interests in China than a regulation of the currency in order to secure against the fluctuations of false estimates attributable to ignorance and caprice which are exhibited in their most obstinate forms. If I should succeed in obtaining from Chinese authorities a recognition of a Hongkong Dollar at its intrinsic value, I should without hesitation recommend the establishment of a Mint in this Colony not only as a valuable source of revenue, but a public accommodation and benefit of great price. As no estimable proportion exists between the relative value of Gold and Silver, and as the same intrinsic value of Silver Coins is sometimes accompanied with a Commercial difference of 30 to 40 per cent, it is obvious that a dollar which being coined at Hongkong could obtain official recognition at its real metallic value, would be a most useful instrument of exchange. I consider the introduction of such a Dollar into Chinese circulation, it would be a most desirable result.
16. With reference to my...
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16. With reference to my...