340 GOLD AND SILVER 



CHAP. XXVII 



changed with other commodities than in countries 

 where it was wanted to perform that office, and 

 wherever it was most wanted it would naturally 

 flow. 



It is seen by the Appendix, No. 14, that 

 within the twenty years from 1810 to 1829, the 

 treasure transmitted to Europe from India and 

 China amounted to 7,814<,388 sterling, and this 

 was almost exclusively gold. It approaches so nearly 

 to the whole amount which is here estimated to be 

 annually supplied, that it becomes natural to con- 

 sider in what manner the quantity left behind 

 could satisfy the wants of the inhabitants. The 

 quantity of coined gold is almost exclusively con- 

 fined to the territories of the East India company. 

 There both gold and silver are coined, but in pro- 

 portions very different from what is practised in 

 Europe. Thus at the mint at Madras, the value 

 of the silver to the gold that is coined is as fifteen 

 to one ; of the rate at Calcutta we have not the 

 exact proportion, but know generally that the 

 former very far exceeds the latter. 



The extension of the dominion of the East India 

 company has lessened the number and diminished 

 the splendour of the native independent princes. 

 They were the persons who used or retained the 

 greater port ion of the gold. Before our power was ex- 

 tended, the several princes were either engaged in 

 hostility or preparing for it. To them hoards of trea- 

 sure were necessary, and though gold was not the 



