impolitic, and the latter alternative would I think be peculiarly
Land
the Colony at the
the Colony
upon present moment; for I cannot help feeling that even assuming the fairness of requiring to contribute towards it's Military expenditure the circumstances connected with the establishment
of
the Mint entitle it at present to special consideration and exemption. The Colony at it's own sole expense and risk is investing £50,000 in an undertaking which will benefit largely British Commercial interests throughout the East, and effect a direct saving to the Imperial Exchequer of not less than £37,500 per annum. But the Colony itself does not expect to derive direct addition to it's revenue from this large expenditure, even if the scheme should be entirely successful : for it would be most unwise to attempt to levy any larger seignorage than would suffice to cover the working cost and expenses of establishing the undertaking.
12.
It is doubtless more convenient that at this distance
the proposed Mint should be