The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-03-26
HIDDEN TREASURES IN INDIA.
One of the Hindrances to Getting
Down to "A Gold Basis.


From the Springfield Republican.
During the first decade of my residence
In India, writes w Forbes Mitchell I was
for some years associated with a wealthy
banker named Lalla Muttra Pershaud,
the Lahore agent of the great banking
house known as THE Seths of Muttra,"
and from him learned a great deal about
the system Of boarding practiced in all
ages by the wealthy classes of India. He
died at Brindabun about 1867. 1t may he
explained that the title "Lalla" used by
native bankers, has no exact equivalent in
English. 1t might with equal propriety be
translated master, professor or banker.
Both in ancient and modern times, one
of the stock objections of European ma
tions against trade with India has been
that this country absorbs a large amount
of the precious metals, which she never
6isgorges. 1t has naturally been asked
what becomes of these treasures, for we
do not find in India that abundance of
either gold or silver which might naturally
be exepcted; and the reply has always been
that they are Withdrawn from circulation
as currency by being boarded. For ages
it has been a prevalent opinion in all east
ern countries that here is a vast amount
of treasure hidden in the earth, which,
unless found by accident, is entirely lost
- man.
Regarding the boarded wealth of last
century, 1 need not quote the well-known
story of Lord Give and the treasures of
Mooreshedabad, as narrated in Macauleys
essay on Lord Give. That may be consid-
cred ancient history. / will confine my
self to modern times. The columns of the
Statesman afford proof of the system of
boarding still practiced in Bengal by the
most enlightened manager of an estate IN
the, most enlightened province of the en-
pire. About seven years ago, in the course
of the action for defamation brought
against the Statesman by an ex-tutor of
the late maharajah of Burdwan, deal of
evidence came out about the boarded
treasures of Burdwan. When such is the
case on a great property which has long
been under the enlightened influence of
the British government what may be ex-
pected from the states of the semi-inde-
pendent princes of upper India? Let the
following Illustration suffice.
When up country last year heard that
Chowringhee Lall, manager to Lalla Nut
ira Pershaud. already mentioned. was in
Gwalior on some temporary business, and
| called on him, as an old friend, at a
place in the Lushkar where he was resld-
ing. Among other subjects, we discuss
ed the action of the government in clos
ing the mints. and l asked his opinion
about the possibility of a gold standard
for India, and mentioned the fact that
certain members of the currency associa-
ton considered that fifty millions sterling
of gold would be sufficient to provide In
dia with a gold currency. The L,alla
laughed the idea to scorn, and assured
me that fifty millions would not suffice
to replace the silver boards of even one
state. You know" he said, "how anx-
ious the late Maharajah Sciudia was to
get back the fortress of Gwaror. but very
few know the cause prompting him. That
was a concealed hoard of 60 crores Sixty
millions sterling) of rupees in certain
vaults within the fortress, over which
British sentinels had been walking for