Copy
Memorandum
196
on the letter of Resistant Commissary General Smith, on the Currency question-
The first conclusions arrived at by_Wo= Smith, are
1. that the superin value assigned to Shanish Dollars in china is wholly fictitions,
2. that the difference should be regarded
as
cale
not as
+ premium in their discount in the other, and,
3. that Spanish dollars are peculiarly
the currency of China..
no
To the first of these positions objection can be raised, but it may be proper to observe that the loss.__
bi
ILY.
DIC.
DEX