24
"
558
13
He speaks of demonetizing both the British
and Mexican dollars, but that for a time during
the period of conversion a dual currency
-lars and sovereigns must exist. He alludes
to professional men collecting their fees in
sterling to be paid in dollars at the rate of
the day.
dol.
The Chinese day labourer to be paid in
pennies, but if he does not like these in native
coinage.
All existing coinage to be done away with
and replaced by sovereigns, shillings and pence.
Gold certificates to be issued against a gold
reserve in London if it is feared the Colony may
de depleted of its gold coinage.
st at aments.
It is difficult to reconcile these various
Nor does Mr. Osborne attempt to
enlighten us as to how payment is to be made in
China, for produce, if we have no dollars or
sovereigns but only gold certificates.
A few words should be said with regard to
the coinage. Whether the dollar is to be demonet-
-ized or whether we are to have a fixed ratio
between silver and gold a considerable sum will
have to be expended or rather lost
ww
by some
one during the period of conversion. It is not suggested that the individual should stand this
loss; therefore presumably the Goverment will
be asked to do so. How much conversion will cost
depends largely upon the method adopted for the
}