50
5/ made compulsory & practical
result of this would simply be that all the portages would be paid in 2 Dollars at 4/2 instead of only a large proportion of them the whole of at present; and the Imperial share would then be remitted home by the Colony in Bills of Exchange free from all loss.
The expense of the stamps would fall on the Colony, and the Colony would derive the benefit.
J. 223 when it fell to 3; 11½ - equivalent at a par of £1/2 to 5 per cent premium Sterling - And I do not think it an impossible contingency that the balance of Trade may again become favourable to China ports as it formerly was, now that so many have been opened which may become consumers of Imports but have no exports suitable to a foreign trade to give in exchange.
Profits Imperial share so long as the exchange continued unfavourable to the mother Country. The Colony should therefore bear the loss on remitting the Dollar even were it worth in exchange less than 2/2 - as in 1849.
I will now as briefly as possible recapitulate my proposals in the order in which they should be carried out.