Page:The Economic Journal Volume 1.djvu/761

Rh I have, moreover, undertaken to calculate independently the loss suffered by each coinage taken as basis between its year of ssue and the year in which it is employed for the calculation. This loss is clue to four causes--export by sea and land, hoarding, melting, and destruction. Export by Sea. With regard to the first, export by sea, the statis- tics require a little sifting. As already stated, the export of rupees i not distinguished from other coins in the Custom-house retuns. Enquiry has, however, been made, and the figures now given are, with the exception of those for the Arabian imports, believed to be rupees only. To check the Indian figures for Mauritius and Ceylon, I took the precaution of obtaining them as given by the Custom-houses of both places, and the two have been placed side by side with the Indian figures in Appendix D. It will be seen that there is a very close agreement between the two records, except with regard to the Ceylon export. As the Custom officers, both here and in hose islands, state that there is no export or import of bullion to either of these places, I have taken the highest figures, e which are the Indian, to be the most correct. The remaining figures of export or import by sea have also been taken from the Indian Financial Statistics. As those for the im- port from Arabia appeared so very high in the face of the small export, enquiry was made of the several Custom-house officers, who have reported the exact composition of this year's import to be rth dollars and �th rupees. A deduction at this rate has, therefore, been made. The Mauritius Government estimate that the circulation of rupees in that colony is 65 ]abhs. The manager o! the New Oriental Bank thinks 75 lakhs a more reason- able figure. Except for 1875-76 in the case of Mauritius, when I have taken Hauritius figures. ' 8B2