and at Hongkong (and it's effect on their inter-local exchanges) instead of in the general Market of the World, that I doubt the value of the inferences he draws as to the future of the Wongsong/Mint; and I
need not remind you of the effect on the demand and value of silver caused by the Avar in Americas, nor of the present drain of silver from China for India created by the existing deplorable financial disendit.
Apart from principles however, there are errors of calculation which interfere materially with Mr. Rennie's reasoning.
In estimating the countervalue of $100 in India, where he makes the equivalent value Rs. 229.11 less freight and insurance Rs. 223.7 "including Mint charges (which as proposed are about equal) on both sides", he overlooks the fact that if the coin is passed through the Mint, the charges must be paid, while if sold in the bazaar the value is fixed by the Known Mint outturn. The real equivalent therefore of $100 Mexican is in India: Rs. 218/4 to 219, a result that upholds his argument about the rate of exchange, showing no change necessary to prevent the export of silver from Hongkong to India.
Again he makes a calculation of the equivalent drawing rate of Hongkong compared with the value of a Rupee in India in silver brought from London, of which I fail to see the connection.