By the two Acts of 1818 and 1835, India was put on the silver standard. The silver rupee of a set weight and silver con- tent was proclaimed the basis monetary unit for the whole country. This tended to stabilise the fiscal revenue of the colonial administration and made it possible to introduce the cash system. However, the introduction of the cash taxes, especially in agriculture, undermined the peasants' natural economy and destroyed the traditional economic ties in the communities, which were founded chiefly on barter. It also helped to create a market , for British manufactured goods and forced the peasant to produce commodities that were in demand on the market and that could be sold for cash.
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