Page 361
13
The supposition of Sir Hercules Robinson that because Mexican Dollars were at a high premium for years, they must always continue to do so, has been entirely refuted by later experience. On the opening of trade with Japan, unchopped Mexican Dollars were the only coins taken at the Treasury. The effect has been that large quantities were imported and melted, so that the Chinese who are generally quite willing to trade with lumps of Silver as with coin, realized the premium on their Mexicans and made large profits in their trade operations. At the present moment, the Mexican Dollar instead of being at a premium is at an absolute discount in China as regards its intrinsic value - nor do I see any immediate prospect of this state of things being materially altered, because the Japanese, having more intercourse with the world, are no longer inclined to rate the Mexican Dollar above its true value – and propose the immediate establishment of a mint.
On the other hand, the adoption of a Silver Standard and conducting their currency in Sycee has placed the Dollars in circulation more in line with the requirements of India, and the opening up of direct communication with Mexico by Steamers, which was expected to commence via California, has also been a factor.
361
13
The supposition of Sir Hercules
Robinson that becauso Mexican Dollars.
some
(un chopped) bere a high purmium for
years,
they must always centimie to do so, has been entirely refuted by later experience. On the opening of
hase with Japan unchopped Mexican
by
Dolions were the only Coins latten the Inferness. The effect has been
that large quantities
were
imported and
nité as
that the chinese whe
willing
and generall
ཛཱ།
are
quite
to trade with lumps of Silvers
as with coin, realized the pumiime
in ther Mescicans and
own traital operations
large number
of
the trade and at the foresent moment
the Mexican Dollar instead of being ab
a.
premium is at
China ao u
is at an absolute discount in
ugards its intrinsic value - nor do I see any immediate pusfuct of this state of things bung materially altered, because the Japanew having
more interesse with the world, are no
longe inclined to rate the Mexican
Woller above its true value – and
propor
the inmediate establishment of a minh
of their
CLEV
On the other hand the adoption of
A Standard
and conducted their
A
Goo
in Sycee. The
in
this placed
Dollars this
in circulation mit the requirements of
Indin, and the
opening up of direct communication_ with Mexics by
Steamers which
au
means of the California
d to commenc
expected.
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