The Cambridge History of India, Vol. III: Turks and Afghans v3.c27.24

v3.c27.24

Sangama I was succeeded, in 1339, by his son, Harihara I, who again was succeeded, in 1354, by his brother, Bukka I. It cannot be determined what share each of these rulers had in establishing the kingdom, but before 1357 it was so powerful that the sagest counsellor of Bahman Shāh dissuaded him from molesting it. Muhammad I came into conflict with this great power in consequence of a measure of domestic policy, adopted in no spirit of aggression. His father had minted few or no gold coins, but Muhammad, who objected both on religious and political grounds to the circulation of Hindu money in his dominions, coined gold in considerable quantities. Bukka I and Kānhayya of Warangal, without any justification, resented this measure as tending to limit the circulation of their gold, and received support from the bankers and moneychangers in Muhammad’s dominions, native Hindus of the Deccan, who melted down all his gold coin falling into their hands, and either hoarded the metal, which was purer than that of the Hindu coins, or supplied it to the mints of Vijayanagar and Warangal. Repeated warnings were disregarded, and on one day in May or June, 1360, the Hindu bankers and money-changers in all towns of the kingdom were, by royal decree, put to death. Their place was taken by Hindus of the Khatrī caste of northern India, who had accompanied the various armies which had invaded the Deccan, and now enjoyed a monopoly of the business of banking and money-changing until, in the reign of Fīrūz Shāh Bahmanī (1397–1422), the descendants of the slaughtered men were permitted, on payment of a large sum of money, to resume the business of their forefathers.