*18
201
paid.
Such sums shall be received at or from the Treasury in dollars and cents only at the rate of 4/2 to the Dollar.
?
I am thus brought to the consideration of what Coin should be the legal tender in payment of sums less than one dollar, but before recommending the course which I think should be adopted in this respect I must first explain the existing state of things.
13.
There is no fixed rule established amongst the European and American community by which small payments are made. There are small quantities of various coins in circulation and they pass at different rates according to the exigencies of the receiver in each case. For instance, if in one place the dollar be worth 4/8, one Shilling and two pence will be required for a Quarter Dollar (25 cents) while in another one Shilling and a half penny will be accepted. Payments of this kind between others than Chinese are very few, as may be imagined when I mention that the Manager of the Principal Bank here informed me that £15 worth of small silver and Copper Coins, British and Foreign Silver and Copper Coins, is sufficient each month to settle all such payments in his Bank.