49
the repugnance
of
the latter more
fully
-private
described by Sir Rutherford in a
communication to the establishment of any
silver
24.
Jam
currency. On that subject I may remark that
I am nevertheless still intending to transmit
to Sir Rutherford for distribution a few dozen Tael pieces coined here because I think it a duty to exhaust
every effort to induce the adoption
by the Chinese of some Silver coins as medium of Exchange;
No 185 of the 11th last
my Despatch
and in
January
I stated
some
reasons
for supposing it possible that the
Chinese might be induced to
accept
Tael
pieces
with
favor, as representing the unit
by which they keep their accounts, and also
because, when they melt our Coins into sycee
and bars, they do so in a
wasteful
manner
entailing a loss equal to the seignorage charged
by the Mint.
25.
I
am
bound
to add that I
cannot yet report the
result of this further experiment. I enclose Mr Kinder's explanation of the delay.
I am
bound however to add that increased information
leaves
me little hope of a successful result. It
appears that the Tael is a
variable weight,
differing slightly in the various provinces of the Empire. Again I believe that the whole body of Chinese Officials throughout the
Empire
is interested in
maintaining the present
barbarous system of payment by
mere weight, because under pretence of light weight
or
Silver of inferior touch being offered,
they
also
obtain
by means of scales adapted to the purpose
a douceur?