East Oregonian : E.O. (Pendleton, OR) 1888-current, 1906-01-12
CHINA's ENORMOUS SUPPLY OF
COPPER COINS.

The extraordinary oheapness of
everything in China makes coin of low
denominations even more useful than
they are in this country, says a Cam
ton dispatch. Copper cents or "chen,''
are almost the only ones in use there,
and as they have a hole in the middle
so that they can be carried on a string
in large numbers, it might be expect
ed that a good many would be requlr-
ed by the trade of the country.
Mr., Burrill, a special agent sent out
there by the United States government
to study commercial possibilities, de-
clares that at the opening of the new
year it was expected that no less than
! 16,41S,O 900 of these pieces would
be in circulation. 1t is hard to get
exact figures because there are IS or
19 mints, and the viceroys who have
the privilege of coming money are re-
ticent. Even bankers who have given
the matter careful study find difficult
ty in getting definite information.
However this much is apparent: The
viceroys make a profit on the coin,
and hence lit is for their interest to
continue producing it. At least half
of the copper required for "chen" in
the last few years has been imported
from the United States.
According to Mr.. Burrill, electroly-
tic copper, 99.6 per cent pure, is the
chief favorite, because it is soft
enough to be worked readily in the
mints Australian copper, sold through
British and German syndicates and
metal exchanges is also largely repre-
sented in China. The "Wallaroo"
mine in Australia, is regarded there as
one of the best produced I'm the world,
because of its purity, but for the pur-
pose of the Chinese the best American
electrolytic copper is fully as desira-
BILE.
The importation Of copper disks or
blanks of the same size as the coins
themselves, has been prohibited by the
Chinese government for the reason
that individuals brought them in and
by using homemade stamp, more or
less crude. but nevertheless effective
established lucrative industry. These
coins circulated freely in the inter-
ior, and the authorities found it es-
sential to suppress the competition.
The customs authorities will, how
ever admit copper disks through the
custom house for delivery to govern
ment mints on an order from Peking.
Such disks are now made in England,
Germany and japan, and are said to-
be more profitable for export than
ingots. There is also a demand for
copper strips 2 1-2 to 8 inches wide,
of the same thickness as the coin.
These strips are stamped at the n,ints
and placed in circulation, saving time
and decreasing somewhat the expense
of coinage.
The United States and other copper
exporting nations have adopted the
custom of shipping the long ingots
which is regarded as far more satisfac-
tory, as it prevents pilfering Ell route
and also guards against short weight
This change in the method of ship
ment was brought about by the troul
BILE experienced in importing the short
ingots in such condition that they
would arrive at their destination with
out loss to either the exporter or the
importer.
There is supposed to be customs
duty on copper, but it is rarely paid,
as the metal is used for government
purposes and may be imported free on,
the pass of the taotai of Shanghai,
whose position is similar to that of
the mayor of an American city For
the purposes of such free importation
authority has been delegated to this
official by the Peking government
In view of the enormous demand for
copper, which it seems probable will