Year: 1873

A Shanghai letter TO the London


DAILY Telegraph contains the follow
igg: The subject of coinage is again
becoming generally discussed, for
really coppers and bad dollars are a
dreadful, indeed a disgraceful nui-
sanee. All civilized countries from
time inmemorisi have had q coinage
for the purpose of barter. The only
real coinage belonging TO the great
Chinese Empire is copper cash, about
l,200 of which go to dollar, and
these, having hole in the centre, are
strung together like beads. History
tells US of al ancient Emperor, who
had an iron coinage made in order to
check avarice among his people, and
certainly this ultra barbaric method
of exchange is very nearly as incon-
venient. To carry any quantity Of
Chinese cash is . physical impossible
ity; wheel-barrows are constantly
seen going through the settlement
heavily laden with strings of copper
cash. In consequence Of this eumber-
some method of exchange foreigners
have had to introduce the Spanish
dollar which have subsequently been
for the most part replaced by the
Mexican dollar, and as these are not
legal or current coin of the realm, as
sovereigns are in England, a host Of
Williams have manufactured dollars,
some only slightly less in value to the
Mexican, but other makers. with In
dia-rubbeg Ike conscience have made
some Of ron with coating Of silver,
some Of brass, copper, and a judicious
al.nixture Of different metals; 10 say
nothing Of al extensie system Of cleo
tro-plating that IS carried on By GER
tain rascals \ feeble attempt on the
pert Of the Colonial Government Of
Hong Kong to introduce { better
coinage was made, and an extensive
mint erected in the colony; but
strange to say, from mismanagement
and incompetency on the part Of
somebody OF other, the establishment
did not work wei, and was finally
closed and sold TO the japanese, who,
it must be added, soon erected a beau
tiful mint at Osaka, and placed a COM
petent staff Of native and foreign Off
cials TO work it, and now the Japa-
nese are turning out their dollars by
the thousand. The annoyance and
inconvenience caused BY having dol
lars in circulation Of different value
IS indescribable, to say nothing Of the
loss it occasions MANY local traders,
and not the least OF the evils is, that
it necessitates every payment being
examined BY native skilled in the
touch and value of dollars. This in
dividusl we call q shroff, and the ras-
cality and villiany carried on by them
and by cOmprsdOres, who have TO
disburse money to sailors and others
who are not in position TO keep q
skilled official to receive their dollars
for them, is enormous. Poor Jacks
hundred dollars are really not worth
more than eighty Heavy payments
are made in Jumps of silver; this,
again, is in the hands Of experts; woe
to the foreigner who attempts TO han
die what is known as sycee or lump
silver. 1t has been wisely urged, in
order to get rid of this very unsatis-
factory state Of affairs, that when the
treaty is next revised, it should be
made compulsory for the Chinese
to issue areliable coinage ]
which certainly would facilitate many I
transactions, for the loss
in exchange now forms very consid- .
erable item in many establishments. /
| have used the expression made F..
because no one who I
knew anything Of the Celestial char
acter would dream for q moment that
the Chinese would better the coinage
Of their own accord. Copper cash
has suficed them for 1000 or 5000
years. and il might just as well con-
.inue 10 do so for another similar per-
Od 1t is contrary TO native instinct
and tradition to alter or improve any
hing. Therefore, in our own interest
Is well as in theirs, the matter Of a
lew coinage should be insisted on"


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