Book of the month!

The blogger of this blog; Nilaish has lovingly authored a book on the history of Indian paper money called, "FROM RUPEES  TO PAPER PROMISE : A history of Indian Paper Money".

 

Book Title: From Rupees To Paper Promise - A History of Indian Paper Money 

Author & Publisher: Nilaish, Esq. 

Pages: 308. British Library catalogue records is available for this book. 

To buy a copy of this book please email us at: nilaish86@gmail.com

Synopsis 

BOOK TITLE: ‘From Rupees to Paper Promise’.

SUBTITLE: A history of Indian Paper Money.  

BRITISH LIBRARY CATALOUING-IN-PUBLICATION DATA: A pre-publication catalogue record for this book is available.

AUTHOR: Nilaish

BACKGROUND & PURPOSE: The history of Indian paper money is not readily available for researchers, collectors and numismatists. This book is an attempt to present a good history of Indian paper money between 1770 and 1975.

            I am a collector for past 18 years and this work is a distillation of research done on this subject, which will help collectors to understand the subject in wider sense and will help them in a just way, in their pursuit of collecting Indian banknotes. When, I was a collector it was hard to find any source available for a collector across India and elsewhere, a book of this sort!

            I decided to write a history with credible research and using proper citations. This pursuit took me to Warburg Institute (University of London) in 2011, Fellowship of Royal Numismatic Society (2011-2012), Bank of England Museum (John Keyworth), British Museum (South Asia Department), Ashmolean Museum (University of Oxford) and many other museums. With the help of these visits, I collected information and made substantial preliminary notes to write this book.

            There are pictorial catalogues printed on Indian Paper Money, which are printed but all are short lived publications and are available at very high price. It is also important to highlight that there is no book of this sort in current publication which encompasses the history of Indian banknotes with credible research.

CONTENTS SUMMARY: The book starts with background history of British rule in India. It begins with very brief history of East India Company consolidating its power in Indian subcontinent. The events are mentioned in the order of its occurrence. The Company rule reached its zeniths and later it is found that, due to outbreak of ‘sepoy mutiny’ in 1857; the company’s power was shifted to the Crown of Great Britain: Queen Victoria. However, the change in rule impacted the judicial system in India. This impact can be seen in Currency notes of British rule.

            The second chapter deals with early joint stock banks which led the foundation of banking in India. Currency notes were issued as early as 1770, however there is no currency notes which have survived earlier than 1812. It is interesting to note that Bank of Bengal was established as Bank of Calcutta in 1806. Later the charter was granted in 1809 to form Bank of Bengal by governor general in council, Lord Minto. There were other private banks, which issued notes or were in preparation of issuing banknotes in the presidency towns. These banknotes were not accepted at the government treasury but usage at public booths was allowed.  

            The third chapter deals with Presidency Banks, Bank of Bengal, Bank of Madras and Bank of Bombay. Bank of Bengal notes issues are provided with details. Bank’s setup and officers details are highlighted. All types of currency notes are listed with illustration. The facts about currency notes are given with source citations. A brief history of Bank of Bengal between 1809 and 1860 is presented. Similarly, banking history of Bank of Bombay and Bank of Madras is presented in the chapter.

            The fourth chapter deals with Currency Act of 1861. However, the main idea is to present the major reform occurred due to this act. The currency notes issuance was handed over to Government of India, department of currency management. The main proposer of the bill was James Wilson. A very interesting essay on happenings of new currency reforms are mentioned in this chapter.

            The fifth chapter deals with Uniface series issued between 1877 and 1925. The amalgamation of three presidency banks into Imperial Bank of India in 1921 is presented with its implications. The facts related with currency notes are mentioned in the book in relation to the government acts. Later due to RBI Act of 1934 resulted in formation of RBI in 1935. Later chapters are divided into governor’s timeline. A brief account of Sir Osborne Smith, Sir James Taylor and Sir Chintaman Deshmukh are given. The illustrations of currency notes issued with their signatures are also depicted. A separate chapter on Pakistan issues is also listed with picture of currency notes. A brief overview INA’s contemplated paper money, Andaman Paper Tokens and Cash Coupons are also given. Chapters on Prisoners of War coupons, note issued by Indian Princely states are also covered in this book. A very good essay on Portuguese and French India issues are also covered in this book. Last chapter deals with description of paper promise and how far that paper promise is sustainable to the public of India.

TARGET AUDIENCE: Banknote collectors worldwide, numismatists, history buffs and economics researchers.

BENEFITS TO AUDIENCE: For a reader of this book these are following benefits: a) A very good historical panorama of Indian Paper Money, b) Guide to know many historical facts regarding banknotes, and c) History with citations using Harvard Referencing style.

TABLE OF CONTENTS:

PREFACE

1 Company Raj to British Raj   

2 Beginning of Banknotes in Bengal Presidency: an introduction    

3 Presidency Bank Issues 

3.1 Bank of Bengal (1809-1860)    

3.2 Bank of Bombay (1840-1860)  

3.3 Bank of Madras (1843-1860)    

3.4 Private Banks

4 Paper Currency Act of 1861 

4.1 Government non portrait issues  

4.2 George V Portrait Issues 

4.3 Burma Issues 

5 Reserve Bank of India Act 1934   

5.1 Time of Sir Osborne Smith 

5.2 Time of J.B. Taylor

5.3 Time of C.D. Deshmukh 

5.4 Pakistan Issues    

6 Prisoners war coupons    

7 INA’s Contemplated Paper Money

8 Andaman Tokens

9 Paper Money of princely States

10 Cash Coupons 

11 Portuguese & Indo-French Issues   

12 RBI after 1950 till 1975

13 Promissory text changes why?

BIBLIOGRAPHY              

SUGGESTED READING 

 

Copyright 2015 by Nilaish, Esq.