantages, and as we are given to understand that there is a
probability of the erection of a mint being sanctioned by the Honble Court, and
that European machinery will be sent out to this Presidency, it would in our
opinion be advisable to ascertain these points to a certainty in the first
instance. For it may appear that a much greater profit would be realized from
the coinage being executed by the European machinery, by the rapidity of the
process and the saving of labour, and the supersession of the necessity of
employing a separate establishment. On the other hand it may appear that the
new machinery may be less calculated to execute a copper than a gold &
silver coinage, and that it’s wear and tear might be greatly increased by
employing it in the execution of an extensive copper currency, in which case
the machinery completed here might come into use under fewer disadvantages then
at present.
If however it be found that the
expectation of our receiving European machinery is likely to be disappointed,
we can have no hesitation in recommending that the coinage should be commenced
upon with the other as soon as circumstances might permit.
In the meantime, and indeed at all
events, we think it would be advisable that the mint should be relieved of at
least two thirds of the Bengal copper, which not only exceeds in price what can
be procured here, but is besides in quantity much beyond what will be required
in the first instance, with reference to the period which the coinage will
occupy. Should the Honble Board concur in this opinion, the warehousekeeper may
be directed to receive charge and dispose of it accordingly.
Minute,
Resolved that the copper coinage be
suspended until we shall learn finally whether machinery for conducting the
coinage is likely to be sent from Europe.
Ordered that the warehouskeeper be
directed to receive back two thirds of the copper received from
Letter from the mint master (Henderson)
to Government, dated sometime after
Encloses the staement of the mint output
for 1820:
|
Gold (Rs value) |
Silver (Rs value) |
||
|
On behalf of the EIC |
On behalf of individuals |
On behalf of the EIC |
On behalf of individuals |
|
1953 |
72,991 |
17,337 |
482,579 |
Number rounded to nearest whole number
.
Bombay Consultations. IOR
P/411/40, 1821, p. 95
Letter from the Mint Committee to
Government, dated
Information on which, though unofficial,
we conceive reliance may be placed, having lately reached us through several
private channels that the Honble the Court of Directors have actually ordered a
set of the most improved modern machinery for the services of the mint at this
Presidency we are induced again to revive the subject, and represent the
expediency of undertaking a general reform of our currency, which we have never
indeed entirely lost sight of, but which the little prospect there seemed to be
of our ever possessing the means of accomplishing has, for some time past,
discouraged us from bringing under discussion.
Y prevails in almost every different
district subordinate to this Presidency, and the inconveniences both public and
private that must attend such a state of things, are already fully known to
your Honble Board. It is not therefore our intension to repeat here, nor to
endeavour to strengthen the arguments so often urged by us in former reports,
in favour of an uniformity of system. The advantages of such a system, both to
the financial arrangements of Government, and the interests of commerce, hardly
at any time need illustration. The real question was whether these advantages
were likely to compensate the immediate expense involving the erection of a new
mint, and the cost of machinery necessary to carry the measure into effect.
But as even this point may now, from the
step taken by the Honble Court, be considered as decided in the affirmative,
all that apparently remains to be discussed is the standard that should be
adopted for the new currency, together with the best means of introducing it
into circulation.
So many inconveniences attend all
alterations in the standard of the current coin that had we only the
circumstances of this Presidency to consult we should be much disposed to
recommend that none should be made, but it would be taking a very narrow view
of the subject, on an occasion of such general concern, not to have reference
to what has been done at Bengal and Madras.
We have accordingly reperused with attention,
the several documents quoted in the margin and, finding that the standard
proposed by the Honble Court in their orders of 25th April 1806, for
the whole of British India (which differs indeed very little from the present
Bombay standard) has, after the most mature deliberation, been adopted at both
these Presidencies, and as the alteration will not materially affect either
existing contracts, or the expenses of the Government, we are of opinion in the
event of the reform we contemplate in our currency taking place, that it would
afford a most favourable opportunity, and one that ought not to be neglected,
of introducing the same standard here.
With the view of assimilating still more
the monetary system of the three Presidencies, we would propose to adopt at the
same time, the same divisions as now obtain on the other side of India, for our
money of account, namely rupees, annas and pice, instead of Rupees, Quarters
and Reas, but in all other respects to consult as much as possible, local
convenience, as for instance in the sub divisions and denominations of the
coins with which, as given in the 6th paragraph of our letter of the
20th July 1820, our native subjects are already in practice
sufficiently familiar.
The accompanying tables of the weight and
assay of the coins, of the exchangeable value and of the monay of account, will
exhibit at one view, the whole of the proposed new monetary system which,
whether regard be had to the smallness and regularity of the subdivisions, or
the adaptation of the money of circulation to the money of account, appears to
us better suited to the wants and conveniences of the lower, and therefore most
numerous, orders of the community, than any other with which we are acquainted.
The only coin in the whole that seems likely to objection, and that chiefly on
account of its small size, which renders it inconvenient, is the gold rupee,
and we would therefore recommend its issue to be restricted to cases of urgent
necessity.
With regards to the best means of
introducing the new system into general operation, much previous enquiry and
correspondence with the local authorities will be necessary before the course
of proceeding can be exactly defined, for which however there will be ample
time and opportunity before the mint can be completed, and other necessary
preparations be made. All that we can pretend to offer at present are a few
general remarks on the principles that should be observed on the occasion.
We assume as a matter of course that
your Honble Board would not wish to make any alteration in the metal (silver)
that is actually the principle circulation medium, nor that the circulation,
nor that the circulation of the gold coins should be extended beyond the
Presidency and its immediate neighbourhood, to which they are at present
confined for, although the gold coin has long been considered, and has lately
been declared by [some] to be the standard currency at home, it seems quite
clear that the general wealth of our native subjects is not such as to require
so valuable a material for the purpose. The new copper coin as a subsidiary
currency, we conclude, would be introduced universally.
The stoppages of all other coinages and
the abolition of all other currencies, are obviously necessary conditions to
the successful introduction of the new system, though it will depend on the
result of the enquiries referred to in a preceding paragraph, whether we shall
be able to introduce it into all our districts simultaneously, or whether we
must be contented to do it gradually, district by district. We must also trust
to the same enquiries to guide us with regard to the amount of gold, silver or
copper coin, as the case may be, that will be required for each district and
the time that should be allowed for withdrawing the old currencies from
circulation.
These however, are points on which,
though important, we do not apprehend much difficulty in coming to a reight
decision, but there is another of still greater moment, to which, as equally
affecting the interests of Government and the subject, it will be necessary to
give the fullest consideration, before anything is finally determined on; and
that is the principle on which, and the extent to which the old currency shall
be exchangeable for the new during the period allowed for the introduction of
the latter.
Even here however, as far as regards the
gold and silver currencies, the value of which in circulation must always
depend ultimately on their intrinsic value, we hold the rule that Government
should bear the expense of the recoinage, and the old currencies should be held
exchangeable for the new, according to their respective intrinsic values, to be
both clearly equitable, and that usually followed in well ordered states. But
as it is to be otherwise with the new copper currency, which is to circulate at
a nominal value considerably above its intrinsic value, it will be necessary to
lay down other rules for its exchange with the old currency.
The experiment of issuing a copper
currency on these principles having completely succeeded in Bengal, doubtless
from the superiority of the execution, and the impossibility of the natives of
the country imitating coins struck by machinery, and from their issue being
limited to the real wants of the community, it must be unnecessary for us to enter
into any arguments to prove the practicability of the measure, and we shall
confine our enquiries therefore to an examination to the best means of
effecting the change, that is to say with the least expense to Government and
the smallest lost or inconvenience to the subject.
The local copper currencies will
generally, we believe, be found to consist of several different descriptions,
namely of such as have remained from former times or such as have been coined
under the immediate sanction of Government since the district came into our
possession, and of others of private manufacture which the wants or convenience
of the community have admitted into circulation.
With regard to the two former
descriptions, it seems but common justice that the holders should not be
subjected to loss by the introduction of the new system, and as the last could
hardly maintain their ground, unsanctioned by authority without an high
intrinsic value, it cannot be foregoing any great advantage, whilst it would be
an act of liberal consideration on the part of Government, to admit the holders
to an equality with the others.
We would accordingly propose that all
three descriptions of the old copper currencies shall be held exchangeable for
the new, at their respective nominal values, that is to say that the number to
be held equivalent to a rupee in the new currency, shall be given for the
number usually passing current for a rupee in the old, without regard to their
weight.
Even in effecting this exchange,
however, it will be necessary for the local authorities to use great caution to
prevent frauds, in regard to the number of old copper coins usually exchaged
for a rupee, as well as in regard to the metal of which they composed, which,
though professedly copper, is, infact, occasionally lead and of little or no
vaue. These last should, of course be rejected though they are more likely to
prove counterfeits than coins acknowledgedly current.
The old local gold and silver coins,
which the introduction of the new system will cause to accumulate in the
different public treasuries will, of course, be sent to the mint for recoinage,
whilst the old copper coins must, we apprehend, be disposed of for what they
will fetch as old copper merely, since any attempt to recoin them would be
attended with an expense wholly disproportionate to the object.
We entertain confident expectations
however, that the circumstances of the superior intrinsic value of the old
copper coins will occasion them to be exported, or converted to other uses,
rather than exchanged for the new currency. Of the probability of this the
local authorities will perhaps be the best judges, but at all events the effect
cannot, after operations are commenced remain uncertain, and our subsequent
proceedings cannot be regulated accordingly.
Of course little can be done towards
carrying these views, even if approved, into execution, until the actual
arrival of the machinery from England, since it would be unsafe to commence
building for its reception without more accurate knowledge than we possess of
its dimensions, but it has occurred to us that we might, without interfering
with, or impeding, the erection of the more perfect European machinery, which
we would recommend to be reserved for the coinage of gold and silver
exclusively, contrive to set in motion the machinery projected and begun by the
late Dr Stewart, and which for some time past has been constructed [?] in this
country for the coinage of copper.
As a proof of its powers, we beg leave
to hand up for the inspection of your Honble Board a few specimens of copper
coins (Viz 6 annas, 6 Half ditto, 6 quarter ditto, 6 pice), recently struck by
it, which appear to us of highly respectable execution, and should any question
arise as to the expediency of having two sets of machinery, we beg leave to
observe that we consider it of the utmost importance that we should, both with
a view to expedition, and of saving as much as possible the European machinery,
which, in the event of accident, we should find it so difficult to repair.
What we would propose therefore is that,
as Dr Stewart’s machinery may now be said to be completed, since dies only are
wanting, which can easily be supplied long before they will be required, a
vacant space of considerable extent – say three hundred feet in length and
fifty in breadth – be immediately enclosed simply by a wall, and that along the
inside of the back wall of the quadrangle, a line of rough but substantial
sheds be built, capable of containing the machinery in question, with one or
two strong casements, for the safe custody of the copper in course of coinage.
This enclosure, we entertain no doubts
from the general knowledge we possess of the dimensions of the European
machinery, will afford ample space for both, and will even admit of the copper
coinage proceeding whilst the building for the other machinery are erecting,
which, if practicable, will obviously be a very desirable arrangement.
The site we would recommend for the
enclosure, is that on which the new mint was formerly proposed to be built,
namely the space to the eastward of the mint tank, between the rear of the town
barracks and the north east angle of the castle, and we have only further to
add that, as it has become indispensably necessary to provide some building for
the reception of the machinery here at all events, the plan we have suggested
can hardly prove a very expensive experiment, even should our expectations of
receiving machinery from England be disappointed.
There then follows a table of weights
and assays.
To the Mint Committee from Government,
dated
I am directed by the Honble the Governor
General in Council to acknowledge the receipt of your letter dated the 20th
of last month, on the subject of a general reform of the currency under this
Presidency.
The Governor in Council requests you
will be pleased to draft and submit a series of distinct queries as the most
effectual mode of obtaining from the Commissioner in the Deckan and the several
Collectors such information as they can collect on the subject to which it
refers, as well as their opinion generally on the question.
The enclosing a space of ground is
sanctioned as you have suggested and corresponding instructions have been
issued to the commandant of the garrison and the chief engineer has been directed
in consultation with you to build sheds for the reception of the machinery for
copper coinage constructed by the late Dr Stewart, which you are authorised to
be complete.
Bombay Consultations.
P/411/40 p117
Letter from the Mint Committee
(including J Bouchier as Acting Mint Master) to Government, dated
[In?] the mint machinery constructed in
this country still remains in the premises of the house formerly belonging to
the late Dr Stewart, under the care of a respected Parsee, who has long been
employed on that duty, and whose wages, sixteen rupees a month, have hitherto
been defrayed out of a small balance remaining in the hands of the Mint Master,
on account of petty supplies, but which is now exhausted, we beg to recommend
that the Parsee in question may be placed on the strength of the mint
establishment from the 1st instant, either until proper buildings
can be erected for the reception of the machinery, or until further orders.
Minute,
Resolved on the grounds of the
Committee’s recommendation, that the Parsee employed in taking care of the
machinery constructed by the late Dr Stewart, be placed on the mint
establishment from the 1st of this month until proper buildings can
be erected for the reception of the machinery or until further orders.
Bombay Financial Proceedings, IOR
P/408/41 p103, 20th February 1822.
Letter to
the Assay Master dated 16th February 1822. India Office Collections
I convey the directions of the Honble
the Governor in Council that you report what amount of the coins stolen from
your office on the 28th August last has been recovered from the tank
near the mint and military pay offices.
Bombay Consultations. IOR
P/411/41, 1822, p25
Letter from the Chief Engineer (W. Brooks)
to Government, dated 26th February 1822.
With reference to Mr Deputy Secretary
Simson’s letter of the 4th December, I now forward a plan and two
estimates for enclosing a space for the new mint, with substantial sheds for
the copper coinage. The instructions contained in the letter alluded to, direct
rough but substantial sheds and, agreeably to that idea, the design and
estimate marked No 1 has been prepared, the amount being rupees 36,402-2-49.
