hundis

The paper records themselves, that is, the hundis and hawalas and the assortment of merchant record books where they met their final demise and realization, do not appear in the colonial archives.

Connecting Histories in Afghanistan: Market Relations and State Formation on a Colonial Frontier 2008

Critics of the Treasury guidelines say they are sending more people to informal money transfer networks called "hundis" or "hawalas" that circumvent government and bank scrutiny, the AP reports.

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In Kabul, the most senior British authorities were similarly unable to avoid engaging local bankers, but in the capital city colonial officers sought large-scale cash advances, realized through hundis, in an unsuccessful effort to save the occupation.

Connecting Histories in Afghanistan: Market Relations and State Formation on a Colonial Frontier 2008

Rawlinson also considered ridding the Indus Army treasury of Qandahar rupees through advances to local officials and in remittance of hundis drawn on the Company treasury in Qandahar by British officers and agents in cities such as Herat and Farrah. back

Connecting Histories in Afghanistan: Market Relations and State Formation on a Colonial Frontier 2008

For example, in Herat during the fall of 1840 Major D'Arcy Todd used invisible ink to explain and justify his withdrawal of Rs. 31,200 cash from the Company treasury. 16 Todd also issued six hundis from Herat in October of that year.

Connecting Histories in Afghanistan: Market Relations and State Formation on a Colonial Frontier 2008

In return for the hefty sums of cash advanced to him Pottinger issued hundis on the Ludiana treasury for Rs. 105,000 to Rorsukh Rae, Rs. 30,000 to Dodum Rae, and Rs. 30,000 to Basha Mall.

Connecting Histories in Afghanistan: Market Relations and State Formation on a Colonial Frontier 2008

Yang here refers to hundis as notes of credit whereas in another location, ibid., p. 257, he adopts the more common translation for hundi as a bill of exchange.

Connecting Histories in Afghanistan: Market Relations and State Formation on a Colonial Frontier 2008

The agents of those connections and the agency employed to make them correspond in many important ways to the mobile Hindkis and hundis that paired with the commercially precocious nomads to form the fluid base over which political authorities must raft and camp rather than permanently settle.

Connecting Histories in Afghanistan: Market Relations and State Formation on a Colonial Frontier 2008

Levi (ibid.) notes the bond-like function of hundis that could be purchased at a 2 percent or 2.5 percent discount, and distinguishes two types of payment promises, either by distance from the point of purchase or length of time until cashing. back

Connecting Histories in Afghanistan: Market Relations and State Formation on a Colonial Frontier 2008

The British government also recognized the gravity of the situation in Kabul and therefore instructed their own treasury officials in Ferozpore and Ludiana to "delay without refusing remittance" on bills drawn on those treasuries. 20 In response, a number of North Indian banking firms reneged outright on cashing hundis issued to the British government and its officials.

Connecting Histories in Afghanistan: Market Relations and State Formation on a Colonial Frontier 2008