CO129-089 - Public Offices - 1862 — Page 320

317

in

оч

Spanish dollar which is to be dealt with,

and also that the silver piece the 10 Centr required by the Governor already exists

the Spanish double real, it is suggested that a quantity of the last -named piece,

of the real (5 Cents) and double real should be procured and transmitted to Hong Kong. Small Silver money is representect as very scarce in Spain, but I have reason to believe that such an amount £2000, Could be procured at present from the Bank of

More

Madrid at little Carriage and insurance.

a et

than the Cost of

The small Spanish Pieces of Silver referred to are coined at their intrinsic value. An important point, at present doubtful, would soon be settled by thee- issue at Hong Kong. Could such Coins be retained within the Colony ? As dollars Circulate there by weight and very

much as Bullion,

the danger to be apprehended is that the small pieces would come to be used as make-weights rather

and be dispersed in paymentes

than as money,

-made beyond the limits of the Colony. This accident would be inconvenient but not attended with preuniary loss. -

า

Over he

mall pieces could be preserved, then it might

be considered whether

British

corresponding

British Dollar,

ac

preces, with perhaps

might not be struck, to maintain the circulation, at the same rate of Comage. On the other hand, if the small Coris, disappeared then Government could turn to the alternative of a Silver Comage like the Brition circulating at a rate above); it's intrinsic value. - As proposed by

the Governor the small pieces, under a dollar. could be coined of proportional weight- but of leve fineness than the dollar; or,

less what would be better. I believe, of the Standard fineness of the dollar (7/0) but of less proportional weight. Why not by a token Comage, such as this, in the first mistance? The answer is that it is

• very doubtful whether a Silver Coinage that principle would be properly

appreciated by

the Chinese - From their knowledge of Assaying the lowering of the Standard, if practised, would be immediately discovered by them;

one

ww

them; and

reduction, in weight would be still more obvious. They would be too apt- to rate the new pieces at their intrinsic

value, and so destroy their are

money

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Secondly

If it was found that the Spanish

Imall

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