oriental commerce. 



137 



Remarks on the Coins of Bumhay. 



Silver. — The old Bombay rupee is the same as was coined at Sural 

 under the Mogul Government. It weighed 178.314 grains, and contained 

 1.24 percent, of alloy. By an ancient agreement with the Nabob of Surat, 

 the rupee of both Governments was to circulate through both at an equal 

 value ; while they mutually pledged themselves to keep up the coin to its 

 exact standard of weight and fineness. The Nabob, however, did not keep to 

 this agreement; for his rupees were found soon afterwards to contain, instead 

 of 1.24 percent, of alloy, no less than 10,12, and even 15 percent. The 

 consequence of this was, that all the Bombay rupees were carried to Surat to be 

 recoined. This mint was entirely stopped in its silver coinage for more than 

 twenty years, and the circulation of silver was occupied by the Surat rupee. 



In this situation of things the merchants could not aflbrd to coin their 

 bullion here, and therefore Bombay was long without a silver coinage of its 

 own ; when Government in 1800 ordered the Surat rupee to be struck in 

 this mint, and since that time the rupee lias been kept at an equal value in 

 both mints. In both the silver rupee weighs 179 grains, and contains 7.97 

 per cent, of alloy. 



Gold. — In the year 1774 the gold mohur was made of the same weight 

 as the silver rupee. It was ordered to be of the fineness of a Venetian, and 

 to pass for 15 silver rupees. In this coinage, therefore, 14.9 grains of silver 

 represented one grain of gold; for such is the proportion between the 

 quantity of gold in this gold mohur, and the silver in 15 old Bombay rupees. 

 When the Surat silver currency had occupied the circulation, this proportion 

 between gold and silver was quite destroyed; so that gold coined according 

 to Regulation of 1774, was now exchanged for no more than thirteen times 

 its weight in silver, and often for much less. 



In order to remedy this, and to bring back the coins of gold and silver 

 to nearly their ancient proportion*, and their relative value in the market, 

 it was ordered in 1S00, that the gold mohur should be of the same weight 

 as the silver rupee, that it should contain the same quantity of alloy, and 

 that it should pass for 15 rupees. 



The present weight, fineness, and sterling value of the gold and silver 

 rupees of Bombay are as follow, according to the new money system: — 





Grain* pure. 



Gralia Alloy. 



G raj us awm 

 WdgliL 



Value, 

 £ ». p. 



Silver Ruprai 



\W\M\ 



14.32 

 14.32 



179 

 179 



0 1 H 



From the following recent official report from the Bombay Assay Office, 

 the value of the coins current at Bombay, or imported from other parts, may 

 be ascertained with little difficulty, and with perfect accuracy. 



