"تقرير عن إدارة رئاسة بومباي لسنة ١٨٨٨-١٨٨٩." [ظ‎‎١‎٠‎٤] (٤٥٦/٢١٥)

TMhitf
Chap. V.
FINANCIAL
REVIEW.
144 BOMBAY ADMINISTRATION REPORT.
[1888.89.
There was thus a decrease as compared with the previous year in the number f
of all denominations except those of Rs. 5 and Rs. 10,000 in circulation on 3lsf M °f note s
and a decrease of Rs. 23,59,225 in the total value. arc ^ -^9
The gross circulation in lakhs of rupees on the last day of each month in the n
years, after deducting the balance held in notes in the Branch Reserve Treasure ^ Wo
below : * 1 JO is shown
~y
Coinage.
Agencies.
Months.
1887-88.
1888-89.
Months.
Lakhs.
Lakhs.
April
413
478
October
May
410
498
November
June
404
553
December
July
467
448
January
August
446
502
February
September ...
498
482
March ...
1887-88.
Lakhs.
609
595
531
506
440
505
Lakhs.
446
418
396
416
402
441
The principal fluctuations were in the circulation of notes of high values. These
due partly to trade fluctuations; but in all months except June to October the fluctuatT^
were found to vary exactly with the balance at the head office of the Bank of Bomba 11 - 8
This balance was affected in the earlier months by operations connected with the Government
balances and in the later months chiefly by trade transactions. The large increase in the
circulation in June was owing to a slack demand for money, the Banks holdino- laro’ 6
balances in anticipation of the Government loan, while the fall in July was owing 3 to the
withdrawal of money from the Banks consequent on the opening of the loan The
fluctuations in August and September were also chiefly due to the loan operations
From October tb the end of the year the trade demand for money accounts for the
fluctuations in circulation as compared with that of the previous year. This demand
began much earlier than usual chiefly owing to the earliness of the cotton crop ; every rupee
was required for trade purposes in the mofussil or in Bombay itself, and the circulation of
notes was in consequence largely reduced.
As regards notes of low value there was a general tendency to an increase in the circu
lation, though this tendency was checked in the last six months, probably owino- to the
abnormal demand for money which affected even small notes to a slight extent. Since 1885
the circulation of small notes had steadily risen from 191 to 218 lakhs, indicating a growing
appreciation of this form of currency on the part of the public.
The average number of notes which passed over the counter on each working day
during the past two years and the daily average of cancellations during the same period
were as follows :
Year.
Notes cashed.
Notes issued.
Notes,
cancelled.
1887- 88
1888- 89
6,498
7,355
7,405
7,712
3,654
4,003
These figures, which do not include foreign notes, show that the steady increase noted
in previous years was maintained in the year of report.
The following statement shows encashment of foreign notes during the year:
Calcutta.
Allahabad.
Lahore.
Madras.
Calicut.
Coconada.
Karachi.
Rangoon,
Total.
Bs.
Rs.
Bs.
Rs-
Rs.
Rs.
Rs.
Rs.
Rs.
38,01,370
13,36,870
26,22,535
36,09,225
3,63,615
130
14,76,845
1,71,295
1,33,81,885
The total amount of foreign notes cashed in the preceding year was Rs. 1,27,52,985.
The amount of the notes issued by the Sub-circle of Karachi and cashed at Bombay
during the year was Rs. 14,76,845 as compared with Es. 26,93,140 in 1887-88.
The net issue of small silver coin (fractions of the rupee) was Rs. 10,48,883 against
Rs. 13,02,425 in 1887-88. The decrease was due to the fact that in the year under reporta
limit was fixed for issues to a single individual or bank. The receipts and coinage of bullion
have been dealt with in the preceding section.
The transactions at the two permanent agencies were as follows :
Akola ag
1 agency
pharwar,
held by tl
to th
[jug the year,.
^ due to the pi
toy occurred (
presei
\ of an ind
i halves o
The remittan
arnoi
The gross cir
alwith 1887*
Years.
ffl „
fe was thus a j
ile circulation
The value ol
11887-88, show:
®tin Karachi,
toiiryonaccoi
The receipt
'4 11,024 a]
; 3e claims for'
H990 as coi
^swere prese
’pus,000
treasuries or
followii
f^ectorate
S the rei,
7 heen
riiifgf'
T