194 Asiatic Sovereigns and Paper Currency. [Xo. 2, 



and silver monej' - in exchange.* In such quantities was the copper 

 carried to the treasury that there were heaps of it in Toghlakabad 

 like mountains, while immense sums passed out from the treasury in 

 exchange for it, and this was one great evil which fell upon the state 

 from this measure. And again since the Sultan's edict had failed in 

 bringing the scheme to pass, and the copper tokens had only ab- 

 sorbed a large portion of the revenue, the heart of the Sultan became 

 more and more alienated from his subjects." 



Ferishta's account is based upon that of Zfa Barni, but as he 

 supplements it from other authorities, it may not be uninteresting 

 to subjoin it. I may remark that neither of the historians gives us 

 any date for this measure ; it probably took place in the middle of 

 Muhammad's reign, but it is rather singular that Ibn Batuta, who 

 spent some years in his court and has given copious anecdotes of his 

 generosity and tyranny, should have omitted all mention of the 

 project. 



" The history of the issuing the copper goldf is as follows : — • 

 " When the king desired, like Sekander, to conquer the seven 

 regions, and his pomp and treasury would not suffice to meet all his 

 demands, in order to attain his object, he invented a copper currency, 

 and issued orders that just as in China a paper gold is current, so 

 too in Hindustan they should coin copper gold in the mint, and make 

 it pass current instead of silver or gold money, and employ it in all 

 buying and selling. Now the Jau ( j^ ) of China is a piece of paper 

 on which is written the name and title of the king, and the people 

 there use it commonly instead of silver and gold. But this 

 measure did not succeed in Hindustan. The Hindus in the empire 

 brought immense quantities of copper to the mint and obtained^ in 

 this way lakhs and crores of stamped coins, and having purchased 

 goods and arms, sent them to foreign countries and sold them there 

 for silver and gold. The goldsmiths also forged the royal stamp and 



* I cannot explain the words which follow this ^Sj^ J ,^&£w« j. They 

 would seem to mean " by sixes and twos,"— can this refer to the rate of exchange ? 

 More probably, however, they are the names of gold or silver coins. 



t I have given a literal version of the printed edition, as General Briggs' 

 translation, generally so excellent, is here unusually wide of the original. 



% General Briggs adds " by a bribe to the officers." 



