Presentation Title: The Silver Crisis in India
Section: Market Effects I
Location: McCardell Bicentennial Hall, 338
Date & Time: Friday, April 19, 2013 - 9:15am - 9:30am
Colonial India experienced the first tremors of the global silver crisis (1870 â€“ 1900) in 1876. The effects of the falling gold value of silver impacted various groups within British India. The Government of India and its salaried officials faced increasing financial strains due to the depreciation of the rupee in sterling value. The Anglo-Indian mercantile community became increasingly agitated as volatile business conditions persisted. Despite such difficulties, a policy measure to counter the vagaries of the silver crisis was not implemented until the 26th of June 1893. Attempts at currency reform in 1878, 1881 and 1886 were unsuccessful, having failed to overcome laissez faire arguments for non-intervention and/or because these proposals conflicted with British interests. My talk will examine how the simultaneous fulfillment of certain criteria was necessary for the successful legislation of Act VIII of 1893.
Type of Presentation: Individual oral
Presentation Area: History
Number of presenters:
Presenter(s): Menon, Anil R.
Major(s): History; Economics
Class Year(s): 2013
Sponsor(s): Barrow, Ian J.