369
100 dollars would give (opp) per dollar. Adding to this, interest for the six weeks voyage to England and six months usance.
s. d.
AQ
The
have nearly 4/9 per dollar equivalent drawing rate from Hong Kong. I therefore infer that it would be necessary for exchange on England to be at least 4/9 in order to maintain such a rate between China and India as to make it profitable to have dollars consigned.
The Indian exchanges during 1865 averaged
By Bombay R. 217. To per $100
Calcutta R. 219.1/2 per $100, and only during that year passed Rs 220.
By the last mail the exchange on Bombay was R. 219.
The impression with which the trade was left must be that it was not profitable to import dollars.
It cannot be realised in the early stages of the trade, because it was not the chopped dollar (the currency of Hong Kong) that was at a premium but the clean Mexican dollar which is used in the commerce between China and Japan.
Hong Kong dollars cannot at the outset be expected to do more than supersede the currency of the place, and a premium on clean Mexicans will not therefore help us until our dollars are sufficiently known in China and Japan to be taken as freely as clean Mexicans.
Curiously enough, however, at the present moment dollar is scarce...
369
100 dellan would give (opp) per dollar. adding to this, interest for the six weeks
voyage to England and sive months usomed
and
s. d.
AQ
the
have nearly 4/97 per dollar equivalent drawing rate from Hongting. I therefore follows that it would be
: suusary for nochange on England to be
0.
at least 4/9
a
par
order to maintain such
between China and India
as
to maste it profitable to have dollars cons
The Indian wchanges during 1865.
d on B
averaged
cw
anw
By
Bombay R. 217. To per $100-
Calcutta R. 219.1/2 per $100, and only
placer
during
that
year passed Rs 220.
the last mail the exchange on back
was
R. 219.
1
The impresion with which the bind
Was
dellan
it must
CLA oren,
originally sailed that because Mucisan an wore at a high premium be profitable to com dellar of cannot be valised in the early stages of the brink, because it was not the chopped dollar (the sevency of thongting) that was at a premium but the clean Mercian dollar which is used in the commuce
China and Japan's longting Fallan cannot at the auts it be expected to do
more than supersede
au
arew
Ferrrency-
of
and a premium on clean Mexicans will
not
and
therefore help us until a
our deltai
sufficiently known in Chino
Aa
and?
Z
the
Japan to be laver as freely clean hurricans. Curiously enough howwn
at the
preant
manent dollar
scarecly
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