of the master of the Mint, and approve of the Regulations made by the Colonial Government
With reference, however, to Regulation, under which the charge for Seignorage with, at the expiration of the 4th
Month after the opening of the Mint
The 3
be 2 percent, my
Lords think it
desirable that I should
transmit, for the purpose of
being forwarded to the Governor
of the Colony,
an
extract from
a
letter addressed to this Board
by the Officer in charge of the
Treasury
Chest at Hong-Kong
on the 28th December last
stated
Under the circumstances
d by
that Officer,
as to the
views of the Mercantile
Community respecting
the rate
of
233
of Seignorage, my Lords apprehend that it will be found that 2 percent is a higher charge than
it is either desirable or
necessary to insist on.
It is stated
By
The Master
of the Mints, in his letter of 13th March, that a coinage of dollars
can be executed in London at
a
charge of 1 percent, which is the
rate proposed as the rate of seignorage at Hong-Kong
The receipt
of dollars during
the 3rd and 4th months after the
opening
will be
5 The Mint
The experience gained during
these months
will probably be
a guide to the amount which may be desirable finally to settle the charge for coinage;
and