For gold the rate is more, as the disparity between the value of bullion and that of coin, among the Japanese, is not so great. A tael weight of gold is valued at 19 taels in currency, and a mace at 1 tael, 9 mace. The gold dollar weighs almost 5 candareens, but the Japanese have reckoned it as the twentieth part of a $20 piece, which they give as 8 mace, 8 candareens; and, consequently, the dollar is only 4 candareens, 4 cash. This weight brings the gold dollar, when compared with the tael of bullion gold worth 19 taels, to be worth 836 cash, and the $20 piece to be worth 16,720 cash, or 16 taels, 7 mace, 2 candareens. This, when converted into a silver value, makes a gold dollar worth 52¼ cents, and a $20 piece worth $10 45, at which the Japanese propose to take them. But this valuation of the gold dollar at 52¼ cents, when reckoned at 836 cash, its assessed value by the Japanese government, suffers the same depreciation as our silver; and its real value, when compared with the inflated currency in use among the people, is only about 17¼ cents. Consequently, by this estimate, gold becomes 50 per cent. worse for us to pay in than silver. The currency value of a gold dollar, taking the its-evoo as of equal purity, and comparing them weight for weight, is only 1,045 cash, or nearly 22 cents in silver; so that the actual depreciation on the part of the Japanese is not so great as silver—being for the two metals, when weighed with each other, for silver as 100 to 33-1/3, and for gold as 22 to 17. The elements of this comparison are not quite certain, and therefore its results are somewhat doubtful; but the extraordinary discrepancy of both metals, compared with our coins and with their own copper coins, shows how the government has inflated the whole monetary system in order to benefit itself. The parties could come to no agreement, as we declined to consent to the proposals of the Japanese, who were decided to adhere to their valuation of a silver dollar at 1 tael, 6 mace, or 1,600 cash; neither would they consent to do justly by us in relation to the moneys paid them at this place before our departure for Hakodadi, at the rate of only 1 tael, 2 mace, or 1,200 cash, to the dollar, by which they had made a profit of 76 per cent. on each dollar, stating that the money paid them at this rate had passed out of their hands; and, moreover, that the prices placed upon the articles furnished had been charged at reduced prices with reference to the low value placed upon the dollar. For the amount due and unsettled, for supplies received at Yokuhama, and on account of which Purser Eldredge paid Moriyama Yenoske, imperial interpreter, $350 in gold and silver, that they might be assayed and tested at Yedo, they consent to receive the dollar at the valuation now placed on them—that is, at the rate of 1,600 cash for the silver dollar.