CO129-039 - Sir Bonham - 1852 [1-12] — Page 198

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quection, they have in adopting

mercantile

1

mage as

the basis

their calculation, simply reversed the

state

斤

the case; for,

in which they

عامة

a

the coins

paid represent the

full sterling value of their Salaries

nd are

always available as such

esen in this market without requirius into Chinese currency,

4 be exchange.

they have I think fallaciouch asuneed fat there coins fluctuate while in realit the fluctuation is rule applicable to those of fictitions value like the Shanish dollers. –

With respect to the accumption hat the Government gains at the expence of its servants in buying depreciated coins by the negotiation of Treasury Bills, I feel quite at a loss to discover how such a conclusion is arrived at when the

frets of the case

193

give a totally different result. Diving

the absence of demands

for

bills on

of England on to the prevalence of specuire

rates of exchange, nearly all the __ mones required by this department haw for a long time part been raised by drawing upon didia for Rupees; and

there Rupees are

as

charged at two

pard away

shillings cach while they are here at one shilling and ten pence,

the

consequence is a love to the Goremment of from six to seven pir Cent even with an allowance for the small premium, which no bills sometimes bear in the local market.

This loss has certains not been

is great

as would have been the case if the proceeds of bills had been required in Spanish Dollars, nor have the Servants of Government gained much as they would have done if

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