38
230
39
Dollar, at the rate
other
h
7
100 to a Dollar. The
as
they
a ten
Silver coin to be called
cent piece, and to be a legal tender
to the amount
of
2 dollars, at the rate of ten for one Dollar. I think the cent especially desirable because without it all fractional parts of Dollar, which in Government, Banking, or mercantile accounts, never below a cent, would have to be entered in cents and settled in such which would be both burdensome and inconvenient. I do not think that the intrinsic values of
these coins which would circulate chiefly among Europeans would be
a matter
of much
consequence as long
as they
were
below their rated value
to an extent that would cover the
expense of
their
coinage
and ensure
their remaining in circulation. The quality and weight of the cent might be the same as that of the East India Company's cent coined in 1845, a few of which are in circulation and which in size and weight are found to be convenient. As regards the weight of the 10 cent piece, the Chinese authorities whom I have consulted consider it desirable that it should be made
by
means of alloy
as
nearly
as
possible one tenth of the Dollar in weight
or 41.6
grains.