Marshall County Republican. (Plymouth, Ind.) 1856-1878, 1870-05-12
Chinese Currency.

Chinese Currency.
The advocates of universal currency
may find new argument in letter from
the Secretary of the Treasury in relation to
| the value of the tael of China. referred TO
the House Committee on Foreign Affairs
on the 1st inst. 1t appears that the cur
rency of China is not a coinage, bpt a
measurement by weight Of silver bullion.
First. uniform standard is obtained from
the Government issue, paid out for Gov
eminent dues through certain banks The
latter, known as Government Banks, -
melt, cast, weigh, and stamp Jumps of sill
yer of about so or 60 taels value; and these
Jumps become the standard currency.
This is not, however, the commercial cur
rency, which consists ofanother set oflumps,
corresponding in size and weight, but made
by anybody, and needing to be stamped and
restamped by every person passing them
and also bits or pieces of silver, chiefly
from fragments of foreign coins, done mp
i'll bags and boxes, and similarly weighed
and stamped. The commercial currency
is the medium of all the exchanges in
China, is, in fact. its circulation" and es-
timated in it, the standard currency is worth
about 10 per cent premium. Now some of
the older ports of China, in commerce with
foreigners, brought into nse first the Span
ish or Carolus dollar; then the Mexican
more latterly the American silver dollar
The Carolus dollar, in process of con-
sumption by clipping and melting has
nearly disappeared; the Mexican Is worth
sbout per cent premium above the Amer
, i.an. Our government, with reference to
d,ties, in 1899 estimated the Chinese tael
at fixed value as sl.4S. 1t seems that
this yalus was really appropriate only to
the standard" and was in excess for the
con'nercial currency. In 1862, upon suit
brou ght by an impe erter against Augustus
Schell, Collector, Chief Justice Nelson de-
cided that the Shanghai tael was not the
to 81. 1t is supposed that the evil
dence in the case bad reference to the
Spanish or Carolus do...lr; but at all events
from this mistake it has since resulted that
Shanghai invoices have been valued at
about one-third less than those from other
ports. Secretary Boutwell,. at the instance
of Mr.. Hogeboom, General Appraiser at
this port, who seems to have ascertained
and presented these facts, offers for the
consideration of the House, an act to make
the Custom-House estimate of the tael in
all the ports of China alike, $1.35, which is
fair valuation of the commercial curren-
cy. These values are of course in Ameri-
can gold. 1t appears that even ''hard
money" currency MAY not he free from in
tricacy and confusion.-N Y. Tribune.
DelusiOns Of GiriheOd.
The following is bit of Fanny Ferns
experience:
used to believe in school friendship
That delusion ended when Arabella Triplet
told mutual friends that was years and
years her senior, knowing what terrible
| nib she told.
used to suffer pangs of anger because
of woes of beggars. Since that have seen
one unstrap his leg in an area, and run of
gaily on two legs of his own. Another
threw a loaf of bread in the gutter, and
saw third who had all day been yelling,
"Please assist the blind, carefully examin-
ing his collection of ten cent stamps by
the light of friendly apple-woman's can
die
used to put the greatest faith in lovers
vows- Now, do not believe q man means
anything he says to woman, unless it is
something disagreea5le.
used to believe in faithful sc rvants.
since then have hired girls from intelli-
gence officers, and lost all my handker-
chiefs but one.
used to believe in beauty. Since then
I-have seen bewitching belle take off hall
her hair, all her teeth, the best of her CON-
plexion, two pounds of cotton batting and
cotset.
The DysPEPrIo.-The trials and sufferings
| of the DyspeptIc can only be realized by
/ those 40 unfortunate as to be afflicted by this