Medium of Exchange in
China and
Japan
embaras of Commerce.
Must teed
the Operations
I propose that the Mint should be established
in Hongkong,
at the expense
of the Colony, for the coinage of
silver bullion into dollars: and
that a seigniorage
mint charge should be levied sufficient
to cover the cost of coinage.
I believe that such a
measure is
called for, and that
the British dollar
bearing Her Majesty's Effigy and
coined in Hongkong
would become in a
very short time
a standard
and instrument
not only
of Commerce
in Hongkong - where
it would be so by law, but
Throughout all the
Ports of
China and
doubtless in
Japan
Open Ports
in Japan.
This measure would
obviate the
caprices of Chinese prejudice, but I propose that the cost
of the experiment should fall on the Colony of Hongkong.
It is stated that
the British share
of the foreign trade of China
is Estimated at
thirty Millions Sterling
and that
This vast traffic is
carried on
chiefly by
means of
Currency