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2^nd February 1820 [1]. Bombay Consultations.

Letter from the Commissioner in the Deccan to Government, dated 18^th January 1820.

This contains a list of coins that had been paid into the treasury and also those in circulation and their relative values one to another, in the Southern Mahratta country.

8^th November 1820 [2]. Bombay Consultations.

Letter from the Commissioner in the Deccan to Government dated 18^th October 1820.

I have the honor to submit together with its enclosures, the copy of a correspondence with the Acting Principal Collector and Political Agent in the Southern Mahratta Country which has taken place in consequence of the complaints that have been preferred by the troops of the losses sustained by them in the depreciation of the currency in which they are paid.

I have instructed Mr Thackeray to make such immediate alteration to the rates at which coins are paid into his treasury as may be most likely to check the fluctuation which is experienced in the values of the currency, and I beg leave to submit to the consideration of the Honorable the Govr in Council the arguments by that Gentleman in favour of establishing a new mint, that may supersede the coinage of the old ones at Buggrekotta and Sharpore.

Several reports follow giving much more detail.

28^th May 1821 [3]. Bombay Consultations.

Letter from the Commissioner in the Deccan (William Chaplin) to Bombay Government.

I have the honor to forward for the information of the Honble the Governor in Council, copy of correspondence with Mr. Thackeray in regard to the mints and coins in the Southern Maratha Country.

In concluding our final settlement with Chintamun Row, in which the relinquishment of his mint at Shahpoor was an express condition, it became necessary to consider the best means of supplying its place, particularly as the Shahpoor rupee is also coined by the chief of Kittoor. I, in consequence, suggested to Mr Thackeray to stop the mint at Kittoor as well as Shahpoor, and instead of supplying their place by a new mint of the same coinage at Belgaum, to abandon our own mint at Bagrekotta, and establish one new mint for the whole at Dharwar.

I now submit the subject for the consideration and instruction of Government. I also beg to be favoured with their orders in regard to the plan proposed in the 10^th paragraph of Mr Thackeray’s letter.

Extract of a letter from Mr Chaplin to Mr Thackeray dated the 28^th March 1821:

In regards to the question of the mint, it occurs to me that it might be advisable to stop the three mints of Shahpoor, Bagrecota and Kettoor, and instead of them to establish one at Dharwar – our engagement with the Kittoor chief leaves this point entirely at our decision and I am of the opinion that it would not only be of no use to stop the mint at Shahpoor without also stopping that at Kittoor, but that the latter measure might prevent much discontent and jealousy on the part of Chintamun Row which he would probably feel if his mint be stopped and that of Kittoor allowed to be continued.

Letter from Mr Thackeray to Mr Chaplin dated 28^th May 1821:

With reference to your letter of 28^th March, I have the honor to submit copies of my orders and notifications respecting the mints of Shahpoor and Bagulkotah.

As the Shapoor rupee is at present to be coined at Belgaum, I trust that no great inconvenience will be felt by the merchants who used to carry their bullion to Shapoor and Kittoor. The management of the late Shapoor mint are far more respectable than those of any other mint in the Dooab. They merely coin the silver that is brought to the mint, without having any other concern in it, so that the satisfaction that they give to the owners of the silver is the best test of the integrity of the coin. This security and the rules which have been laid down, will I hope, under a [regular] superintendence, prevent any abuse in the new mint at Belgaum.

In my letter of the 7^th October last, I endeavoured to point out the evils to be apprehended from any sudden innovation with respect to the mint. Further experience has convinced me that it would be inexpedient to stop the coinage of either the Bagulkota or Shapoor rupee, until a superior currency is ready to supply their places in the markets of the Dooab. Much pains have been taken to prevent the depreciation of these coins, and the very favourable rates at which they exchange in remote and foreign bazars is the best proof of their intrinsic value – in the bazar of Sholapur the local currency is far less acceptable than the rupees of Shahpoor and Bagulkottah. If therefore we abolish these coins, before they are superseded by the natural operation of a superior currency we shall only make a blank in the circulation, which will be filled up by an inferior substitute.

