1850 — Page 106

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