The surrounding wall is proposed to be 12 feet high, which may perhaps be
proper to secure the premises.
I enclose a copy of the Civil Engineer’s
report forwarded with his estimate, in which he suggests a different design
marked No 2 at an expense of 42,286-3-07, framed agreeably to the opinion of
the Mint Committee, and certainly if the machinery to be used is connected with
the buildings, it may when in action have a tendency to shake and displace the
tiles. In this view the terrace roof would be preferable.
On the estimates I have no remarks to
offer.
Bombay Consultations. IOR
P/411/41, 1822, p31
Letter from Government to the Mint
Committee, dated
In reference to your letter dated 20th
November last, I am directed to inform you that the Civil Engineer has laid before
the Honble the Governor in Council an estimate of the expense that will be
incurred in enclosing a new mint with substantial sheds of terraced roof for
the accommodation of the machinery constructed under the superintendence of the
late Dr Stewart for coining copper, amounting to Rupees 42,286..3..07.
The Honble the Governor in Council
desires your opinion as to the necessity for incurring so heavy an expense
under the prospects entertained of receiving complete mint machinery from
England.
The plan and estimate transmitted for
your inspection you will be pleased to return.
Bombay Consultations. IOR
P/411/41, 1822, p50
Letter from the Acting Mint Master (J
Bourchier) to Government, dated 30th July 1822.
It will be in the recollection of the
Honble Board that when the late Dr Stewart made over to the charge of
Government some mint machinery which he had undertaken, it was permitted to
remain on the premises where it then was to be completed and has remained there
free of expense of rent to Government ever since.
Circumstances however requiring that
everything belonging to the mint should now be taken away from thence as early
as may be convenient, and Government having deferred erecting it for coinage
for the present, I beg to suggest that I may be authorised to bring it to the
mint in the first instance, to be stowed there until we commence coining again,
and require the room, when some other place for its reception must be obtained.
Reply to
I am directed by the Honble the Governor
in Council, to acknowledge the receipt of your letter dated the 30th
ultimo, and to authorise you to remove to the mint premises the machinery
undertaken by the late Doctor Stewart as you suggest.
Bombay Consultations. IOR
P/411/41, 1823, p2
Letter from the Acting Mint Master (J
Bourchier) to Government dated 4th January 1823
Encloses the mint statement for the year
1822:
|
Gold (Rs value) |
Silver (Rs value) |
||
|
For the EIC |
For Individuals |
For the EIC |
For Individuals |
|
365 |
0 |
7426 |
16905 |
Bombay Consultations. IOR P/411/41,
1823, p20
Letter from the Acting Mint Master (J
Bourchier) to Government dated
I have the honor to
acquaint you for the information of the Honble the Governor in Council, that I
have engaged a warehouse in town at the rate of fifty rupees per month, for the
purpose of keeping therein the mint machinery, iron, steel etc, belonging to
the Honble Company, which were formerly in the house of late Doctor Stewart.
I request the Honble the
Governor in Council will have the goodness to direct the Civil Paymaster to
discharge the bill for the rent of the said warehouse monthly, and instruct the
Town Major to allow a Centry (sic) for watching it.
Reply to
I am directed to
acknowledge the receipt of your letter dated the 4 instant and to inform you
that the Honble the Governor in Council approves of your having engaged a
warehouse within the Fort for the mint machinery, iron, steel etc formerly kept
in the house of the late Doctor Stewart.
The Civil paymaster has
been instructed to discharge the rent amounting to rupees 50 per month from the
date of the warehouse having been engaged.
As it is presumed the
machinery is not to be in use while in warehouse it does not seem necessary to
appoint a military Centry (sic) over it but you will adopt the same means as
are found sufficient in other departments for the security of goods in
warehouse.
Bombay Consultations. IOR
P/411/41, 1823, p47
Letter from Calcutta Government to
Bombay Government dated 30th July 1823
With reference to the
communication made by the Accountant General at Bombay to the Accountant
General at this Presidency under date the 16th May last, I am
directed by the Governor General in Council to transmit to you for the
information of the officers of the mint at that Presidency, the accompanying
copy of a letter from the Mint Committee and its enclosures from Mr Wilson, as
also copy of Regulation XI of 1819 relating to the Calcutta coinage.
I am at the same time
directed to request that copies of the mint regulations in force at Bombay may
be furnished for the use of the officers of the mint here.
Letter from the
Calcutta Mint Committee dated 21st July 1823
We beg to submit to
Government the accompanying copy of a letter from the Accountant General under
date the 5th instant, forwarding copy of a letter to this address,
together with its enclosures from the Accountant General at Bombay.
With a view of
elucidating the points adverted to by the Assay Master of the Bombay Mint, we
furnished the Acting Mint Master of this Presidency with copies of the
correspondence above alluded to and have the honor to forward herewith for
transmission to Bombay, a copy of Mr Wilson’s reply thereto, together with the
muster rupees submitted by him, as also copy of regulation XI of 1819 relating
to the Calcutta coinage.
We take this opportunity
to suggest the expediency of our being provided with copies of the Mint
Regulations in force at the Presidencies of Madras and Bombay.
Letter from the acting
mint master at Calcutta (H H Wilson) to the Calcutta mint committee, dated 15th
July 1823
I have the honor to
acknowledge your secys letter of the 10th instant, transmitting me a
copy of the letter from the Accountant General with its enclosures, and
desiring me to report of the subject of the communications from Bombay relating
to the treasure shipped from the mint to that settlement in February last.
The first letter of the
Assay Master of the Bombay mint, dated the 28th April, related to
the supposed difference in the assay reports of the Calcutta and Bombay mint,
the silver called 15½ Br in the former appearing to be but 13½ Br in the
latter.
It is unnecessary however
to discuss the apparent difference as Mr Noton concludes his letter by
accurately conjecturing the cause of the variation. We refer in the Calcutta
mint to our own standard. At Bombay the English standard is referred to. The
English standard is already 2 dwt better than the Calcutta standard.
Consequently 13½ dwt better than English standard is 15½ better than Calcutta
standard and the two denominations mean the same thing. The assays at Bombay
therefore precisely correspond with those at Calcutta.
With respect to the
avoirdupois weight quoted by Mr Noton as equivalent to the sicca weight, it
rests upon no authority. The only adjustment of sicca weight with European
weight ever recognised in the practice of the Calcutta mint is Troy weight, in
which the sicca weight is and always has been represented by grains 179.666 or
179 2/3. The assay papers it is believed, are usually forwarded in all packages
of bullion sent from the mint. They are of a different form and substance from
those used in England, which may have led to their being overlooked. They give
no more information however than the invoice, which is in fact made out from
the entries which they furnish and which it is obvious gave all the information
that was necessary on the present occasion.
On this subject I have
only to add that I beg leave to recommend the dispatch of a copy of the late
regulations of the Calcutta coinage, which will convey to Mr Noton all the
information he will require. A similar communication from the Bombay mint to
this effect would be equally acceptable.
The chief subject of the
second letter of the Assay Master of the Bombay mint, is the impression on the
coin. This was, no doubt, very defective. It appears that in the absence of any
better guide, a Bombay rupee was formerly procured from the bazar, and the
precise impression on it exactly copied. The blanks were, however, cut with a
larger face and consequently the letters of the impressions were spread out
beyond their original scale in order to cover a broader surface. This is what
Mr Noton objects to. It will be easily obviated now we have correct and full
impressions of the die. It does not appear that any objection is made to the
size of the rupees as long as the same proportion is observed in the
inscription. By a very inconsiderable alteration in this respect it will be
possible to introduce the whole inscription into the rupee coined here, the
superiority of which over the rude and imperfect coin of Bombay and the uncouth
coin lately prepared in Calcutta [can] not be advocated. I have the pleasure to
submit a Bombay coin, one of the last Calcutta coinage, and one of the coinage
contemplated for the future.
The difference of
standard observed by Mr Noton is, as he remarks, too inconsiderable to require
ammadversion. His valuation in fact corresponds with the result of the assays
of the Bombay coinage made in this mint, which indicated a small inferiority
notwithstanding the alligations were expressly calculated to give a slight
excess of betterness. The difference was not sufficient to warrant any
particular interference on the part of the assay office. How far such a result
was unavoidable, I shall be better able to judge now I have similar meltings
carried on under my own superintendence.
The rejection of so large
a number of rupees as 11,000 on account of their being plugged is certainly
discreditable to the care exercised in their fabrication. They ought
unquestionably never to have been sent out of the mint and in future due
attention will be paid to the prevention of such issue.
Bombay Consultations. IOR
P/411/41, 1823, p78
Letter from Madras Government to Bombay
Government dated 25th November 1823
A new coin having recently
come into circulation Canara and the shroffs there representing it to be a
rupee current at Bombay, though it is different from all of the coins of the
Bombay mint that have heretofore appeared, the principle Collector of the
province has applied for instructions as to whether he should receive it in
payment of revenue.
I am in consequence
directed by the Honble the Governor in Council to transmit to you the
accompanying specimen of the coin in question, and to request both that this
Govt may be informed whether it is a rupee of the Bombay currency and also, in
order to save time, that a direct communication of the same information may be
made to the principle Collector.
If the coin is of the
Bombay currency it will of course be received at Canara and held available for
remittance back to Bombay.
Bombay Consultations. IOR
P/411/41, 1823, p79
Letter from Bombay Government to Bombay
sub-treasurer dated 9th December 1823
I am directed by the
Honble the Governor in Council to transmit to you the accompanying coin which
has been received from the Madras Government as having recently come into
circulation in Canara with a request to be informed whether it is a rupee of
the Bombay currency.
You will be pleased to
report accordingly.
Bombay Consultations. IOR P/411/41,
1823, p79
Letter from sub-treasurer to Bombay
Government dated 10th December 1823
I have the honor to
acknowledge the receipt of your letter dated yesterday requesting to be
informed if the rupee that accompanied it, received from the Madras Government
as having recently come into circulation in Canara, is a rupee of the Bombay
currency.
I request you will have
the goodness to inform the Right Honble the Governor in Council that the rupee
in question belongs to the consignment of five lacs of Bombay rupees coined in
the mint of Calcutta, and sent into circulation under the Government
advertisement published in the courier of the 17th April last.
Another consignment of
twenty-five lacs of Bombay rupees coined at Calcutta, having been likewise
lately received, at this office, which will probably find their way to the
provinces of Malabar and Canara. I beg to enclose a specimen of these coins for
the purposes of being forwarded to the Government of Fort St George for
eventual transmission to the Collectors on this coast as being (with the first
consignment) received and issued at the General and Subordinate Treasuries
under this Government at the same rate and value as the silver currency struck in
the mint at this Presidency.
Bombay Consultations. IOR
P/411/41, 1823, p83
Letter from Bombay assay master (Noton)
to Bombay Government dated 26th December 1823
In reference to your
letter of the 20th September last, to the Mint Committee
transmitting the copy of a letter from the Honble the Court of Directors dated
the 4th June last stating that they had purchased for this
Presidency a complete set of coining machinery which would be delivered to them
in London in the month of April 1824…
Bombay Consultations. IOR
P/411/42, 1824, p23
Letter from the Bombay Government to
mint committee, dated 25th February 1824
I am directed by the Honble the Governor
in Council to refer to you the accompanying copy of a dispatch from the
secretary to the Supreme Government dated the 30th ultimo and desire
your opinion and report on the measure of announcing the Farruckabad rupee
current within the territories subordinate to this Presidency at par with the
Bombay rupee and of bringing the latter currency to the same standard and
weight as the Madras rupee.
Bombay Consultations. IOR
P/411/42, 1824, p33
Letter from the Acting Mint Master to
Government, dated
I have the honor to report for the
information of the Honble the Governor in Council, that the buildings in the
mint having been available for the reception of the machinery, Iron, steel, etc
lodged in the warehouse, which I am authorized to engage under date the 8th
of April last, I have given up the warehouse from the 29th of last month.
Bombay Consultations. IOR
P/411/42, 1824, p33
Letter from the Acting Mint Master to
Government, dated 2nd April 1824
It is with great regret that I have to
announce for the information of Government the death of Nurberam Bhowanidass,
the mint contractor, who had served the Honble Company in that capacity for a
number of years with the greatest integrity and in times of emergency as shown
in the mint records, so much to the satisfaction of the mint officers as to
obtain from Government very gratifying testimonies of its appreciation.
The petitioner having, as stated in his
petition, been the active manager at the mint for some years past, must be
competent to continue the same upon his own responsibility. I have no
hesitation therefore in recommending him to the Honble the Governor in Council
as a proper person to be entrusted with the mint contract until such time as
Government shall have erected the new mint, and be prepared to take the coinage
into their own hands, when it may be found very convenient to engage his
further service as a native assistant in the melting department.
There then follows the petition of
Sambal Hurrybaye
Bombay Consultations. IOR
P/411/42, 1824, p40
Letter from the mint committee to
Government, dated 31st March 1824
We have the honor to acknowledge the
receipt of Mr Secretary Farish’s letter of the 25th ultimo referring
to us the copy of a dispatch from the secretary to the supreme Government dated
the 30th January last, and desiring an opinion and report on the
measure of announcing the Farruckabad rupee current within the territories
subordinate to this Presidency, at par with the Bombay rupee and of bringing
the latter currency to the same weight and standard as the Madras rupee.
In reply we request you will have the
goodness to represent to the Honble the Governor in Council that there appears
to us not the smallest objection to the Farruckabad rupee being declared
current at par with the Bombay rupee throughout the territories subordinate to
this Presidency, and that our only ground for demure in recommending the
immediate adoption of the Madras standard without calling in our present rupee,
is thet it will operate as a discouragement to coining at our mint. For as the
new rupee will be current in common, and at par, with the old the difference in
quality (about one fifth per cent) in favour of the former will in effect be so
much added to the charges of our mint, which are already sufficiently high.
