Tuesday, January 24, 2012

Arthur Conan Doyle on the Depreciation of the Indian Rupee

My son recently borrowed the Lost World by Arthur Conan Doyle from his school library and I was pleasantly surprised to find a remark on the depreciation of the rupee on the very first page of the book.  Surely it must have been an event of some importance!

"For an hour or more that evening I listened to his monotonous chirrup about bad money driving out good, the token value of silver, the depreciation of the rupee, and the true standards of exchange."