24
233
25
with iron duct and sand; and the price of it in the Canton Market at present is about $1.35 each.
For a tael, 970 cash is given for the Mexican Dollar. The lack of standard currency is due to the Government not issuing it to the Public but only to the Imperial Troops, and the issue is made to them at the market rate, except that for every 100 taels issued, they are given at the rate of only 1,000 cash, thus causing a slight loss to the recipients.
The value of the cash in the Canton Market is fixed daily by the money brokers who meet in conclave and determine the price, which, as far as I can learn, appears to fluctuate above the intrinsic value of the Coin according to the supply of it in the market.
7 Specimen of Each.
15 I forward with this despatch specimens of the cash issued by the Chinese Government in each reign since the commencement of the present dynasty in A.D. 1644, an inspection of which will at once show the manner in which their coins have been depreciated, especially during the present reign.
16. By Chinese Law, payments are made at the rate of 1,200 cash for one dollar, but as 970 cash is given for even the present depreciated Mexican Dollar, it is equivalent to about one Shilling Sterling.
...
Page 25
...
...
24
233
25
with iron duct and sand; and the
price of it in the Canton Market
present is about 1358 each
ffor
at
a tail.
970 for the Mexican Dollen. Sie lack
thus
Government is not
made by the Governm
issued to the Public but only to the Imperial
Troops, and the issue is made to them
at the market rate, except
that in
every
}
100 tails & are issued at the rate of
only 1,000 cash
thus causing a slight lour to the recipients. The value of the cash in the Canton Bracket is fixed sexily by the money brokers who meet in conclave and determine the price, which
as
for
as
I can learn appeas
to fluctuate above the intrinsic value the Coin according to the supply of it
7 Specimen of Each.
of-worth
in the market
15
I forward with this despatch
the cast issued by the
stecimens of
chinese government in each reign since
the commencement
F
the present i
inspection
Modifnasty
dynasty in A. 9. 1844, an
of
which will at once show the
manner in which there coins have
been depreciated expecially during the present reign
By the existing Proclamation
16. By chinese Cack
to the extent
of
are
made
a
igul
Fender
one Shilling Sterling
at the rate of 1,200 for one dollar but
as 970
070 of even
of
even the present reprod
No comments yet.
Private notes are available after approval.