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04
Coinage: Imperial Decree of May 24, 1910.
Last year a Memorial was presented by the
Board of Finance urging the importance of reforming the coinage
of the country. It was referred by us to the Reform Counc11 with instructions to consider and report on the subject, and acting on their subsequent recommendations We ordered that a
bureau be established in the Board of Finance to examine into
the monetary system of China. We have now perused the regula- -tions draw up by this Board for the reform of this system,
as well as the measures they suggest for dealing with the currency now in circulation and We pronounce them sound and
practicable and consider that they should be clearly promul-
-gated for general information.
The basis of Chinese currency is hereby
fixed as "the dollar", of which the standard shall temporarily
be silver, and of which the unit shall be a dollar of weight
seven mace and two candareens. Subsidiary coins shall be as
follows: silver, fifty cent pieces, twenty-five cents pieces,
and ten cent pieces; nickel, five cent pieces: copper, two cent,
one cent, half cent and one-tenth cent pieces; in all three
silver, one nickel, and four copper subsidiary coins. The coin- -age throughout is based on the decimal system, and bears a Itxa fixed ratio and value, which shall not be subject to arbitrary
fluctuations.
We hereby command the Board of Finance
to direct the various mints to strike at once the several
new coins according to the prescribed weight, touch and design,
and to issue these coins as soon as a sufficient quantity shall
have been minted. They shall then be legal tender for the pay-
-ment of all taxes, duties and likin dues whatsoever, and all government paygents shall be made in the same. The Ta Ch'ing Government Bank is charged to co-operate with the various mints
in devising a satisfactory method to smoothe over the transition
period of the coinage system.
We