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have however failed to induce Merchants and Bankers to take any large quantity of subsidiary coinage even with an allowance of 7 and 8 per cent discount. They require 10, which would make it a more wasteful coinage than dollars.
The delay in disposing of such coins renders Bankers unwilling to incur the inconvenience of having their money locked up so long that the loss of interest swallows the apparent profit by the discount originally allowed Government.
10. I must here observe that Mr. Kinder, Master of the Mint is at present absent on leave in Japan, where he is occupied inspecting the Japanese Minting operations, and ascertaining the practicability of obtaining free circulation, if not a preference for, the Hongkong dollar in that country. The inclosed returns have not therefore been submitted to him, but I am not aware of any reason for doubting their accuracy, as the Superintendent of the Mint Bullion Office has expended considerable pains in their preparation.
As I observe that some English Public journals by last Mail report that the Mint was receiving large supplies of silver for coinage and was actively at work, I presume this report...