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fineness of ninety per centum could not be minted except at some expense to the Provincial Government; and I expressed the fear that when it was discovered that the minting of dollars entailed loss, recourse would be had to a simultaneous re-issue of subsidiary coins or to the issue of debased dollars.
Finally I urged him to advise the Viceroy to take the opportunity of endeavouring to persuade the Central Government to deal with the situation—which is a most serious one affecting as it does not only the trade of the Provinces under the Viceroy's jurisdiction but each individual among the population subject to him in a comprehensive manner by establishing a national currency for the whole Empire.
6.
So long as the Provincial Mints remain independent of the control of the Central Government uniformity in system will never be maintained, and it is obviously to the advantage of commerce that the currency of China should be placed on a better footing.
The only hope in this direction is for the Government at Peking to exercise proper control of all the Mints in the Country, to issue some standard coin