CO129-051 - Sir Bowring - 1855 [7-9] — Page 241

36.

Treasury are prejudiced to the whole

amount in which a non-current

erin is forced in circulation by breal legislation. The absurdity of

that the drafts of

superzing

the

Commissariat amounting to an Annual average of about £120,000 could requlate influence the thince bachanges which represent the whole amount

of

of

o even

perceptibly

Comancrce and a yearly circulation about. Forty Millions Sterling, I

have is

often pointed out, that it

the

is not needful again to go over ground. The currency of Aoughing conferredly regulated in the

was

belief that chinese mercantile

236

operations would be cubjieted to it and the Pound Sterling become the universal Standard. The consequence

has been a coustaut lose to the Treasury of all the difference (excepting that portion paid in Salaries to Public Tervants) kitween a Mimary

Official value

aud

given by the Currency

Ordinances to the circulating

Medium - and the real Commercial

value of that

currency (dollars) in which all accounts in the Colony

are kept,_ with the solitary cxception of those of the public.

15. No greater Service could be

rendered to our Commercial