The Dairy Press of the 26th ult, writes as follows The expectancy of a seignorage being charged upon the coinage of silver in I having a serious effect upon the commercial relations of the Far Exst that country. £370,000 worth of bar silver was shipped from London to India and the week bel £250,000. Banks were willing to give 381. per ounce for the metal if shipped by last mail and the nominal quotation for this week is 3744. buyers at 'AS we ata time a shipments of dollars lave recently bee made. from Hongkong to-Indis, but these even have stopped owing to the uncertainty asto the result of the Herschell Committee's report.
On the 27th ultimo the same paper writes Telegrams were received from Calcutta and Bombay Into yesterday evening: that the Mints at both ports are now closed against bar silver and that the Banks in the meantime refuse to name a buying rate for bills on London, On the same date it prints the following telegram which was forwarded on the 96 h to H.E, the Viceroy of Intin, Lord Lausdowne, on behalf of merchants engaged in He the Indian trade xeellency the Vicervy of India, Simla.
All merchants engaged ini Indian trade Hongkong earnestly urge Viceroy take no steps calculated to i dian trade with China. At present it is impossible to get remittances to Tudia, Banks fearing closing mints, a protected rupee and unprot: cted dollar, Tudinn business at a standstill in the meantime."
In an editorial in its issue of the 28th, the Daily Press mentions that the tele: graphic transfer rate was the lowest on recurd, 24. 6j., and was expected to fall still farther, Silver mines would have to be cowed (8 we knew yesterday they are te he) and a reaction would" doubtless flow, but meanwhile trade between Tedia a d China would nrulysed, t" the adv age of Japan, and the Hongkong loan recently contracted on -the of 2s, 10d. would be made a much heavier burden on the colony.
Text read from the printed page and cleaned; old type leaves the occasional error.