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Two mace and one candareen pieces are proposed as subsidiary currency.
We propose that there should be 1 mace and 5 candareen pieces, as subsidiary currency.
These coins will in the future take the place of the 10 cent and 5 cent pieces of the past, and will prevent the rise of prices or difficulties in the daily life of the people, besides forming part of our preparations for a gold standard.
As regards the national dollar coined by the Board of Finance the year before last, as an experiment, the intention was to make use of this coin temporarily, as being known to the people and easy to establish.
If a uniform currency is to be sought, the standard can only be fixed after far-reaching investigation, and the present memorialists have formed the conclusion, after carefully weighing all considerations, that the long-established use of the tael and its fractions - the mace, candareen and mil - can hardly be altered or abolished.
The most suitable weight for the standard coin will be the K'u P'ing tael: and as regards fineness, it will be remembered that from the minting regulations...
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