tio
„neulattiam
4
Junipeg må ruta valo si ham sanivas dwi .bronce czaridů to "EL TOT
Plove no trete ama od oval melv to Minut
Jemuts to dovod zorul a és orvesori aynis
ww medit dood two to
mut yffroitazotan ni aj vinma do d
-
8 10
-
Elo niffee bus gube
kim mai puď mid-
for
wd of ex not redene i di thamau tumpas, mid JA
gindu zelum has „Alga fine od m
There are two good reasons for not doing so:-
557
1. The effect would be to depress exchange artificially and the volume of business on one side would soon cause a reaction. We could not continue to receive silver dollars which could be import- -ed at say 1/8 at par with notes the purchasing price of which was considerably higher.
2. By Government regulation the Bank is required to deposit dollar for dollar the equivalent of every additional note which we issue, and we have to reckon with the fact that some day these notes will come back leaving us with a mass of silver which might
and probably would involve us in heavy loss.
-
Notes come back to us without any silver dollars going out, they return in the ordinary course in payment for import business &c. Our note circulation has dropped about $10 millions at times without a dollar leaving us.
-
A nu arev bise
with ma Meir
+
+
ali da prijatejo jd stizne$25
yi sore »i jurkojaro? ent
prodín Wie dwodo el ezendorā vomit
de bien në vê seit dri wad ad of Mlog si mi mielit ar
raje od ter
+
Tevile pë
迹
F
Note:-
The large minting of coins in China has agravated the
situation by depreciating the value of the silver dollar. For
instance the cost of coining a British dollar today and laying it
down in the Colony would be about 1/8%, whereas they (British or
Kexican dollars) can be bought in Shanghai and brought here at a
cost of 1/8 per dollar.
British and Lexicon dollars in Shanghai are the same
price in the market as the Provincial coins minted in China.
soy
54. M. J. Stabb * June, 1915.
95
„Farate mi
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