367
converted
Adding the hint charge of 2%. It follows that Sycee cannot be profitably melted until the premium falls to about ½ d. The ruling price at present is about 8 d.
Omitting Mexican dollars from calculation because no advantage could apparently accrue to the holder from their recoinage, the question simply is, Is the premium on Sycee likely to fall so low as to make a profit to be made in its conversion into Mexican dollars?
Upon this it is necessary to consider what it is that affects the price of silver in Hongkong, and I think it may safely be taken to be the rate of exchange on India, which is regulated of course by the consideration of whether it be more profitable to pay India for the Council Bills on London or to remit by specie remittances.
If we remit, we must consider what the out-turn of it would be at the Calcutta Mint. In comparison with...
A Rupee in weight and fineness of 916.66 contains 165 grains of pure silver and therefore 1000 grains of silver of 17/20 fineness would convert into Rupees 3500.125. Comparing this with Hongkong dollars we find that $100 are equal intrinsically to Rupees 237.11. Freight, interest, insurance to India may be taken as about ½%.
367
converted
dding the hint charge of 2 of it follows that Syrer cannot be profitably mutil the premiuw falls to about b/1⁄2 of. The ruling price at present is about 8 fc.
Omieting Merican dollars from
calculation because no ad
apparently
advantage could
accrue to the holder from
their recoinage
the question simply is.
uw on
Is the premium
natural
en able
CANVI D
silon likely by
to fall so low
Ao
Ле
a profit to be made in its conversion
mite dellars?
Яс
Meow
upon
this it is nee
is necessary
le consider what it is that affects the fire
of silen in Hongthing.
and I chinist whis
may safely be taken to be the rate of
no change
on
India, which is
regulated
of course by the consideration of schecher it be more profitable to pay India for the
Opinn
by Bills on London or
we revive by Bill
by specie remittances.
bellion
If ove remit
we must consider what the >
out turn of it would be at the Calcutta Mint in
comparison with
=
Molah er téc
grains
OVM) –
A
Ruper
in weight wish.
A
fineness of 711.66. at this rate the Ruper
contains 16's
grains of pure silver and therefore sece to or $99860 grain of lav
1000
silon of 17. beturress would carvut into Rufus 3500. 125. comparing this wint Hongting Fellows are find that $100 air equal intrinsically to Rupees 237 11- Freight interest, mamamed 15 to India
may
samecher about 1/2 of.
be lasten as somer
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