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will them become too dear to be profitably minted here. Moreover, this proposed establishment in Japan of one, if not of two Mints,
informed by Sir Harry
Parkes will ere long cut off that source of employment for the Mint here...
9. Looking therefore to the probable Future and supposing the Mint were to coin not one- two- or five- but even ten millions of dollars per annum, it would still be maintained at a loss - whilst to coin the amount required at one
per cent
to pay it's expenses, would necessitate
a large increase of Staff and Machinery.
10. In point of fact however it is extremely improbable that the Mint coinage would ever reach half the amount required to clear its expenses, whilst on the other hand if the Seigniorage
were raised to 2 per cent not one ounce would have been received since last January
11.
There is no doubt the existence of the Mint here would occasionally be a great help to