260
the latter is as far from being the currency of the Country as at first. A striking instance is thus afforded of the futility of supposing that any form of precious metal whatever, can for any length of time be sustained above its intrinsic value! To the present day, at no other port in China than Shanghai, have Mexican dollars ever been taken to any extent of importance but by weight. for they passed from hand to hand without defacement. Why this should be so does not concern us here, it is sufficient to state it as a fact.
Ingots of Sycee are still the universal medium of payment throughout China, and into the latter, all dollars, under existing circumstances must be converted before they can penetrate into the interior of the Country and become available for the purposes of commerce.
3rd The foregoing observations render it clear that the Government unless existing circumstances be altered cannot purchase Bullion at such a rate as to make the working of the mint so profitable as to pay its expenses.
4th We conceive that the policy aimed at in this query on the part of His Excellency, would utterly fail of its object, and if pursued upon a scale commensurate with the interests at stake, would prove fraught with ruinous consequences.
5th This question is sufficiently answered by the above.
કાકા
260
the latter is as
of the Country
far from being the
currency
as at first. A striking
is thus afforded
instance of the futility of supposing that
any form of precious metal whatever, can
no
for any length of time sustained above
вес
Fast.
be
its intrinsic value! To the present day, at other port in China than Shanghai, have Mexican dollars ever been taken to any extent of importance but by weight. for passed from hand to hand without
defacement. Why this should be so does not Charash
Concern us here, it is sufficient Copper lash and
A
If defacer
вез сай
ad a
fact_
Ingots of Sycee
are
still the universal medium of payment throughout China, and into the latter,
must all dollars, under existing circumstances be converted before they
can
penetrate into the interior of the Country and become available for the purposes of bommerce.
3rd The foregoing
observations render it
clear that the Government unless existing
cannot
circumstances be altered purchase Bullion
at such a rate as to make the working of the mint so profitable as to pay its
expenses.
4th Ne conceive that the policy aimed
at in this
query on the part of Hais Excellency, would utterly fail of its object,
commensurate
And if pursued upon a scale with the interests at State, would prove fraught with ruinous consequences.
5th This question is sufficiently answered by the above.
No comments yet.
Private notes are available after approval.