Coins In Lucknow Mus. Vol 01 [56 MB - IndianCoins.org

54diminishing consequently the productiveness of most of the sortsof bullion imported into the Company's territories and it;beingdesirable also that as much uniformity as can be establishedbetween the currencies circulating at the different presidenciesshould be introduced, consequently that an approximation of theCalcutta coins to the standard of those current at Madras andBombay should be effected, it has been resolved to rescind theprovisions of former regulations relative to the standard of thegold mohur and nineteenth sun sicca rupee, and to coin in futuremoney of the proportions hereafter to be specified." As a reduction in the value of the sicca rupee, from its beingin great measure the money of account, both in private and publictransactions, would necessarily change the terms of all existingcontracts, and might be productive of embarrassment and trouble,it has been determined to leave the rupee unaltered in this respectand ;the new Calcutta nicca rupee will consequently contain thesame quantity of fine silver as that heretofore struck ; and, beingof the same intrinsic value, will circulate on the same terms. Themint proportions of silver and gold being, it is believed, inaccuratelyestimated at present, and itbeing also desirable that an uniformityin this respect should be introduced at the three Presidencies ofCalcutta, Madras and Bombay, it has been thought advisable tomake a slight deduction in the intrinsic value of the gold mohur tobe coined at this presidency, in order to raise the relative value offine gold to fine silver, from the present rates of I to 14*861 to thatof 1 to 15. The gold mohur will still continue to pass current atthe present rate of sixteen rupees."With respect to the new coinage at the Madras mint, whichhas already been referred to, two points for consideration remainedafter specimens of the gold coins had been minted, viz., whetherthey should be left plain or milled, and whether they shouldbear the date of the year in which they were minted. Specimensof the gold coins were forwarded to Government for approval,and a letter from the Secretary to Government to the MintCommittee, dated 26th January 1819, states that " The RightHonorable he Governor in Council concurs in your opinion thatis desirable to make a difference between the impressions of theitgold and silver rupees, and also to alter the Persian inscriptionwhich those coins bear. The Governor in Council accordinglysanctions the specimens of gold coins submitted , exceptthe English denominations under the Company's arms, whichought to be omitted. The Grovernor in Council desires that thecoins may be milled, but not dated, as the shroffs might takeadvantage of the dates to impose a batta on the coinage of particularyears." The draft of a proclamation on the proposed alterationof the impression of the gold coins, submitted to Governmenton the 9th of March 1819, stated that "The Right Honorablethe Governor in Council has been pleased to resolve that theinscriptions on the gold rupee, the gold half rupee and the goldquarter rupee shall be different from those on the silver rupee,the silver half rupee, and the silver quarter rupee, and has accordinglydirected that the gold rupee shall in future be impressedon the face with the Honorable Company's arms and the words