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become expedient for
expedient for the Government to purchase the Bullion and make such profit out of it, as the Mint charges leave after paying expenses.
In my opinion no demand for Bar Silver or Sycee for the purposes of coinage, could ever put their price over the Mint outturn.
When the price goes over the Mint outturn it will be due to other causes altogether.
The ultimate success of the Mint undoubtedly turns on the question whether the British Dollar will ever be freely accepted in the currency of China. With a Nation whose very shopkeepers have never developed trade beyond its first principles of selling a certain weight of a commodity for a certain weight of Silver, which is their universal standard of value - the introduction of a coin to pass by tale must be surrounded with difficulties; and unless with the aid of the Chinese Imperial Government, it almost appears a hopeless case.
This Colony has however opened so much on the Mint that it must be the desire of every one to see it become a success, and I hope it will not be abandoned until a further brisk trial be given to it, having in view the suggestions of the Commission.
It has been idle for some time, your proposal to reduce the seignorage.