Page:Indian Journal of Economics Volume 2.djvu/181

 MUGHAL AND CURRENCY COINAGE Pnorrsson S. V. ENKATESWARA, KUMBAKONAM, MADRAS PRESIDENCY The Metallic Currency Akbar was the founder of the Economic system of the Mughal empire. His currency policy was largely based on that of Sher Shah, but he adopted copper for l)th the money of account and the standard of value. His reason was that the fluctuations in the value of tle Irecious metals were the least remarkable in the case of copper. The ratio of silver to gold had been 8:1 in the thirteenth century, 7: 1 in the fourteenth, and 9'4:1 in the sixteenth century, whereas the ratio o! copper to silver had steadily fallen from 73 to 64:1. The metallic curveucy of the Mughal emperors consisted of gold, silver and copper. The, copper dam weighed 167 rattis  and the slver grains; 40 dams exchanged rupees for the gold toohut. account was the cheetel (= numerous co{ns o! (ntermed{a.e for one The lowest r.pee rupee, and money dam). value also in circula- 178'25 12 of There were dam at 178'25 and 828'56 grains respectively. But 8her 8hah's colas often exceed this weight. One of his dams weighed 829 grains. The stamtard of Sher Slmh was probably 180 grs. for the rupee and 176 ratils (--880 grs.) for the dam. The Akbar 8hahi rupee and dam were therefore less than 8her 8hah's in weight. (See Wright: Cttalogue of Coifis in the Indian M,leum, ealoutia, Vol. II,  1.) 22 I This weight was less than that 8her 8hah's coinage. M'. Tam.s (Ckrode, o! the Palha Kiwe o! Delhi, p.i)) e,im;es hr 8.3a'' rupee