We know that the new arrival, upon changing a dollar in Shanghai is rather surprised to receive return five 20-cent pieces, one 10- jeent piece. and several extra copper pieces, and four or five thi dirty copper coins, each with a hole in its middle. A fairly general rate of exchange in Shanghai that the money exchangers give is, say, 11 10-cent pieces (nominally 110 jeents): seven L-cent pieces, nomin~ ally 7 cents, and eight "cash." (It iwas: nowadays owing to depreciation ete, one gets six 20-cent pieces and some coppers—Ed). 'There is apparently a clear gain of 178 percent. on the transaction, which is literally trae, for in making small. purchases a' single 10-cent piece or a single 20-cent piece Jactually passes as 10 and 20 cents fall value. This is true up to about "half the dollar, at which point it is usual to demand what is
Text read from the printed page and cleaned; old type leaves the occasional error.