C
:
PY.
10.188.
sir,
CO
27045
515
Peking, June 3rd., 1910.
Rea? | SEP 10)
REC
With reference to my telegram No. 104 of
the 28th. ultimo, I have the honour to transmit a translation of the Imperial Decree establishing the silver dollar as the unit of currency throughout the Chinese Empire, together with a translation of the Regulations in regard to the projected reform of the currency issued by the Board of Finance and sanctioned by the Decree. It will be seen that the unit of currency is to be a dollar of seven mace and two candareens weight, equal to 416 grains Troy the present Mexican dollar - with subsidiary coins in silver of fifty, twenty-five and tem cents, in nickel of five cents and of two cents, one cent, five cash and one cash, the value of the cents and cash to be decimal proportions of the dollar and permanently fixed. The LixKAKEK
of the fineness of the dollar is to be 0.9 of pure silver, fifty and twenty-five cent pieces 0.8 and of the ten cent pieces 0.65. The weight and fineness of the nickel and copper coinage is to be decided on later, Those new coins are to be minted under the supervision of the Ministry of Finance, which will be charged with the duty of seeing that they conform with the standard in weight, purity and design. The new coins will be put into circulation as soon as a sufficient supply is available and the Ta Ching Government Bank is to be responsible for effecting the change from the old monetary systems to the new ourrency. The new dollar will be legal tender everywhere to an unlimited amount, but not so the subsidiary coinage except when offered at the Goverment Bank or one of its branches for exchange. Teanwhile existing coins itt will be axchanged at 1km their market value and will gradually be withdrawn from cir- -culation, until a xxxx certain date to be fixed later when it is hoped that a sufficient number of the new coins will be in
circulation to meet the payment of all taxes and duties and the requirements of trade, and the old coins will then cease to be legal
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