270
13.
3
bottom of page && the Report with the
will it answer their surpure"
wass="
Mon
and ending about the middle of page 4,
#
with the words "bine value", appears to be of doubtful import. If the
think they do, price of Dear Silver and Exper am never remain below their intrinsic
Commission mean, as we
that the
value, as compared with the Dollar currency them I have no hesitation in
saying
that I do not agree with them.-
What has kept Ioar Silver at its
instrinsic value on
the
last
two
years
this market for
has been the demand
remittance to India, and this
demand, as is well known, has been chiefly caused by the rates of exchange
for Drawers on India, being less favourable in Rupees than remitting Bullion to that quarter
frint
As soon as exchange rises to a point which will enable Banks to draw India at about 225 Rupees for 100 Dollars, remitters to India will elect to buy Bank Drafts, and the price of Dear Silver is pretty certain to fall to its mint value, and remain there,
(putting aside the question of Interest)
to receive
is open
as long as the Mint is open for coinage. When this happens it may fairly be expected that as long the British Dollar will be current,
as
so
more or less of the Dollar Silver which finds its way to this market, would be sent to the mint; or it might