Chile

has the gold standard and the monetary unit is the gold peso, although no provision is made for the minting of this coin. The condor is worth 20 pesos, the doubloon 10 and the escudo 5. The English and Australian pound sterling have legal circulation in Chile at the rate of 13 I-3 pesos. Gold is full legal tender. Silver is legal tender to the amount of 50 pesos between individuals, but full legal tender-to the government. The mint is required to exchange gold for silver pesos tendered to it for that purpose. 7 The weight, finene , etc., of the coins of Chile are as follows: GOLD., f p |) pres Value in Denomination. Weight.| Finea Weignt.| 2%°!4 | united States moe |e oni gold coin. | Grams. | 1,000ths | Grams. | Grains. | Grains. Condor.............]11.9820} 916%|10.9835|184.9115 1695020 $7.2098 Doubloon...........{ 5.9910] 916%| 5.4917] 92.4557| 84.7511 3-6499,: Escudo..............] 2.90055] 9163] 2.7458] 46.2278) see | 1.8249 Peso (not coined)....|.5991] 9163].s491| 9.2455] 8.4751 -3649 "SILVER. - Value com- Pure cf::: d with Denomination. Weight. oa ig Weight. aS Peiiver: 28 Raced United States b * | silver dollar. | Grams. | 1,000ths | Grams. | Grains. | Grains. | IEGSO! ee..-----.- 2s! 20| 835|16.7000!/308.6471|257.7203 $0.6941 20 centavos........... 4| 835] 3.3400] 61.7204] 51.5440.1388 10 centavos........... 2| 835] 1.6700] 30.8647] 25.7720 0694 5 centavos........... 1| 825].8350] 15.4323] 12.8860.0347 MINOR COINS. ‘ Denomination. | Weight. Composition. Weight. |Legal tender.| Value. Copper. Grams. Grains. 2 centavos....| 7.0000}] 95 per cent cop-| (108.0264) ---- +++] $0.0072 I ee. 5.0000) + per and 5 perj{ 77.1617|.----cre e e.0036 4 centavo....| 3.0000/) cent nickel. {| 46.2070)...eeeereecee eee 0018 ww * e CHINA. The money of account in China is as follows: 10 cash or li, 1 candareen; 10 can dare ens or fun or fen, I mace; 10 mace or tsien, 1 tael | or liang. The smallest piece of money, the cash or li (called also zin and by the Dutch pitjes), is represented by an actual coin, whereas the candareen, the mace and the tael are simply designations for weights of silver. The cash or li is made from an alloy of copper, iron and tin. It is a circular bit of metal seven-eighths of an inch in diameter with a square hole. in the middle around which are impre ed on the obverse Chinese characters, stating the reign, etc.; on the reverse Mantchu characters stating the name of the mint. Originally it represented one-thousandth part of a tael and nominally it continues to do so, but it long since ceased to keep up 4 corresponding actual metallic value. The monetary unit is the tael. The Canton tael in Shanghai is a quantity of silver of the finene of the Mexican dollar (about 0.89.8), and weighing a tael, which would make 1 money tael equal $1.39.37 and $100 equal 71.7517 money taels. at Shanghai foreign accounts are kept and the quotations are given in taels. Generally, when converting taels into dollars, $100 are taken to equal 71.7 taels or 1 tael equals $1.30.5. Besides the Canton tael weight (37.573 grams) there is the haikwan tae] or government tael, which weighs 590.35 grains (38.246 grams) or 2 per cent more than the Canton tael (100 Canton taels equal 98 haikwan taels). At Shanghai there is another tael weight about 2 1-2 per cent lighter than the Canton weight, 36.56 grams (564.20 grains troy). It is used as weight for gold. There are several local taels at the various ports in China differing greatly in value as compared with the haitkwan or government tael. The following are the approximate values at the treaty ports: Haik-: Haik- Ports me wan Ports keatt | ‘wan: Amoy.......-++++++.| IOI.75 1oo||Ningpo.............| 105.83 100 @hefoo.........---+| IGo40 1oo||Pakhoi............+] 110.57] 100 Chinkiang..........| 104.16 1oo||Shanghai...........] 111 40| 100 Foochow...........] 110.00, 100||Swatow............] 110,15 100 Hankow............| 108.75 100||Takow.........++++| IOT.TE} 100 Hoiwhowe)..........0| I1gge 100|[Tamsui.............| 111.32] 100 lichaneey..........1..| Olas 1oo||Tientsin............] 105.00] 100 Kiukiang...........) 104.37 100||Wenchow...........| 103.00] 100 Newchwang........: roo}/Wuhu.............-] 104.16 100 In large native transactions ingots of silver are used. These are called shoes from their resemblance to a shoe in shape. They range in weight from a half tael to 100 taels. The Shanghai currency consists of such shoes of silver of about 50 taels weight each. These ingots are rendered current by the hong koo, who a ays the metal and affixes to each ingot a ayed by him a stamp recording its touch or degree of purity. The hong koo is not an official appointed by the Chinese government, but derives his authority from an arrangement with the native bankers. According to the stamp affixed by him on each shoe the compradores (native commi ion merchants and intermediaries for foreign busine houses) add from 0 up to 3 taels Shanghai weight per 50 taels of actual weight. This addition thus ranges from 0 for silver of the hong koo’s standard up to 6 per cent for pure silver of 100 toques or touch. [The Chinese report the finene of the precious metals by dividing the weight into 100 parts, called toques or touch—o8 touch means, accordingly, that the gold or silver ingot, etc. contains 98 parts of pure metal and 2 parts of alloy]. A further addition of 2 per cent is made in conformity with a custom of long standing. The so-called haikwan (i. e., customs) sycee (sycee silver), which is produced at the customs bank by melting and refining the Mexican, Spanish and other foreign dollars received in payment of duties, commands a premium over the dollar currency ranging from 3 to 10 per cent, according to the supply and demand of the two commodities. By the Chinese this silver is called wan-yin (fine silver), but in foreign commerce it is known as sycee, which is the colloquial pronunciation of the Chinese words se-sze, meaning “fine silk,” and implying accordingly that the silver is so pure that _ it might be drawn out to the finest silken thread wire. Sycee silver means, therefore, “purest silver.”: - In exchange on London, at sight and four months’ sight, Shanghat receives 3s. 10d. for 1 tael; Paris, sight and four months’ sight, 4.90 francs for 1 tael; Germany, four months’ sight, 3.95 marks for 1 tael, and Bombay and Calcutta, demand, 315 rupees for 100 taels; and gives New York, four months’ sight, 105 taels for $100; Hong kong, telegraphic transfers and three days’ sight, 27 per cent discount, i. e., 73 taels for $100; Yokohama, telegraphic transfers and thirty days’ sight, 74 taels for $100. 337