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exchange laid down in Section XIII of these Regulations to
change calculations once made in Taels into those made in
dollaro. If after alteration of the currency denominations
it should happen that the amount of new coinage in circulation is temporarily insufficient, the employment for that period of
either sycee or the old coinage in proportion to its weight, touch and amount calculated in the first instance in good Treasurysilver and then in the new coinage, should present no
difficulties.
Section XVII. Within one year of the Imperial sanction of
these Regulations, all official receipts or payments, which have
formerly been properly made in "cash" or in silver reckoned on
# "cash" basis, will be calculated at the market rate of the
place on the day the sanction was received, in the first instance in good Treasury silver, and then in the new currency, and the monetary denominations of such sums shall be changed
accordingly. The same procedure will. apply in cases where
either a silver dollar or some other coin has been employed for
the purpose of such payments or receipts.
Explanatory notes:-
The change in "the monetary denominations of
such sumas" referred to in this section applies to the altera- -tion in advance of these terms in all registers, cash-books,
sgntracts 2 etc.
"The market rate on the day the Imperial sanction
is received" is fixed as a basis of calculation to prevent any
manipulation of the market by dishonest persons and to avoid all
disputes on the question of oxchange.
The procedure to be adopted has already been
telegraphed by the Board of Finance to the Provinces, with
instructions to make enquiries into the market rate for silver
and other coin in every prefecture sub-prefecture department and
district in each province and to report accordingly to the Board, who will have a list of these rates published in every
place