only these coins in exchange for their produce, and because they, at that time placed upon gold; as compared with Silver, a value far below that which the former metal bore in most other parts of the world. In 1861, 1862 and 1863 also, great expansion of the Export Trade of Shanghai took place, due mainly to the opening of the River Yangtze, and to shipments abroad of cotton, an article previously exported only coastwise. Under these circumstances, the existing circulating medium of Shanghai and the neighbouring Silk Cotton bearing districts, of which by a singular exception to all other parts of China, the Carolus Dollar, if undefaced, formed a large proportion, proved utterly inadequate to the requirements of trade, the results of which were that the Carolus dollar was driven to a fictitious value of, say thirty per cent above its intrinsic worth, and the Mexican Dollar, as far as found practicable, was introduced to fill the vacuum so created, but this attempt was never very successful, although the hopes which it excited enhanced for the time the premium to which the Mexican Coin was raised, and now that the Japanese have become important consumers of European Manufactures, the final result of all is that the Carolus and Mexican Dollars are of nearly the same value and that the so-called dollar was, must value vie Intent Calentatio at 4/3.
only these coins in exchange for their produce, and because they, at that
time placed upon gold; as compared with Silver, a value far below that which the former metal bore in most other parts of the world. In 1861, 1862 and 1863 also, great expansion of the
Export Trade of Shanghai took place,
due mainly to the opening of the River
Yangtaze, and to shipments abroad of
botton,
an article previously exported
only boastwise. Under these
circumstances, the existing circulating medium of Shanghai and the neighbouring Silk Hotton bearing
districts, of which by
a
singular
exception to all other parts of China,
being whet
the heave
259
the Carolus Dollar, if undefaced, formed
a
large proportion, proved utterly inadequate
to the requirements of trade, the results of which
were that the Carolus dollar was driven to the fictitious value of, say thirty
CLO
per cut above its intrinsic worth, and the Mexican Dollar
far as found practicable introduced to fill the vacuum so denoted,
but this attempt
was mever
very successful
although the hopes which it excited enhanced for the time the premium to
which the Mexican Coin was raised, and
now
that the Japanese
Japanese have become
European
important consumers of
Manufactures, the final result of all is
that the Carolus and Mexican Dollars
are
Faled that dollen was, musi valer vie Ittent
Calentatio at
4/3. But th
*
of nearly the same value and that
the so calend
ques on the
- which
dest let p
Corn
A
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