No. 309.
Mr. Bingham to Mr. Evarts.
Tokei, Japan, September 15, 1879. (Received October 16.)
Sir: Referring to my No. 766, of date the 2d of April, 1878, wherein I brought to your notice an article of the Japan Times, of that year, wherein, among other things, it was declared by the editor that the treaty powers were entitled to demand of Japan new guarantees and safeguards, “when restoring by treaty revision her imperial right of coinage.” I now take pleasure in noting the fact that on the 12th instant, without waiting for any such demand of the treaty powers, this government, in the exercise of its clear right to coin money and fix its value, has by due notification declared that the Japanese silver yen of 416 grains weight and 900 fineness, shall be received at par with the Mexican dollar by every department of the government when tendered in payment of custom duties, or on any account opened or to be opened in Mexican dollars, and shall, when tendered in payment of any sum payable in Mexican dollars now due, or which may hereafter become due, be received by all Japanese subjects in full payment thereof.
It is gratifying to know that this government has had the courage to coin money, fix its value, and declare it a legal tender within its own dominion, without yielding to any demand of the treaty powers for safeguards and guarantees for the exercise of its rightful powers.
I note that the foreign bank corporations of Yokohama expressly recognize the legality of the action thus taken, and from no quarter do I hear it now suggested that the treaty powers can rightfully demand of Japan “new guarantees and safeguards.”
For your information I beg leave to inclose a copy of the notification as published in the Japan Daily Herald of the 13th instant.
I have, &c.,