Materially, 1 Government could
could never
dollars from the
for the Colonial
exclude Mexican
currency of the Colony,
unlike Hongkong dollar bore a premium
of 20%
nu
them in trade operation in China. No Merchant would conclude
transaction in Hongkong dollars which had to be paid in Hongkong dollars who could
conclude the same
same transaction
The
on th
a
Mainland by paying in Mexicans at
a cost of 20% less.
unable to see the error
the ever of
I am
calculation pointed out by Mr. Mackenzie
as
existing in my memorandum of 6th April last with regard to the exchange between dollars and Rupees. I lost the intrinsic values of the silver and
284
afforded an equal Mint charge in India and Hongkong the mention of sale in the Bazaar appears therefore quite irrelevant.
The
question of the cost of producing
Hongkong dollars as
against those of Mexico
is very important and though Mr. Mackenzie does not perceive it, I believe that Mexican dollars can be produced at a
very much
cheaper rate, in fact almost as bar silver - Mexico being a silver producing country the silver ore in all probability go direct from the mines to assaying & refining house attached to the Mint- The process of refining, melting, and
assaying
is the
same
for bar silver as for
and the cobra cost-
containing and the
a can in lead
veta
of producing
of a bar of silver ofte