168 



CEYLON BRANCH 



pagoda or Porto Novo pagoda, the Surat and Sica rupee, &e. 

 The prices of these were all regulated by their instrinsic value 

 compared with the silver ducatoon; and keeping the exchange 

 of the Island currency to 80 stivers for each ducatoon, those 

 different coins bore a price in copper coin according to that 

 standard, 



The affairs of the Colony had become embarrassed when 

 Vandergraff was made Governor, which was 7th February 

 1785 ; and the same year he issued, for the first time in Ceylon, 

 a paper currency. This consisted of Treasury Notes called 

 Credit brieven payable to the bearer on demand, in Ceylon 

 copper coin at the rate of 48 stivers per rix-dollar. There was 

 it^seems at that time no coin for rix-dollar. : it was merely an 

 ideal one, divided into 12 fanams, and each fanam into 4 stivers. 

 On the establishment of the paper money, the Governor not 

 only made all payments in that way, but also as a further means 

 of raising a revenue, put up the gold and silver to auction, and 

 in the year 1795 the silver ducatoon which ten years before 

 had been exchanged for not more than 80 stivers each, was sold 

 at a hundred. This result arose partly from the scarcity of 

 the silver coin, and partly from the depreciation of the copper 

 coin, for in 1787 Vandergraff had caused money to be coined 

 from the brass of old guns, instead of fine copper. 



Prior to these measures, says Bertolacci, the real currency 

 was the ducatoon which contained 1 oz. 1 dwt. 1 gr. English 

 standard silver; but afterwards the copper coin became the 

 standard, and that standard was injured. This copper coin in 

 its depreciated state formed with the paper money by far the 

 greatest part of the currericy when the English took possession 

 of the settlement. 



Annexed is a representation of the silver coin of Holland 

 weighing about 24 \ grs. No. 10, as also of the following copper 



