INTROD UCTOR Y XOTES
the exchange value of the rupee to is,, 4d., and then introduce a gold
standard (though not necessarily a gold currency) at the rate of Rs. 15
£1.: This policy has been completely successful. From 1899 on-
wards the value' of the rupee has been maintained, with insignificant
fluctuations, at the proposed rate of 1s. 4d. ;::and consequently since
that date three rupees have been equivalent to two rupees before 1873,
,For the intermediate period, between 1873: and 1899, it-is manifestly
,impossible to adopt any fixed sterling value for a constantly changing
rupee. But since 1899, if it is desired to convert rupees into sterling,
riot only must the final cipher be struck off. (as before 1873); but
'also one-third must be subtracted from, the result. Thus. Rs: 1,ooo
£roo- = (about);:£67.
Another mAtter in connexion with the expression of money- state-
ments in terms of rupees requires to be explained. The method'of
numerical notation in India differs from that which prevails through
'out Europe: ]Large numbers are not punctuated in hundreds of thou-
sands and millions, but in lakhs and crores. A lakh is one hundred
thousand (written out as T,oo,ooo), and a crore is one hundred lakhs
or ten millions (written out as r,oo,oo,ooo). Consequently, acçordR
ing to the exchange value of the rupee, a lakh of rupees (Rs. 1,oo,ooo)'
may be read as the equivalent of £ro,ooo before 1873, and as the
equivalent of (about) £6,667 after x899; while a crore of rupees
(Rs. 1,oo,oo,ooo) may similarly be read as the equivalent of
£1,ooo,ooo before 1873, and as the equivalent of (about) £666,667
after 1899.
Finally, it should be mentioned that the rupee is divided into
16 annas, a fraction 'commonly used for many purposes, by both
natives and Europeans. The anna was formerly reckoned as 1 jd.
'it may. now be considered as exactly corresponding to 1d.- The
anna is again.subdivided into,l2 pies.
The various systems of weights used in India combine uniformity
of scale with immense variations in. the weight of units. The scale
used generally throughout Northern India, and less commonly in
Madras and Bombay, may be thus expressed: one maund = 40 seers;
one seer = 16 chittaks or 8o tolas, . The actual weight of a seer
varies greatly from District to District, and even from village to
village; but in the standard system the tola is 180 grains Troy
(the exact weight of the rupee), and the seer thus weighs 2•057 lb.,
and the maund 82•28 lb. This standard is used in official reports
and throughout the Gazetteer.
For calculating retail pricess the universal custom in India is to
express them in terms of seers to the rupee. Thus, when prices
change, what varies is not the amount of money to be paid for the
is t .
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