You are not currently logged in.
Access JSTOR through your library or other institution:
If You Use a Screen ReaderThis content is available through Read Online (Free) program, which relies on page scans. Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Money, Prices, and Economic Development in India, 1861-1895
John Adams and Robert Craig West
The Journal of Economic History
Vol. 39, No. 1, The Tasks of Economic History (Mar., 1979), pp. 55-68
Stable URL: http://www.jstor.org/stable/2118910
Page Count: 14
You can always find the topics here!Topics: Silver, Prices, Coinage, Imports, Railway systems, Money supply, Peasant class, Economic development, Import prices, Revenue
Were these topics helpful?See something inaccurate? Let us know!
Select the topics that are inaccurate.
Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Preview not available
In the late nineteenth century, when most of the world was on a gold standard, India was on a silver standard. Silver was used for coins, held in hoards, and worn as jewelry. Regression analysis confirms a positive relationship between prices and the money supply, and inverse relationships between prices and rainfall and prices and the combined influences of railroads and commercialization. The influx of silver was not correlated with the money supply, apparently because hoarding and dishoarding by peasants and others caused the amount of money in active circulation to vary.
The Journal of Economic History © 1979 Economic History Association