UPSC Exam > UPSC Questions > Which of the following statement is not corre...
Start Learning for Free
Which of the following statement is not correct with respect to the Coinage Act of 1835?
- a)Silver rupee coins were declared the sole legal tender throughout the British India
- b)The Act did not prohibit the minting of gold coins of the same weight and fineness as the silver coins
- c)The Act gave the sole right to issue currency notes in British India to the government.
- d)The value of the silver coin was engraved on it in both English and Persian
Correct answer is option 'C'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
Which of the following statement is not correct with respect to the Co...
The enactment of the Coinage Act of 1835 was for uniform coinage to be issued. The period was known to be 'Silver Standard' because silver rupee coins of 180 grains troy in terms of weight, 11/12ths fine in terms of purity, were declared the sole legal tender throughout the British India. Newly designed coins with the effigy of William IV on the obverse and the value on the reverse in English and Persian, were issued in 1835. Mints were opened to the public for free coinage of the metal and India was thus put on a monometallic silver standard. Though broader preference was for silver coins, the directors of the East India Company were not opposed to circulation of gold coins as such. The Act of 1835 permitted the minting of gold coins of the same weight and fineness as the silver rupee. But in terms of valuation, it was valued at 15 silver coins for 1 gold coin. Besides the silver and gold coins, currency notes were also in circulation, these being issued mainly by the Presidency Banks of Bengal from 1809, and those of Bombay from 1840 and Madras from 1843. These notes were not national legal tender and their circulation was confined to the Presidency towns. Members of trade bodies still favoured the introduction of currency notes. After several years of debate, the Paper Currency Bill was enacted in 1861 which gave the government the sole right to issue notes. Hence option (c) is the correct answer.
Free Test
FREE
| Start Free Test |
Community Answer
Which of the following statement is not correct with respect to the Co...
Silver rupee coins were declared the sole legal tender throughout the British India:
The Coinage Act of 1835 did declare silver rupee coins as the sole legal tender throughout British India. This meant that these coins were the only form of currency that could be used for transactions and settlements. The Act aimed to establish a standardized currency system and promote uniformity in trade and commerce.
The Act did not prohibit the minting of gold coins of the same weight and fineness as the silver coins:
This statement is correct. The Act did not prohibit the minting of gold coins that had the same weight and fineness as the silver coins. While silver rupees were declared as the sole legal tender, gold coins of equivalent value could still be minted and used for trade. This allowed for flexibility in the currency system and provided options for individuals and merchants who preferred gold over silver.
The Act gave the sole right to issue currency notes in British India to the government:
This statement is incorrect. The Coinage Act of 1835 did not give the sole right to issue currency notes in British India to the government. In fact, the Act did not address the issuance of currency notes at all. Currency notes were introduced in British India much later, in the mid-19th century, under separate legislation.
The value of the silver coin was engraved on it in both English and Persian:
This statement is correct. The Coinage Act of 1835 required that the value of the silver coin be engraved on it in both English and Persian. This was done to ensure clarity and ease of use for individuals who were literate in either language. The dual engravings helped facilitate trade and commerce across different regions and linguistic backgrounds.
In conclusion, the correct statement is:
c) The Act did not prohibit the minting of gold coins of the same weight and fineness as the silver coins.
The Coinage Act of 1835 did declare silver rupee coins as the sole legal tender throughout British India. This meant that these coins were the only form of currency that could be used for transactions and settlements. The Act aimed to establish a standardized currency system and promote uniformity in trade and commerce.
The Act did not prohibit the minting of gold coins of the same weight and fineness as the silver coins:
This statement is correct. The Act did not prohibit the minting of gold coins that had the same weight and fineness as the silver coins. While silver rupees were declared as the sole legal tender, gold coins of equivalent value could still be minted and used for trade. This allowed for flexibility in the currency system and provided options for individuals and merchants who preferred gold over silver.
The Act gave the sole right to issue currency notes in British India to the government:
This statement is incorrect. The Coinage Act of 1835 did not give the sole right to issue currency notes in British India to the government. In fact, the Act did not address the issuance of currency notes at all. Currency notes were introduced in British India much later, in the mid-19th century, under separate legislation.
The value of the silver coin was engraved on it in both English and Persian:
This statement is correct. The Coinage Act of 1835 required that the value of the silver coin be engraved on it in both English and Persian. This was done to ensure clarity and ease of use for individuals who were literate in either language. The dual engravings helped facilitate trade and commerce across different regions and linguistic backgrounds.
In conclusion, the correct statement is:
c) The Act did not prohibit the minting of gold coins of the same weight and fineness as the silver coins.
Attention UPSC Students!
