eventually redeem the coin at its par value if nobody else will take it. It follows that, before
22.
subsidiary corn Cau become a worn, it must have passed from hand to hand at a constantly decreasing value. The last holder would lose nothing by the refusal of the Government to redeem it at par; love nothing for he would be bought up speculator would have the coin at its current value,
23.
Money has no existence in China. At home a baker sells a sixpenny loaf for sixpence, and on coin, however old, shall be genuine. In China, however, there are two elements to every bargain (i) the price of the goods (ii) the price of the currency.
24.
All Bronze cash are the only coined money of China. They appear to date from the reigns of the earlier Emperors of the present dynasty, and are naturally much worn as they got much knocked about. Nominally 1000 go to the Tael, but nobody ever thinks of accepting them at anything but the market price, which varies from day to day, and according to the condition of the coin. That there should be any government department which would lend pure silver for any of these coins would strike the Chinese trader as an altogether amazing state of things. The Chinese Government would certainly not redeem these coins, nor accept them in payment of dues.
It will be seen
25.
that Chinese coins on the mainland of China do not expect the redemption of subsidiary at their par value. They take them,
14.
eventually redeem the coin at its par value if nobody else will take it. It follows that, before
22.
sulzidiary
corn
Cau
become
a vorn,
it
i must have paceed from hand to hand at a constantly decreasing value. The last holder would lose nothing by the refusal of the Government to nicm
a
l com
comic at
doubtful
even a
par; love wothing for he would
we bought up speculator would have the coin at its current value,
23.
Money
has
ao
money
no existence in China. At home
baker sells a sixpenney load for
sixpence,
look
A
only acks that the
and on
coin, however old, shall be genuine. In Chino, however, there
are
tios
element to every bargain (1) the price of the goods (ii) the price of the currency.
24.
all
Bronze cash are the only coined money of Whina. They appear to date from the reigns of the
earlier
209
earlier Emperors of the present dynasty,
are
and they and broken, as
naturally much wom they got much _
Knooked about, Nominally 1000 goto the Tael, but nobody
accepting
ever
thinks of
them at anything but
the market price, which varies __ from day to day, and according to the condition of the coin . That there should be
OL
government department
a
fael
d five. thousand cash.
any
my where which would
for any of pure silver
lendered to it would strike the Chinese trader as an altogether
amazing state of things. The Chines Govern. ment would certainly not redeem these coins, 1 or accept them
in
pay meent of dues.
It will be seen
25.
that Shinese
Orr
therefore
the mainland of
or count upon.
coins
China do not expect the redemption of subsidiary at their par value. They take them,
a
التصميم
No comments yet.
Private notes are available after approval.