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Imperial or colonial Government, of course it was the latter.
and that of ... out of my power to permit the ...
It appears that both Mr. Arbuthnot and Sir Hercules Robinson “relied greatly on that means of finding employment for the Mint, it is evident that one of the principal grounds for anticipating the success of that undertaking has been proved illusory by experience.
10.
It is moreover wholly inconsistent with the history of Commercial transactions in China to assume, as Sir Hercules does, that the dollar is the only coin, in the sense in which he applies the term, by which the settlement of all commercial and financial transactions "can be effected throughout the whole Sea Board of China and Japan." If that observation has any bearing on the question, it must be by implying that the dollar, as a dollar, is a sort of necessity, or the sole medium of Exchange. But if that be not Sir Hercules' meaning, the remark is irrelevant to the argument.
It is very important, however, that Your Lordship should be convinced that any such argument is a delusion. It is founded on assumptions absolutely contrary to the permanent practice of Chinese trade and the Ancient Customs of the Empire. When the dollar is used, it is no longer treated as a coin accepted as representing a particular value - which is the inference from Sir Hercules' observation. It is, on the contrary, taken as ...