The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-10-30

II
aas Recent Oranges IN tho JsPsnese
Curseney--DipAenatio Dfmeultics ArAs-
af 1ng Out Or Them. my via
"a 4ttt- 70 7Em EDITOR or THB HERALD.
htsllirOuco ar the greatest Importance has boon
sesved In regard 70 the unsatisfactory position Of affairs IN
Japan Il Is therein stated that they (he Japanese)
further sought 70 establish coin the only 10
b used in commercial dealings with foreigners although
according 70 the treaty foreign coins 20 be received
a their intrinsic value. The present arrangement Of The
Japanese produced depression Of sixty six per cent
The British Consul General had issued protest. and
uespped trade for the present"
a. his dfBcnlty 10 not one. The regulation Of eur
vsnsy led 70 much controversy and ilfeelng and WILL
Mat question former OCCASION only part Of which
published In Perrys Japan Expedition, called for
by Congress.
By referring TO the early history Of foreign intercourse
with JAPAN 1t will DO that immense amounts Of gold
and copper exported by tho Spanish Portuguese and
Dutch. Then followed the expulsion Of the Spanish and
Portuguese; and the Dutch, having lost much Of their
prestige by surrenderpg Fort Zecandia on Fornosa 70
C0sAenga and his Chinese pirates, limited in their
trading privileges 70 the export Of certain amount Of
esyper The Emperor judging from experience, that the
principal object Of foreigners visiting Japan 70
much gold and silver they could had already proh
Died their export under penalties thinking that by
taking away that indusement would for the future
greatly relieve him from receiving such visitors In his
empire. His policy in retaining the Dutch was not
hiendship but had only for object 10 get through them
such information concerning events in the outer world as
vsud enable him maintain the excusiveness Of his
country To prevent their smuggling gold and silver,
esm made to pass for far more than It's intrinsic
In Ina Arai isikugono-kami great philosopher in
Japan the statement that for the last 80 metal
had been exported for o32 600 gulders,
of upr q n
gudcr 70 IS $780, Accompanying this statement with
Philosophical remarks, he compared the mineral produc
ton of q country to the bones, and the production
q the soil to flesh and blood in a human
body; the latter, he said, may be replaced, but
Ne bones never. This caused the amount Of copper
aNowed to the Dutch and Chinese to export to
b. still further reduced Their objections passed unnoticed
Not much light can be thrown by the Dutch upon the
value of bullion in Japan in former years. as their goods
sold for aes reckened at two guders 80 cents
"a 8 } and paid for with the tael but having
tAreugh government officials only, they knew more
abost currency than what the interpreters chose 70 tell
then.
Was here an Of great importance, creating the in
tensest excite ment among all classes
After the signing Of the treaty OF Kanagawa the Japa
nsse Commissioners le Jeddo report the Council
nkiDg with them $3.50 in Mexican and United States silver
ssaIs and gold COIN given on account for supplies o.
lsr regulating the currency. was proposed by Ccm
nedore Perry, and accepted by the Japanese, that
dollars 200 cash to the dollar; the difference be-
tween 200 cash and what the dollar might be worth
70 be e On meeting e % naca s
squadron TO visit There being no Dutch interpreter
tksre Dr. s. Wells Williams, editor Of the Journal Of
States Legation in China), acting Chinese interpreter,
n the absence Of imperial officers, made arrangement
Nth the municipal authorities that bazaar should
b opened, and that the silver dollar be taken
h payment against Japanese silver coin &C.
sordng 70 weight tn. The arrangement vas vas made
cay 1000 dollar equal In weight to three sebus, Is
consequently worth 800 cash. four times the value
commissioners. At this Il estimated that
a. invested at Hakodad principally for lacquer
cd ware On the return Of the squadron to soda Pur-
sers VIM. Speden and j. C. Edridge were appointed q
committee hear the statement Of the Japanese nan
sers who had arrived from Jeddo and TO regulate the
currency with them.
Thefollowing is the report OF those gentlcmen-
UNITED STATES STEAM FMGArE PowHATAS,
SIMoDA, June Is, 1854.
HR-The committee appointed by you in your letter OF
The 18th instant TO confer with committee from the
Japanese Commissioners in reference TO tho rate Of
change and currency between the two nations in the trade
delivered 1t this port, beg leave TO report
The Japanese committee, 1t was soon seen came to tho
alternative was the immediate cessation Of trade
me bass upon wn, S ney ms1e srer s %u;o
when is purchased from the mint and which seems TO
be that by which the metal ID received from the miner.
The Japanese have decimal system Of weight like the
ese catty mace tae candareen and cash. by which
articles in general weighed geld and silver
Yeckoned above taels In ae Of silver in weight
and in currency the same for the Chinese have
silver coin; but in Japan, az IN European countries,
ne standard Of value weight and that Of currency weight
differ We were told that tael weight Of silver has
come be reckoned, when Is bullion, to 225 canda
reens or tae mace candarecns; but when coined,
the same amount weight Is held to be worth taels
naae It Is the bullion value that the government has
decided to receive dollar, the at which they
take the silver from the mines, asserting that as its
sent die and assay give no additional value, it is
worth no more TO them. In proportion to q
tael, dollar weighs mace llb candareens, which, at
enc tael six mace 900 cash. Thus the Japanese 60
vernment will make profit of 66 % per cent every
dollar paid them Of full weight with the tring deduc
ton Of the expense Of reconing it. The injustice Of this
arrangement shown and the proprety Of paying to
the seller himself the coin we gave at this deprecated
For rod the rate is MORE as the disparity between the
value Of bullion and that of coin among the Japanese s
net 30 great tae weight Of gold valued at nineteen
taes currency and mace at one ae nine mace The gold
dollar weighs almost five candareens but the Japanese
have reckoned it az the twentieth part OF $50 piece,
which they give eight mace, eight candareens, and
consequently the dollar s only four candarees four cash.
This weight brings the gold dollar when compared with
the tae Of bullion gold worth nineteen taes TO be worth
S36 cash. and the $40 piece to be worth 1920 cash.
sixteen taes, seven mace, two candareens This when
na , n @ o as be
propose them But this valuation of the gold dol
reckoned at $50 cash the assessed value by the
Japanese government suffers the same depreciation
silver, and its real value, when compared with
she inflated currency in among the people, only
gold becomes 80 per cent for pay than silver
The currency value Of gold dollar, taking the tsebu
as OF equal purity, and comparing them weight for
weight is only 1,O45 cash, nearly % cents in silver,
30 that the actual depreciation the part Of the Japanese
great silver, being for the two metals, when
weighed with each other for silver 100 to IS and
gold as q to IT, The elements Of this comparison are
quite certain and therefore M results somewhat
doubtful; but the extraordinary discrepancy Of both
metals compared with coins and with their COP
per coins, shows how the government has inflated tho
whole monetary system in order 70 benefit itself.
The parties could to agreement, VIC de-
oned TO consent To the proposal Of the Japanese who
decided TO adhere to their valuation Of silver dol
nr at tael mace 900 cash. Neither would they
consent to do justly by US In relation TO the moneys paid
70 them a. this place before our DEPARTURE at the rate Of
only tael mace 200 cash the dollar, by which
they had made profit Of IS per cent on each donar
stating that the money paid them at this rate had passed
cut Of their hands, and that the prices placed
upon articles furnished had been charged reduced
prices with reference TO the low valuation placed upon