of an extension of the table, a similar loss would be observed in the Indian mint system at an interval of every three English pennyweights of half a pennyweight betterness or worseness, as the case may be, to the tenderer. The reason will be at once apparent, on noticing above that the Indian mints recognise no touch, save in even quarters of 100. The difference is simply plundered from the tenderer, under what is, in mint phrase, termed " assay benefit," and a blot it is on the whole Indian minting system. We do not, in the above table, profess to have quoted the decimals of pies in the outturn. They are accurate, however, to a pie, and, giving above data, it may suffice to state farther generally (under reservation of the peculiarity already noticed at the interval of every three English pennyweights) that the outturn improves or deteriorates, as the case may be, by a difference of eight annas six pies and a half for every English pennyweight. The chief value of knowing the mint outturn will, of course, as already indicated, always be as enabling the shipper to know the worst he can do. Whether tendered to the mint or sold in the open bazaar, the silver costs in shipment the same expense; and if he can do better in the one way than the other, the more favourable mode will naturally be chosen. It remains, however, to be added, that, as against the above mint difference of 8 annas 6 pies per pennyweight, the bazaar difference is only four, and in fact in some cases even only three annas per pennyweight, reckoning downwards from 17 betterness, for which latter the market quotation is always understood to be. With sycee silver again, it may be found difficult to sell at all in the bazaar, should the touch prove unusually inferior, and, even if not so, the exactions made for any touch short of 98 are very arbitrary. 2.-GOLD. This, whether in leaf or bar, is sold in Hongkong at a fluctuating number of dollars and cents per one Canton tael weight; in Shanghae, at a fluctuating number of Shanghae taels, mace, and candareen of Shanghae sycee per 10 taels Shanghae weight of gold. A difference, however, has here to be observed between the tael weight of Canton and that of Shanghae, the former weighing 579.84 English troy grains, while, to be quite safe, the latter may be taken as roundly only 566 English grains troy. Observing this difference, the arbitration between China and India from gold is simple. We adduce an example as from either port of Hongkong and Shanghae : I.-Hongkong. Assume gold bought at $22 per Canton tael weight, sold in India at Rs. 16 per tola, charges 2 per cent. To find the equivalent per 100 Hongkong dollars? Hongkong dollars. Canton tael. 579.84 English grains troy. 180 1 Tola. 579.84 X 16 X 100 180 X 22.44 or Rupees 229.10.10.56 per 100 Hongkong dollars. II.-Shanghae. Assume gold bought at Tls. 160 per 10 taels Shanghae weight, sold in India at Rs. 16 per tola, charges 3 per cent. To find the equivalent per 100 Shanghae taels? Shanghae taels. 10 1 566 Shanghae taels weight. 180 Tola. Tola, 100 X 10 X 566 X 16 164.8 X 1 X 180 or Rupees 305.4.5.76 per 100 Shanghae taels. In India, sales of gold usually take place in the bazaar, with the exception, perhaps, of Calcutta, where to some extent it is tendered to the mint for coinage into gold mohurs. Considerable fastidiousness is shown with unknown "chops," and it is usual for the exporter to take a guarantee for quality proving up to the professed touch. It will be evident to our readers, that in these cursory remarks and illustrations we have but skimmed the surface of the operations to which bullion gives rise in China. We have entered indeed on none of the many and valuable indirect arbitrations of exchange effected by its means, but such were beyond the scope of this work, and must be learned by daily practice. On the other hand, we have preferred to mere tabular results (the form in which these calculations usually appear), to give the formula by which each individual may reach them for himself. Perhaps no two houses in China will be found to coincide to a decimal in the charges of shipping bullion between England and China, or China and India. We do not say, indeed, that the charges we have assumed on the operations given are even those to which in practice we are ourselves accustomed. The formule may, however, be adopted to any scale of charge, and each house knows what its own scale is. The practical dealer does not need to be reminded, that the formulæ may be greatly simplified by reducing both sides of the equation to their lowest terms. Exports tariff on Preface 67 sent to other ports 12 Grains of Paradise 84 Exports, value of the chief Exported to other ports, goods Export duty receipts for native produce 173 Grain on board, rule for in Japan, rules for reasons for rules respecting Grand chop, nature of the Grasscloth is the Chinese linen 12 248 151 38 119 Hair made into wigs 91 Hams cured by the Chinese 91 Hankau or Wiechang, port of 9! Hakodadi, port of 146 Harbor regulations, Hongkong 260 260, 283 187 Harris reaches Simoda 84 Hemp, plants which furnish 41 Hides, the ox and rhinoceros 297 Hartall or sulphurets of arsenic 52 Hours, Chinese names for 227 Hong merchants, system of the 60, 59 Hongkong, colony of 120 I 92 Ichibu, a common coin 256 120 92 Imports, value of the chief tariff on Chinese 106 India-ink, composition of 92 Indigo, liquid and dry 120 Interest in China, rate of 104 Iron imported, kinds of 91 Isinglass used various ways 93 Ivory brought to China, fossil 93 Ivory-ware, carving of Hainan, ports in island of 181 122 122 206 253 217 of Nagasaki, rules in regulations, Shanghai 251 195 239 122 94 122 289 161 217 |