This might indeed be obviated by a
correspondent reduction of charge, but as that would leave a mere trifle to the
mint after covering the actual expenses of coinage, we are inclined to think
that it will be better to await the erection of the new mint, now shortly
expected, when the rate of charge may be reduced, and the calling in of the old
rupee and issue of the new, be made simultaneously. This was in fact the course
we proposed, as the Madras standard was that we recommend for eventual adoption
here in our report to Government of the 20th November 1821.
Proclamation
The Farruckabad rupee being of the
following weight and standard
Weight 180.234
troy grains
Silver 165.215
troy grains
Alloy 15.019
troy grains
Touch or parts of pure silver per cent 91 2/3
Alloy 8
1/3
The Honble the Governor in Council is
pleased to declare current until further orders, at par with the Bombay rupee,
within the territories subordinate to this Presidency and as such receivable
wherever the Bombay rupee is current, as legal tender in all public and private
transactions.
Bombay Consultations. IOR
P/411/42, 1824, p62
Letter from Government to Surat
Collector, dated 19th May 1824
I am directed by the Honble the Governor
in Council to acknowledge to receipt of your letter dated the 22nd
April last and to inform you that both the coins that have found their way to
Surat bearing the inscription of Zirbe Soort and Zirbe Moombay are Bombay
rupees coined at the mint of Calcutta and of the same value, and that there are
no Farruckabad at present in this island.
A few of each of these coins will be
forwarded to you.
Bombay Consultations. IOR
P/411/42, 1824, p76
Letter from Government to the mint
committee, dated 15th September 1824
The mint committee was asked to take
immediate measures to coin the rupee at Madras standard, and to give their
opinion on a general reform of the currency.
Bombay Consultations. IOR
P/411/42, 1824, p80
Letter from the mint committee to
Government, dated 27th September 1824
We have the honor to acknowledge the
receipt of your letter of the 15th instant transmitting to us the
copy extract from the secretary to the Supreme Government dated the 6th
ultimo and desiring us to take immediate steps for the coinage of a new rupee
of the Madras standard, at this mint, and further requiring us to offer an
opinion on the measures to be adopted for a general reform of our currency.
With regard to the first point, the only
step that seems to be absolutely necessary is the issue of a proclamation on
the part of Government, announcing the alteration in the standard of our mint
and declaring the new rupee current at par with the old. But we think it would
be also advisable for the Government to relinquish as suggested in the 3rd
paragraph of our letter of the 31st March last, such a portion of
the mint duty as shall be equal to the difference of intrinsic value or about
one fifth of one per cent, in order to prevent those who may bring bullion to
the mint for coinage, from suffering by the change. This will be trifling with
respect to silver and there seems no probability, to judge from present
appearances, of any gold being coined for a considerable time to come.
For our opinion and ideas at some length
on the question of the general reform of our currency, we beg leave very
respectfully to refer the Honble the Governor General in Council to our report
of 20th November 1821 and to observe that until we know with some
degree of certainty when the new mint, the erection of which has recently been
ordered, may be expected to be completed, we are not aware of any further
measures that can be taken with a view to that object.
The only alteration from the system of
currency therein recommended, which subsequent reflection and experience have
induced us to think, would be an improvement of the division of the anna into
sixteen instead of twelve pice, but as this would require a corresponding
alteration in the money of account, which is intended or proposed to be the
same at all the three Presidencies, the change would require the express
sanction of the Supreme Government.
There can be no manner of doubt that a
decimal division throughout would better suit our arithmetic, but on the other
hand the division by sixteenths is practically more simple and complete, as
well as much more congenial to the habits and usages of the people of this
country. For the rest there is high authority for the opinion that the minute
subdivisions of the lower coins has a tendency to cheapen commodities to the
poorer class.
The following would under such an
arrangement be the system of our copper currency instead of that given in the
tables accompanying our report above quoted.
Anna Troy weight 400 grains
Half anna 200
Quarter anna 100
Double pice 50
Single pice 25
4 pice = one quarter anna
8 pice = one half anna
16 pice = one anna
Money of account
16 pice = one anna
16 annas = one rupee
In conclusion we have only further to
submit the3 draft of a procalmationof our mint standard to be issued if
approved in a Courier Extraordinary and repeated in the regular paper both in
the English and native languages.
Bombay Consultations. IOR
P/411/42, 1824, p84
Advertisement, dated 6th
October 1824
The Honble the Governor in Council
having been pleased to direct a new rupee of the following weight and standard
to be struck at the Bombay mint Viz:
Troy Grains 180 grains
Pure silver 165 grains
Alloy 15
grains
Touch or parts of pure silver 91 2/3
Alloy 8
1/3
Is likewise pleased to declare the new
Bombay rupee and its subdivisions current from and after the 15th
instant at par with the present Bombay rupee and its subdivisions, within the
territories subordinate to this Presidency and, as such, receivable wherever
the present Bombay rupee and its subdivisions are current as a legal tender in
all public and private transactions.
P/411/43 – This volume is all about the
new mint
Calcutta 1822 – Nothing about the coins
produced for Bombay
p/411/44 – This volume is all about the
new mint except the extract below
Bombay Consultations.
P/411/44, p. 17 (16th February, No. 3, 4, 5)
Letter from the Mint Committee to
Government, dated
We request you will have the goodness to
submit to the Honble the Governor in Council that the article contained in the
enclosed list belonging to the mint machinery constructed by the late Dr
Stewart and which Captain Hawkins has examined and stated will be of no use in
the new mint, be distributed to the several departments therein suggested, and
that Mr B Mulholland, the European artificer now in charge of them, and who is
a most able workman, be retained for the service of the new mint and placed at
the disposal of Captain Hawkins
Articles to be transferred for the use
of the Stamp Office, Gun Carriage Department and Civil Engineers Department
|
6 Stamp presses with 7 spare screws and their brass boxes
complete |
For treasure and Stamp Office |
|
12 cast steel dies ready forged which may be made for
treasury dies |
|
|
5 cutting presses with 6 spare male and female cutters of
sizes |
For Gun Carriage Department |
|
2 rolling mills with 4 spare cog wheels |
|
|
1 slitting machine for slitting copper |
|
|
1 large turning lathe with 1 large flywheel |
For Civil Engineer Department |
|
1 spare spindle and brass lock |
|
|
6 iron rests |
|
|
15 iron turning tools |
|
|
4 iron callipers |
|
|
1 brass ditto |
|
|
5 iron catches |
|
|
1 small turning lathe with 2 brass chocks |
|
|
10 tools for turning wood |
|
|
3 iron rests and fly wheel |
|
|
1 foot lathe with 5 caste iron chocks |
|
|
12 tools for turning brass |
|
|
2 iron rests |
|
|
1 screw cutting lathe with 1 additional regulating screw
& brass box Two popet |
A quantity of unserviceable articles
such as carpenter’s and smith’s tools stated in the inventory may be sold by
public auction
87 dies ready sunk may be defaced
134 steel types can be defaced and sold
for the worth of the steel
Letter from Government to the Mint
Committee, dated
I am directed to acknowledge receipt of
your letter dated the 5th instant recommending that the articles
belonging to the machinery constructed by the late Dr Stewart may be made over
to certain departments and that the European artificer in charge of them should
be retained for the service of the mint and placed at the disposal of Captain
Hawkins.
The Honble the Governor in Council
acquiescing in your recommendations authorizes you to give them effect.
p/411/45 – All about the new mint
Info about old mint must be held
somewhere else?
Revenue Proceedings – 1824 index
z/p/3458 1825 z/p/3459 – Nothing there
p/411/50 – 1831 – There’s a lot about
getting the new copper coins into circulation. There may be more to be had
especially from the earlier part of the year
Bombay Consultations.
P/411/50. No. 169 (4th May 1831)
Letter from the Mint Master (J Farish)
to Government, dated 28th April 1831
I request you will have the goodness to inform
the Right Honble the Governor in Council that the silver coinage in the old
mint is now brought to a close, that the old buildings will be made over to the
engineer officer, and the establishment removed altogether to the new mint from
the 1st May, in which alone the coinage will hereafter have to be
carried on.
This transfer involves a change from
conducting the coinage by contract, to taking under the direct management of
the officers of Government.
In my letter of the 21st
September last, I had the honor of submitting a statement of establishment
which I considered to be necessary under this change of circumstances for
conducting the duties of the Mint Master’s office, the Assay Master, the
Refining Mint Master’s Assayer and Melter’s Department. I have the honor to
transmit an extract from the statement in question embracing this part of the
establishment, amounting to rupees 1199, exclusive of occasional extra hands,
which must however be considered liable to extension or modification as
experience may show this to be necessary. A part of this which has been
sanctioned by your letter of the 22nd November 1830, amounting
together with the present Establishment of the Mint Master and Assay Master (as
shown in the comparative statement accompanying my letter of 21st
September) to Rupees 613, is included in the statement enclosed. It was stated
in your letter that the subject was under reference to the Supreme Government,
but it is obvious that circumstances will not admit of further delay and I have
there most respectfully to request that the establishment as at first proposed
may now be authorized.
Bombay Consultations.
P/411/50. No. 178 (18th May 1831)
Letter from the Mint Master (J Farish)
to Government, dated 5th May 1831
I have the honour to acknowledge the
receipt of your letter dated the 2nd instant and request you will be
pleased to lay before the Right Honble the Governor in Council the accompanying
list of establishment of the old mint, showing those transferred to the new
mint.
In regard to the point noticed at the
close of your letter, as to whether the new mint is ready to commence a silver
coinage directly, I reqwuest you will inform the Right Honble the Governor in
Council that there is in the Treasury reserved for coinage in the new mint, bullion
to the value of abour rupees 218,222, which was brought for coinage to the old
mint too klate to be undertaken. I have requested the Acting Mint Engineer to
make arrangements to be prepared for the coinage of silver and I am not aware
of anything to prevent our proceeding as soon as working dies can be provided
from the matrices which we have, and beds, punches abd collars turned. When
these arrangements are made, I hope we shall not be delayed in consequence of
insecurity of the premises. At present, until the buildings required to
complete the inner enclosure are finished, it would not be safe for the mint
engineer to proceed with the precious metals.
While these preparations are making, the
Establishment have to learn the use of the apparatus with which they must work
and to acquire a knowledge of the method of refining and melting according to
the mode to be hereafter followed. I consider it to be necessary that the mint
should without delay be placed in a state of efficiency to coin whatever bullion
may be sent to it by individuals or Government, and it is a favourable
circumstance that the removal of silver from the old to the new mint occurs at
a period of the year when there will necessarily for a short time be
comparatively little coinage to conduct.
In the new establishment it is necessary
that many of the experienced persons employed by the contractor should be
employed by the Government. It was worth his while to keep them in regular pay
that he might be secure of their services and he was remunerated by the
commission he received. The commission or seignorage will now go to Government
and, on the same grounds, it must be for the public interests to receive the
parties into the public service from the 1st of this month when
their claim on him cease.
In my last letter I requested that the
establishment might be sanctioned as proposed on a former date and I have then
explained that the persons to be newly engaged would be taken into employ only
as found to be required.Under these explanations I trust the Right Honble the
Governor in Council will be pleased to sanction my suggestions of the 28th
ultimo
Bombay Consultations.
P/411/50. No. 281 (27th July 1831)
Letter from the Junior Principal
Collector, Poona, to Government, dated 11th July 1831
In reference to your circular of the 27th
ultimo on the subject of introducing the new currency into this Presidency, I
have the honor to bring to the notice of the Right Honble the Governor that
some measures probably should be adopted to prevent the Punt Suchen at Bhore
and His Highness the Rajah of Sattarah and other places coining pice which we
shall be unable to prevent coming into our districts as the stamp on each is
the same as that used in the Poona mint and consequently our district
treasuries will continue receiving the coins as that of our own manufacture. It
appears that so long as the Poona mint continued to coin copper, none was
coined either at Bhore or Sattara. I understand that they are just about to
commence at both places and a consignment of copper has actually left Poonah
for that purpose. For two years and upwards they have not coined at Bhore, the
capital of the Punt Suchen Territories, and I do not think it would be very
severe to prevent him doing so now. At any rate, if the power cannot with
justice be withheld, the coin and stamp should be altered to enable us to
recognise it from the Company’s old currency, and the alteration should be made
in the Rajah’s states. I beg to suggest however that a letter be sent to the
Resident immediately to prevail upon the Rajah either to stop coining
altogether in his states, or to limit the same to his own immediate states and
mint, if absolutely necessary, which however was put a stop to by the Paishwa,
and as paramount lord to prevent the Punt Suchen coining at all. He can have no
right to do so of himself, nor do I think the Rajah of Sattara has any right as
it was stopped by the Paishwa.
The mint at Phultun should also be
stopped and that at Wattar also. These belong to the Nimbalkur. The Rajah I believe
has attached these towns and territories at present.
Bombay Consultations.
P/411/50. No. 282 (27th July 1831)
Letter from Bombay Government to the
mint committee, dated 21st July 1831
I am desired by the Right Honble the
Governor in Council to transmit for your opinion and report, the accompanying
copy of a letter from the Juniour Principal Collector of Poona, dated the 11th
instant, suggesting the adoption of measures to prevent the native chieftains
in the Deccan from coining copper pice.
Bombay Consultations.
P/411/50. No. 302 (17th August 1831)
Letter from Bombay mint committee to
Government, dated 25th July 1831
We have the honor to acknowledge the
receipt of your letter dated 21st instant with one from the Junior
Principal Collector of Poona proposing certain measures for preventing the
native chieftains in the Deccan from coining copper pice, and in reply to state
for the information of the Right Honble the Governor in Council, that we
entirely concur in the Collector’s suggestions and accordingly beg to recommend
their adoption.
Minute of the Governor
Before we adopt the opinion of the
Committee, I should wish to refer the question as stated by the Junior
Principal Collector of Poona to the Resident for his opinion. I confess it is
to me very doubtful whether we ought to interfere in the internal management of
the Rajah of Sattara’s administration so far as to prevent his coinage.
Bombay Consultations.
