these speculative
323 Refsing considerations, it remains to see the result of exact calculation. To begin with the
"Hance from England, the seigniorage on the coin is equal to a profit of nearly 67½ per cent from which is to be deducted the actual expense of the coinage, not accurately known, but estimated at 1¾% also freights and Sea risk estimated also at 3½% leaving a clear gain of about 62¼ per cent.
It is argued that the coin is valuable at the nominal value of £12 per cent, would cost the public about 11¾ when placed in the chest at Huanging.
6. The dollar is now firmly fixed, whenever a reference to Sterling becomes necessary, at 7% - The present Exchanging on England is from "4/6" to "4/8" for the tael in Kuping; but at which exceeds the average rate for some time past, it would be 194 per cent, and even at 7/2d% would be 43 per cent. It therefore does not appear that any profit would accrue to the Public from the remittance of British silver coin, which might not be equally obtained by the negotiation of Bullion.
7. In the present calculations the intrinsic value of the British silver coins is assumed at its nominal Sterling amount. To maintain this value with reference to the Haikwan tael at "4/6", the Shilling should circulate at an equivalent to 27/100 of a dollar. It is however intrinsically equivalent to 10 cents more than about 21½ cents, or nearly 7 per cent loss. So that in order to sustain such a rate it is necessary
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