CO129-367 - Acting Governor May - 1910 [6-7] — Page 528

526

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orld

the Board of Finance for the assignment of a period after

which all circulation of these coins must cease, and they will

thereafter be redeemed by the Mints and the Ta Ch'ing Goverment

Bank as if they were "gyosa".

Section XV. In the same way, all copper coins and "cash"

formerly minted throughout the Empire will continue to be

current, pending the adoption of measures by the Board of

Finance, after due am consideration of the cirgumctances at

the proper time.

Explanatory Note:-

This and the preceding sections outline the

procedure to be adopted in zagaa regard to the old coinage. A

detailed scheme will be prepared later by the Board of Finance

and be submitted separately for the approval of the Throne.

Section IVI. Within one year of the Imperial sanction of

these Regulations, all official receipts and payments, which

have customarily been made in silver, will be calculated, with

due regară to the weight and touch and amount of such receipts

and Rayuanas payments in the particular place, in the first

instance in "good" Treasury silver and then again in the new

coinage, and the monetary denominations of all such sums will be

changed accordingly.

Bolanatory note:-

It is a necessary preliminary to the unification

of a coinage that the currency denominations employed in all

registers, account-books, contracts, etc., should be changed

into harmony with the national coinage. Such a step not only

gives a rapid impetus to the general adoption of such a coin-

-age, but in a great convenience in preparing a budget or

definite accounts I of expenditure incurred. There is no

objection therefore to the assignment of a term for the

general alteration of old currency denominations to the new,

even previous to the new currency being generally current on

the market. Neither is the period fixed of one year too short,

since it will be easy, in accordance with the system of ex-

-change