THE  CURRENCY

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The  first  tokens  issued  (in  1853)  were  10-cash  pieces
with  a  diameter  of  1  50  inch,  but  these  were  soon  reduced
to  a  maximum  diameter  of  i'20  inch  and  a  minimum  for
official  issues  during  the  present  reign  of  Kwanghsü  which
may  be  put  at  roo  inch.  The  provinces  soon  followed
suit  and  10-cash  pieces  were  issued  by  all  the  provincial
mints  except  those  of  Hunan  and  Kwangtung.  Other
values  also  followed,  including  coins  of  a  face  value  of  5»
8,  10,  20,  30,  50,  100,  200,  500,  and  1,000  cash.  The  issues
of  the  Fukien  mint  (bearing  in  mind  that  they  were  cast,
and  not  rolled  or  stamped)  are  beautiful  specimens  of
numismatology,  and  heavier  than  the  contemporary  coins
of  other  mints  ;  and  I  give  here  the  particulars  of  a  series
which  lies  before  me.

These  token  coins  took  no  hold  in  the  provinces  and  may
be  said  not  to  have  entered  into  the  currency  system  of
the  Empire,  except  that,  curiously  enough,  in  Peking  itself,
though  not  in  the  province  of  Chihli,  immediately  around
it,  the  patriotism,  or  the  self-interest,  or  the  timidity  of  the
people  led  to  their  immediate  adoption,  and  the  10-cash
1  pieces  (but  none  of  the  others)  have  continuously  for  fifty
!  years  past  constituted  the  sole  circulating  medium  of  the
j  capital.  It  must  not  be  supposed  however  that,  even  at
Peking,  the  10-cash  piece  is  considered  to  be  worth,  or  is
accepted  for,  ten  cash.f  The  Chinese  never  have  treated
their  coinage  as  coins,  passing  on  their  face  value  irrespective ­
  of  their  intrinsic  worth,  but  have  always  looked
beneath  Caesar’s  superscription  ;  and  the  token  currency
of  the  capital  is  rated  closely  to  the  value  of  the  metal
contained  in  it.  An  estimate  of  the  true  intrinsic  value  of
Weight  inscribed  on  rim  0*50  tael,
t  Cash,  from  the  Sanskrit  Kärsha,  Kãrshapana,  the  translation
in  English  of  the  Chinese  “  Copper  coin.”

10-cash  1-45  inch
20-cash  180  ,,
50-cash  222  ,,
100-cash  2  (63  ,,

Value.  Diameter.

oil  inch

Thickness.

Weight.
321  grains  *

012  „
0-20  „
0-25  „