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Colony of Hongkong would derive from being the seat of a Mint, (and which we as American Merchants would regard with significant satisfaction) one of themselves, considerations of sufficient weight, perhaps, to warrant the hope that Her Britannic Majesty's Government would not hesitate in view of the necessary outlay for such an establishment.
But your Excellency will probably regard the following figures as proving that, if the Chinese accept a new coin; they are not likely to demur to the payment of an ample seignorage for the boon.
At Canton, during an average year, 105 Taels weight of Mexican dollars are sufficient to buy 100 Taels of Sycee (Pure Silver). But 112 Taels weight of the same Coin are required to make 100 Taels of Sycee - The difference of 7 Taels, or nearly 7 per cent, is, therefore, the premium ordinarily paid for the advantage of refined Money.
At Foochow, about 101½ Taels of chopped dollars buy...
24
r
Colony of Warghing would
rive from being the seat of a
derive
Mint, ( and which we as Americam Marchants would regard with
C
sinfignet satisfaction) une of themselves, considerations of sufficient weight, perhaps, to warrant the hope that Her Kritannia Majsky's Government
would not hesitate in view +
of the nexessary outlay for such
an establishment.
But your braellency will probably regard the following figures as proving that, if the chings accept a new com; they
13325.
Ore not likely to demur to the payment of an ample seignorage
for the boon.
At Canton, during
Average year,
an
105 Tarts weight
of Mexican dollars are sufficient to buy 100 Facts of Lycee (Live Silver ) But 112 Fac, weight of the same
Com are required to make 100 Tests of Ang
of Sycee - The difference of 4 Fasts, or nearly 4 per cent, is, therefore, the premium ordinarity paid for the advantage of r
comed Mmey.
Ot Frochou, about 1014. Trots of chopped dollars buy
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