'REPORT ON THE ADMINISTRATION OF THE BOMBAY PRESIDENCY FOR THE YEAR 1903-1904' [‎103r] (93/112)

CURRENCY.
h
1903-1904.]
Deposits and Advances %
69 Chap. V.
FINANCIAL
REVIEW.
4. Receipts were Rs. 5,18^92,126 and outgoings Rs. 2,14,30,660. The excess in receipt Departmental and
was due chiefly to the adjustment of the net profits on silver coinage to the credit of the Gold Judlcial Deposits.
uncial
Reserve Fund.
5. Under
(Rs. 3.81,039)
Imperial Advances the excess in receipts (Rs. 14,54,276) over outgoings
was due to large recoveries from Native States on account of loans made in
Imperial Advances.
du ?H H
■ ent . s Net;
levi ous year,
nen t ofamto
previous years.
6. Under Provincial Advances receipts were Rs. 49,59,601 and outgoings Rs. 17 22,665. Provincial Advances
The excess in receipts was chiefly due to large recoveries in consequence of the improvement in
the agricultural condition of the people.
7. A detailed account of Excluded Local Funds will be found under the section on Excluded Local
Local Funds. . I '“ d8 -
llemittances.
fowaKa*
0 the heavy if
5 head.
28,393), |
(Rs. 61$!
8. Under the head of Remittances the most noticeable point is the excess of outgoings Remittances,
over receipts in the following heads. Under “ Marine ” receipts were Rs. 5,53,706 and outgoings
Rs. 50,77,884, the excess being due to large expenditure on account of transports to Somali
land. Under Military v receipts were Rs. 15,97,840 and outgoings Rs. 4,23,79,691, the
excess being due to heavy expenditure. In the remittance account between England and India
receipts were Rs 6,84,35,b’15 and expenditure Rs. 6,94,61,660, the excess being due to gold
shipped to England and an improvement in the Postal and Money order transactions.
2. Mint-
For details see tables under XV—Mint and Coinage—appended to the Financial and Commercial Statistics
of British India.
inams and fe
he assesstn*
o theabolii
e construct®
to the fact
4
ions year.
demand for
head ofchaijt
les to tbe 1
die heavier
■ of serum it
ue to tbe o®
he books o!
467. W
ited and p\
Law and *
itical (Rs. ^
1. The value of gold bullion and coin tendered by the public in exchange for rupees Indian silver coin also widely used in the Persian Gulf. bullion,
amounted to Rs. 4,57,39,606 in value as compared with Rs. 3,23,23,056 in the previous year.
2. Silver bullion, consisting of London and American bar silver and Mexican Dollars Silver bullion,
received from England and purchased locally, invoiced at Rs. 5,14,60,231 was brought to account
duiing the year. In addition to the above, silver of the invoice value of Rs. 1,10,83,741 was
railed to the Calcutta Mint. The amount of uncurrent Government silver coin received for
recoinage was Rs. 1,26,18,479. East India Company’s coins known as Arcot Rupees Indian silver coin also widely used in the Persian Gulf. of the value
of Rs. 15,376 were also remitted to the Mint. The recoinage into Government rupees Indian silver coin also widely used in the Persian Gulf. of the
silver currencies of the Native States of Indore, Sirohi and Khairpnr was carried out under
arrangements similar to those previously adopted in the case of other Native States. The
exchange value of the remittances of Indore, Sirohi and Khairpur coins received for conversion
was Rs. 5,94,427, Rs. 6,78,755 and Rs. 1,54,255 respectively. The value of the silver bullion
tendered bv the Exchange Banks for coinage into British Dollars and brought to account was
Rs. 56,57,561. The marked shrinkage in the tenders of bullion for this coinage is mainly
attributable to the legislation in connection with the currency of the Straits Settlements. The
value of British and Mexican Dollars received from the Colonial Secretary, Singapore, for
recoinage into Straits Settlements Dollars and brought to account was Rs. 4,26,92,952.
3. 9,63,04,916 Rupees Indian silver coin also widely used in the Persian Gulf. were struck during the year for the Government of India and for Silver coinage,
the three Native States previously referred to. The coinage of British Dollars on behaif of
tenderers of silver bullion amounted to 3,955,647 pieces and that of Straits Settlements dollars
on behalf of the Colonial Secretary, Singapore, to 15,009,891 pieces.
4. The revenue from all sources w*as Rs. 3,23,37,940, which includes Rs. 3,17,31,647, being Revenue and
the profit on the silver purchased during the year for coinage into Government rupees Indian silver coin also widely used in the Persian Gulf. . ^ The ex P enc lture *
total expenditure, including pro fonnd charges to the amount of Rs. 3,06,6^9, was Rs. 14,02,456,
or less by Rs. 96,285 than that of the preceding year.
3. Currency.
For details see tables under XIV— Paper Currency—appended to the Financial and Commercial Statistics
of British India
juntan^
sareiD^
ts, N
to Es. 2 "
o a«0»»
Rs. IW
I—Presidency Circle.
1. The average monthly net circulation of currency notes rose in value from 815 to 912 Circulation.
Bkhs. The cause of this increase was the financial prosperity of the year. The net^circulation
of notes of Rs. 100 and below in value exceeded in each month the circulation in the cor
responding month of the previous year. The circulation of notes of Rs. 500 and over in value
was also higher than in 1902-1903. In the cold season it began to decline owing to the demand
for coin to finance the crops, but heavy imports of gold caused it to rise again till it reached
its highest point in February. The daily average number of Home Circle notes received from
and issued to the public showed further increases of 67 and 1,130 respectively. The value of
Foreign Circle notes encashed rose slightly to Rs. 2,66,27,380, the increase being in notes of the
Calcutta, Allahabad, and Madras Circles, those of all other Circles showing a decrease.
2. Defaced coins withdrawn from circulation numbered 8,779 as compared with 11,^00 Coins withdrawn,
in the previous year.
3. Receipts of small silver coin declined by Rs. I’SQ lakhs One lakh is equal to one hundred thousand rupees to Rs. 7*58 Mkhs, while Small silver com*
issues rose by Rs. 5*01 lakhs One lakh is equal to one hundred thousand rupees to Rs. 21*31 lakhs One lakh is equal to one hundred thousand rupees ,
b 910—18