P/411/50. No. 304 (17th August 1831)
Letter from Bombay Government to the
Resident at Sattarah, dated 11th August 1831
I am dirested by the Right Honble the
Governor in Council to transmit for your opinion the accompanying copy of a
letter from the Junior Principal Collector of Poona dated the 11th
ultimo, proposing that certain native chieftains in the Deccan be prevented
from coining and to call your attention to the suggestion offered by Mr Giberne
at the conclusion of the 1st paragraph.
Bombay Consultations.
P/411/50. No. 333 (21st September 1831)
Letter from the Resident at Sattarah to Government
, dated 26th August 1831
I have the honor to acknowledge receipt
of your letter dated the 11th instant and to report for the
information of the Right Honble the Governor in Council that there does seem
any objection to order the pice coinage at Bhore, Watar and Fultun immediately
to cease and I shall therefore request His Highness to give orders to this
effect.
On enquiry I have learnt that the mint
at this place has recently been set a going on a contract with a coiner for
several years but His Highness does not seem to attach much importance to its
continuation though he does not like, without cause, to abrogate the engagement
he has come under. He however states there is little doubt a good plea in
breach of contract on the part of the contractor will occur in the course of
the next three or four months or even before, in attempting to issue pice of an
inferior weight or debased metal, and that he will embrace such an opportunity
as his agreement authorizes, to suspend further operations.
As this mode of meeting the wishes of
the Right Honble the Governor in Council holds out a near prospect of getting
rid of the mint altogether, it may not be necessary to require any change in
the die in use here for so short a time, especially as the coinage is after
all, very limited.
This was forwarded to the Junior
Principal Collector at Poona.
Bombay Consultations.
P/411/50. No. 350 (12th October 1831)
Letter from the Junior Principal
Collector of Poona to Government , dated 19th August 1831
I have the honor in reference to my
letter of the 11th ultimo to state for the information of the Right
Honble the Governor in Council that I have received information that a large
consignment of copper pice have been received by the merchants in camp at Poona
from the Sattara and Punt Suchen’s territory. I should wish to be informed
whether immediate steps should not be taken to prevent the supply of copper
pice which the foreign mints have and will continue to afford. The pice will
find its way into our territory, there can be little doubt, and the only mode I
conceive as likely to remedy the evil, is to stop the mint in those territories
or to require another stanp to the coin, which I suggested in my letter alluded
to above.
I would further request to be instructed
whether I am authorized to issue instructions to all the Nakadars to prevent
the import of pice into our territories.
I also beg to bring to the notice of
Government that the intrinsic value of the old pice and new pice is almost as
one half more in favour of the former which weighs 9 ¾ massee. The new pice
weighs 6 ¼ ditto, so that about 90 new pice would be required for 60 old. On
issuing the procalation directed in the 7th paragraph of the
enclosure to your Circular of the 27th June, it is necessary to fix
the rate at which the old pice is to be received in lieu of the new. The
nominal number of old pice to the ankosee rupee here is 64 but this varies
considerably according to the supply of pice in the market.
The number of new pice (quarter annas)
fixed as an exchange to the ankoosee rupee in the Government Circular dated the
3rd June last is 62. I beg to know therefore whether the old pice
are to be received as old 64 for 62 new, or whether the exchange is to be fixed
more in reference to their respective intrinsic value. I fear there will be
some difficulty in the exchange as long as the old and new pice, being of such
very different value are in currency together, and I should wish to be
instructed what authority is to be excercised in compelling persons to receive
the currency now introduced as a legal tender, for I forsee much opposition on
the part of many in this city. For instance, if a shopkeeper or merchant
declines receiving 62 pice of the new currency for an ankoosee rupee and
chooses to demand a number equal in value to the number of the old pice I
should beg to be acquainted with the authority I am to exercise, as the
regulation allude only on this subject to the unlawfull coining and issue of
the same, vide sections of Regulation XIV AD1827.
In reference to exchanging the old fro
the new copper currency, I beg to enclose a statement from the sub-Collector of
Sholapoor showing the different coins receivable with the rate of exchange in
the new and old copper currency.
My opinion is that the old should be
exchanged fro the new at the rate now fixed without regard to the intrinsic
value of the copper, but some punishment will be necessary to those who refuse
to receive the legal tender. It is probable that if this is the case, the
greater part of the old currency will find its way gradually out of the
Company’s territory were we to pay the full value of the copper with the new
currency, the loss to Government would be great as it is impossible to
distinguish the copper coined in the Sattarah states from that coined in ours.
Attached in a statement for Sholapur as
stated above.
This is followed by much minuted
discussion including the comments of the Governor (Clare) as follows:
This should be referred in the first
place to the Mint Committee and they should report whether there is a
sufficient quantity of the new pice coined ready to be issued to meet the
demands in the several districts. If thereis, the Collectors should be supplied
with the quantity required by them and they should call in the old pice and
exchange them for the new pice and after a certain day the old pice should not
be received, but I apprehend a Regulation will be necessary as there is, I
apprehend, no obligation of anyone at present to receive the coin issued by
Government. This I have already suggested in a former minute.
I do not see how the present difficulty
can be met at Poona except by adopting the suggestion of the Junior Principal
Collector, but to enable him to carry his plan into effect, he should have a
large supply of the new coin.
I wish the Mint Master to be called on
to state what quantity of the new pice he has issued, whether he has supplied
the Collectors with the quantity they stated they would require and which was,
I believe, communicated to him, and if not, when he will be prepared to do so
and what causes have hitherto prevented him from issuing the quantity required.
I think Nakadars and the officers
stationed on the frontier should be instructed not to allow the importation
into our territory of pice coined at Satara or at any other foreign mint, tho’
this question has been referred to the Revenue Commissioner for his opinion. I
think prompt measures are necessary to check the evil complained of. Having
given my sentiments on this subject, it is of so much importance to issue the
necessary orders, I beg they may be issued from the Presidency. If, in the
details of the question, any better arrangement shall be approved of by my
colleagues, I shall be satisfied to abide by their decision.
Bombay Consultations.
P/411/50. No. 314 (24th August 1831)
Letter from the Principal Collector of
Ahmadabad (J Vibart) to Government, dated 26th July 1831
I have the honor to bring to the notice
of the Right Honble the Governor in Council that the Rajah of Bhownugher has a
mint in the town of Bhownugher for coining copper pice and which are sold by
him and pass current through the Western Districts.
I called upon the Rajah sometime since
on the subject, requesting him to state on what grounds he rested his right to
issue coin and beg submit his answers on the point.
I shall feel obliged to your furnishing
me with the instruction of the Right Honble the Governor in Council as to what
steps should be taken with regard to this mint on the introduction of the new
copper coin into those districts, whether the mint should be stopped or merely
the coin declared not current in this Zillah
Bombay Consultations.
P/411/50. No. 315 (24th August 1831)
Translation of a letter from Rawul
Nujjasungjee and son Koonvursee Bhowsee to John Vibart esquire, Magistrate of
the Zillah of Ahmadabad
Your letter dated the 14th of
[Jestvud] has been duly received and I have understood its contents. You have
written that it has been reported to the Sircar that I had established a mint
in the town of Bhownugur for coining copper pice and calling upon me to state
by whose authority I had done so, from what year and on what right. I beg to
state that this mint has not been recently established by me but has been
[Coeval] with the town that the coining of copper pice has been carried on
previous to the time of the late Wuckhutsingjee and that according to which, it
still continues. The mint ahs not been established on any new grounds, as the
management of the Mehaul of the Bunder has been under ny ancestors, so has also
that of the mint.
I rely on your protection and goodness
These two letters were sent to the Mint
Committee
Bombay Consultations.
P/411/50. No. 364 (12th October 1831)
Letter from Revenue Commissioner to
Government, dated 1st October 1831
I have the honor to acknowledge receipt
of your letter of yesterday’s date calling for my opinion on the propriety of
adopting certain preventive measures relative to the introduction of copper
coins from foreign mints suggested in a letter from Mr Giberne of which a copy
was also forwarded.
I am not acquainted with former
proceedings on this subject, but have observed the interested combinations
among the shroffs and persons who have hitherto benefited by the fluctuations
in the copper currency, and would therefore suggest as a means of defeating
these that some public explanation of the views of Government should be made
and I submit a draft which may also serve the purpose of explaining the points
taken advantage of to mis represent the intentions of Government.
The preventive measures on which my
opinion is required are, the stoppage of foreign mints and preventing the
import of pice into our territories.
The former of these will no doubt tend
to reduce the quantities of pice in circulation and may be accomplished with
states entirely dependent on us, but wherever our neighbours are of sufficient
rank or power to have mints of their own, as the Guikwar in Guzerat, the Nizam
in the Dekhan, the Portuguese settlements etc, such a measure could not be
resorted to, and these exceptions are sufficient to derange plans for
introducing a new coinage by stopping other mints.
The second measure proposed for
preventing the importation of pice would also have some effect, but it would be
extremely difficult to enforce the prohibition if the people continued desirous
of obtaining foreign pice, which will no doubt be the case until the Banyans
and dealers can be prevailed on to receive the new coinage, without which it
can be of no use to the people. I would therefore suggest that some measure
should be adopted to declare the new pice a standard currency and to oblige all
persons to receive them, under such penalties as Government may be pleased to
appoint.
Notification
Be it known to all persons that the
Honble Company’s Government having observed that the poor have hitherto been
subjected to great loss by variations in the numbers of pice current for each
rupee, and being desirous to prevent this for the future, determined to coin a
copper currency in numbers and denominations corresponding with the divisions
of rupees established in the country, of a description which could not be
imitated and containing a smaller quantity of metal than could be procured for
their nominal value, in order that while false pice could not be coined, there
might be no temptation at any time to melt or otherwise dispose of them, and
thus occasion similar mischiefs of differences in pice. And whereas it has
already been made known by former public notifications that these pice have
been coined, this advertisement is now issued to make known the objects of
Government in adopting this measure, to remove all doubts respecting it. The
pice are merely a token or representation of the value stamped on them and will
always be received in the public treasuries at the same rates as they are
issued in payment of revenue or any other transactions with Government.
Minute of the Governor
The letter of the Revenue Commissioner
may be sent to the Mint Committee with reference to Mr Giberne’s letter already
before them. The proclamation may, I think, be issued immediately being
translated and lithographed, 500 copies at least should be distributed, of
which 100 may be sent to Poona. This proclamation cannot interfere with any
ulterior measures to be hereafter decided on.
Bombay Consultations.
P/411/50. No. 372 (19th October 1831)
Letter from the Bombay mint Committee to
Government, dated 24th August 1831
We have the honor to acknowledge the
receipt of your letter of the 19th instant with copy of one from the
Principal Collector of Ahmadabad and its enclosures respecting the mint in the
town of Bhownuggur, the coins issued from which are current in the Western
Districts of the Zillah.
We request that you will bring to the
notice of the Right Honble the Governor in Council that it appears to us to be
a question depending upon the nature of our political relations with the Rajah
of Bhownuggur whether he should be allowed to coin copper or not and if not,
whether any compensation should be given him for relinquishing his privilege.
It would certainly be desirable to prevent him coining pice if it can be done
without injustice.
Should this however be impracticable or
the objections and difficulties be greater than the advantages to be secured,
we request you will submit our opinion to His Lordship in Council that the
course suggested in para 3 of the extract accompanying the Government Circular
of the 27th June last in regard to the coinage of foreign states
should be followed.
Bombay Consultations.
P/411/50. No. 373 (19th October 1831)
Letter from the Bombay Government, to
the revenue commissioner, dated 5th Serptember 1831
In transmitting to you the enclosed copy
of a letter from the Mint Committee dated the 24th of last month and
of the one from the Principal Collector of Ahmadabad therein referred to, I am
desired by the Right Honble the Governor to request your opinion on the
question therein submitted, regarding the copper coin issuing from the mint at
Bhownuggur.
Bombay Consultations.
P/411/50. No. 374 (19th October 1831)
Letter from the the revenue commissioner
to Government, dated 7th October 1831
I have the honor to acknowledge the
receipt of your letter of the 5th ultimo with enclosure and calling
on me for my opinion regarding the copper coin issuing from the mint at
Bhownuggur.
The Circular of Government of the 27th
June last with accompanying extract has not been sent to me, so that I do not
know to what measure the Mint Committee allude in the 3rd paragraph
of their letter, neither has the Bhownughur Thacore’s answer to Mr Vibart been
sent, but Bhownughur has long been known as a place where false and debased
coins of different descriptions were fabricated. It is however situated within
our limits and is subject to our authority so that there cannot, I presume, be
any doubt of our right to prevent coining of any kind there, if Government
should so determine, but I am not sufficiently acquainted with Katteewar rights
to be able to say whether the Thacore might not be entitled to coin at Leehor
if he chose to transfer his mint to that place…
Bombay Consultations.
P/411/50. No. 375 (19th October 1831)
Letter to the principal collector of
Ahmadabad from Government, dated 18th October 1831
I am directed by the Right Honble the
Governor in Council to acknowledge receipt of your letter dated 26th
July last to the address of Mr Chief Secretary Norris soliciting instructions
respecting the copper coinage struck in the mint at Bhownuggur and to convey
the request of the Right Honble the Governor in Council that you will report
the exact relations subsisting between this Government and the Thacore of
Bhownuggur and whether they are such as to admit of steps being taken for
stopping the mint at that place
Bombay Consultations.
P/411/50. No. 391 (9th November 1831)
Letter from the Resident at Satara to
Government, dated 16th October 1831
I have the honor to reply to your letter
dated the 26th of last month concerning the pice mints in the
territories of His Highness the Raja and his Jagherdars, to report for the information
of the Right Honble the Governor that His Highness by a memorandum No 76 dated
13th instant, has advised me that he has put a stop to the
manufacture of pice at this place and has ordered that all the other mints in
his territory be closed.
Should the Collector of Poona ascertain
therefore that any of them is still clandestinely carried on, I shall on his
appraising me of the same, take measures against the offending parties.
Bombay Consultations.
