Treasury Department, Office of the Secretary, Washington, July 1, 1904. In pursuance of the provisions of section 25 of the act of August 28, 1894, I hereby proclaim the following estimate by the Director of the Mint of the values of foreign coins to be the values of such coins in terms of the money of account of the United States, to be followed in estimating the value of all foreign merchandise exported to the United States on and after July 1, 1904, expressed in any of such metallic currencies. Leslie M. Shaw, Secretary.

Country.

Standard.

Monetary unit.

Value in terms of

U. S. gold dollar.

Coins.

Argentine Republic . .

Gold...........

Peso...............

$0.965

Gold: argentine (4.824) and 1/2 argentine. Silver: peso and divisions.

Austria-Hungary ....

Gold...........

Crown...............................

.203

Gold: former system - 4 florins ($1.929), 8 florins ($3.858), ducat ($2.287) and 4 ducats ($9.149). Silver 1 and 2 florins. Gold: present system - 20 crowns ($4.052); 10 crowns ($2.026).

Belgium

Gold...........

Franc................

.193

Gold: 10 and 20 francs. Silver: 5 francs.

Bolivia

Silver..........

Boliviano...........

.403

Silver: boliviano and divisions.

Brazil

Gold...........

Milreis...................

.546

Gold: 5, 10, and 20 milreis. Silver: 1/2, 1, and 2 milreis.

British Possessions, N.

Gold...........

Dollar..............

1.000

A.(except Newf'nd). Central Amer.States.

Costa Rica........

Gold...........

Colon.....................

.465

Gold: 2, 5, 10, and 20 colons ($9.307). Silver: 5, 10, 25, and 50 centimos.

British Honduras . .

Gold...........

Dollar..............

1.000

Guatemala......

Silver....................

Peso.................

.403

Silver: peso and divisions.

Honduras.................

Nicaragua

Salvador........

Chile...............

Gold...........

Peso................................

.365

Gold: escudo ($1.825), doubloon ($3.650), and condor ($7.300). Silver: peso and divisions.

China.........................

Silver......................

Taei. . .

.661

Canton. . ..

.659

Chefoo. . . .

.632

Chinkiang

.645

Fuchau . ..

.611

Haikwan

(Customs).

.672

Hankow . .

.618

Hongkong.

(*)

Nankin.. . .

.654

Niuchwang

.620

Ningpo . . .

.635

Pekin.....

.644

Shanghai. .

.603

Swatow. . .

.610

Takau

.665

Tientsin . .

.640

Country.

Standard.

Monetary unit.

Value in terms of

U. S. gold dollar.

Coins.

Colombia

Silver

Peso

.403

Gold: condor ($9.647) and double-condor. Silver: peso.

Cuba

Gold

Peso

.926

Gold: Doubloon Isabella, centen ($5.017). Alphonse ($4.823). Silver: peso.

Denmark

Gold

Crown

.268

Gold: 10 and 20 crowns.

Ecuador

Gold

Sucre

.487

Gold: 10 sucres ($4.8665). Silver: sucre and divisions.

Egypt.

Gold

Pound (100 piasters).

4.943

Gold: pound (100 piasters), 5, 10, 20, and 50 piasters. Silver: 1, 2 5, 10, and 20 piasters.

Finland

Gold

Mark

.193

Gold: 20 marks ($3.859), 10 marks ($1.93).

France

Gold

Franc.

.193

Gold: 5, 10, 20, 50, and 100 francs. Silver: 5 francs.

German Empire

Gold

Mark .

.238

Gold: 5, 10, and 20 marks.

Great Britain.

Gold

Pound sterling.

4.866 1/2

Gold: sovereign (pound sterling) and 1/2 sovereign.

Greece

Gold

Drachma......

.193

Gold: 5, 10, 20, 50, and 100 drachmas. Silver: 5 drachmas.

Haiti

Gold

Gourde.......

.965

Gold: 1, 2, 5, and 10 gourdes. Silver: gourde and divisions.

India

Gold

Pound sterling†

4.866 1/2

Gold: sovereign (pound sterling). Silver: rupee and divisions.

Italy.

Gold

Lira.

.193

Gold: 5, 10, 20, 50, and 100 lire. Silver: 5 lire.

Japan

Gold

Yen.

.498

Gold: 5, 10, and 20 yen. Silver: 10, 20, and 50 sen.

Liberia

Gold

Dollar

1.000

Mexico

Silver

Dollar

.438

Gold: dollar ($0.983), 21/2, 5, 10, and 20 dollars. Silver: dollar (or peso) and divisions.

Netherlands.

Gold

Florin.

.402

Gold: 10 florins. Silver: 1/2, 1, and 2 1/2 florins.

Newfoundland

Gold

Dollar

1.014

Gold: 2 dollars ($2.027).

Norway

Gold

Crown

.268

Gold: 10 and 20 crowns.

Persia

Silver

Kran

.074

Gold: 1/2, 1, and 2 tomans ($3.409). Silver: 1/4, 1/2, 1, 2, and 5 krans.

Peru.

Gold

Sol. .

.487

Gold: libra ($4.8665). Silver: sol and divisions.

Philippine Islands.

Gold

Peso

.50

Silver peso: 50, 20, and 10 centavos.

Portugal.

Gold

Milreis

1.080

Gold: 1, 2, 5, and 10 milreis.

Russia

Gold

Ruble.

.515

Gold: imperial, 15 rubles ($7.718), and 1/2 imperial, 7 1/2 rubles ($3.859). Silver: 1/4, 1/2, and 1 ruble.

Spain

Gold

Peseta

.193

Gold: 25 pesetas. Silver: 5 pesetas.

Sweden

Gold

Crown

.268

Gold: 10 and 20 crowns.

Switzerland.

Gold

Franc.

.193

Gold: 5, 10, 20, 50, and 100 francs. Silver: 5 francs.

Turkey

Gold

Piaster

.044

Gold: 25, 50, 100, 250, and 500 piasters.

Uruguay.

Gold

Peso

1.034

Gold: peso. Silver: peso and divisions.

Venezuela

Gold

Bolivar

.193

Gold: 5, 10, 20, 50, and 100 bolivars. Silver: 5 bolivars.

Note - The coins of silver-standard countries are valued by their pure silver contents, at the average market price of silver for the three months preceding the date of this circular.

*The "British dollar" has the same legal value as the Mexican dollar in Hongkong, the Straits Settlements, and Labuan. † The sovereign is the standard coin of India, but the rupee ($0.3244 1/3) is the money of account, current at 15 to the sovereign.