Lectures on Ancient Indian Numismatics (Carmichael Lectures, 1921) c7.20.1

c7.20.1

Now, any one who carefully studies Pāṇini’s Sūtras and the Jātaka stories cannot but be impressed by the fact that both depict ancient India of practically the same period. It is not, therefore, surprising if we find the same classes of coins referred to in both. But Pāṇini’s Aṣṭādhyāyī, just because it consists of aphorisms, cannot be expected to throw much light on this subject beyond the mere mention of the denominations of coins. The case is, however, different in regard to the Buddhist Jātakas. As they portray social and economic India of the 7th century B.C., it is here that we can clearly see what part, insignificant or important, stamped metallic currency played in the manifold transactions of the people at that early period. Let us, in the first place, see whether there was any gold currency in India at that time. Of course, as India was the land of gold in those days at least, we must naturally expect some sort of gold coinage to have been then prevalent. And we certainly find that our expectations are not unfounded. For we read of at least three classes of gold coinage in the Jātaka literature. And as gold is the most precious metal of which coins can be manufactured, it is only in connection with hoards of money, munificent gifts and so forth that we find gold coins mentioned. Thus the Kuhaka Jātaka¹ gives us an amusing story of a scamp of an ascetic who goes to a village and lives in a hermitage built by a local Kuṭumbika or farmer.