I think, felt and expressed by many of the island residents, including I regret to say many of the officials; for after the issue of the Governor's notification of the Mint being ready to coin dollars, (free of Seignorage on Mexican dollars for one Month) several millions of these coins were at once sent in, and had the machining been equal to the demand, the new dollars would quickly have been thrown into circulation.
A large number of these being a legal tender within the Colony and its dependencies, would have laid the foundation of a large demand. It is, I believe, estimated that $8,000,000 to 10,000,000 are required for the currency of the Colony alone, and the benefit to all parties, save Shroffs & Compradores, of payments by tale in new dollars in place of the present system of payments by weight, would, I think, ensure a gradual displacement, for it is backed by proclamation.
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