the Dollar; stopping of the coinage of the silver yen has had the effect of making it already worth 2 1⁄2 more; it is now quoted at 225.0d. (the intrinsic value of the gold yen Excludes silver, in Article X. There are about 25. Id. half the value of other old gold yen).
When we demonetize the Japanese Yen, as we did four years ago in Ayala, the Portuguese Rupee is less in value than this; it arises less in value than the Indian Rupee (see 12469/43).
I think we may leave it alone at the Straits, since it will gradually go away of its own accord to be exchanged for gold yen in Japan under Art. XVI of this new Law; and in the Colony, so far as I can see, no one can be hurt by continuing to treat it as legal tender there - so long as it continues to circulate.
Therefore, Mr. Johnson will do nothing.
S.W. Cowper.
I doubt about leaving the Yen to take itself. As I read the new Japanese Law, the time will come when the silver yen will cease & debase in Japan as a token. If the Japanese Government...
I. Swettenham tells me that he has heard - but cannot say in what positions - that the yen has already practically ceased to circulate from the Straits. We may defer that date until they have got in all the silver yen in circulation; a proportion, well & good. But I think Sir E. Salon has enormously underestimated the amount of yen in circulation at the Straits, and it seems notwithstanding impossible that today the present rise in the value of the yen at the Straits & Labuan might leave us with a large quantity of silver yen, which is not legal tender in any other part of the world.
The demonetization of which, if it were desired, would be a costly job. I am disposed to take time by the forelock & demonetize now. We had better ask the...
Page 362
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....
..
the
you than the Dollar;
stopping of the commage of the silver gen has had the effect of making already worth 21⁄2 more it is now quoted at 225.0nd. (the intruisic value of the cold gen
Exclures see, in
Article
Tuinsti
X. There
about 25. Id.
half the value
other
old gold zen).
we demonetize
Previz
when had
of the Japa
De Four years ago
in Aylen,
the Portuguese Ampee the opposite sl contingency
i.s. In Portuguese Ruper 3. less in value than this
arisens less in va
3?
Wa
Indian Rupee (see 12469/43).
leave the
I think we may
you
in 7.0. 1894 Parl. paper Paper!
herewit
alone at the Straits, suice it will gradually
go away of
its own accord to be
exchanged for gold zen in Japan under Art. XVI of this new Law; and
in the Colony so far as I can see no me
can be hurt by. legal
it ar
av
continuing
to treat
tender there - so long.
it continues to circulate ?
Merefor
Mr. Johnson
do nothing
?
S.W.9.8Sch.
I doubt about leaving the Yen to take itself H. As I read the new Japanese Save, the time will
come when the silleer you
will
crase & trebate in Japan Eom as a token. If the Japanese me
I.Swattenham
talls me that he has heard - but
Cannot
Bay
positions that the zen has
alread
practically
from the Shants
defer that date until they have got
getting in all the silver you
Mom
Jang
in circulation of a proportion, well & good. But
to Sir E. Salon thing
according
have enormously
underestimated
362
the amount of you in circulation
at the Straits, and it seems
Notwithstanding
Ima possible that today the present rise in the waken often Gere the Straits & Labuan might
me left with a large quantity
some dung
4 be
silour you
sch not legal
other part of
the
world
and the
tunder im amy
7 B & L (0)-79800-3000-3-07
demmationtion of which, if it
were desired, would be therefore
therefore
a costly job. I an disposed to take time by the forclock & demonetize now. We had better ask the
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