is likely to be ready to bear this expense :
the Hong Kong finances are in no condition to undertake experiments. Stick Lord Camaroon should invite the local Govt's Special attention to the paragraph at the bottom of page.
Lunde, but it will always be rather hard to get to the price of laying down. Italian lire are 4 a dollar in Hongkong, they might come in Italia to confer with the Calcutta mint to see if the article could be manufactured for sellers cheaper there than at Birmingham.
Hope the supply of Mexican dollars and other silver will be on hand. What will he do when an hundred dollars should fail, I think the silver market should appear such as to be favourable for making an experiment, I think the Straits Govt should be associated with Hongkong so as to make the risk larger.
Assuming such a coinage is not impossible, I do not feel altogether with M. Fremantle as to the inexpediency of resorting to other sources of supply besides Mexico; the Yen dollar must of course be put out of the question, in the face of the almost unanimous objections of the different Banks; but as both Trade dollar and Treasury exacerbate the difficulties & ills that would attend its introduction: the difference in value on the right side, if it was less than that of the Mexican dollar it would of course be one direction to debar the currency, but being its value is greater, it would only be likely to set into circulation if the trading world could import it from San Francisco cheaper than the Mexican via England from that continent.
I understand this is to a certain extent the case. The difference in value is 420: 416 nominally, it is said that in practice the Mexican dollar is unclean, tending to excess, so that the practical difference is less than 1 percent; & it appears the fact.
Much stress is laid on the words "equivalent rate" in the Order in Council.
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