and at Hongkong (and it's effect on their inter-local exchanges) instead of in the general Market of the World, that I doubt the value of the inferences he draws as to the future of the Wongsong/Mint; and I
need not remind you of the effect on the demand and value of silver caused by the Avar in Americas, nor of the present drain of silver from China for India created by the existing deplorable financial disendit.
Apart from principles however, there are errors of calculation which interfere materially with Mr. Rennie's reasoning.
In estimating the countervalue of $100 in India, where he makes the equivalent value Rs. 229.11 less freight and insurance Rs. 223.7 "including Mint charges (which as proposed are about equal) on both sides", he overlooks the fact that if the coin is passed through the Mint, the charges must be paid, while if sold in the bazaar the value is fixed by the Known Mint outturn. The real equivalent therefore of $100 Mexican is in India: Rs. 218/4 to 219, a result that upholds his argument about the rate of exchange, showing no change necessary to prevent the export of silver from Hongkong to India.
Again he makes a calculation of the equivalent drawing rate of Hongkong compared with the value of a Rupee in India in silver brought from London, of which I fail to see the connection.
and at Hongthong (and it's effect on their inter-local exchanges) instead of in the general Market of the World, that I doubt the value of the inferences he draws as to the future of the Wongsong/Mint; and I
your
of the effect on the
need not remind
demand and value of silver caused by
the
Avar
in Americas, nor of the
of the present drain of silou from China for India
created by the existing) deplorable I financial disendit.
stive
Apart from principles however,
are er err
of calculation which
interfure materially with Mr. Rennies
reasoning.
In
estimating the cuttern of
$100 in India, where he makes the equivalent value Rs. 229.11 less freight
and insurane
278
Rr. 223.7 "recluding
Mint charges (which as proposed
ari
about equal) on both sides", he overlooks the
Mint, the
fact that if the corn is prafed through the
re must be paid, while if sold in the bazaar the value is fired
by
iguerage
the Known Mint outturn. The real equivalent cherefore of $100 Mexican is in India: Rr. 2.18/4 to 219,
a result that
uprod's his argument about the rate of
ло
no change necesary to prevent the export of silver fran. Hongkong de India.
the
Again he
he makes
A.
calculation of
equivalent drawing rate of Hongting compared with the value of a Rupeer in India in silou brought from London, of which I fail to
see the connection I
No comments yet.
Private notes are available after approval.