Question

Read the following source carefully and answer the questions that follow:

How Silver Came to India This excerpt from Giovanni Careri’s account (based on Bernier’s account) gives an idea of the enormous amount of wealth that found its way into the Mughal Empire: That the Reader may form some idea of the Wealth of this (Mughal) Empire, he is to observe that all the Gold and Silver which circulates throughout the World at last Centres here. It is well known that as much of it comes out of America, after running through several Kingdoms of Europe, goes partly into Turky (Turkey), for several sort of Commodities; and part into Persia, by the way of Smirna for Silk. Now the Turks not being able to abstain from Coffee, which comes from Hyeman (Oman), and Arabia ... nor Persia, Arabia, and the Turks themselves to go without the commodities of India, send vast quantities of Mony (money) to Moka (Mocha) on the Red Sea, near Babel Mandel; to Bassora (Basra) at the bottom of the Persian Gulgh (Gulf).... which is afterwards sent over in Ships to Indostan (Hindustan). Besides the Indian, Dutch, English, and Portuguese Ships, that every Year carry the Commodities of Indostan, to Pegu, Tanasserri (parts of Myanmar), Siam (Thailand), Ceylon (Sri Lanka) .... the Maldives Islands, Mozambique and other Places, must of necessity convey much Gold and Silver thither, from those Countries. All that the Dutch fetch from the Mines in Japan, sooner or later, goes to Indostan; and the goods carry’d hence into Europe, whether to France, England, or Portugal, are all purchas’d for ready Mony, which remains there.

1. How could the Mughal Empire accumulate enormous wealth? Explain. 2
2. How did Silver travel to across the globe to reach India? Explain. 2
3. How were the transactions made in the seventeenth century India?Explain. 2

Answer 1

1. Accumulation of enormous wealth by Mughals.
   1. Through the vibrant network of overland trade.
   2. Due to the expansion in the commodity composition and of trade.
2. Silver travelled across the globe to reach India.
   1. Availability of metal currency.
   2. Expansion of minting technique.
   3. Circulation of money in the economy.
   4. Extraction of taxes and revenue in cash.
3. Ways of transaction in 17^th century:
   1. Through Cash transactions.
   2. Through Commodity transactions.