My Lord:-
TOKIO, April 1st, 1897.
I have the honour to report that the Coinage Bill, of which the draft was enclosed in my despatch No.44 of March 3rd, became law on the 26th by an Imperial Rescript, and was published in the Government Gazette of the 29th ultimo. No alterations were made during its passage through the Diet, but as the wording of the translation already forwarded to Your Lordship seems inaccurate in one or two places, I beg to enclose a corrected copy.
The amount of silver 1 yen pieces in circulation in the country is estimated at $30,000,000 besides those in the vaults of the Bank of Japan. It is supposed that the quantity that may be re-imported from abroad to be exchanged into gold is not likely to exceed $15,000,000 at most; this, however, is not likely to happen unless silver should fall sufficiently.
The Marquess of Salisbury, K.G.
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