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the humble pie

Discussion in 'Snippets of Life (Non-Fiction)' started by sunkan, Feb 15, 2007.

  1. sunkan

    sunkan Gold IL'ite

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    <TABLE cellSpacing=0 cellPadding=0 width="85%" align=center border=0><TD vAlign=top>The Humble Pie
    Towards the nineteenth century, the pie was the smallest minted coin in India. It constituted 1/3 rd of a pice and was officially termed 1/12th of an Anna. 3 pies made a pice; 4 pice made an anna and 16 annas made a rupee. One rupee, thus consisted of 192 pies. (No wonder arithmetic daunted the faint-hearted then!!)
    [​IMG][​IMG]
    In the wake of the second world war, India witnessed an inflationary situation as well as a scarcity of metals that had to be imported. It was in this context of rising prices that the minting of the copper pie was discontinued after 1942.
    Ten years later,there was a proposal by the Mint Master that the pie be reintroduced as a part of the coinage of Republic India. The proposal, however, was very gently squashed by the then Finance Secretary, Shri K.G. Ambegaokar on cost-benefit considerations. Ambegaokar, later also served as Governor of the Bank for about one month in 1957. C.D. Deshmukh, the former Governor of the Bank was then the Finance Minister. He as "Minister" wrote the last word ending the saga of the humble pie.
    Ambegaokar stated
    "Much as I admire the valiant efforts made to rescue the 'picayune coin', I must, I am afraid, albeit with a heavy heart, write
    The Epitaph of the Pie
    Low and high
    We all will sigh
    When the poor little pie
    Bids her last goodbye.
    But her cost is so high;
    And what can she buy?
    What trade can she ply?
    She needs must eat the humble pie;
    So let us not vie
    To keep alive the pie
    And without a plaintive cry
    Peacefully let her die.
    If you want the reason why
    There need not be hue and cry
    Remember she'll in honour lie
    With the silver rupee high!
    Will the "Minister" say the last word?
    (K.G. Ambegaokar)
    Secretary
    July 12, 1952


    In the note, C D Deshmukh concurred stating
    Let not the 'press' of men
    Disturb a museum piece
    When life's extinct, oh then
    The pie shall lie in peace.
    C.D. Deshmukh
    July 13, 1952

    <TD class=text1 height=20>
     
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  2. vidyasarada

    vidyasarada Senior IL'ite

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    Hi Sunkan
    That was an informative and humorous snippet. I have this George Coin in my small old-coin collection. I plan to print this snippet and file it in the coin album, should make it more interesting !
    Thanks
    VS
     
  3. meenu

    meenu Bronze IL'ite

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    Yes,Sunkan,very humourous indeed
    Regards,
    Meenu
     

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