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my Despatch of the 14th March - which indeed it can scarcely be intended to be, as it omits all allusion to the most important difficulty, which concerns this Government - namely how an establishment like the Mint is to be effectively maintained during its interval of failure by a Colony which cannot pay its current expenses.
I would likewise be sorry that her Majesty's Government should found any plan of future permanent action on the complicated calculations as to exchange with which Sir Hercules Robinson justifies the original project. Such calculations when tested by practice are too frequently found deceptive through the omission of some consideration, which has been forgotten till prominently brought to notice in the practical working of the experiment.
6. I hope therefore from Sir Hercules' Despatch to the present formation of the Mint, which has of late been receiving more Patronage than formerly from the Public, who have been able to take advantage of the low Seigniorage charge of ½ per cent to convert Japanese Ietchiboos into...