2
Enclosure 3.
C. O.
40246
[RECE
REG 10 DEC 00
1441
Chartered Bank Of India,Australia & China
HongKong, 17th.September, 1900.
The Hon.
The Colonial Treasurer.
sir.
10
I now beg to reply to your letter Na
76m of 29th. August, which would have been answered sooner but
I was awaiting to see if you could lend me any books or pa-
pers bearing on the working of the old mint, which, however,
you have been unable to do.
The question of re-establishing a Mint in this Co-
lony can be looked at from 3 points of view viz;-
- 1. the Gov-
ernment; 2. the Banks; 3. the Public.
1. From the Government point of view presumably the chief 1-
dea is that of profit. With a Mint here it would frequently
be possible for the Government to buy in HongKong bar Silver
at its actual intrinsic value measured in HongKong currency.
For instance bar Silver 998 fine bought at 10.89 % premium
means getting 717 Canton Taels weight of bar silver 998 fine
in exchange for $1108.90 HongKong Currency 900 fine,both lots
of silver containing about an equal number of grains of fine
silver. If coined into small coins the Government would get
the full benefit of the difference between 900 fine and the
800 touch of the small coin, less expenses of coinage but
free of Crown Agent's commission, shipping charges and ex-
change