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498 being, within a fraction of 1.5 per cent., better than the old. Next year the Chinese Government likewise had the American trade dollar assayed (September 27, 1873), when it was found to consist of 8,961 parts of pure silver and 1,039 alloy, and it was stated that to pay 100 taels' weight of pure sycee, It would be necessary to pay 111·6 taels' weight of American trade dollars, and that 100 American trade dollars are worth 100·07 new Mexican dollars or 101·48 old Mexican dollars, the American trade dollar being, within a fraction of 1·5 per cent., better than the old Mexican dollar. In consequence of the publication of these assays, the new Mexican dollar passed into favour with the Chinese of Hongkong. The foreign mercantile community, though practically accepting the new Mexican dollar, was anxious to obtain an English dollar which should be guarded, by special prohibition, against defacement by stamping. At a meeting of the Chamber of Commerce (January 10, 1874) a strong feeling was manifested in favour of doing away with chopped dollars altogether. A desire was expressed to obtain the necessary coins from England, instead of being dependent upon two foreign countries for them. An adjourned meeting of the Chamber (February 2, 1874) expressed an almost unanimous opinion against introducing the American trade dollar and the Japanese yen as legal tenders in the Colony, and a decided preference for a suitable dollar, to be coined by the Royal Mint in London. Later on, the Chamber of Commerce advised the Colonial Secretary to communicate with the Authorities of the Mint as to the coinage of a suitable dollar for the Colony. In reply, the Governor informed the Chamber (July 31, 1875) that Mr. Fremantle, the Deputy Master of the Mint, was of opinion that the Japanese yen might be accepted as a legal tender in Hongkong, that the American trade dollar, not being a dollar of an equivalent value, should be rejected, but that the proposal to coin in England a special dollar for Hongkong was impracticable, as it would cost two per cent. for coinage and one per cent. for freight to lay it down in Hongkong. This brought