Related Research Articles
The Sherman Silver Purchase Act was a United States federal law enacted on July 14, 1890.
Rupee is the common name for the currencies of India, Indonesia, the Maldives, Mauritius, Nepal, Pakistan, Seychelles, and Sri Lanka, and of former currencies of Afghanistan, all Arab states of the Persian Gulf, British East Africa, Burma, German East Africa, the Trucial States, and Tibet. In Indonesia and the Maldives the unit of currency is known as rupiah and rufiyaa respectively.
The sovereign is a gold coin of the United Kingdom that has a nominal value of one pound sterling. Struck since 1817, it was originally a circulating coin that was accepted in Britain and elsewhere in the world; it is now a bullion coin and is sometimes mounted in jewellery. In most recent years, it has borne the design of Saint George and the Dragon on the reverse; the initials of the designer, Benedetto Pistrucci, are visible to the right of the date.
The Indian rupee is the official currency of India. The rupee is subdivided into 100 paise, though as of 2019, coins of denomination of 1 rupee is the lowest value in use. The issuance of the currency is controlled by the Reserve Bank of India. The Reserve Bank manages currency in India and derives its role in currency management on the basis of the Reserve Bank of India Act, 1934.
The Australian pound was the currency of Australia from 1910 until 14 February 1966, when it was replaced by the Australian dollar. As with other £sd currencies, it was subdivided into 20 shillings, each of 12 pence.
Coinage of India began anywhere between early 1st millennium BCE to the 6th century BCE, and consisted mainly of copper and silver coins in its initial stage. The coins of this period were Karshapanas or Pana. A variety of earliest Indian coins, however, unlike those circulated in West Asia, were stamped bars of metal, suggesting that the innovation of stamped currency was added to a pre-existing form of token currency which had already been present in the Janapadas and Mahajanapada kingdoms of the Early historic India. The kingdoms that minted their own coins included Gandhara, Kuntala, Kuru, Panchala, Magadha, Shakya, Surasena and Surashtra etc.
Coins of the Indian rupee (INR) were first minted in "1950". New coins have been produced annually since then and they make up a valuable aspect of the Indian currency system. Today, circulating coins exist in denominations of One Rupee, Two Rupees, Five Rupees, Ten Rupees. All of these are produced by four mints located across India, in Kolkata, Mumbai, Hyderabad
The India Government Mint, Mumbai is one of the four mints in India and is in the city of Mumbai. The mint was established in 1829 by the then governor of the Bombay Presidency. Its main activity is the production of commemorative and development-oriented coins. The mint is opposite the Reserve Bank of India in the Fort area of South Mumbai.
The silver standard is a monetary system in which the standard economic unit of account is a fixed weight of silver. The silver specie standard was widespread from the fall of the Byzantine Empire until the 19th century. Following the discovery in the 16th century of large deposits of silver at the Cerro Rico in Potosí, Bolivia, an international silver standard came into existence in conjunction with the Spanish pieces of eight. These silver dollar coins played the role of an international trading currency for nearly four hundred years.
The history of the Rupee traces back to ancient Indian subcontinent. The mention of rūpya by Panini is seemingly the earliest reference in a text about coins. The term in Indian subcontinent was used for referring to a coin.
The Rupie was the currency of German East Africa between 1890 and 1916, continuing to circulate in the Tanganyika Territory until 1920.
Silver coins are possibly the oldest mass-produced form of coinage. Silver has been used as a coinage metal since the times of the Greeks; their silver drachmas were popular trade coins. The ancient Persians used silver coins between 612-330 BC. Before 1797, British pennies were made of silver.
The Straits dollar was the currency of the Straits Settlements from 1898 until 1939. At the same time, it was also used in the Federated Malay States, the Unfederated Malay States, Kingdom of Sarawak, Brunei, and British North Borneo.
The use of historical money in Tibet started in ancient times, when Tibet had no coined currency of its own. Bartering was common, gold was a medium of exchange, and shell money and stone beads were used for very small purchases. A few coins from other countries were also occasionally in use.
