What are contractual obligations Jexpressed in terms of silver? The rst observation is that the decree is solely concerned with the protection Jot Chinese currency and there is mute although unimportant quest it-extends. to contractual Jobligations expressed in a foreign jeurrency. Example: Mexican currency Jqualified by a silver value clause, Terms of silver are—
Liability, expressed in silver coins with or without m standard'and. weight Clause, (example: Chinese silver Dellat alns of the present standard of weight ud. fineness) unliquidated" money {abuitles dependent upon the value of certain quantity of sliver at a certain time, obligations expressed in quantity of silver pure and simple (barter).
Those silver clauses are certainly rendered invalid by the decree, but Jhow is the nominal amount of legal tender. notes to be ascertained? case of abilities expressed in taels which ig really a quantity of silver) there exists according to the relative silver contents a certain rate of con~ version Into Chinese currency, (ap-[proximately 72 taels equivalent to 100 Chinese silver dollars) which has become customary so that the nominal Jamount due may be easily ascertained. There may be, however, dificultles where the money equivalent of a. certain quantity of silver not pressed in taels or a quantity of silver HHself is due. In this case there ix no nominal amount due" but it would appear that the amount due ts to be lying at any time purchase price for may future alters price would affect these abilities.
Text read from the printed page and cleaned; old type leaves the occasional error.