374
standard wo
the experiment with the first lot sent in the Government as they average the same
the Hongkong dollar and
by
any
divergence
the
assay before pouring into bars, this
can be checked and Corrected
ov.
will if practicable, save cok and labor, and
probably reduce the total loss to 4 per Mille.
With
regard to the future I append
may
a
few remarks which
our
present position.
So long
show more clearly
Exchange is low the
Bankers cannot without loss afford to pay the 2 per Cent Seignorage because the Silver (which in Chinese trading transactions
amounts to no other consideration than the
quantity of pure silver in a Coin or mass)
is just as valuable and will produce as
much tea or silk in the form of a bar
as it will when coined.
It therefore appears that the Government must for the present depend entirely on itself for the introduction of the new Coinage.
The
Mexican dollar required six years to become
established and altho the opportunity is favorable so far, the alteration of the Mexican Coinage
is concerned
the
depressed
state of trade may for a time counteract any visible advantage.
The time for commencing on
an undertaking of the nature of the Mint has been most unfortunate, the obstacles to
success in all new establishments are
sufficiently heavy and trying but in this Case the Financial circumstances of the