RATES OF EXCHANGE. 407 



silver-specie rupees. In dealing with Chinese 

 or natives, copper rupees were commonly understood 

 to be used ; with European merchants or shopkeep- 

 ers, silver paper in most cases, but sometimes after 

 the bargain was concluded, it was insisted that silver 

 specie was understood. As no one would ever 

 change a note in silver, and as if you took it in cop- 

 per, you were obliged to get a coolie to carry it, 

 all business was carried on by bills or orders ; and 

 we were recommended to establish a credit with 

 some merchant, and send orders to him to pay for 

 any articles we might happen to purchase. The 

 present rates of exchange were as follows : — 



Doits. 



100 = 1 copper rupee. 



120 = 1 silver-paper rupee. 



160 = 1 silver-specie rupee. 



400 = 1 Spanish dollar. 



1740 fcsa 1 pound sterling. 



From this it resulted, that one English shilling 

 was worth 87 doits, and that in- one pound sterling, 

 there were 10| specie rupees, 14 \ silver-paper 

 rupees, and 17J copper rupees ; that 74 doits were 

 worth Id. sterling, and therefore one copper rupee 

 equalled rather more than 13f^., a silver-paper 

 rupee rather more than l6^d., and a silver-specie 

 rupee rather more than Q2d. In reckoning with 

 natives, the copper rupee was also divisible into ten 

 nominal coins called fanams, each worth 10 doits, 

 or rather more than If of. 



The cause of the depreciation of bank paper in 

 regard to silver coin, or the high rate of silver, both 