I would therefore submit the expedient of continuing the coinage of the Shahpoor and Sicca rupees at Belgaum and Bagulkotah.

With respect to the expediency of re-establishing a mint at Darwar, although Darwar itself is not a place of much trade, its situation is central, it is near the large trading town of new [Hoobly?], and it is the seat of an ancient mint. The coin originally struck here was the Darwar Pagoda and as the revenue of the adjacent Talooka were formerly collected exclusively in this coin, its value was perhaps overrated. In Tipu’s time the Bahaduree Pagoda was struck at Dharwar and the general currency of this coin both here and in the Mysore would make it far preferable to the Darwar Pagoda, if it were thought advisable to re-establish a gold coinage.

There are indeed several considerations which would make it desirable to coin the Bahaduree Pagodas at Darwar – it is money of account in many parts of the district, it is more acceptable than any other coin in some of [the] countries that trade with the Dooab and its parent mint in Mysore is said [to] be losing its character for integrity. Much of the gold that supplies the mint of Mysore is carried from Goa through the Dooab, and if there were a mint to keep it here, a new channel of commerce would be opened between the district and the coast. The situation of Darwar would also be more favourable for a gold than a silver currency as the former is much more portable.

For these and other reasons, I think a mint for Bahaduree pagodas might be set up at Darwar, and tried for one year. It could at any time be stopped, it would be attended with little expense, and no inconvenience that I am aware of, and until the experiment be tried, it is difficult to judge whether it would be better to adopt the old gold coin of the place or a new silver one.

The integrity of the coin will be best supported by the kind of security noticed in the 2^nd paragraph of this letter and if the coiners are prevented from working on their own account it will be easy to check abuses in the mint.

I have much satisfaction in reporting that the measures suggested in my letter of 7^th October, although intended to operate gradually, have already produced good effects. Fewer complaints are made by the troops, and better coins come to the Treasury.

I have now one more measure to propose, respecting which I solicit early instructions as most of the evils of the currency arise from the variety of coins, it is extremely desirable that we should exclude from the Treasury, which is the great fountain of the circulation, all coins the place of which could be supplied by a better currency without loss to the Ryots or inconvenience to commerce. The Chandoree and Hyderabad rupees, so many of which flow into this district with its return trade, would be foreign coins here. If they were not naturalized in the Treasury they would hardly pass for more than bullion, and in this [shape] we should let them find their way to the mints, and not receive them as revenue. The same rule should be observed with respect to all the other inferior coins, which must return to their source, if rejected from the great channel of circulation; nor will the Ryots suffer from the restriction, if timely notice of it be published. The shroffs may at first monopolise the better coins, but they live by circulating not by hoarding money, and indiscriminate receipt of all coins at the Treasury probably enables them to speculate more prejudiciously than they could do if only the superior currency were admitted as revenue. Under the present system constant vigilance is necessary to prevent their getting possession of all the best coins, and changing it for the worst on its way to the Treasury.

To check this evil I would propose that a proclamation should be immediately published, excluding all coins from the revenues of the ensuing Fasli, except the Madras pagodas and rupees; the Bahaduree or Ikeree and Darwar pagodas, the Soortee or Bombay rupees, the Sicca or Bagulkotah, and Belgaum (cidevant Shapoor) rupees. Objections may I know be made to this measure but all that have struck me are counterbalanced by its advantages.

Ordered that copies of the above letter respecting the mints in the Carnatice be referred to the Mint Committee for their opinion and report.

14^th June 1821 [4]. Bombay Consultations.

Letter from the Mint Committee to Mr Secretary Farish.

