Travels in the Mogul Empire (Bernier) 4.5.8

4.5.8

I have no doubt that this habit of secretly burying the precious metals, and thus withdrawing them from circulation, is the principal cause of their apparent scarcity in Hindoustan. From what I have said, a question will naturally arise, whether it would not be more advantageous for the King as well as for the people, if the former ceased to be sole possessor of the land, and the right of private property were recognised in the Indies as it is with us? I have carefully compared the condition of European states, where that right is acknowledged, with the condition of those countries where it is not known, and am persuaded that the absence of it among the people is injurious to the best interests of the Sovereign himself.