To make sure you are not studying endlessly, EduRev has designed UPSC study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in UPSC.
|
Explore Courses for UPSC exam
|
|
Top Courses for UPSCView all
Which of the following statement is not correct with respect to the Coinage Act of 1835?a)Silver rupee coins were declared the sole legal tender throughout the British Indiab)The Act did not prohibit the minting of gold coins of the same weight and fineness as the silver coinsc)The Act gave the sole right to issue currency notes in British India to the government.d)The value of the silver coin was engraved on it in both English and PersianCorrect answer is option 'C'. Can you explain this answer?
Question Description
Which of the following statement is not correct with respect to the Coinage Act of 1835?a)Silver rupee coins were declared the sole legal tender throughout the British Indiab)The Act did not prohibit the minting of gold coins of the same weight and fineness as the silver coinsc)The Act gave the sole right to issue currency notes in British India to the government.d)The value of the silver coin was engraved on it in both English and PersianCorrect answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which of the following statement is not correct with respect to the Coinage Act of 1835?a)Silver rupee coins were declared the sole legal tender throughout the British Indiab)The Act did not prohibit the minting of gold coins of the same weight and fineness as the silver coinsc)The Act gave the sole right to issue currency notes in British India to the government.d)The value of the silver coin was engraved on it in both English and PersianCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following statement is not correct with respect to the Coinage Act of 1835?a)Silver rupee coins were declared the sole legal tender throughout the British Indiab)The Act did not prohibit the minting of gold coins of the same weight and fineness as the silver coinsc)The Act gave the sole right to issue currency notes in British India to the government.d)The value of the silver coin was engraved on it in both English and PersianCorrect answer is option 'C'. Can you explain this answer?.
Which of the following statement is not correct with respect to the Coinage Act of 1835?a)Silver rupee coins were declared the sole legal tender throughout the British Indiab)The Act did not prohibit the minting of gold coins of the same weight and fineness as the silver coinsc)The Act gave the sole right to issue currency notes in British India to the government.d)The value of the silver coin was engraved on it in both English and PersianCorrect answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which of the following statement is not correct with respect to the Coinage Act of 1835?a)Silver rupee coins were declared the sole legal tender throughout the British Indiab)The Act did not prohibit the minting of gold coins of the same weight and fineness as the silver coinsc)The Act gave the sole right to issue currency notes in British India to the government.d)The value of the silver coin was engraved on it in both English and PersianCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following statement is not correct with respect to the Coinage Act of 1835?a)Silver rupee coins were declared the sole legal tender throughout the British Indiab)The Act did not prohibit the minting of gold coins of the same weight and fineness as the silver coinsc)The Act gave the sole right to issue currency notes in British India to the government.d)The value of the silver coin was engraved on it in both English and PersianCorrect answer is option 'C'. Can you explain this answer?.
Solutions for Which of the following statement is not correct with respect to the Coinage Act of 1835?a)Silver rupee coins were declared the sole legal tender throughout the British Indiab)The Act did not prohibit the minting of gold coins of the same weight and fineness as the silver coinsc)The Act gave the sole right to issue currency notes in British India to the government.d)The value of the silver coin was engraved on it in both English and PersianCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of Which of the following statement is not correct with respect to the Coinage Act of 1835?a)Silver rupee coins were declared the sole legal tender throughout the British Indiab)The Act did not prohibit the minting of gold coins of the same weight and fineness as the silver coinsc)The Act gave the sole right to issue currency notes in British India to the government.d)The value of the silver coin was engraved on it in both English and PersianCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Which of the following statement is not correct with respect to the Coinage Act of 1835?a)Silver rupee coins were declared the sole legal tender throughout the British Indiab)The Act did not prohibit the minting of gold coins of the same weight and fineness as the silver coinsc)The Act gave the sole right to issue currency notes in British India to the government.d)The value of the silver coin was engraved on it in both English and PersianCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Which of the following statement is not correct with respect to the Coinage Act of 1835?a)Silver rupee coins were declared the sole legal tender throughout the British Indiab)The Act did not prohibit the minting of gold coins of the same weight and fineness as the silver coinsc)The Act gave the sole right to issue currency notes in British India to the government.d)The value of the silver coin was engraved on it in both English and PersianCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Which of the following statement is not correct with respect to the Coinage Act of 1835?a)Silver rupee coins were declared the sole legal tender throughout the British Indiab)The Act did not prohibit the minting of gold coins of the same weight and fineness as the silver coinsc)The Act gave the sole right to issue currency notes in British India to the government.d)The value of the silver coin was engraved on it in both English and PersianCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Which of the following statement is not correct with respect to the Coinage Act of 1835?a)Silver rupee coins were declared the sole legal tender throughout the British Indiab)The Act did not prohibit the minting of gold coins of the same weight and fineness as the silver coinsc)The Act gave the sole right to issue currency notes in British India to the government.d)The value of the silver coin was engraved on it in both English and PersianCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice UPSC tests.
|
|
Explore Courses for UPSC exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup