INTRODUCTORY NOTES - v
the exchange value of the rupee to as. 4d., and then innoduee a gold
standard (though not necessarily . gold currency) a5the rate of F.S. 18
= £ r. : This policy has been completely success(al. From 1899 on.
wards the value of the rupee bas been maintained, with insignificant
fluctuations, at the proposed rate of n. ;d.; and consequently siesta
that date three rupees have bee, equivalent to two rupees before 1873.
For the intermediate period, between 1873 and 899, it is manifestly
impossible to adopt any fixed sterling value for a consramly changing
rupee But since ,899,.9' it is desired 1. convert rupees intosterling,
not only must the final cipher, be struck off (as before x873), but
also me- third must be subtracted from the result. Thus Rs. 1,000
Another matter in comexion with the expres n of money state.
moms in term. of rupees requires to be explained The method of
umericN notation in India differs from that which prevails through.
out Europe. I_ge numbers are not punctuated in hundreds of thou.
sands and millions, but in lskhs and bmres:. A lakh is one hundred
thousand (written out as t, .. ), and a croie is one hyndred lakhs
or to, millions (written out a 1,oy,po,ooo} Consequently, accord-
ing to the exchange value of the rupee à lakh of rupees (Rs. 1,oq,coo)
may be read as the equivalent of £1o,00o before 1873, and se, the
equivalent of (about) £6,667 after x899; while a croie of rupees
(Rs. oo) may similarly be read as the equivalent of
£t,ooo ~o before t873, and as the equivalent of (about) £666,66y
Finally, it should be mentioned that the rupee is divided into
16 ennas, a fmcdm commonly used for many purposes by both
natives and Europeans. The arms was formerly reckoned as rid.;
it may now be considered as exactly corresponding to 1d. 'The
arms is again subdivided into rs pies.
The v s 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
IdadrasandBombay,maybethusexpressed: o .nd=goseers;
one seer= a6 chittaks or So Was. The actual weight of a seer
varies greatly from District to District, and even front village to
village; but in the standard system the lola is r 8o grains 'troy
(the e act weight of the rupee), .and the seer thus weighs 2-057 lb.,
and flu, mound 82-x8 lb. This standard is used in official reports
and throughout the Gerether.
For calculating retail prio s, the universal custom in India is to
express them in terms of se s to the rupee. Thus, when prices
change, what varies is not the amount of money to be paid for the