P/411/50. No. 399 (15th November 1831)
Letter from the Acting Register of the
Court of Sudder Adawlat to Government, dated 26th October 1831
I am directed by the judges of the Sudur
Dewanee and Sudur Fuojdaree Adalut to acknowledge receipt of your letter of the
22nd instant and enclosures, calling upon the judges for their
opinion whether it is necessary a Regulation should be enacted declaring the
new copper pice the standard coin of this Presidency and receivable at the
value at which it is issued.
In reply the judges ask me to state that
they have no doubt of the new pice being legal tender without any specific law
in the strict sense of the expression, as a civil court would certainly hold a
dependent exonerated on offering payment in a coin issued formally and at a
determinate value by the Government, always excepting any circumstances from
which obvious and reasonable objection may arise, for instance offering payment
of a lack of rupees in copper coin when other was easily to be had.
The present question however is of a
different nature. The Collector appears to contemplate obliging individuals to
hols dealings in an article which they do not wish to deal in. To take the new
pice not in payment of debts but as a capital to carry on business with, and
such an object is not likely to be well or safely obtained by a simple act of
authority.
The information furnished by the
Collector shows so great a deficiency in the intrinsic value of the new pice
that the Honble Board of Council will probably consider the matter as requiring
other consideration than belongs in the judicial department.
Bombay Consultations.
P/411/50. No. 400 (15th November 1831)
Letter from the Acting Advocate General
to Government, dated 31st October 1831
I have the honor in reply to your letter
of 22nd instant to state that I am inclined to doubt the legality of
the late issues of copper pice at Poona on the point of intrinsic value and the
small proportion it seems to bear to the nominal imposed on the coin by
Government but on that ground alone.
The prerogative of coining new money or
adopting what comes from foreign countries and fixing the value, belongs to the
Executive Government here exercizing the sovereignty with which the law has
invested the East India Company and this prerogative is as well derived from
Royal Grant as from the powers incidental to all sovereigns, of protecting and
regulating trade and commerce in their dominions, towards which object a
properly established currency is so great an auxiliary.
The Government here therefore ought to
possess that power to the same extent as the executive at home exercise it, and
it should also be linked by the same constitutional bounds. Now one of these is
always to observe a certain proportion between the intrinsic value of the coin
and that which is represented by it
under the authority of the proclamation. The Government should not admit
of a greater departure from the identity of these two valuations than a small
seignorage, sufficient to protect the coin from being made an object of trade
and speculation and brought up or otherwise [eloigned] from circulation.
How far the very great difference of
intrinsic value or perhaps I should say weight in the new coin and the old has
been judged necessary, I cannot pretend to say, or whether it has any reference
whatever to that subject, but in case it should not, I should feel great
reluctance in recommending to Government the adoption of any compulsory
measures to procure a circulation of what seems to me to be a depreciated
currency, for such it must be called if the ankosee rupee when in juxtaposition
with the new and the old coin is intrinsically worth 90 of the former but 60 of
the latter, a fact which ought to have prepared the Collector fully for all and
even greater difficulties than he has encountered in pressing the new coin into
circulation.
I shall mention another restriction
which has been frequently adopted at home in the issue of a copper coinage Viz:
that it shall not be tendered with legal effect, in a greater effect, in a
greater quantity than makes up the value of the lowest piece of silver money in
circulation. In one payment thus no more than 12 half pence or 24 farthings
making up six pence shall be offered in one payment, nor of penny or two penny
pieces than 12 and 6, being equivalent to one shilling. A similar limit has
been put to payments in silver money which cannot however hold an analogy here
as our gold has disappeared and the rupee has no superior in our circulation.
I have little hesitation in declaring
that issues by Government of all coins are sufficiently legalized by
proclamation and that a regulation is not required. His Majesty exercises his
Royal prerogative by proclamation in the case of a new coinage, such as was the
late one of sovereigns etc, but for the issue of an accustomed coin such as
half crowns, shillings and six pences, a proclamation even has been judged
unnecessary.
As to the power which the King is said
by some ( and among them is found the respectable name of Mathew Hale) to have,
of giving a currency at an arbitrary value to a debased circulation, Lord Coke
and Sir William Blackstone, denying such to [inhere] in the Royal Office of our
constitution, the reason seems plain enough Viz:that a power which is given for
the benefit of the subject should never be exercised to their loss and detriment.
But however legally the Government may
issue coin by the force of their proclamation, I must be permitted to doubt
that they can lawfully render penal any offences or malpractices in respect of
the present issue on account of the inherent defect of intrinsic value. At the
same time I must remind you that as all my objections to the legality of this
issue are founded on an hypothesis that may be in reality false, they must be
received subject to this qualification.
The discussion following this concluded that
the weight of the new coins had been fixed by the Court of Directors.
Bombay Consultations.
P/411/50. No. 401 (15th November 1831)
Extract from a letter from the Honble
Court, dated 27th March 1829
We have determined that the copper money
to be coined in your mint do consist of three denominations, namely half anna,
quarter anna and one pice (or twelfth anna) pieces, the first (or half anna) to
weigh 200 troy grains, the second to weigh 100 troy grains and the third to
weigh 33 1/3 troy grains, that is 6400 troy grains copper (or 64 quarter anna
pieces) are therefore to be equivalent for one rupee of silver, according to
the proportion established by the Bengal Government and to which we desire you
to conform.
A circular was then sent to all
Collectors asking them to compare the intrinsic values of the new copper coins
to the old.
Bombay Consultations.
P/411/50. No. 404 (15th November 1831)
Letter from the Mint Master (J Farish),
dated 7th October 1831
I have the honor to acknowledge the
receipt of you letter of yesterday’s date and to transmit for the purpose of
being laid before the Right Honble the Governor in Council, a statement of the
quantity of new quarter annas which have been struck and paid into the
treasury.
I beg respectfully to refer to the
sub-treasurer to whose department the duty belongs, for information regarding
the disposal of the new copper coin and what Collectors have been supplied, and
as your call is urgent I have transmitted to that officer an extract of your
letter that he may report thereon at once to Government.
From my letter of the 22nd
March last, His Lordship in Council will be aware that though the aggregate of
the Collectors estimates was upwards of Rupees twenty five lacs, my opinion that
half that quantity was probably nearer what would be required. The new mint is
now coining at the rate of twenty five thousand per month and at that rate
therefore, if nothing occur to prevent it, it would require between three and
four years to complete the small quantity.
It is evident therefore that one cause
which has prevented the whole quantity being coined is that there has not been
sufficient time for the purpose. At the commencement of operations, coining did
not proceed so rapidly as it is now doing, which will appear from the
statement. With regards to the future, the causes which may retard the copper
coinage are, the mint being required to coin silver and the want of those
working stores which can only be obtained from England. Indents have been duly
sent home but I have received no intimation that any are to be supplied in the
present season and, if not, great inconvenience and delay must arise. Indeed it
is to be feared that from want of some essential stores, the mint may be unable
to continue working unless the supply indented for should arrive.
No Quarter Annas Produced. 1831
|
|
Value (Rs) |
|
January |
17850 |
|
February |
3050 |
|
March |
3550 |
|
Alril |
21150 |
|
May |
8400 |
|
June |
5150 |
|
July |
15300 |
|
August |
34650 |
|
September |
32000 |
Bombay Consultations. P/411/50.
No. 407 (15th November 1831)
Letter from the mint committee to
Government, dated 11th October 1831
We have the honor to acknowledge the
receipt of your letter of the 6th instant with enclosures from the
Junior Principal Collector of Poona, reporting the opposition offered by the
inhabitants of Poona to the introduction of the new copper coinage.
A reference to Steels’s summary of Hindu
law and customs (Page 327, near the foot) will at once explain the origin and
motive of the opposition of the Poona Shroffs to the introduction of the new
quarter annas, which they artfully endeavour to impute to the Ryots. We have
very little faith in the efficacy of prohibitions and penalties in such cases,
and think that the only means of any avail will be to supply the Collector with
a sufficiency of the new quarter annas, to exchange for the old, and then to
fix a date beyond which the latter should not be current. In the meantime Mr
Giberne might be instructed not to press the issue of, but to comply with all demands
for, the new quarter annas.
We understand that measures have been
adopted to stop the working of the mints at Satara and the Punt Suchew.
We beg to submit to the consideration of
His Lordship in Council, whether it would not be expedient to pass a requlation
to the effect of the proclamation of the 29th November 1830.
There then follows two proclamations,
one of 29th November 1830 stating that the new copper coins were to
be struck and the second of the 3rd March 1831 stating that the old
pice would continue to pass current
Bombay Consultations.
P/411/50. No. 410 (15th November 1831)
Letter to the Junior Principal Collector
of Poona from Government, dated 12th November 1831
I am directed to acknowledge the receipt
of your letter of 19th August and 13th September last to
the address of Mr Secretary Bax on the subject of the new copper currency and
to acquaint you that the right Honble the Governor in Council is pleased to
authorize your establishing shops at which the new coin will be received, if
the shopkeepers still refuse to receive it, and you are satisfied that the
measure will have the desired effect, notwithstanding the opposition which you
apprehend will be offered to it by the shroffs.
His Lordship in Council desires me at
the same time to request you will instruct the Nakadars and officers station on
the frontier, not to allow the importation of copper money coined in foreign
mints.
In order to facilitate bringing the new
copper coi into circulation the Right Honble the Governor in Council deems it
desirable that the old pice should be declared not current, but not until you
are provided with a sufficient quantity of the new to exchange for it. You will
therefore be pleased to ascertain in communication with the sub Treasurer, the
probable period when a sufficient supply can be obtained for that purpose, and
report the date beyond which you would recommend the the old copper money
should not be current.
Bombay Consultations.
P/411/50. No. 426 (23rd November 1831)
Letter from the Principal Collector of
Ahmednuggur to Government, dated 10th November 1831
I have the honor to inform you that
having received a supply of 15,000 Rupees worth of copper quarter anna pieces,
my attention has been directed to the circulation of them and that I feel
assured from the enquiries I have made that the intention of Government will be
effectively opposed by the shroffs and the people until the Collectorate is
filled with a supply of the new currency equal in number to the old. My opinion
is that an experiment should be tried in any one district of sending it all the
coins that fall from the mint and none to other places, until that district is
completely supplied. That the Collector should send supplies to his Shekdaurs
and to Cusba towns equal to the demand for their ranges and when everything is
thus ready he should issue a proclamation declaring the circulation of old pice
illegal, and at an end. That the old pice would be exchanged for their
corresponding weight in new pice (provided they were of the standard and bona
fide of the old constituted currency). That the rupee of the district would be
exchanged at so many new pice for a rupee and that it was optional [for]
withholders to melt down the old pice into utensils etc.
It is not necessary to enter into a
history of the reasoning by which I have arrived at these conclusions or a
dissertation on so intricate a question. I may content myself by stating that I
feel assured a successful opposition will be made to every arrangement for
insinuating the new currency by degree, and that Government will at some time
have to enter the field with a veto of the kind I have suggested, and the
provision of a perfect facility obtaining the new coin. A more suitable scale
for for exchanging the old copper coins may occur to you, but the main features
of the plan will perhaps be best found in those I have recommended. I should
advise the measure also in one district only at first, in case it should prove
abortive or be met by too much popular discontent.
I should also advise the selection of a
district where there are the fewest great shroffs or influential bankers and
perhaps the further from Bombay the better, Candeish for instance.
Jageerdaurs and Enamdaurs within the
Collectorate should be furnished with the new currency and it should be made
obligatory on them to support the measure to the fullest extent.
This was passed to the mint committee
who though that it was a good idea in principle with some exceptions and the
Collector of Ahmednugggur was asked how much copper coin he would need to
conduct the experiment in his Collectorate
Bombay Consultations.
P/411/50. No. 448 (31st December 1831)
Letter from the principal collector of
Ahmadabad to Government, dated 29th October 1831
I have the honor to acknowledge the
receipt of your letter of the 18th instant, calling upon me to state
precisely the relations on which the Government stand with regard to the Rajah
of Bhownuggur, and beg to inform you that the Rajah is precisely on the same
footing with regard to his possession etc in the Goga Purganna as any other
Gamettee. I do not find from any of the records that the Rajah ever claimed any
sovereign rights in the Goga Purganna previous to its cession by the Paishwa to
the Honorouble Company by the treaty of Bassein, and it fully appears by a
letter from Mr Chief Secretary Warden dated 23rd April 1811, that
the Government did not recognise any further rights than those enjoyed by other
Gamettees on our taking possession of the Purganna.
The town of Bhownuggur is subject in
every way to the operation of the regulations and I conceive Government would
be fully authorized in suppressing or, what would be equivalent to the same,
declining to admit the coin as current in our district.
The Rajah in his letter which I did
myself the honor to lay before Government, rests his rights on the length of
time that the mint has been in operation, upwards of 50 years.
Bombay Consultations.
P/411/50. No. 449 (31st December 1831)
Letter to the political agent in
Kattywar from Government, dated 22nd December 1831
I am desired by the Right Honble the
Governor in Council to request you will reply to my letter dated 18th
October last calling upon you to report the exact relations subsisting between
this Government and the Thacore of Bhownuggur, and whether they are such as to
admit of steps being taken to prevent that chief from maintaining a mint.
Bombay Consultations.
P/411/51. No. 4 (25th January 1832)
Letter from the mint master to
Government, dated 31st
December 1831
Encloses the output of the Bombay mint
for 1831. The total silver coinage is not visible (hidden in the centre of the
page but the total copper coined into quarter annas was 197,450 rupees worth.
Also shows the annual salaries of the principle players at the mint:
|
|
Rupees (rounded) |
|
Mint Master |
20,000 |
|
Deputy Mint Master |
6000 |
|
Assay Master |
15000 |
|
Mint Engineer |
11455 |
|
Assistant Mint Engineer |
4170 |
|
Mint Master’s Establishment |
7592 |
|
Assay Master’s ditto |
958 |
|
Mint Engineer’s ditto |
42584 |
There are letters from the collectors of
Candeish (No 20), Poona (21), Concan (22), Surat (23), Ahmadabad (43) and
Dharwar (24) discussing the new copper coins.
