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 |