of $10,321.96 which allowing that a portion of the profit results from a conversion of nearly $6000 of Hongkong and Shanghai Bank silver is equal to rather more than 10% an allowance for loss, Alloy etc. may probably be considered about correct.
Of Course this is not actual profit to the Government because in order to obtain the bullion for Conversion it has been necessary to borrow money at 8% per annum but the actual loss by interest cannot be calculated until it is seen how long the subsidiary Coinage remains on hand.
Hongkong 10th December 1866.
(Signed) W. H. Rennie Auditor General
(Struck off) Wodum Siv
The Mint Hong Kong 13th December 1866.
Referring to your observations of this evening respecting the producing power of the Coining Presses I may observe that new Machinery frequently becomes heated in the bearing parts. This particularly applies to Coining Presses where the bearings are of hardened Steel and until these bearings become perfectly polished by wear, the Machines frequently cannot work without injury for a limited time, particularly when such an extraordinary pressure has to be exerted as has been the case.
His Excellency Mr. H. R. G. M'Donnell C.B. Governor etc.
Colonial Secretary.