Originally published in 1927 the book attempts to give the past and the present of the system of paper currency in India. It is in two parts : part 1 is on paper currency before 1861; part 2 is on government paper currency. This section is further divided into 8 chapters.

Contents
Part I. Paper Currency before 1861: (i) Some General Features,
(ii) Details of Bank Issues: Part II. Government Paper Currency. (iii) An Act to provide for a Government Paper Currency, (iv) The Agency of Issue, (v) The Mechanism of the Issue, (vi) The Cover of the Issue; The Question of Elasticity, (vii) The Cover of the Issue. The Paper Currency Reserve, its functions, its location and its relation to other Government Reserves, (viii) The Cover of the Issue; The Composition of the Reserve, (ix) The Growth of the Issue, (x) The Future of the Issue Appendix A. Act 19 of 1861; Appendix B. The existing Paper Currency Law, Act 10 of 1923, amended by later Acts; Appendix C. Proposed new Currency legislation.