Bombay Consultations.
P/411/51. No. 49 (28th March 1832)
Letter from the sub-collector of Dharwar
to the acting principal collector, dated 8th February 1832
I have the honor to acknowledge your
letter of the 13th instant transmitting a communication from the
Budamee Mamlutdar for my report.
The Mamlutdar accounts for the large
proportion of copper in his remittance to Dharwar by the fact that the rate of pice in the
bazar has fallen below the Government rate enabling the Ryot to purchase 48
pice for one rupee, while the Government rate is fixed at 46.
By this variation between the bazar
price and the rate at which copper is payable into the public treasury the
Government apparently loses two pice per rupee and whether the gain is the
Ryot’s or the Sowkar’s from whom he buys the money wherewith to pay his rent,
there seems no remedy so long as the present rate remains fixed at 46 pice per
Surat rupee.
But there is another and a direct loss
to Government in the expense of transporting copper over silver money. One
bullock carries usually 5000 rupees in silver and only 150 Rs worth of pice,
showing a difference of more than thirty to one in favour of silver in
transport.
The districts of Indee, Moodebehall,
Hoongoond, and Budamee lie contiguous to the Nizam’s provinces and a
considerable traffic goes on between the subjects of the two states, the pice
current on both sides [of] the frontier being the “Shahee Pice”, the Government
rate of which was altered in 1829 from 48 to 46 per Surat rupee throughout the
Dharwar territories. But the silver money from the Nizam’s side, owing to its
inferior quality, is not payable at our treasuries as the copper is; so that
sellers from our districts prefer payment in copper, and hence one cause of the
plenty that has reduced the value of pice as compared with silver, in this part
of the country…
Bombay Consultations.
P/411/51. No. 62 (17th April 1832)
Letter from the Acting Political Agent
for Kathiawar to Government, dated 3rd January 1832
In acknowledging the receipt of your
letter of the 18th October last and the 22nd ultimo, I
have the honor to inform you that as far as the tributary relations subsisting
between the Thakore of Bhownuggur and the British Government are concerned, I
should conceive that they would not admit of taking any steps beyond those of
persuasion to prevent that Chief maintaining a mint as it appears to have
existed many years before the permanent settlement was made by the late Colonel
Walker and the agreements then entered into only require the tributaries to
conform to existing usages.
A great many of the Thakore’s villages
and the capital Bhownuggur itself are however under the jurisdiction of the
Honorable Company, both revenue and judicial, and as such subject to the
Collector of Ahmadabad. This may confer on the British Government the power of
putting down the mint at Bhownuggur, but the Thakore would no doubt in that
case petition for permission to establish it in one of his independent villages
and, should we prevent his doing so, he would have great reason to complain of
this measure being enforced against him alone. Some of the Chiefs of less
consequence still being allowed to keep up their mint.
The Thakore’s Wakeel states that some
correspondence took place between Mr Rowles and the Thakore on this subject
about the year of Samvut 1867/68 (ad 1810/11) when the mint was established at
Dholers. I have desired ther Wukeel to produce any letters which may have
passed but he has not yet done so, and I therefore beg to suggest that I may be
favoured with copies of Mr Rowle’s letters to Government on this subject, which
will ebable me to form a more correct opinion. It must, I think, admit of a
question whether our jurisdiction over Bhownuggur as one of the Goga Barra
Villages, extends to the power of putting down the mint as it was established
so long before that jurisdiction seems to have been exercised either by the
Mogul, Peishwa or Gaicawar authorities to the extent it now is. The Thakore
complains much of one extension of it but in this point I beg to refer you to
Mr Blane’s letter to the chief Secretary of the 16th May 1829
handing up a petition on the subject.
When the mint for coining pice was
established at Dhollera the currency of the Bhownuggur coin was prohibited in
all our districts of Goga, Raunpor and Dhunduka. This I am informed lasted
about five years after which coining at Dhollera was discontinued and the
Bhownuggur coin became again more or less current in all the above places. A
strict prohibition of this would render the Thakore’s mint less valuable to him
and he would thereby be more easily persuaded to discontinue it.
The Chiefs who have mints in this
province value the privilege very highly, but should it be an object of
Government to introduce the Bombay coins they might perhaps be induced to
accede to our wishes by offering them a reduction in their tribute equal to the
amount they may be considered to realise from their mints. On this subject,
however, I speak with the greatest diffidence, not having made any enquiries
from the chiefs concerned on the subject, and being quite ignorant whether
putting down the mints in Kathywar would be of sufficient importance to induce
the British Government to make the pecuniary sacrifices which such a move would
no doubt render necessary.
I regret much the delay in replying to
your first letter which has been caused by the Thakore not having furnished the
information called for by Mr Willoughby and likewise by myself after Mr
Willoughby’s departure. I have therefore again written to Bhownuggur and when
the Thakore’s reply comes shall lose no time in supplying you with any further
information it may contain. But I am unwilling to detain this letter any longer
after the receipt of your communication of the 22nd ultimo as you
may think it necessary to refer the point to the Collector of Ahmadabad, who
must be acquainted with the late Mr Rowles’ proceedings on the subject, or to
favour me with copies of that gentleman’s letters to Government, and I have
therefore been obliged to content myself for the present with the imperfect
information supplied by the Bhownuggur Wukeel.
There then follows several minutes on
the subject from different people but concludes with a minute from the
Governor:
Bombay Consultations.
P/411/51. No. 69 (17th April 1832)
Minute of the Governor (Clare) dated 17th
April 1832
A full consideration of the question
leads me to think that the Bhownuggur mint should be suppressed, of the
propriety of which measure Mr Sutherland I observe entertains no doubt. The
right of coinage belongs to us as sovereigns, but as the measure will be
disagreeable to the Thakore, I would not recommend it, had I not strong reasons
for doing so. In bringing our new coinage into circulation Government has met,
is meeting and will probably continue to meet with many obstacles and those
obstacles I feel assured for what I have observed at Poona and elsewhere will
increase to a very embarrassing extent unless we overcome them by a consistent
course of decided measures steadily pursued and firmly enforced.
Bombay Consultations.
P/411/51. No. 75 (17th April 1832)
Letter from the Army Paymaster to Government,
dated 27th March 1832
I respectfully beg to bring to the
notice of the Right Honble the Governor in Council that the new copper quarter
anna pice has been issued in large quantities from this office during the last
3 months at the rate of 64 the rupee in conformity with the Government
Proclamation 13th October 1831. The shroffs, merchants and retail
dealers in the regimental bazars, and in the towns of Belgaum and Shapoor have
gradually increased the number which they demand for a rupee from those with
whom they deal and have this day raised it to seventy three.
Bombay Consultations.
P/411/51. No. 81 (2nd May 1832)
Letter from the mint committee to
Government, dated 30th March 1832
Having called upon the Acting Collector
of Ahmednuggur to report what measures had been taken in that Collectorate for
the introduction of the new copper coinage under the orders of 15th
December last, we request you will be pleased to lay before the Right Honble
the Governor in Council the accompanying excerpt of his reply dated 22nd
instant from which it appears that no further measures have as yet been adopted
and we therefore beg to submit for the consideration of His Lordship in Council
that the course which has been authorized for that district should in the first
instance be adopted in Bombay…
This was agreed.
Bombay Consultations.
P/411/51. No. 104 (9th May 1832)
Letter from the mint engineer
(McGillivray) to the mint master, dated 3rd April 1832
The Bombay mint having now been at work
for more than a year, and having during the latter months of that period been
brought to perform more than the quantity of labour which the contract of its
makers (Messrs Boulton, Watt & Co) engaged that it should execute, the
experience thus acquired enables me to determine with tolerable precision the
number of people required in each department in order to make the establishment
(what at present it is not) fully efficient for the discharge of all its
duties.
The contract of Messrs Boulton and Watt
specified that the performance of the Bombay mint should be equal to the
production of 100,000 pieces of money in a days work of 8 hours. During the
month of February last and several preceding months more than 96,000 pieces of
good money were daily struck, while copper enough for more than 100,000 pieces
was daily operated on. This performance is considerably above the contract as
it is the produce of a days work which, tho’ consisting nominally of 6 hours
is, when stoppages are considered really only 5 ½ which time, at the contract
rate of 12,500 pieces per hour is only engaged to produce about 70,000 pieces,
so that the mint has really done more work daily by 26,000 pieces than the
contractor engaged it should perform.
To enable it however to perform this
work, I have been obliged as a temporary expedient to have recourse to two
measures, both of which I consider very objectionable in such an establishment.
The first is that we have hired men from the bazar as their services were
required and made a charge for their wages in the contingent bill, but this
plan is objectionable as it is the means of introducing stranfe labourers into
the mint, whose honesty cannot be so much depended on as that of men regularly
employed.
The other measure to which I allude is
that the want of hands has compelled me to distribute all the apprentices
through the different departments for the performance of duties from which they
can learn little or nothing that can conduce to their eventual usefulness and
which duties could be performed equally well after a little practice by
labourers of an inferior class.
The consequence of this necessity is
that the beneficial instruction of these apprentices in such knowledge as they
must become possessed of before they can be considered fit to hold a situation
of any trust has for some time been suspended, nor can it be resumed until the
establishment is rendered independent of any aid from their labour and fully
efficient in itself to the discharge of all its duties.
It is for these reasons and with an
earnest wish for the correction of such evils that I have now the honor to
submit for your approval and, I hope, the sanction, of Government, the draft of
a revised establishment upon a scale which will make it fully competent in
itself to carry on the work of any copper coinage.
It is framed upon the principle of being
perfectly independent of the labour of apprentices who, until their time of
service is elapsed should in my opinion be considered as merely under
instruction. After having made a few remarks in explanation of the proposed
establishment, I shall then detail the plan which I would propose to be adopted
for educating these apprentices.
In the General department marked 1 in
the draft, little or no alteration is proposed with the exception of
transferring the millwright from the rolling department to it, to which his
services more properly belong, and adding a sweeper and additional labourer
whose pay is now always charged in the contingent bill.
In the General Workshop, to which it is
proposed all apprentices should in the first place be attached, a reduction is
proposed equal to 29 rupees. This arises from the omission of one turner, the
number specified in the list being considered sufficient.
In the Smith’s shop an increase has been
made of 11 Rs 2 Qr. This consists of an increase of pay proposed to be given to
the Head Smith, who has been a long time in the mint and is a good workman and
a steady man. I here take the opportunity of stating that I have assumed 50
rupees per month as the ultimate rate of pay to which soldier artificers or
apprentices can look forward until placed in charge of a department. At present
the former class is placed upon a salary of 38 rupees per mensum when they
frist join, and they cannot look forward to any increase of pay with length of
service. This renders them in many cases discontented. I therefore propose that
when soldier artificers first enter, their pay should be somewhat less than 38
rupees so that upon their becoming useful and qualified workmen it should ne
increased to 38 rupees and that a few suituations should be paid at the rate of
50 rupees per month, to which they might look forward on promotion in
consequence of long service, superior usefulness or good conduct.
In the Engine department there is an
increase of 11 rupees which is caused by increasing the pay of the second
engineer to 50 rupees on the principle above stated.
It is in the Rolling department, No 5,
where the heaviest work and that of most importance to the mint, is carried on,
that I recommend the principle alteration and increase be made.
As the establishment is constituted
under the present sanction, the sum allotted to this department after the
Millwright is thrown into the General one (to which his services strictly
belong) only amount to 255 Rs 2 Qr. This sum, even exclusive of any allowance
for superintendence is inadequate to the payment of the mere labourers required
in this department, and I have in consequence been under the necessity of
sometimes employing as many as 15 or 20 extra hands from the bazar.
As I consider it an objectionable
measure to admit any strange workmen into an establishment like the mint, I
propose that the number of workmen in this department shall be so increased as
to render it fully efficient, and the number of working people stated in the
accompanying draft, I have found from experience to be as few as are able to
carry on the work properly. I also propose that Robert Bishop, who has had
acting charge of this department since January 1830, and who has since that time
given great satisfaction in every respect, should be confirmed in its charge on
a consolidated salary of 110 rupees per month. He now receives of pay, 105
rupees per mensum, Viz 15 rupees for having charge of the copper hold, and an
acting salary of 90 rupees, which has been drawn from the pay of the
Millwright, whose allowance since the departure of the late Millwright (Mr
Humphreys) for England, has not been drawn. As the successor to Mr Humphreys is
daily expected, Bishop must lose this pay and would then (unless Government
sanction a salary for having charge of the rolling mill) merely draw his
allowance as a soldier artificer, and this, although I consider Bishop’s
experience qualifies him for this charge far better than any Millwright could
be expected to be until after many months practice. I have no hesitation in
stating that this charge involves the most responsible duty and hardest work in
the mint. I likewise propose that the assistant in the Rolling mill should
receive 50 rupees per month, to equalise his situation with that of smith and
second engineer and that he should have immediate charge of second rolling and
adjusting, which is an employment requiring great attention. This situation
could be looked forward to by a serving soldier artificer or clever apprentice
after time of servitude had elapsed.
The proposed arrangement will render the
rolling mill very efficient.
In the Cutting out, the increase of 36
rupees is caused by an increase of 12 rupees to the Assistant’s pay to equalise
it on the principle stated para sixth, with those of second engineer, smith and
Assistant Roller. A Viceman has likewise been allowed to assist in roughing
down in the General workshop of this department.
The other 4 departments remain much as
they did, both as to amount and division of labour.
With the establishment sanctioned as now
proposed, I have no doubt the mint will be very efficient in all its
departments, and able to carry on the current work of any coinage. In operating
on the precious metals, the only difference would be that after having been cut
out the blanks must be individually weighed and adjusted to standard, before
passing through any of the other processes. These operations will require a set
of weighers and filers, but it is the only addition that need be anticipated in
the working departments.
