OCT. — DEC. 1856.] Notes on Indian Currencies. 31 
Mills in his history of British India supports this inference, 
(though he entirely disbelieves that the people of Hindostan were 
in remote times profusely supplied with gold and silver, as proved 
he argues, by the traffic of India being chiefly one of barter and 
its taxes being paid in kind,) where he says " It was not till 
" the time of Akbar that gold or silver wa's coined for circulation 
" in the principal parts of India, antecedently to that period small 
" pieces of copper being the only coin," ^o which in a note is added 
" — See the analysis of Tooril Mufl's system of Finance in British 
" India analysed — 1. p. 1^1. These copper pieces were called 
" siah or feloos^ 16 of which were reckoned equal to a Tankah 
" of bare silver, a sort bf coin or rather medal sometimes struck 
" at the pleasure of the King* not for use but to make presents to 
" foreign ambassadors and others. In the Deccan, a gold and 
*' silver coin was known earlier ; which the same author thinks 
" must have been introduced by the intercourse of the Persians 
*' and Arabians, to whom the use of the coin had been known 
" nearly a 1,000 years before." 
But I agree with Mr. Elphinstone that the coinage of gold and 
silver must have been very general throughout India long ante- 
rior to Akbar's time, and was probably derived from the Greek 
colonies in Bactria, two or three centuries B. C, though it is not 
unlikely that with the precious metals as their standards of value 
the general circulation consisted of a cheaper money. One can 
understand that much more use would be found for tokens of cop- 
per and such media, as better suited to the wants of the people 
and to answer the purpose of a subsidiary coinage. 
Stavorinus in his voyage to the East Indies (vol. I. p. 401) from 
1768 to 1771 mentions that, " copper coin is not seen in Bengal. 
" For change they make use of the small sea shells called cowries, 
" 80 of which make a poni and 60 or 65 ponis, according as there 
" are few or many cowries in the country, make a rupee. They 
" come from the Maldive islands. The money changers sit upon 
*' all the bazaars with quantities of them to furnish the lower or- 
*' ders with change, for the purpose of necessaries." Again, 
