propose, that "from the summer half-year of the 4th of Taou kwang, the mint should be shut, and all further coinage suspended: the soldiers receiving their pay in silver, until the relative values of silver and currency approach nearer to a par." The Emperor returns for answer— "The address has been recorded." And a later gazette conveys his assent to the measure.[1]
Description of the Coins of the Ta-tsing, or reigning Dynasty of China.
I.
Shun-che,[2] A.D. 1643. The founder of the present Manchow Tartar dynasty, by driving out the Ming, or Chinese dynasty. He compelled the Chinese to shave their heads, and wear long tails, like the Tartars. Reigned eighteen years. The other two characters, Tung-paou,[3] denote that the coin is current throughout the empire. The reverse of the coin bears the Tartar character.
II.
Kang-he,[4] A.D. 1661. The second Emperor of the present dynasty. Reigned sixty-one years. He has been very much praised by the Jesuit missionaries, to whom he showed great favours.
- ↑ The Yuen dynasty or Mongol conquerors of China, established a paper money for the pay of their troops (a fact which is noticed by Marco Polo); but, ignorant of the truth, that the circulation cannot absorb, or take up, more than a limited quantity, without a depreciation of its value, their continued their extravagant issues of paper, until it became nearly worthless; notwithstanding their absurd attempts to keep up its credit, by forbidding the use of any medium of exchange but this. The final expulsion of the Mongol Tartars may be attributed in some measure to the ruin induced by the above cause. In an interesting memoir on this subject (a copy of which was obligingly transmitted by its author to the Translator of the foregoing), M. Klaproth very truly observes, that the Manchow Tartars, the last conquerors of China, have never attempted to put paper money in circulation; adding, "car ces barbares ignorent encore le principe fondamental de toute bonne administration financière, savoir, que plus un pays a de dettes, plus il est riche et heureux."
- ↑ See Plate III, No. 9.
- ↑ See Plate III, No. 10.
- ↑ See Plate III, No. 11.
