Vol. 6 · pages 336–340

HISTORY OF INDIAN CURRENCY & BANKING By B. R. Ambedkar Sometime Professor of Political Economy at the Sydenham College of Commerce and Economics, Bombay. [Reprint of the edition of 1947]

DEDICATED TO THE MEMORY OF MY FATHER AND MOTHER AS A TOKEN OF MY ABIDING GRATITUDE FOR THE SACRIFICES THEY MADE AND THE ENLIGHTENMENT THEY SHOWED IN THE MATTER OF MY EDUCATION.

PREFACE TO THE SECOND IMPRESSION THE PROBLEM OF THE RUPEE was first published in 1923. Ever since its publication it has had a great demand : so great that within a year or two the book went out of print. The demand for the book has continued, but unfortunately I could not bring out a second edition of the book for the reason that my changeover from economics to law and politics left me no time to undertake such a task. I have, therefore, devised another plan : it is to bring out an up-to-date edition of the History of Indian Currency and Banking in two volumes, of which The Problem of the Rupee forms volume one. Volume two will contain the History of Indian Currency and Banking from 1923 onwards. What is therefore issued to the public now is a mere reprint of The Problem of the Rupee under a different name. I am glad to say that some of my friends who are engaged in the field of teaching economics have assured me that nothing has been said or written since 1923 in the field of Indian Currency which calls for any alteration in the text of The Problem of the Rupee as it stood in 1923. I hope this reprint will satisfy the public partially if not wholly. I can give them an assurance that they will not have to wait long for volume two. I am determined to bring it out with the least possible delay. B. R. AMBEDKAR Rajagraha, Bombay, 7-5-1947.

CONTENTS CHAP. PAGE PREFACE TO THE SECOND IMPRESSION 323 AUTHOR’S PREFACE 327 FOREWORD BY PROFESSOR EDWIN CANNAN 331 I F ROM A DOUBLE STANDARD TO A SILVER STANDARD 335 II T HE SILVER STANDARD AND THE DISLOCATION OF ITS PARITY 378 III T HE SILVER STANDARD AND THE EVILS OF ITS INSTABILITY 415 IV T OWARDS A GOLD STANDARD 445 V F ROM A GOLD STANDARD TO A GOLD EXCHANGE STANDARD 487 VI S TABILITY OF THE EXCHANGE STANDARD 502 VII A R ETURN TO THE GOLD STANDARD 563