Republic
and the Empire, and a certain degree of latitude continues.
All the Mexican Mints (10 in number) profess to work up to that standard and stamp it upon their pieces. It is admitted, however, that a certain latitude in practice prevails, and that while Mexican Dollars are now imported into the London market as being as good as these purport to be, and being of the higher of the two standards proposed for Hong Kong as "Other Mexican Dollars", and probably a larger number of them are of the standard proposed for Hong Kong, many even appear inferior to that standard. This vagueness in the worth of the Mexican Dollar becomes of less importance as they are no better than the lower standard, and are sold by weight and not by tale.
Mr. Krider's standard of the "strong" Dollar might be recognised as an admissible equivalent for the actual Mexican Dollar, as it is found in circulation. His standard is deduced from Mexican Dollars having upon them the average amount of error in workmanship of the Mexican Mints.
Although I regret that the lower standard was preferred at the time, and the legitimate relation to the Mexican Dollar was lost, still I would not press the adoption of the higher standard as indispensable. It is a point which might now be left to the judgment of the local Colonial authorities, who can alone properly estimate the force of the objections to altering the value of the new Dollar from that which it has already been acted upon to some extent.
Availing myself of the circumstance that a large quantity of Mexican Dollars, new from the Mint of that country, have lately been sent down by the London refiners (owing to the low price), I have applied to Messrs Mocatta & Goldsmid, Bullion Brokers of the Mint, for an estimate of the fineness of the dollars, their weight being found to be a trifle under 0.8680 oz, which I beg to transmit herewith.
I have the honour to remain,
Your obedient Servant,
F. J. Elliot
The Graham, Esq., Colonial Office.