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| The Mexican Silver Dollar was a tried and tested currency that was widely accepted throughout Asia and the Americas. It had been based on the Spanish Real and had possibly spread from use in the Spanish colony of the Philippines. The Chinese economy was in a state of collapse but the Mexican Dollar was readily available and transferable. The first Chinese yuan coins had the same specification as a Spanish dollar, leading to a continuing equivalence in some respects between the names "yuan" and "dollar" in the Chinese language for many years. The image shows a locally issued Mexican Dollar from 1901. |
Charles Orr's Memoirs Volume 3
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