charge of 1% it is certain that lex- ican dollars will gradually disappear from circulation in Hong Kong, and the Louth of China. The new coin cheaply obtained will take the place the old one (i.e. the Mexican
of
Dollar).
I most shongley
mand that no
recor
special legislation
in favour of chopping be enacted,
but that Britiole dollars be declared
1 legal
tender by count, concurrenty
with Mexican dollars at 7.1.7.
You will have noheed
that at the General Mecking of the
Chamber of Commerce a revolution
maminously carried against
chopping British dollars. British
dollars by
count are
slightly
valuable than what we now call
follows:
1000: Att. Currency $ - migh 7177 Jacks } according & our scales taking hi tr
1000 Arition. I hill migh
717.60
as 416 grains - the wright of a yen or
a differen de
10836 her cunt
currency, viz: 917 fuels for 1000 chop. ped dollars the differencs is barely
quator of one per cent, and as I
سنسو.
said
ل
TREASURY
P10096
EL JUL 95
218
said in the foregoing, Mexican dol lars being only obtainable at a price considerably over their value they will
in the courve
of time disappear, and
unchopped British dollars will take
their place .
Some
when Mey-
years ago
ican dollars were almost alway's
oblairable about their bullion value
it would not have been prudent to
write so.
confidently about their being displaced by the Brition dollar. The position
position is now
long
changed,
and so
as the Mexican Government
charge a seigniorage of 4/2 per cent on Mexican dollars as against an export duty
on Bar Silver of 2%,
Mexican dollars will be handicapped
1/2% against British dollars.
I show this as follows:-
Mexican Bar Silver 2% duty, coined
into British dollars at a
seigniorage of 1% total 3% as against air export
duty