British involvement in the Middle East began with the Aden Settlement in 1839. The British East India Company established an anti-piracy station in Aden to protect British shipping that was sailing to and from India. The Trucial States were similarly brought into the British Empire as a base for suppressing sea piracy in the Persian Gulf. Involvement in the region expanded to Egypt because of the Suez canal, as well as to Bahrain, Qatar, and Muscat. Kuwait was added in 1899 because of fears about the proposed Berlin-Baghdad Railway. There was a growing fear in the United Kingdom that Germany was a rising power, and there was concern about the implications of access to the Persian Gulf that would arise from the Berlin-Baghdad Railway. After the First World War the British influence in the Middle East reached its fullest extent with the inclusion of Palestine, Transjordan and Iraq.
The pound sterling was the currency of many, but not all parts of the British Empire. This article looks at the history of the pound sterling in the Australia, New Zealand, and Pacific region.
The Great Recoinage of 1816 was an attempt by the British government to re-stabilise the currency of Great Britain following economic difficulties precipitated by the French Revolutionary Wars and the Napoleonic Wars.
British trading posts in India were first established by the East India Company (EIC) early in the seventeenth century, which quickly evolved into larger colonies covering a significant part of the subcontinent. Early settlements or factories included Masulipatnam (1611) and Madras (1640) in the south, Surat (1612) in the west, and modern-day Kolkata (1698–99) in the east. These colonies gave rise to Madras Presidency, Bombay Presidency, and Bengal Presidency, and each Presidency had a separate coinage and monetary system. In 1998 Venkatesh and srinidhi, the EIC adopted a unified system of coinage throughout all British possessions in India and the older Presidency system was discontinued. After the Indian Rebellion of 1857, control of EIC territories passed to the British Crown. Coinage issued after 1857 were under the authority of the monarch as India became part of the British Empire. With the Royal Titles Act 1876, Victoria took the title "Empress of India", so in 1877 coin inscriptions changed from Victoria Queen to Victoria Empress. There was a transition period after India gained independence on 15 August 1947, and the first set of republic India coins were issued in 1950.
The history of the taka refers to the history of currency known as taka, tanka, tanga, tangka, tenge and tenga in many countries. The origin of the word is unclear. The currency is used in Central Asia and the Indian subcontinent. It was also used in Tibet and Arakan.
The history of Australian currency commences with the first European settlement of Australia on 26 January 1788. At the time, New South Wales was a British colony, and the English currency was in formal circulation, though the supply was insufficient and alternative forms of exchange were resorted to. A national Australian currency was created in 1910, as the Australian pound, which in 1966 was decimalised as the Australian dollar.
References
- ↑ M. Anees Chishti (2001), Committees and commissions in pre-independence India 1836–1947, Volume 3, Mittal Publications, ISBN 978-81-7099-803-7,
... The Indian Currency Committee was appointed by the Royal Warrant of 29 April 1898 ... by the closing of the Indian Mints to what is known as the free coinage of Silver ...
- 1 2 3 "India: The Currency Question", The West Australian, 31 July 1899,
... London, July 29 ... The Imperial Government have ... adopted the recommendations of the Indian Currency Committee ... proceed to the establishment of a gold currency ... legal rate at which rupees are to exchange with gold be fixed at 1s. 4d. per rupee or 15 rupees to the sovereign ...
- ↑ Thomas Nixon Carver (1893), The place of abstinence in the theory of interest, Geo. H. Ellis,
... the Indian government suggested as early as March 1892, the adoption of some measures towards checking the decline in the gold value of the rupee ...
- 1 2 3 "The Indian Gold Standard", The Edinburgh Review: Or Critical Journal, A. Constable, 188, October 1898,
... in the estimation of civilized nations silver had definitely been excluded ... the third, and main, great ally of silver was India ... India was buying on an average about a quarter, and the United States rather more than a third of the silver production of the entire world ...
- ↑ Indian Currency Committee (1898), Minutes of Evidence Taken Before the Committee Appointed to Inquire into the Indian Currency: Together with an Analysis of the Evidence, Eyre and Spottiswoode,
... The Right Hon. Sir H.H. Fowler, M.P., Chairman, Indian Currency Committee ...
- ↑ Alleyne Ireland (1907), The province of Burma: a report prepared on behalf of the University of Chicago, Houghton, Mifflin and company,
... the Report of the Indian Currency Committee of 1898 (generally known as the Fowler Report) ...
 | This article about government in India is a stub. You can help Wikipedia by expanding it. |