Publisher's Synopsis
Excerpt from Currency Reform in the Straits Settlements
We find that, in the early days of the European colonization of Malacca, the community showed a decided preference for the dollar of Charles IV., and would not accept readily the dollar of Ferdinand VII. When it was first brought into circulation. It is also recorded that the dollars of Mexico and South America were, prior to 1808, regarded with suspicion, and passed at a discount of three to seven per cent., whereas the Carolus dollar of the same weight and fineness went at a premium of four to fifteen per cent. The Carolus pillar dollar, or, as the natives called it, the cannon dollar, long remained the favourite coin, until the difficulty of pro curing it caused its disappearance from the market.
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