The introduction of the silver Tanka and the copper Jital by Iltutmish (1211–1236 CE) represents a milestone in the economic history of medieval India. Before this, the currency in Northern India was fragmented, consisting largely of regional bullion, cowries, and debased coins inherited from local dynasties. By standardizing the currency, Iltutmish provided the economic integration necessary for the burgeoning Delhi Sultanate.
The Silver Tanka
The Tanka served as the primary high-value currency of the Sultanate, facilitating large-scale trade and state transactions.
- The Tanka was composed of pure silver and weighed approximately 175 grains (roughly 11 grams).
- It was modeled after the silver coins issued by the Ilkhanid rulers of Central Asia and the Persian world, reflecting the Persianate influence on the Sultanate.
- The issuance of the Tanka was a manifestation of sovereign authority, as the right to coin money (Sikka) was one of the two traditional requirements for Islamic sovereignty, alongside the mention of the ruler’s name in the Friday sermon (Khutba).
The Copper Jital
The Jital was designed for everyday transactions, serving as the fractional currency that bridged the gap between elite high-value trade and the local marketplace.
- The Jital was made of copper and functioned as the standard unit for small-scale commerce.
- The fixed exchange rate between the Tanka and the Jital was maintained by the state to stabilize the economy. Generally, 1 silver Tanka was equivalent to 48 copper Jitals.
- This decimal-adjacent logic allowed for significant ease in fiscal administration, tax calculation, and wage payments for state employees.
Economic and Administrative Impact
The standardization of currency had far-reaching effects on the administration and the economy of the Delhi Sultanate.
- Fiscal Consolidation: The introduction of standardized coins enabled the central government to collect taxes in a uniform manner, ending the reliance on disparate local commodities and bullion weights.
- Integration of Trade: The Tanka and Jital created a unified monetary zone across Northern India, which encouraged long-distance trade and connected provincial markets to the capital at Delhi.
- Payment for Services: Standardized currency allowed the Sultan to pay salaries to his professional soldiers and administrators directly, strengthening the Iqta system and reducing dependency on local resource bartering.
- Economic Legitimacy: The presence of the Sultan’s name and titles on these coins acted as a powerful tool for projecting power and legitimacy to the merchant classes and the rural populace.
Comparative Overview of Mamluk Currency
| Coin | Metal | Primary Purpose |
|---|---|---|
| Tanka | Silver | Large trade, state taxes, salaries |
| Jital | Copper | Daily marketplace, small purchases |
Historical Facts and Trivia
- Iltutmish was the first ruler of the Delhi Sultanate to introduce purely Arabic-style coins, departing from the earlier tradition of retaining local symbols like the bull and horseman found on the Ghaznavid and early Ghurid issues.
- The Tanka eventually became the ancestor of the modern “Taka,” which remains the currency unit of Bangladesh.
- The standardization of currency under Iltutmish was so successful that it remained the benchmark for the Sultanate’s economy until the currency reforms of Alauddin Khalji and Muhammad bin Tughlaq.
- In the contemporary inscriptions and chronicles like Tabaqat-i-Nasiri, the Tanka is frequently mentioned as the standard unit of wealth, often used to describe the immense tributes collected from conquered territories or the gold and silver wealth accumulated in the royal treasury.
- The Jital was specifically designed to be affordable for the common urban resident, making it a critical tool in the Sultan’s efforts to ensure urban food security and stable pricing for essential commodities.