Considerations respecting the trade with China

Paperback | January 10, 2012

byJoseph Thompson

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This historic book may have numerous typos, missing text or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1835. Not illustrated. Excerpt: ... bay rupees, how has it happened that the Bombay traders have not uniformly returned their surplus in dollars to that presidency, in preference to investing any part thereof in the Company's bills on Calcutta, at the average exchange of 205 sicca rupees for 100 dollars? In fact, considerable sums have been transmitted from China to Bombay in dollars and sycee silver; and it is probable much larger sums would have been transmitted in the same manner, had the old mint at Bombay, been furnished with apparatus capable of coining the dollars and sycee into rupees, with a rapidity equal to the requirements of the traders and consignees. That mint was, however, greatly defective in every respect; so much so that to coin dollars or silver to the value of .£350,000 would require a period of several months. Under these circumstances, therefore, the trader found it, on the whole, better to exchange his dollars in China for a bill on Calcutta at the average rate of 205 sicca rupees for 100 dollars, and receivable at a certain period, than to remit his dollars for coinage in the old Bombay mint, which would not be receivable but at a remote, and also uncertain period. But, as in the present Bombay mint, rupees to the value of about £350,000 can be coined, either from dollars or sycee, in thirty-three days;* the principal impediment to the export of dollars or other silver from China is therefore removed; it may then be assumed, that if the trader cannot obtain in China bills on Bombay for about 218 rupees for 100 dollars, he will transmit his returns in dollars or sycee for the purpose of coinage in the Bombay mint, on his own account. The great public object at this time is, however, to render the surplus of the Bombay trade with China available for a remittance to...

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This historic book may have numerous typos, missing text or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1835. Not illustrated. Excerpt: ... bay rupees, how has it happened that the Bombay traders have not uniformly returned their surplus in dollars to that presidency, in p...

Format:PaperbackDimensions:32 pages, 9.69 × 7.44 × 0.07 inPublished:January 10, 2012Publisher:General Books LLCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0217195652

ISBN - 13:9780217195652

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