102
of the Enclosure of the 30 November 1876 from the
Office of
The Treasury
on
which
the instructions given
to the Crown Agents to take ample time in the execution
of
the order for Subsidiary Coin, that the issue of such instructions was asked for by this Government
in consequence of the advice
given by the Crown Agent to the
effect
that
in order to secure success it would be necessary to watch the bullion market and to purchase only when the price of silver was favorable.
At the time when the order referred to was given, there was every appearance of a falling off in the late importation of Silver Coin, and, therefore, as the then supply was sufficient for many months, it was considered judicious to give full discretion to the Crown Agent to take ample time in the execution of the order.
On all future occasions the same latitude must be given to those Gentlemen, but as the Military and Naval Authorities can, as does the Colonial Paymaster, lay in their stores on the arrival of each