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When I was at the Imperial Mint on the subject of the improved appliances of M. Barre for striking the legend on the edge of the new five franc pieces, I sent M. Graham a detailed sketch of the arrangement, and as I saw many difficulties in applying the system to the presses in use here, I recommended that one of the improved presses should be ordered of the Messieurs Thonnelier of Paris, as the most speedy means of supplying the dollars required at Hong Kong.
In Graham's reply, he stated as follows. "It appears probable that the Government will not be disposed to take the responsibility of supplying the Commissariat Chests with new dollars, which possibly may not be current in China, and unless the Bankers here agree to accept them out there at their nominal value, they will not likely be received till you have the pleasure of doing so at St Helena."
It is also by no means decided, I understand, whether the dollar is to be coined with a legend; indeed, I believe the prevailing opinion at present is in favor of the usual milled edge as being the safest for circulation in China.
Under these circumstances, with Messrs. Watt & Co.'s assistance, I purpose trying to alter one, if not all the presses, to answer for coining the dollars either with or without a legend; having all the details of the Paris system, I hope to be able to design a means for producing this result with the presses already approaching completion.
As there appears some hesitation on the part of the officials of the Royal Mint...