over-
that it will be necessary to suppose climated to this extent by the Chinese, while experience shows that all other coins under-estimated by them, in a like with the Dollar.
are
similar
67
Comparison
Europeans, who are well acquainted with the difference between the nominal and
value
intrinsic value of the British silver
Coin
would of course not accept it at the former in any considerable payments, and at the same time they might be disposed, from motives of convenience
it's smaller transactions, then
recognise ability to do so
in
do would
would
much
greatly depend upon the willingness of the Chinese, with whom they have dealings to receive it on the same terms. If it were accepted by the Army and Navy at its nominal value, and at the same time exchangeable in the
market at
416
than it is worth, the Pay and allowances of both Services
would suffer
a virtual reduction to the
amount
of the difference!
silver coin
195
8. If the British dollar were issued at its intrinsic worth with
reference to the coins already established in circulation, that is, at about 217½ Cents
of currency, or what comes to the same
case
silver
point of mere calculation, if the rating rate of other coins should be fixed
in proportion to the contents in pure silver, which would be about 217½ for the dollar, the attempt to force the former into circulation would in the first case be attended with loss of the expense of placing it in the Chest, as well as of the profit
the same which might arise in obtaining amount by the sale of Bills, and, in the second case, would produce a result
differing only in so far as regards the payments to the Army and Navy of sums fixed in Sterling, which would suffer the same virtual diminution as stated in the last paragraph.