The Early History of the Deccan (Parts I–XI) v2.c14.s4: VII. Economic Conditions
The Early History of the Deccan (Parts I–XI) v2.c14.s4
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VII. Economic Conditions
v2.c14.s4.2
T HE observations made about the wealth of the country, its industries, commerce, guild organization, &c., in connexion with the Rāṣṭrakūta period, also hold good about the age of the Yādavas. We will not therefore repeat them here but will merely add a few more details gathered from contemporary records and from the *Jñāneśvarī*.
v2.c14.s4.3
The Virabalanja continued to be an influential trade organization having its headquarters at Aihole with its branches spread over most of the important cities of south India. It was a powerful guild dealing in most of the principal kinds of merchandise, and its executive council seems to have consisted of 500 members. The *Jñāneśvarī* refers to a state currency in gold issued by the Yādava government and the discovery of the Rachapatanam hoard in the Kistna District now reveals its real nature. The gold coins were of the so-called *Padma-ṭaṅka* variety, weighing about 57 grains and bearing the names of the various rulers under whom they were struck. So far the coins of Siṃhaṇa, Kanhara or Kṛṣṇa, Mahādeva, and Śrīrāma or Rāmachandra have been identified.¹ It does not seem that the Yādava Government issued any silver or copper currency. Small transactions were probably done by barter. The *Jñāneśvarī* refers to one place to a currency in the form of inscribed skin pieces, but it seems extremely doubtful whether any Hindu government would have issued such a currency for its subjects. It appears not improbable that this particular passage in the *Jñāneśvarī* may be an interpolation made subsequent to the times of Muḥammad-bin-Tughluq.
v2.c14.s4.4
¹ *JRAS*, 1925, p. 16.
v2.c14.s4.5
Incidental references in the *Jñāneśvarī* would seem to indicate that the Deccan was in a very prosperous condition during the rule of the Yādavas. This inference is confirmed by the accounts of the loot taken to the north by Muslim raiders in the twelfth and thirteenth centuries. The main streets of Devagirī and other important towns and cities of the empire were lined with the shops of goldsmiths, silversmiths, and dealers in pearls and fine and costly muslins. There were many wealthy householders and there was therefore a great demand for such articles, since rich men sought eagerly for ornaments with which to adorn themselves, their wives, their children and the images of gods. Ornaments and bullion were often buried underground in the houses of the more opulent. These lived in three-storied houses, with good windows and doors, painted with pictures on the outer sides, and having guards stationed at the entrance. Cooks, umbrella-bearers and betel-carriers were among the servants who usually formed their retinues. The palanquin was the normal fashionable means of conveyance, but when a large number of people were to be transported, as in the case of a marriage party, even the rich used to travel in bullock carts. Horse carriages were not in use at this time. The poor people lived in thatched houses, as now; there is no evidence to show us precisely what was the ratio of the rich to the poor during this period. The usual rate of interest for secured loans was 12 per cent. per annum.
Cites (1)
- Jñāneśvarī — Jñāneśvara, Marathi