ABSTRACT
The Company no longer exported bullion from England to India in substantial amounts. When the East India Company began to operate in Bengal, it, too, discovered that the province had much to sell, but that its people wanted to buy little. The ‘investment’ continued to be financed out of the territorial surplus until 1813, when the Company’s territorial and commercial accounts were separated. Cornwallis next took the matter up, and, after numerous and conflicting theories and experiments, by 1795 the standard ‘19th sun sicca rupee’ became legal tender throughout Bengal and all other rupees were declared to be of no monetary value. In 1790 Cornwallis had reintroduced the gold coinage which had twice been tried and abandoned by the East India Company. In 1835 the standard silver rupee became the full legal tender for the whole of British India.
