134
26.
-
100 Taels Ayer - But 113 Taels of these dollars yield only 100 Sycee — The difference of 13 Taels is the premium paid there for coined money.
At Shanghai, at present, 107 Taels of Carolus dollars buy 100 Taels of Sycee - But 112 Taels of those dollars contain only 100 Taels of Sycee. The difference of 12 Taels (not 38 Taels as previously mentioned, which seems to be an error) is the premium paid here for a familiar and trusted currency.
These figures appear not only to support our opinion that the Chinese will pay a fair price for the use of a good currency, but to show that our views as to the general demand for a currency, and as to the character of Sycee, are just.
Trusting that Your Excellency may find these remarks not devoid of interest,
We are,
(Signed) Russell & Co.
Augustus H. Smith ・・・ Mye flg:
C. D. Mye.
• Apr: King H60:
J. Macgill Smith
Williams May
(Free copy)
To
Sir John Bowring Kt.
Governor of Hongkong & Superintendent of British Trade,
Colonial Secretary