This article explores the early establishment of the Mughal empire and its eventual decline. Discover how this dominant empire's currency was a reflection of the culture and heritage that they merged.
The Coinage of the Mughal Empire
The Mughal Empire was founded in 1526 by Babur, a Central Asian ruler who descended from both Timur and Genghis Khan. The empire reached its greatest extent under the rule of Akbar the Great, who ruled from 1556 to 1605. During his reign, the Mughal Empire extended from present-day Afghanistan to Bangladesh and from the Himalayas to the Hindu Kush.
The Mughal coinage system was based on the silver rupee, which was subdivided into smaller units called dams. One dam was equal to one-sixteenth of a rupee and there were also fractional units called annas (one-sixteenth of a dam) and pies (one-twelfth of an anna). The Mughals also minted gold coins, which were called mohurs. One mohur was worth 10 rupees.
In addition to silver and gold coins, the Mughals also minted copper coins, which were called paisa. One paisa was equal to one-hundredth of a rupee. The copper coins were often used for local trade within the empire.
The obverse (front) side of Mughal coins typically featured the reigning emperor's name and titles, while the reverse (back) side usually had religious inscriptions or Islamic slogans such as "There is no god but God" or "God is great".
The Foundation of the Mughal Empire
The Mughal Empire was founded by Babur, a Central Asian ruler who descended from both Timur and Genghis Khan. He invaded India in 1526 and defeated the last of the Delhi Sultans, Lodhi. Babur then established the Mughal dynasty and ruled for fourteen years until his death in 1530. His son, Humayun, succeeded him but was quickly ousted by the Pathan leader, Sher Shah Suri. Humayun regained the throne fifteen years later but died soon after in an accident.
The third Mughal emperor was Akbar who is considered one of the greatest rulers in Indian history. He expanded the empire greatly, consolidated Mughal power, and instituted many reforms. One of his most famous accomplishments was his introduction of a new coinage system which helped unify the empire economically.
The foundation of the Mughal Empire was thus laid by Babur and continued by his son Akbar through military expansion and economic reform.
The Decline of the Mughal Empire
The Mughal Empire reached its peak in the early 1600s, but by the mid-1700s, it was in decline. There were several reasons for this decline, including:
-The death of Emperor Aurangzeb in 1707. Aurangzeb was a strong and effective leader, and his death left a void that was difficult to fill.
-The increasing number of wars fought by the Mughal Empire. These wars drained the empire's resources and weakened its military strength.
-The growing influence of regional powers such as the Marathas and the Sikhs. These groups challenged Mughal authority and slowly eroded their power.
-The rise of European powers in India. The British East India Company became increasingly powerful in the late 1700s, and by 1800 they had control of large parts of India. The Mughals were unable to compete with the Europeans and their power rapidly declined.
By 1857, the Mughal Empire was effectively dissolved and British rule began across India. This marked the end of one of the most powerful empires in Indian history.
Conclusion
The coinage of the Mughal Empire was both extremely varied and incredibly beautiful. The imperial workshops produced coins in a wide range of materials and designs, and the results were often stunning. While the Mughal Empire is no more, its coinage remains as a testament to its former glory.