1SG0.] Asiatic Sovereigns and Paper Currency. 195 



coined money in their own houses. In this manner after a time it 

 came to pass that the distant provinces refused to take the copper 

 money and opposition began to break out on every side. At last 

 the discontent gradually spread until the copper tokens lost their 

 estimation even in the capital and its neighbourhood. The king 

 seeing this state of things began to repent of his order, and as there 

 was no help for it, he issued an order that every one who brought 

 the copper coins to the treasury, might receive gold and silver in 

 exchange. His hope was that by this means perhaps the copper 

 tokens woukl again rise in general estimation and maintain their 

 currency in commercial transactions. But the people, who in despair 

 had flung their copper tokens like stones and bricks in their houses, 

 all rushed to the treasury and exchanged them for gold and silver. In 

 this way the treasury soon became empty, but the copper coins had 

 as little circulation as ever, and a very grievous blow was given to 

 the state."* 



I have thus endeavoured to give a sketch of all that is known 

 respecting these three attempts to introduce a total change into the 

 commercial and financial ideas of the semi-civilized nations of Asia. 

 Oriental historians alas ! have only eyes for battles and court-shows, 

 — the condition of the people and the progress of ideas lie entirely 

 out of the range of their observation ; and hence all that we learn 

 from them respecting these schemes is disappointing and barren. In 

 two of the instances mentioned, Persia and India, the experiment 

 immediately failed ; for the circumstances under which it was tried 

 were eminently unpropitious to its success. The reigning monarchs 

 were, the one an impotent, the other a furious, tyrant ; the state was 

 suffering all the evils of concpiest and despotism ; and the only aim 

 of the monarchs in introducing the scheme at all, was to rob their 

 subjects the more easily. It was welcomed as a new engine to wring 

 their gains into the treasury, — that the Sultan's round of extrava- 



* Though not strictly bearing upon the question, I cannot refrain from 

 alluding to the history of the water-carrier who saved Humayun's life at Chonsa. 

 He wa3 rewarded by sitting on the imperial throne for half a day. He employed 

 his brief reign in providing for his family and friends ; and to commemorate it, 

 he had his beestie's skin cut up into leather rupees whicli were gilt and stamped 

 with his name and the date of his reign as sovereign prince ! 



