far more elegant than that of the Pathans, but the money of his son,
Jahāngir (1605-1628) is still more remarkable. He issued the famous
zodiacal mohurs and rupees, as well as those astonishing Bacchanalian
mohurs on which he is represented holding the wine-cup (see Pl. IV.
fig. 17). Scarcely less strange is the money of the beautiful queen
Nūr-Jahān. Under Shāh Jāhān (1628-1659) there is a visible falling
away in the merit of the coins, and an ordinary modern style is reached
in the reign of Aurungzib (1659-1707). To the close of the rule of
Shāh ‘Alam, the last Mogul who actually reigned (1759-1806), gold
and silver money is abundant. Much of the money of the East India
Company is closely imitated from this late Mogul coinage. Latterly,
native states coin with Arabic and also with Sanskrit inscriptions.
The most important are the kings of Oudh, the nizams of the Deccan,
and the kings of Mysore, besides the maharajahs of Indore and the
kings of Nepāl. The coinage of Tipu Sultān (Tippu Ṣāhib) is extremely
curious from his innovations in the calendar. Besides these
there are a multitude of small states. Most of the Indian princes
acknowledged the emperor of Delhi, but some struck independently.
At last the English coinage of India has swept away nearly all these
moneys, though some native states still issue their own.
We must be content with the briefest summary of the strange coinages of China and the Further East.
The money of China, more certainly than the square punch-marked coinage of India, may claim an origin independent of the China. Lydian and Greek issues. Although “money” is mentioned in Chinese literary sources as having been in use from a very early period (3rd millennium B.C.) it is probable that before the 7th century B.C. it consisted either of uncoined metal or of other media, such as silk, tortoise-shell, cowries. The shell currency indeed played a very important part in China even in later times. It was suppressed in 335 B.C., but the usurper Wang Mang, whose reign (A.D. 9-23) separates the two Han dynasties, made an abortive attempt to revive it. The earliest metal currency of which specimens are extant is, like nearly all subsequent Chinese money, of cast bronze. The gold and silver currency, which appeared sporadically, can never have been of much importance; a kin, or cubic inch, of gold, representing currency of Han times, is preserved in the Paris collection. The bronze coins fall into two main classes. The earlier (as a rule) have the shape of implements, such as spades, knives, &c.; the later are the well-known round “cash” with a square hole in the centre (see Pl. IV. figs. 18, 19). They are carried strung together, and their value is minute. From the earliest knife-money should be distinguished that of Wang Mang; his coins are short and thick, and the plain ring at the end of the handle is replaced by a piece resembling in shape a cash with ring and square central hole. The older knife-currency practically came to an end with the foundation of the Ts‘in dynasty in 221 B.C., though it doubtless lingered on in remote districts. With this dynasty appears the first organized state mintage. Nevertheless the economic history of Chinese coinage continues to be a melancholy record of doubtful financial expedients, debasement and forgery. The value of the coins was supposed to depend on their weight; but the weight inscribed on them was by no means always the true one. The bronze coinage from the reform of Wu-ti in 138 B.C. down to A.D. 622 is fairly uniform; it is chiefly cash of 5 chu (see Pl. IV. fig. 18). Iron money was issued at various periods. The disturbance of the coinage by the usurper Wang Mang has already been noted. The modern coinage may be said in a sense to date from the introduction of the K‘ai yuan pattern of 7½ chu under the T‘ang dynasty in A.D. 622. On the reverse of this coin was a mark (supposed to have been made by the empress Wen-teh in touching with her nail the wax model submitted to her) which has been much copied on coins of other countries in the Far East (see Pl. IV. fig. 19). From this time to the present there has been little change. Paper-money was introduced in the 9th century. The modern cash usually bears on the obverse the name of the reign and the words t‘ung pau (“current money”), on the reverse the name of the mint. The coinage under the present (Manchu) dynasty has been regular, except during the Taiping rebellion, when some iron coins and copper tokens were issued, owing to the failure of the copper supply. Gold and silver have not been issued by the government until quite recent times (see below), with one or two unimportant exceptions, but circulate by weight. Imitations of Spanish and Mexican dollars, bearing numerous punch-marks placed on them by successive owners, are common. The most interesting Chinese coins are those of small rival dynasties and of rebels, the study of which is important for the elucidation of the obscurities of the history of the country. The Chinese medals are talismans, usually larger than coins, and bear both subjects and inscriptions. They are distributed by Taoist and Buddhist priests of temples. The money of Korea and Annam is similar to that of China, and Chinese coins were long the currency of Java, which more recently has issued the money of its Mahommedan princes.
