Reference: C.O./133
COPYRIGHT PHOTOGRAPH - NOT TO BE REPRODUCED WITHOUT PERMISSION OF THE PUBLIC RECORD OFFICE, LONDON
210.
Spanish Dollars would have been subject to much disadvantage had they not been able, with the ready assistance of the Oriental Bank, to succeed in depreciating the current value of the other legalised Coins to fourteen per cent discount in exchange for their Bills and goods; depreciation which has extended to dealings in the shopkeepers and purchases in the Bazaar at Hongkong. There is scarcely a valid reason why Spanish Dollars should be at a premium as above exemplified, but none whatever why the other coins, particularly Mexican Dollars of mine intrinsic value, should be at a discount in relation to their sterling standard. But so it is.
The Merchants will not supply shopkeepers with goods excepting upon these terms of payment - 2/1, the shopkeepers in their turn retaliate on Customers, and all persons receiving pay at sterling rates have consequently been subject to a serious loss either in parting with their money at a depreciated value, or in being charged more for the Articles they have been obliged to purchase. A loss which has given rise to much discontent, particularly amongst the Troops in garrison, while unfortunately, there does not appear to be any remedy for it.
Though Hong Kong is closely connected with Canton, it is not surprising that the former should succumb to the latter, the place where the great bulk of Commercial business is transacted, where the governing principle of...
PUBLIC RECORD OFFICE
Reference :--
C.O./133
COPYRIGHT PHOTOGRAPH~NOT TO
BE REPRODUCED PHOTOGRAPHIC-
17 ALLY WITHOUT PERMISSION OF THE
PUBLIC RECORD OFFICE, LONDON
210.
Spanish Dollars would have been subject to much disadvantage had
they
not been able, with the ready assistance of the Oriental Bank, to
succeed in depreciating the current value of the other legalised Coins
jran
lon
t.
to fourteen per veut discount
in coeliange for their Bills and gords;
depreciation which has extended
to dealings in the shopkeepers and purchases in the Bazaar at Hongkong.
There
scarcely
2
R
reason, though valid one, why Spanish Dollars should be at a premium as
above exemplified, but none whatever why the other coins, particularly Mex- ican Dollars of mine intrinsic value,
should be at a discount in relation to
their sterling standard. But so it is.
The Merchants will not supply shopkeepers with goods excepting upon
2/1,
these terms of payment -
107
the
shopkeepers in their turn retaliate
Customers
and all persons
receiving pay at sterling rates have consequently been subject to a serious loss either in parting with their money
at a depreciated value, or in beeing charged more for the Articles they have been obliged to purchase. loss
which has given rise to much
discontent, partion Carly amongst the Froops in garrison, while unfortunately;
there does not appear to be
remedy for it.
a
any
4s closely connected
Houghing is esc
with Canton that it is not surprising
ti da
до
in all matters of conventional
for the former to succumb to the
batter place where the great bulk of Commercial business is transacted. where the governing principle of
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