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Some years have elapsed since it was required to buy a large quantity of taxes in silver Dollars, but they were paid in at the rate of 4/2d per Dollar in the market, instead of 4/9d as salaries in sovereigns & the interest of the public debt were paid in 1844.
The value of the sovereign in public accounts & contracts has become... as dont effect of course, the reverse. This has led to an unseemly contest between the Government and the public, though no doubt effecting the exchange. Under the general auspices of the Government in the matter, the public servants are dependent on the Government for their salaries in sovereigns paid out by Government, & their demand for them for paying in taxes & ground rents, which is a main item of revenue in Hong Kong.
In this state of things it has become the interest of the Government to obtain silver Dollars, under a decision of the Courts of law - but is still obliged to...