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such a step had been attempted, it must have proved fatal to the
very existence of the colony
as a Commercial
entrepôt.
6.
The Mercantile Community,
however, has never
recognized the
governed themselves
Proclamation
in the slightest degree in their
mutual transactions by its conditions.
Silver remains the Standard of value.
All accounts, except
those
of Government departments,
are
kept
in Dollars and cents; and the sole
instrument of Commerce and Medium of exchange both here and at all the open ports in China
except Shanghai, is now the dollar.
Payment by weight —
the weight almost universally specified in all contracts being "Dollars weight" at 72.17%, which means Dollars weighing at the rate of 1000 to 717 Taels weight, or equivalent to 415.74 grains troy each.
7.
As regards the transactions of the Colonial Government the Proclamation
may
be said to have
remained in force until 1854, up to which time I find the greater portion of the
the revenue
was paid
into the Treasury in British Sterling money, entailing thereby inconvenience