In 1329-30 Muhammad bin Tughlaq introduced a token copper currency in place of silver, but banned it later and promised to exchange silver coins for these copper coins. This was done because
Copper was scarce in the empire, but had huge demand in the world.
Incorrect AnswerToken currency was trampled and disrespected by people.
Incorrect AnswerGoldsmiths began to forge the token coins on a large scale.
Correct AnswerTreasury became empty with issue of token coins.
Incorrect AnswerExplanation:
There was a shortage of silver through out the world in the fourteenth century.Kublai Khan issued paper money in China. In the same manner, Muhammad bin Tughlaq issued copper coins at par with the value of the silver tanka coins.But he was not able to prevent forging the new coins. The goldsmiths began to forge the token coins on a large scale. Soon the new coins were not accepted in the markets due to its widescale duplication and thus credibility.Finally, Muhammad bin Tughlaq stopped the circulation of token currency and promised to exchange silver coins for the copper coins.Many people exchanged the new coins but the treasury became empty.According the Barani, the heap of copper coins remained lying on roadside in Tughlaqabad.
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By: Shubham Tiwari