730 CHINA
Money, Weig-hts, and Measures.
Money.
The sole official coinage and the monetary unit of China has been hitherto the copper cash, of which about 1,220= 1 haikwan tael, and about 35 = 1 penny. A coin recently issued in great numbers by the provincial mints is the 'hundredth of a dollar.' This coin, of which the issue to the end of 1906 is computed to have been 12,500,000,000, has been readily accej)ted, but latterly at rates corresponding closely to the intrinsic value of the metal in it. The face value of the coin is about -j^^d ; the intrinsic worth about i^^d. The use of silver bullion, or sycee, aS the medium of exchange, is not now much less common, but the circulation of the dollar is certainly ex- tending. The haikwan (or customs) tael was eqilal in value in 1911 to 32/^rf,
The dollar (of the same weight and touch as the Mexican dollar) is now current in all the provinces, even in out-of-the-way districts. Notes for cash are also much in vogue.
In the treaty of September 5, 1902, China agreed with Great Britain to take the necessary steps to provide a uniform national coinage which should be legal tender for all purposes throughout the Empire, and an Imperial Decree was issued in October 1908, commanding the introduction of a uniform tael currency, of which the unit must be a silver tael coin of •98 touch weighing 1 K'up'ing or Treasury-scale taol or ounce. This decree was cancelled by a further decree of May 25, 1910, establishing the silver dollar (yuan) of "90 touch and weighing "72 Treasury-weight tael as the unit of currency. The touch and weight of the silver subsidiary coins (50c., 25c., and 10c.) was also definitely specified, while provision was made for further subsidiary coins (5c. nickel, 2c., Ic, ^c, and yV^- copper) of touch and weight to be laid down later. The minting of these silver coins has begun, but very few are as yet in circulation. By the law of May, 3 910, the several mints have been brought under the Central Government, and are no longer practically private ventures of local viceroys. All coins are now miated at the Imperial Mint in Tientsin and at branch mints in Hankow, Chengtu and Mukden. The K'up'ing tael weighs 575*642039 grains, somewhat less than the Haikwan tael which weighs 581 "47 grains. A decree for uniform weights and measures was issued Oct. 9, 1907, whereby the K'up'ing or Treasury scale was made the standard weight.
Weight.
. = 1 Hu.
. = 1 ffao.
. = 1 Li (nominal cash).
. = 1 Fe7i (Candaren).
. = 1 Ghien (Mace).
. = 1 Liang (Tael) = 1 ^ oz. avoirdupois by treaty.
. = 1 Chin (Catty) = Ig lbs. ,, ,,
. =1 TaTi (Picul) = 133Ubs.
Capacity.
. = 1 Sheng.
. = 1 Tou (holding from 6^ to 10 Kin ot rice and mea- suring from 1'13 to 1*63 gallon). Commodities, even liquids, such as oil, spirits, &c,, are com- monly bought and sold by weight.
10
S.sti
10
ffu .
10 ffao .
10
Li
10
FSn .
10
ChHen .
16
Liang .
100
Chin .
10
Ko
10
Sheng .
