It is my opinion, as well as that of Mr. Matiorin, and of all those whom I have consulted, that if Ster Majesty's Government were to authorize the immediate issue of a new British dollar for payment of the Imperial Services in China, pending the establishment of the Houstong Mint, the dollar so issued would at once be at a premium as compared with the Mexican Dollar.
The eagerness with which the Chinese have availed themselves of the new British Dollars at par, and would be only too glad if they could be allowed to send Silver to be coined for a mint charge at Tower still, pending the opening of the mint here, if the Establishment in London should be enabled to coin a larger supply than that required for the payment of Imperial obligations.
The success of our new subsidiary tokens serves to strengthen this opinion, and in support of it further I may mention that I understand the Banks here would be willing to undertake to give Mexican Dollars for every British Dollar issued.
There is therefore, I think, reason to believe that the immediate issue of British Dollars from the London Mint would not only effect a material saving to the Imperial Exchequer but would be found advantageous to the public.