29
the Shop Keepers were
obliged in
in self defence
some months since to come to
an agreement not to accept in payment
any
but Government cash, which last
28
price of their commodities at once;
lately the cash rises
as
in value the old prices are maintained
as
long
as
possible and until then
it
now passes current here at the same
rate as in Ernton i.e. at present $0.9701 the Dollar.
to
18.
Such changes
there in the
country bear with
great
hardship upon the poorer classes.
For the sellers of commodities being fewer
in number and generally more intelligent than the purchasers, take
care
whenever
a fall takes place in
the value of cash, if they have not already anticipated it, to raise the
prices - forced down by competition.
The effects of which wholesome principle
are
slower in China than in
any other
part of
the world, in consequence of
the combinations which exist amongst the members of all trades and guilds.
Thus for example complaints have been made to me,
and I believe with truth
that the prices of all commodities in
the market here in cash
are
the same
as
before the recent increase in
the value of
that coin of nearly 25 per
cent and I have in consequence...