CO129-051 - Sir Bowring - 1855 [7-9] — Page 240

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persons- tos numerous in the Colony and in some of the Ports - who harbour seamen and traffic in their hiring. The enormous rate of wages paid by the mercantile Marine, and the deteriorated quality of marry of the Grews - attributable mainly to the state

–

of matters in California and Australia - ncccesarily

weaken the hold

give

the Mariner. upon much trouble to all the

functionaries officially connected

with shipping-

Interest.

allt.

14.

My attention is called to

through the bricutal Bank Corporation.

for

the Balances which

now remain

in the Treasurer's hands. There however, growing

be difficulty

may

rt

of the fact that the Government has a currency of it's own, in which,

of

Kipt.

in my judgement most abundly and unwisely the Pound Sterling Sovereign is made the Standard the Legal tender, and in this Pound Sterling the Public Accounts are Now as gold has us currency in Chine -and the Sovereign is sometimes depreciated as much as 30 per cent. and almost invariably cubject to a large depicciation,_ it is clear that the Public Service and the duperial

the possibility of obtaining deterest

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