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Article VIII of the Mackay Treaty, it was obviously
essential to him to be able to show that his Government was giving effect to the other articles of that
document, which have hitherto remained under consideration.
Though the present measure is a step towards
the fulfilment of Article II of the Treaty, it does
not require specialised knowledge of the subject to
perceive that there are several important omissions
in the enactment. of these the chief is that no
ratio is fixed between the copper currency and the
new tael coinage, and the second that no indication
is given as to whether the new coins are to be issued solely from mints under the direct control of
the Board of Finance.
Without provisions upon these
two points, it can hardly be said that a national
coinage is likely to result from the present Decree,
though it is possible that the Board of Finance will
safeguard the interests of the Central Government by
a supplementary enactment.
(Signed)
I have &c.,
J. N. Jordan.
edojunĄ
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