ABSTRACT
THE continuous fall in the value of silver after 1870 was a matter of concern to the Indian Government. The fall was no loss to the people of India. The prices of the produce of the country, estimated in rupees, rose as the value of the rupee fell; and the export trade of India rather benefited than suffered by the depreciation of silver. The revenues of the Government also increased automatically in rupees as the rupee fell in value. The Settlement Officer raised the Land Revenue demand when he found rice and wheat selling at a higher price, estimated in rupees; the Local Cesses, assessed on the Rental or the Land Revenue, rose with the rise of rents and the revenue; and the Income Tax Assessor increased his assessments when he estimated the incomes of traders and merchants at a larger number of rupees. Officials could demand some increase in their salaries in rupees as the rupee fell; European Officials in India did eventually obtain a compensation in an invidious and objectionable shape; Indian Officials failed to get an adequate increase to their humble salaries. So far as the financial administration and the monetary transactions of India were concerned, the fall in the value of silver, as compared with gold, created no difficulties, and caused no inconvenience.