We have the honor to acknowledge receipt of your letter of the 28^th ultimo referring for our opinion and report, the copies of one from the Commissioner in the Deccan dated the 19^th instant and of its enclosures respecting the mints in the Carnatic, as well as regarding the inconvenience there from the great variety of coins in circulation. The question of the mints we beg to reserve for a separate and more general report, but as the Collector in the Carnatic seems desirous of early instructions on the propositions contained in the 10^th & 12^th paragraphs of his letter of the 14^th ultimo, for remedying the evils arising from the variety of circulating coins, we request you will have the goodness to inform the Honble the Governor in Council, that provided a sufficient previous notice be given, the length of which may, we think, (after the cautions and judgement displayed by Mr Thackeray in former arrangements regarding the currency) be safely left to his discretion. “We are not” (to use his own expressions) “ aware of any objections to the measure that are not counterbalanced by its advantage”

19^th March 1823 [5]. Bombay Consultations.

Extract of a report from the Commissioner in the Deccan 25^th August 1823? Transferred from the Revenue Department.

Para 191. Adverting to the state of the currency, I beg leave to solicit the attention of the Honble the Governor in Council to Mr Thackeray’s observations on the subject of mints and to his former correspondence on this head, which has been already laid before Government.

192. It appears that a great improvement has been brought about by the abolition of the Kittoor and Moodhal mints and the transfer of that of Shapoor belonging to Chintamun Row, to Belgam. The exclusion also of the inferior coins from the collections, a measure which Mr Thackeray had judiciously adopted, has had the good effect of silencing also the mints of Kolapore and of the Jageers, and Mr Thackeray is of opinion that what is now chiefly wanted, is the substitution of one uniform coinage for the currency of the Belgaum and Baggrecotta mints. Mr Thackeray thinks as there is little commercial intercourse with Madras, the Madras rupee will never sufficiently supply the place of the local coins and that the difference between the current and intrinsic value of the latter, renders it expedient to establish one regular mint at Darwar.

If the Collector’s reasoning be well founded the same arguments will apply to the Bombay currency, which has little chance of reaching the southern districts in sufficient quantity to supply the demands for the circulating medium. He estimates that in three or four years all the local coins would be converted into one uniform currency when the mint might be dispensed with.

194. A coinage of half and quarter rupees is stated to be much wanted to supply an intermediate currency between the rupee and the pice.

195. The Poona mint was lately shut for some time owing to the detection of certain frauds on the part of the contractor and several complaints were made of commercial embarrassment and difficulty in consequence of its having ceased to work. It has however been again set a going. The only other mint in this part of the Deccan is that of Chandoor.

196. It is worthy of consideration whether it might not be advisable if these mints are still continued, to raise the standard of the coin to the level of the Bombay rupee and thus introduce one uniform currency. The advantages of the measures are obvious. The inconveniences I should think very few, and those of a temporary nature.

26^th April 1823 [6]. Bombay Consultations.

Letter from Mint Committee to the Financial Committee.

8^th With regard to the proposal of establishing one regular mint at Darwar for the whole of our possessions in the Southern Maratha Country, we see no material objection to the measure, providing the several cautions adverted to in the 3^rdand 6^th paras. of this report be kept in mind and that the receipts are likely to cover the charges.

This recommendation was passed to the Commissioner in the Deccan.

8^th February 1832 [7]. Bombay Consultations.

Letter from Government to the Acting Principal Collector at Dharwar, dated 1^st February 1832.

I am directed by the Right Honorable the Governor in Council to request you will reply to Mr Williamson’s circular dated the 12^th of November last calling for a report of the relative intrinsic values of the new quarter anna pieces and the old copper coins current in you collectorate.

29^th February 1832 [8]. Bombay Consultations.

Letter from the Principal Collector at Dharwar to Government, dated 8^th February 1832.

He stated that there were three types of pice current in his collectorate: the Shahee pice, the Huttee pice and the Meritch pice.

Fifteen thousand rupees worth of the new quarter anna had been received. Twelve thousand were sent to Belgaum and, of those, 10,300 rupees worth had been passed into circulation.

No circulation had yet been attempted at Dharwar, but he didn’t expect any problems.

23^rd July 1834 [9]. Bombay Consultations.

Petition from the mint contractor at Bagulcote dated 24^th June 1834.

…but within the last six months the Principal Collector according to the orders of Government has stopped our mint…