The Early History of the Deccan (Parts I–XI) v2.c14.s4.3

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.