The empire of Japan shows in its coinage that Chinese source modified by the influence of native independence which marks all its Japan. institutions. The use of a metallic currency probably began in the 5th century of our era. In character the coins show strong Chinese influence. Amongst the earliest are rude silver pieces, disks of somewhat irregular shape, with a central hole, attributed to the early 5th century; and there are also copper coins of similar character dating from the end of the 7th century. A regular copper coinage, Chinese in pattern, began with the exploitation of the copper mines in A.D. 708. There was a silver coinage in A.D. 760, and a gradually deteriorating copper currency was issued at various dates down to A.D. 958. The twelve varieties issued in these two and a half centuries are known as the twelve antique sen (see Pl. IV. fig. 20). No copper was issued by the government for six hundred years after this date; but coins of the old patterns in lead or tin circulated down to 1302. The lack of copper was supplied by the importation and imitation of Chinese cash. These imitations were due to the great nobles, who made them on their own domains. At the end of the 16th century (Ten-sho period) a regular currency of gold, silver and copper, and also iron was instituted, which lasted, with modifications, down to recent times (iron coins with wave-pattern reverse being cast as late as 1860). There is a billon coinage of bean-shaped pieces issued at various dates from 1601-1859. Silver also was frequently issued on the same pattern as the copper coinage; but the greater part of it circulated in ingots or plates. The small oblong pieces known as ichi-bu and ni-bu belong to the 19th century (not issued after 1868). Large plates of silver, like the gold coins to be mentioned immediately, were issued in the 16th century by some provinces. Round coins of gold of the Chinese shape were rarely cast (one in A.D. 760, another in A.D. 1599). But from the 16th century to modern times gold circulated chiefly in large oblong plates, with rounded angles, varying from over 6½ to ⅜ in. in length. These are called o-ban (“large plate” of 10 ryo), ko-ban (“small plate” of 1 ryo; see Pl. IV. fig. 21), &c. They bore various counter marks, including the mikado's crest, mint-assayer's test marks, &c.; some bear the attestations merely written in ink (a device of the imperial officials, who charged fees for the attestations, and were not sorry that they should be easily obliterated). Small gold oblong pieces were cast at various times from 1601-1856 (Pl. IV. fig. 22). A European system of currency, with coins in gold (20 yen and under), silver (1 yen and under), nickel (5 sen) and copper (2 sen and under), was adopted in 1870. Japan has also “picture sen” (E-sen) of a magical and religious character like the temple medals already noticed under China.
Korea has had a copper coinage of Chinese style from the beginning of the twelfth century during its intervals of independence; but Korea. its coins do not become common until 1790. During the 19th century it issued an extensive copper coinage from various mints.
The earliest coins of Annam were imitations of Chinese coins, but since the 10th century its kings have issued a regular coinage Annam. bearing their regnal titles as in China. Since 1820 round and oblong silver coins have been struck, the tael and its subdivisions. Peculiar to Annam are the fine series of medals in gold, silver and copper struck since 1841 by its kings for presentation purposes, bearing lucky inscriptions, quotations from the Chinese classics, &c.
The peculiar forms of primitive currency characteristic of certain parts of Further India and the Malay Peninsula can only be barely Burma, Malay Peninsula, &c. mentioned here. Burma provides silver-money in the shape of snail-shells (a relic of a still more primitive shell-currency). The earlier Siamese ticals are derived from a ring of silver wire doubled up and countermarked. From Pahang come very curious tin “hat coins,” shaped like a hollow square pyramid, truncated, with broad, square brim project in from its base. The peoples of the Indian Ocean and Persian Gulf used in the 16th and 17th centuries pieces of silver wire called larins which in Ceylon took the shape of fish-hooks.
V. Coins of the Present Day
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| Fig. 1.—Sovereign (gold), England: Queen Victoria (obverse by Brock). |
United Kingdom.—The standard of gold and silver has remained unchanged for over two hundred years, and until 1887 the denominations were practically the same as instituted at the great recoinage of 1816. The substitution of a bronze for a copper currency had already taken place in 1860. On the occasion of Queen Victoria's Jubilee in 1887 it was determined to mark the event by a new coinage of gold and silver, and to revise the royal portrait. Two new denominations of five and two pounds were added to the gold series, and the double florin to the silver. For the reverse type of all the gold and of the five-shilling piece, Pistrucci's design of St George and the Dragon was used, and former types of Anne and George IV. were revived for the double florin, florin, half-crown and sixpence; that of the last was, however, soon abandoned. This new coinage did not meet with general approval, especially as regards the portrait of the Queen, and in consequence a third portrait was
