13
from circulation here. It is
A mere
now
fancy coin, which is not
even kept by the Banks; and it
ML
their customers require any returning to Europe, the Banks
have to send to the
Turney
changers
or gold workers to purchase them Sovereigns find their
way
here.
recasionally in considerable
numbers from Australia together with gold dust which is imported Largely, in the same way as
American Eagles
are
brought with
old ingots from California, but
merely imported as
merchandize, and on
their
arrival here
are
with the uncoined
273
gold indiscriminately thrown into the melting pot, and converted into gold leaf for use in India.
10.
To reply therefore to one
of the
questions specially referred to me in the despatch under acknowledgement I have to state that if the
existing Proclamation
were revoked, persons in the possession of Sovereigns at the time would have no fair claim to indemnity because I have shown all contracts – Governmental
as well as private - are made in Dollars and it is a mistake to suppose
that such obligations
can be discharged in
"either gold or Silver" - Gold Sovereigns have
practically been demonetized