skillfully that they lose at least 33 per cent in the fees. Therefore it might suit them to pay the same amount and receive in return coinage more suited for mercantile transactions-based on their own Currency_more comfortable and more convenient in every way. On the contrary the contingency should be borne in mind of the Singapore Government declining to pay charges which would entail a loss of 2 1/2 per cent at present on the purchase of bullion_merely to have one coin instead of another and I fear Your Lordship's well meant offer may prove fruitless for those reasons...
9.- I am very sorry to state that His Excellency Rutherford Alcock informs me as the result of an interview with Prince Kung that there is a very great disinclination on the part of the Imperial authorities to receive a supply of even small pieces at par. Nevertheless, I hope soon to forward two or three hundred of the coins such as he has seen specimens of, and dispose of them at least for their value in bullion, the loss will be insignificant, and an opportunity will be afforded to the Chinese authorities of reconsidering the matter, and I have...