their petition. Even before 1826, the Spanish silver dollar and local copper cent had been used widely by the Straits merchants in their trade and commerce, (even though in theory, in 1835, the rupee was the currency of account for official purposes until 1867).
The directors of the EIC, considering only the Indian Empire's interests,29 established a uniform rupee currency throughout its territories, which of course included the Straits Settlements. In 1854, a bill was introduced to the Indian legislative council 'to improve the law relating to the copper currency in the Straits,' which provided for a copper currency based on fractions of the rupee.30 According to the Currency Act, the Indian pice was to be made legal tender instead of the copper cent and the rupee was to be enforced as legal tender.31
This Act was fiercely objected to by the Straits merchants, and in response to the opposition, the directors ordered the act to be repealed in 1857. Mr Ballie (Secretary of the Board of Control of the EIC) argues that 'it was very natural that the governor-general should desire to establish a uniform currency throughout the whole of the territories subject to his authority'32 and that after the complaints made at Singapore, this grievance was redressed, and that therefore the petitioners did not have a right to complain.**
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The 1867 Act legalised a currency which was already assured,” and by the time the transfer to the Colonial Office took place, the currency issue was virtually resolved. However, as it was a problem that could have been prevented instead of cured, I would accord little credit to the Indian government's role in this issue.
Piracy and western laws
This was another arguable "problem" that was cited in the petition, and used as an example of the Indian government's inefficiency. Piracy was widespread in the Straits until the mid-19th century, and was a threat to the property and commerce of the merchants. The pirates that predominated in the 1830s and 1840s were pirates of the Sulu archipelago, Illanun pirates from Mindanao and Dyaks from North Borneo. Complaints were that 'no systematic measures of protection have ever been adopted or carried out by the EIC, who have been content to leave the service to be performed by the Royal Navy.”37
6
their petition. Even before 1826, the Spanish silver dollar and local copper cent had been used widely by the Straits merchants in their trade and commerce, (even though in theory, in 1835, the rupee was the currency of account for official purposes until 1867).
The directors of the EIC, considering only the Indian Empire's interests,29 established a uniform rupee currency throughout its territories, which of course included the Straits Settlements. In 1854, a bill was introduced to the Indian legislative council 'to improve the law relating to the copper currency in the Straits,' which provided for a copper currency based on fractions of the rupee.30 According to the Currency Act, the Indian pice was to be made legal tender instead of the copper cent and the rupee was to be enforced as legal tender.31
This Act was fiercely objected to by the Straits merchants, and in response to the opposition, the directors ordered the act to be repealed in 1857. Mr Ballie (Secretary of the Board of Control of the EIC) argues that 'it was very natural that the governor-general should desire to establish a uniform currency throughout the whole of the territories subject to his authority'32 and that after the complaints made at Singapore, this grievance was redressed, and that therefore the petitioners did not have a right to complain.**
36
33
35
The 1867 Act legalised a currency which was already assured,” and by the time the transfer to the Colonial Office took place, the currency issue was virtually resolved. However, as it was a problem that could have been prevented instead of cured, I would accord little credit to the Indian government's role in this issue.
Piracy and western laws
This was another arguable "problem" that was cited in the petition, and used as an example of the Indian government's inefficiency. Piracy was widespread in the Straits until the mid-19th century, and was a threat to the property and commerce of the merchants. The pirates that predominated in the 1830s and 1840s were pirates of the Sulu archipelago, Illanun pirates from Mindanao and Dyaks from North Borneo. Complaints were that 'no systematic measures of protection have ever been adopted or carried out by the EIC, who have been content to leave the service to be performed by the Royal Navy.”37
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