Friday, December 12, 2014
IN dealing with the incidents of the Bank's History,
the perusal of the voluminous records relating to particular points, has been almost entirely refrained from, and is left to form such opinion as he may from the bare record of events. Every care has been taken to ensure accuracy as to details, but, as regards one or two items, .and in particular, containing a list of the Bank's Officers since 1806, reliable information has been difficult to secure, and approximate accuracy is the best that can be attained. Events have, as far as possible, been dealt with in the order in which they occurred, but, in some instances, particularly in the last two or 'three Chapters, it has been found necessary to describe in one place various items extending over a long period, and
exact chronological sequence has been sacrificed to geuera-1 expediency
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HALF BANKNOTE STORY OF BANK OF BENGAL 1839 AD CALCUTTA.
-researched written by Musham Damodhar Rao Historian-Epigraphist
- Owner of indianbanknoteS.blogspot.in
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India experienced turbulent period during the rule of East India Company, The East India Company had started a new system so far in dark coming into light with this document for first time.
Thugs played havoc in roadside travel, to cope this EIC envisaged a plan to issue banknotes which failed several times from 1797 to 1809 .Later the issues started from 1812 in Sicca Rupees which were not so successful so people knew little about them.
present design of banknotes came into effect from 1824 with limited issues, with Commerce sitting on Merchandise.
Value panels in English, Bengali,
Persian and Gujarati.
EIC developed a system to counter THUGS and robberies menace. First one half of banknote was sent then second Half was sent if first half reached safely otherwise the second half was surrendered to Bank of Bengal to redeem the amount of the banknote.
THIS STORY IS TOLD IN THIS DOCUMENT EXECUTED IN FORM OF “BOND OF INDEMNITY” OF BANK OF BENGAL.
Wednesday, December 3, 2014
The Bank was to be incorporated for a term of 7 years. The Governor General in Council was to exercise control over the administration of the Bank. The Government were to guarantee the responsibility of the Bank's establishment. Directors, who might be "Armenians, Natives or others" had to hold at least one whole
share of Rs. 10,000 each.
The power of electing a Director in the case of a vacancy laywith the Proprietors and not with the remaining