Dan Seitz

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With the risk of inflation becoming more and more obvious, the remaining silver stocks disappeared from the market. This in turn made it harder to sustain the fiction that the flood of paper rupees would eventually be redeemable in specie. As a countermeasure, in April 1916 the government of India began feeding silver purchased in the United States into circulation.
The Deluge: The Great War, America and the Remaking of the Global Order, 1916-1931
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