I have already given it as my opinion
that all apprentices should be attached in the first instance to the general
workshop, and that until the expiration of their apprenticeship, they ought to
be considered as merely under instruction and supernumerary to the
establishment. The necessity of this arrangement arises from the circumstance
that if they are in the regular performance of any duty in a working
department, they cannot be spared from it for the purpose of acquiring other
useful and necessary information.
IT has also been already mentioned that
since the mint has commenced regular work, the apprentices have been all
attached as workmen to the different departments, since which period they have
been acquiring dexterity at only one description of manual employment. Before
that time the only instruction which, as far as I can learn, had been
communicated to them was merely to practice them in the manual operations of
forging, turning or fitting, as each individual should [have] a disposition to
take readily to any or all of these employments, but no attempt had been made
to teach them any principles and (with a very few exceptions) these boys are
quite illiterate and utterly ignorant of the causes which regulate the action
or adjustment of any part of the machinery, which they see daily in operation.
It is presumed that when Government
ordered a system of instruction or apprenticeship to be organized, they were
desirous that boys should be taught enough to enable them eventually (with a
few exceptions) to perform duties now necessarily executed by a class of
qualified machinists, obtained at very great expense from Europe, for had such
not been the intention and were vacancies as they occurred to be always filled
up by procuring qualified individuals from Europe, there would be little
necessity for retaining any apprentices, because supernumerary machinists must
then be obtained to fill vacancies from unforeseen casualties, and merely
manual dexterity in turning, filing etc where qualified workmen are already
retained on an establishment, can very soon be acquired by native or Portuguese
boys for whose remuneration, even as qualified workmen in these branches, 25
rupees per month would be always sufficient.
Assuming then that it is the intention
of Government that apprentices instructed at the mint should eventually become
qualified to fill the situations held by machinists, or as engineers to steam
vessels, I have no hesitation in stating that it seems to me very improbable
the great majority of the class of apprentices hitherto received, can under any
system of instruction ever be expected to become qualified for these
situations, because from their entire want of anything approaching to
education, it is quite impossible to communicate to them any definite idea of
many things in themselves partly of an abstract nature, but which it is
necessary they should understand in order to enable them to comprehend the mode
of action and due regulation of machinery, and without a knowledge of which, it
would be idle to assert that they could ever be fit to perform the work now
done by our regular machinists, or a steam vessel engineer.
The information to which I allude is of
the following nature. In instructing boys for instance in the management of a
steam engine, it is necessary that they should understand something of the
nature of the agent whose power they are directing. They must know how steam is
generated, and understand the principle of the contrivances by which its
strength is measured. They must know the manner in which it performs its work
in the cylinder and how it is got rid of after its work is done. They must
understand the mode of action of the pump which draws off the air and condensed
vapour, as well as the operation of the common pump which draws water for
condensing steam and of the force pump which feeds the boiler but all these
points, simple as they may appear, are not to be comprehended without an
elementary knowledge of at least three branches of natural philosophy.
The knowledge necessary to the
comprehension of this species of information must be possessed by every person
who wishes to benefit by instruction in the practical management of machinery,
and tho’ in consequence of the diffusion of knowledge and superior intellectual
abilities among the labouring classes in manufacturing towns in England, it
being by them acquired almost unconsciously and without much effort, yet in
this country from the want of these advantages, it cannot be learnt unless it
be communicated by regular instruction.
Having I hope shown from the reasons
above stated that the present system of instruction is not likely to produce
useful workmen, I shall now proceed to describe the system of education which
in lieu of it I would propose to be adopted for the instruction of apprentices.
I propose that the number of boys
received in the mint as apprentices or pupils, inclusive of those received for
the steam vessels, should not exceed twelve.
That the age of these boys should not be
more than 16 nor less than 14 years.
That previous to being received as
apprentices they must be able to read English fluently, write a fair hand and
understand arithmetic as far as vulgar and decimal fractions, to ascertain
which point they ought to undergo an examination.
That during their apprenticeship in the
mint, they should go through a course of instruction of the following nature:
to be made perfect in arithmetic and to receive instruction in logarithms,
practical geometry and mensuration of planes and solids including artificers
work.
That they should be taught the elements
of plane trigonometry and mechanics including hydrostatics and pneumatics.
This course ought to be combined with
practical instruction as workmen in forging, turning, fitting and acquiring a
practical knowledge of the machinery, to effect which the first hours of the
day, vix from 9 to 12 might be devoted to study and the latter hours from 1
till 4 O’clock, to work.
As it is not probable that every boy
received will turn out a subject likely to be eventually useful, it would be
desirable that the first year of their apprenticeship should be probationary
and that at any time during that period, a boy might be discharged, who might
not turn out to be useful.
I would propose five years as the term
of their apprenticeship, for I do not think that less time would be sufficient
to enable them to become competent workmen. They ought to be engaged under
regular indentures like apprentices at home, and a certain penalty ought to be
attached to their leaving their employment without permission, or breaking
their indentures.
As the instruction they would receive
during their apprenticeship would be a very great benefit to them, they ought
to be bound down to give their services to Government at reasonably fixed rates
for some years after its expiration, but if their number should be greater than
Government has occasion for, they should be led to understand that their
apprenticeship in the mint gives them no claim to constant employment
afterwards.
With a system of education of this
description, combining what is necessary of theory with practical instruction
steadily persevered in for some years, I doubt not that several boys might be
instructed who, after they has acquired some practice and experience would
become very competent machinists or steam vessel engineers, but without
teaching a man enough theory to enable him to attach a definite idea or meaning
to the names of the different forces which he will hear described as producing
motion in a machine, I conceive it will be impossible to make him fitted for
these duties, although he may be a good manual workman and know individually
every bolt and nut in an engine.
Provided Government approve this or some
similar arrangement for the education of apprentices, the details of the plan
can be settled at a future date.
List of the Mint Establishment upon the
new scale, which it is proposed to continue as the permanent one
1.
General
Department
|
|
|
Cost |
||
|
|
|
Rupees |
Quarters |
Reas |
|
1 |
Foreman |
427 |
3 |
30 |
|
1 |
Millwright |
340 |
3 |
47 |
|
1 |
Storekeeper |
150 |
|
|
|
1 |
Accountant |
60 |
|
|
|
1 |
Clerk of the Tally |
30 |
|
|
|
1 |
Under ditto |
20 |
|
|
|
1 |
Muster Clerk & Writer |
30 |
|
|
|
2 |
Carpenters |
33 |
|
|
|
2 |
Bricklayers |
26 |
|
|
|
1 |
Belt maker |
15 |
|
|
|
2 |
Storemen |
15 |
|
|
|
4 |
Peons |
24 |
|
|
|
4 |
Summerhead Boys |
20 |
|
|
|
1 |
Overseer |
8 |
|
|
|
5 |
Labourers |
27 |
2 |
|
|
3 |
Boys |
12 |
2 |
|
|
1 |
Water Bramin |
5 |
2 |
|
|
1 |
Sweeper |
6 |
|
|
|
|
|
1251 |
|
77 |
2.
General
Workshop
|
|
|
Cost |
||
|
|
|
Rupees |
Quarters |
Reas |
|
1 |
Superintendent & Die Multiplier |
340 |
3 |
47 |
|
1 |
Die Sinker |
100 |
|
|
|
1 |
Assistant |
38 |
|
|
|
1 |
General Turner |
38 |
|
|
|
1 |
Die turner |
38 |
|
|
|
2 |
Under Die Turners |
50 |
|
|
|
1 |
Die Polisher, European |
38 |
|
|
|
1 |
Ditto, native |
6 |
|
|
|
1 |
Annealer |
25 |
|
|
|
6 |
Vicemen |
90 |
|
|
|
2 |
Boys |
9 |
|
|
|
|
|
772 |
3 |
47 |
All
apprentices to be attached to this department and any received must be
supernumerary to the establishment
3.
Smiths
Shop
|
|
|
Cost |
||
|
|
|
Rupees |
Quarters |
Reas |
|
1 |
European Smith |
50 |
|
|
|
1 |
Native Smith |
25 |
|
|
|
4 |
Hammermen |
30 |
|
|
|
4 |
Bellows Boys |
18 |
|
|
|
|
|
123 |
|
|
4.
Engine
Department
|
|
|
Cost |
||
|
|
|
Rupees |
Quarters |
Reas |
|
1 |
Engineer |
340 |
3 |
47 |
|
1 |
Second Engineer |
50 |
|
|
|
1 |
Third Engineer |
30 |
|
|
|
4 |
Lascars |
44 |
|
|
|
5 |
Stokers |
40 |
|
|
|
|
|
504 |
3 |
47 |
5.
Rolling
Department
|
|
|
Cost |
||
|
|
|
Rupees |
Quarters |
Reas |
|
1 |
Superintendent and in charge of copper hold |
110 |
|
|
|
1 |
Assistant and Adjuster |
50 |
|
|
|
7 |
Lascars to breakdown |
90 |
|
|
|
8 |
Bigaries ditto in breaking down and in annealing and
cross cutting |
52 |
|
|
|
2 |
Stokers |
14 |
|
|
|
1 |
Furnace Boy |
5 |
|
|
|
8 |
Boys for second rolling and adjusting |
48 |
|
|
|
4 |
Gaging Boys |
36 |
|
|
|
4 |
Boys for trial presses |
18 |
|
|
|
1 |
Shroff |
10 |
|
|
|
8 |
Scrubbers |
44 |
|
|
|
1 |
Boy to boil cocum |
4 |
2 |
|
|
Roller Lathe and Lap and Stone |
||||
|
1 |
Turner |
20 |
|
|
|
1 |
Lapper |
15 |
|
|
|
1 |
Lascar |
8 |
|
|
|
|
|
524 |
2 |
|
6.
Cutting
Out and Milling
|
|
|
Cost |
||
|
|
|
Rupees |
Quarters |
Reas |
|
1 |
Superintendent |
340 |
3 |
47 |
|
1 |
Assistant Superintendent |
50 |
|
|
|
1 |
Viceman |
15 |
|
|
|
2 |
Lascars |
20 |
|
|
|
9 |
Cutting out press boys |
72 |
|
|
|
1 |
Shroff |
10 |
|
|
|
4 |
Pickers |
20 |
|
|
|
1 |
Miller |
12 |
|
|
|
1 |
Assistant ditto |
8 |
|
|
|
3 |
Boys |
18 |
|
|
|
|
|
565 |
3 |
47 |
7.
Shaking,
Annealing and Pickling Depatment
|
|
|
Cost |
||
|
|
|
Rupees |
Quarters |
Reas |
|
1 |
Overseer |
50 |
|
|
|
1 |
Rough Shaker |
8 |
|
|
|
1 |
Under ditto |
5 |
2 |
|
|
1 |
Furnace Lascar |
11 |
|
|
|
1 |
Pickler |
6 |
|
|
|
1 |
Smooth Shaker |
8 |
|
|
|
2 |
Second Smooth Shakers |
11 |
|
|
|
|
|
99 |
2 |
|
8.
Picking
Department
|
|
|
Cost |
||
|
|
|
Rupees |
Quarters |
Reas |
|
1 |
Shroff |
15 |
|
|
|
2 |
Pickers |
11 |
|
|
|
|
|
26 |
|
|
9.
Coining
|
|
|
Cost |
||
|
|
|
Rupees |
Quarters |
Reas |
|
1 |
Head Pressman |
340 |
3 |
47 |
|
1 |
Assistant Pressman |
250 |
|
|
|
1 |
Under ditto |
30 |
|
|
|
1 |
Lascar |
10 |
|
|
|
1 |
Viceman |
15 |
|
|
|
8 |
Press Boys |
64 |
|
|
|
1 |
Pump Lascar |
10 |
|
|
|
2 |
Ditto boys |
9 |
|
|
|
|
|
728 |
3 |
47 |
10. Packing
|
|
|
Cost |
||
|
|
|
Rupees |
Quarters |
Reas |
|
1 |
Weigher and Packer |
25 |
|
|
|
2 |
Shroffs |
20 |
|
|
|
2 |
Assistants |
11 |
|
|
|
1 |
Gate Porter |
10 |
|
|
|
|
|
66 |
|
|
|
|
|
4662 |
2 |
65 |
The increase in the establishment was sanctioned
and the proposal for the apprentices was approved of and a more detailed plan
asked for.
Bombay Consultations.
P/411/51. No. 116 (16th May 1832)
Letter from the Acting Collector of
Revenue at Bombay to Government, dated 1st May 1832
He suggests that the new copper coins
could be distributed from the General Treasury rather than from several shops
set up around the island.
Bombay Consultations.
P/411/51. No. 135 (30th May 1832)
Letter from the Acting Advocate General
to Government, dated 15th May 1832
He states that it would be legal for
Government to declare the old copper coins not legal tender from a particular
date. He was asked for more information about this.
Bombay Consultations.
P/411/51. No. 141 (6th June 1832)
Letter from the Acting Principal
Collector in the Concan to Government, dated 18th May 1832
I have the honor to acknowledge receipt
of your letter dated the 1st instant with copy of one from the
Collector in Candeish reporting that a coinage of copper pice (Dubhoo) is in
progress at some mints near Panwell.
There are five mints for coining copper
coins in Angriah’s country and established and farmed by him. They are as
follows:
Cusba Apta 2 mints established in July
and September 1831
Mouza Kopur Turuf Ourwuleet 1
mint established in August 1830
Mouza Dar pulee Turuf Ourwuleet 1 mint established in December 1831
Mouza Gowan Turuf Ourwuleet 1 mint established in August 1831
The following statement will show the
number of coins struck off, and the distance of these places from Panwell
|
Places |
Distance from Panwell |
Amount Coined (Rs) |
|
Cusba Apta |
5 Coss |
13,000 |
|
Mouza Kopur |
1 Coss |
30,000 |
|
Ditto Dar pulee |
1 ½ Coss |
2,000 |
|
Ditto Gowan |
4 Coss |
10,000 |
|
Amounting in all to fifty five thousand Rupees, 55,000 |
||
The copper coins are represented as
being of an inferior description.
