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The Government of India made very large purchases of silver, which combined with the stimulated world-demand to drive the price of the white metal up to inordinate levels, and to keep pace with this rise and avoid an intolerable loss on the coining of rupees the rate of exchange i.e. the rate at which the Secretary of State sells "Council bills" in London was raised until it actually reached 2s. 5d. for the rupee.
Let us now glance at the cash effects of the measure on the finances of the Government and the prosperity of the people; and in doing so I shall, to aid the comprehension of the English reader who knows nothing of lakhs, or crores, or Rs. x, state the figure in pounds sterling, treating the rupee at its old value of 2s.
"I'll bet half a rupee that he don't," said Bob. "Oh, yes, he will," said Tom. "I rather like him, though. He isn't a bad sort of nigger." "Don't call the fellows niggers," said Bob impatiently; "they don't like it." "Then they mustn't call us giaours and dogs," said Tom impatiently.
The very important question then arose of the future legal ratio of the rupee to the sovereign or the £1 sterling. A Committee was appointed to advise the Secretary of State as to the best means of securing fixity of exchange under the new conditions; it took evidence in London during the year 1919 and reported towards the end of the year.
The man is called in, and succeeds in disposing of some of his wares, ribbons, laces, or silks; and the ayah, besides having obliged the lady and the pedler, enjoys a small modicum of satisfaction herself who would grudge it? in pocketing the dustôôree a discount of two pice, or half an anna on each rupee. There are ayahs of various castes.
The squadron was to have two million and a half rupees, and the same amount was to be paid for the army. Presents amounting to six millions of rupees were to be distributed between Clive, Major Kilpatrick, the governor, and the members of the council. Clive's share of these enormous sums amounted to two million, eighty thousand rupees. In those days, a rupee was worth half a crown.
This arrangement has evidently been made to suit the wealth or poverty of particular parts of the country. This seems to be rather an inconvenient system, and it is difficult to see why the lower rates of qualification should not be made universal. For all practical spending purposes in India the rupee may be reckoned at par.
He then waits for another favourable omen, when he unties the knot and takes out the rupee, which he gives to his Gooroo, with any other silver which he may have about him. The Gooroo adds some of his own money, with which he purchases what they call goor, or consecrated sugar, when a solemn sacrifice is performed, to which all the gang are invited.
The paisa is the current copper coin of India; it is the 64th part of a rupee, and is in value as nearly as possible 3/4 of our halfpenny, or a farthing and a-half. The word kafir denotes literally, "infidel," or "heathen." It is here used as a term of endearment, just as we sometimes use the word "wicked rogue." Literally, "lakhs of rupees."
'Tis no manner av use bukkin' to the Sahib, bekaze he doesn't samjao your talk. Av he bolos anything, just you choop and chel. Dekker? Go arsty for the first arder-mile from cantonmints. Thin chel, Shaitan ke marfik, an' the chooper you choops an' the jildier you chels the better kooshy will that Sahib be; an' here's a rupee for ye?
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