ABSTRACT
By the beginning of the early Magadhan epoch, even though the system of barter continued to be widely prevalent, regular coins had come into general circulation. Foreign commerce during the Maurya-Scythian era brought in a large quantity of specie to India, for Pliny complained about the drain of Roman coins to this country. In the Carnatic about the beginning of the eighteenth century there were about twenty-two mints under the Nawab at important commercial centres like Arcot, St. Thome and Covelong. These mints issued coins of various types but inferior in standard because of defective organization, supervision and control. Hence what engaged the serious attention of the early Governors of Madras was the rectification of the confused currency. However, frequent wars and political disorders, that came in the wake of the disintegration of the Mughal Empire. Anglo-French rivalry and incursions by Mysore and Maratha powers added to the uncertainties.
