The Problem of the Rupee, Its Origin and Its SolutionAmbedkar, B. R. (Bhimrao Ramji)
History
The Problem of the Rupee, Its Origin and Its Solution
Ambedkar, B. R. (Bhimrao Ramji)
Currency question -- India
“Section 20. A duty shall be levied at the rate of one rupee
per cent. at the Mint on the produce of all gold bullion and on
all gold coin brought for coinage to the Mint in accordance with
the said Mint-rules. [pg 53]
“Section 21. All silver bullion or coin brought for coinage to
the Mint, in accordance with the said Mint-rules, shall be
subject to a duty at the rate of 2 per cent. on the produce of
such bullion or coin, and the amount of such duty shall be
deducted from the return to be made to the proprietor.
“Section 22. A charge of one-fourth per mille on gold bullion
and coin, and of one per mille on silver bullion and coin, shall
also be levied for melting or cutting such bullion and coin so
as to render the same fit for receipt into the Mint.
“Section 23. All gold and silver bullion and coin brought to
the Mint for coinage, and which is inferior to the standard
fineness prescribed by this Act, or which, from brittleness or
other cause, is unfit for coinage, shall, in case it is refined,
be subject, in addition to the duty and charge aforesaid, to
such charge on account of the loss and expense of refining as
the Governor-General in Council prescribes in this behalf.
“Section 24. The Mint Master, on the delivery of gold or silver
bullion or coin into the Mint for coinage, shall grant to the
proprietor a receipt which shall entitle him to a certificate
from the Assay Master for the net produce of such bullion or
coin payable at the General Treasury.
“Section 25. For all gold bullion and coin, in respect of which
the Assay Master has granted a certificate, payment shall be
made, as nearly as may be, in gold coins coined under this Act
or Act No. XVII of 1835; and the balance (if any) due to the
proprietor shall be paid in silver, or in silver and copper,
coins current in British India.”
Public-domain text, read in full here on John Shaqi.
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