Angria has I presume the full power of
establishing mints in his territory, but it will be obvious to Government that
if his copper coins are circulated in the Provinces belonging to the British
Government that they must materially interfere with the new Government currency
as remarked by Mr Boyd’s [letter]. Measures should therefore be taken to
suppress the mints and all others which may exist in Angria’s territory, either
by directing Angria to discontinue the coinage or by prohibiting by
proclamation the receipt of the copper coins into the Company’s territories in
payment of revenue.
Resolution
The Acting Persian Secretary is
requested to write to Angria informing him that Government has been apprized of
the number of mints which have been lately established by him in the Concan,
pointing out the inconvenience which arises from the excessive issue of copper
pice from them and its importation into the Honble Company’s territory, especially
at a time when it is the intention of Government to introduce a copper currency
of a different description, and requesting that the mints may all be stopped
with the exception of such as may be necessary to supply the circulation within
his own districts.
Bombay Consultations.
P/411/51. No. 171 (11th July 1832)
Letter from the Principal Collector in
the Concan to Government, dated 29th June 1832
With reference to your letter of the 1st
instant in reply to Mr Mills’ letter of the 18th ultimo, and
directing me to issue a proclamation prohibiting the receipt in payment of
revenue of the copper pice issued from the mints established in Angria’s
territory, I have the honor to state for the information of the Right Honble
the Governor in Council that there is no difference between the Honourable
Company’s pice current, and Angria’s excepting that the latter are newly
coined, the die being the same, so that it is impossible to check the receipt
in payment of revenue. If Angria cannot be prevented coining, which however I
should think we have every right to do, it would, I respectfully beg to
observe, be advisable to require him to use another die.
No
172 - Reply
I am directed to acknowledge the receipt
of your letter dated the 29th ultimo, reporting that owing to there
being no difference between the Honourable Company’s current pice and that
coined by Angria, it will be extremely difficult to check the receipt of the
latter in payment of the revenue, and to convey to you the instructions of the
Right Honble the Governor in Council, nevertheless, to issue a proclamation as
directed in my letter of the 1st of last month, as it may have the
effect of discouraging the import into our districts of the pice coined in
Angria’s territories.
As the new copper currency is shortly to
be introduced, His Lordship in Council deems it unnecessary at the present time
either to put a stop to Angria’s mints or to request him to adopt a different
stamp.
Bombay Consultations.
P/411/51. No. 175 (18th July 1832)
Translation of a letter from Raghojee
Angria, chieftain of Colaba to Government, dated 23rd June 1832
I have received your letter dated 1st
June and (after recapitulating substance) have to state in reply that there
have been mints for the issue of copper pice established, not recently, but of
old in my state which are moved from one village to another according to the
convenience of the merchants. There has always been a constant traffic of pice
between the merchants of the British territories and those of Colaba. I have
issued orders to prevent the circulation of Colaba pice in the British
Territories and request that the Bombay Government would issue similar orders.
Bombay Consultations.
P/411/51. No. 203 (8th August 1832)
Letter from the Principal Collector in
the Concan to Government, dated 26th July 1832
…In reply I beg to state for the
information of the Right Honble the Governor in Council that it has not ceased.
One manufactury of pice is at work in Coper, 2 in Aptah, 1 in Dapewlee and one
in Gonhan…
Bombay Consultations.
P/411/51. No. 209 (15th August 1832)
Letter from mint committee to
Government, dated 25th July 1832
We have the honor to acknowledge the
receipt of your letter of the 24th instant with enclosure respecting
the disposal of about 18 lacs of foreign coins which have accumulated in the
Treasury.
We request you will be pleased to inform
the Right Honble the Governor in Council that the dies having been prepared in
the new mint bearing the inscription of the rupee now in use, in conformity with
the directions given in para 4th of the Honorable Court’s letter of
the 17th March 1829, we have the honor to submit a specimen of the
rupee struck therewith, and we are not aware of any objection to the uncurrent
coins in the Treasury being recoined in the new mint accordingly.
Memorandum by the Secretary
…In answer the Secretary with the
Governor General in his letter of the 10th February 1831, states the
following as the construction which the Governor General places on the orders
of the Court of 27th March 1829 and the course to be pursued under
them…
…”In the present state of the question
therefore, the Governor General thinks it will be best that the Mint Master at
Bombay should be directed to coin from the old impressions and issue no new
coin of any kind”
The only difference (independent of the
execution) etween the specimen coins now submitted by the committee, and the
Surat rupees struck in Calcutta and sent round for circulation in 1823 to the
amount of 30 lacs of rupees, is that the former have a plain milled edge, while
the latter are serrated or corded. Both coins have the complete impression of
the die contained on the face of the piece.
There seems no reason therefore to
consider the specimens now submitted to Government as new coins under
the meaning of the letter from Bengal and an order for the recoinage in this
form of the uncurrent money now in the Treasury may perhaps be issued.
Bombay Consultations.
P/411/51. No. 227 (29th August 1832)
Letter from mint committee to
Government, dated 27th July 1832
We have the honor to acknowledge the
receipt of your letter of the 20th instant, with copy of one from
the Acting Advocate General, and calling on our opinion on the suggestions of
that officer with regard to the measures most desirable to be adopted for
bringing the new copper currency into circulation at the Presidency.
We request you will inform the Right
Honble the Governor in Council that we cannot concur in the Advocate General’s
opinion that exchanging the old for the new coins for weight, “does not infer
any loss for Government in the transaction”, since the cost of preparing a
superior coin is at least equal to the difference of intrinsic value, not to
mention that Government would thereby depreciate their own coin. Eighty one of
the quarter annas are about equal in weight to fifty of the old pice, which are
equivalent to one rupee and, if issued at this low valuation, the object of
Government would not be attained, for the new coin could hardly ever be
expected to acquire the nominal value of 64 to the rupee, which they are
intended to bear. The new quarter anna, it should be remembered is a token
[only] but from the weights given in the margin it will be seen that the new
copper coin for this Presidency is nearly of the same weight as the
corresponding value in English copper money.
Every legal difficulty as to an
equitable exchange rate would however be overcome by Government offering to buy
up the old pice for silver and the proclamation suggested in our letter of the
30th March should be altered in this respect.
It would be desirable to render it the
interest of the shroffs who may be employed as suggested in Paragraph 8 of that
letter, to aid the views of Government by the mode of remunerating them, and
secure as far as possible the aid of persons already pursuing the trade of
shroffs. Such persons should be employed and remunerated by a small monthly
payment not exceeding perhaps 5 rupees and a per cent on the amount of old pice
which they may pay into the Treasury. When employed in this duty by Government,
they should engage to give the full exchange in conformity with the
proclamation.
Should any shroffs offer to establish
shops in the neighbourhood of those employed by Government, it might be
desirable for the Government shroffs to be withdrawn.
We would further recommend that a
premium of 5 per cent should be offered in the public proclamation for any sum
not less than rupees one hundred in pice which may be brought to the Treasury
before the expiration of two months, unless previously ordered otherwise.
It appears to us immaterial whether the
old pice be bought up with silver or with the new copper coin, provided only
that they be bought up. For in whatever way they are withdrawn from
circulation, other copper coin, viz the new quarter annas, must take their
place and the silver will return to the Treasury. It will not however be
consistent with the arrangement in the preceding paragraph to give the offer of
exchanging the new coin for silver as was proposed in the proclamation, and it
should be altered in this respect.
From the forgoing observations, His
Lordship in Council will perceive that we do not consider it desirable to
purchase the old coin at the market price of sheet copper, and it would not be
the interest of the public to accept any such offer. It may be for
consideration at a future time, whether it would be expedient to announce that
after a certain date the old coin will no longer be exchangeable at the
Treasury at a higher rate than the value of the copper.
The difficulties, if any should be
experienced, will, we are led to believe, be rather occasioned by the change
from 50 to 64 pieces per rupee in the division of the copper money, than in the
reduction of weight, but as dealers will be without remedy if they refuse to
receive payment for their goods from parties tendering it within the limited
amount in the new coin, when it shall have been duly constituted a legal
tender, we trust the inconvenience arising from this and from the non receipt
of the old coin by the departments of Government, in conjunction with the
arrangements providing facilities for equitably exchanging the old coin as
submitted in our report of the 30th March last and in this letter
will, if steadily persevered in, be found effectual.
Proposed Proclamation
The Right Honble the Governor in Council
is pleased to declare that from the the new copper coinage,
as announced in the proclamation dated 29th November 1830, is the
legal copper money of the town and Island of Bombay and no other will be
received by the public officers of Government.
A premium of 5 per cent will be given
for any sum not less than rupees 100 in good pice of the old currency which may
be brought to the treasury before the expiration of two months from this date,
unless previously ordered otherwise.
For the convenience of the public, the
Governor in Council has been pleased to cause shroffs to be employed for two
months, or until further orders, at the under mentioned places, for the purpose
of exchanging good pice of the old currency for the new quarter annas and pies,
who will give in exchange without deduction for exchanging
1 rupee (silver) for 50 pice
64 quarter annas for 50 pice
64 quarter annas for 1 rupee
3 new pies for 1 quarter anna
Places at which money will be exchanged
by Government shroffs
The General Treasury
The Civil and Marine Pay Offices
The military Pay Office
Collector’s Office
Custom House in the Fort
Custom House – Musjeed Bunder
Custom House – Mahim
NB other stations to be here enumerated when
the Collector and Sub Treasurer have made arrangements, before publishing the
proclamation
Bombay Consultations.
P/411/51. No. 228 (29th August 1832)
Minute of the Governor, dated 29th
August 1832
The Mint Committee should state whether
there is a sufficient quantity of new pice for circulation in the island of
Bombay and if there is, when the arrangements recommended by them in their
letter of 27th July can be completed and what period they would
propose to fix after when the old pice will not be received by the public
officers of Government.
They may be asked whether there would be
any objection to giving a premium of 5 per cent for a less sum than rupees 100
worth of old pice. If the same premium was offered even for so low a sum as
rupees 10 worth of old pice it would, I should think, facilitate the withdrawal
of them from the market.
The Mint Committee may also state why
they would confine the offer of a premium of 5 per cent to those only who bring
their old pice to the General treasury and whether they consider that it would
be objectionable to authorize the Government shroffs at the different stations
in the island to give the same premium.
The suggestion of the Mint Committee in
paras 4 & 5 may be approved and they should state what percentage they will
recommend to be given to the Govt shroffs on the amounts of old pice brought by
them into the treasury.
There is then further lengthy discussion
about the vacant positions in the mint and the problem of filling them with
qualified people. There is also a draft of the process to be used for acquiring
and teaching apprentices.
Bombay Consultations.
P/411/51. No. 254 (19th September 1832)
Substance of a letter from Angria,
Chieftain of Colaba, dated 30th August 1832
I have had the pleasure of receiving
your Lordship’s letter dated 4th August, requesting that I should
take measures to stop all mints but one in my territories.
In reply I beg to state that I have
issued injunctions to the managers of mints according to the answer which I
sent to your Lordships former letter.
With respect to the present letter,
though I shall suffer loss by the reduction of the number of mints, yet as I am
unwilling to do anything which might inconvenience the British Government, I
have complied with your Lordship’s request. But I request that such an
arrangement may be made that the mint which I have retained may not meet with
obstruction for the future from any public officer.
Bombay Consultations.
P/411/51. No. 259 (26th September 1832)
Letter from the Mint Committee to Government,
dated 28th August 1832
Replies to the Governor’s requests and
states:
Plenty of copper coin available to
replace the old coin in Bombay.
The date will be fixed when the blank
space at the beginning of the proclamation is filled in and the old coin should
be returned within 2 months. This could be extended if necessary.
There is no objection to giving the 5
per cent premium to sums as low as 50 rupees worth of old pice.
Bombay Consultations.
P/411/51. No. 296 (17th October 1832)
Minute of the Governor, dated 17th
October 1832
Resolved, the silver coinage in the new
mint being in progress, and a quantity of rupees having been delivered into the
treasury for circulation…
Bombay Consultations.
P/411/51. No. 315 (24th October 1832)
Proclamation, dated 24th
October 1832
The Right Honble the Governor in Council
is pleased to declare that from the 24th instant the new copper
coinage, as announced in the proclamation dated 29th of November
1830 is the legal copper money of the town and Island of Bombay and no other
will be received by the public officers of Government.
A premium of 5 per cent will be given
for any sum not less than rupees 50 in good pice of the old currency which may be
brought by individuals or the shroffs employed by Government to the treasury
before the expiration of two months from this date, unless previously ordered
otherwise.
For the convenience of the public, the
Governor in Council has been pleased to cause shroffs to be employed employed
for two months or until further orders at the under mentioned places, for the
purpose of exchanging the new quarter annas and pies for good pice of the old
currency, who will give in exchange without any deduction for exchanging
1 rupee (silver) for 50 pice
64 quarter annas for 50 pice
64 quarter annas for 1 rupee
3 new pies for 1 quarter anna
Places at which money will be exchanged
by Government shroffs
The General Treasury
The Civil and Marine Pay Offices
The military Pay Office
Collector’s Office
Custom House in the Fort
Custom House – Musjeed Bunder
Custom House – Mahim
The Principle Bazar in the Fort
The green market without the fort
Near Mumbadave
The Bazar near Jamsetjee Jeejeebhoy’s
House
Pydownee without the fort
Bhendy Bazar (near the Durga)
The bazar in the neighbourhood of the
jail
Near Musjeed Budar gate
The Bazar near the washerman Tank
Chinch Bunder
The Bazar near the slaughthouse
Kamatty Poord
Duncan Road in the Bazar
The bazar near Mr G Higg’s stable in
[Girojoun..]
The Bazar in Mazagon
The bazar in Mahim
The bazar in Colaba
Z/P/3308B – 1835 stuff about getting the
new copper coins into circulation
P328 report of mint output for 1834/35
P33/36 – mint output for 1834
P61/64 – Holkar and Scindias mints in the
area also p76/77 also 298/303