In the reply to this Letter the following Number should be quoted.
6864
01
Sir,
C. O
14840
*
20 APR OL TREASURY-CHAMBERS,
April 27, 1901
I duly laid before the Lords Commissioners of His Majesty's Treasury Mr Antrobus's letter of the 13th ultimo (40246/1901) with its enclosures respecting the proposed re-establishment of a Mint at Hongkong, and They have been in communication with the Royal Mint on the subject.
I am now directed to transmit, to be laid before Mr Secretary Chamberlain, a copy of a memorandum by the Deputy Master of the Mint dealing with the questions on which he was requested to advise, which Mr Chamberlain will doubtless cause to be forwarded to the Colonial Government.
I am to observe that, while My Lords recognize that the fact that the new Mint would from the outset be engaged in the issue of coinages already well known and generally accepted in Hongkong and the neighbouring territories is likely to be conducive to the success of the experiment on the present occasion, They are not in a position to judge whether the legitimate profits of such a Mint would cover the expenses of its establishment and working, or if not, whether the advantages to the Mercantile community are sufficient to justify the charge which would be imposed on the Revenues of the Colony.
As regards the suggestion that silver brought to the Mint by the Banks should be coined at a fixed seigniorage, My Lords are of opinion that, in view of
Under Secretary of State
Colonial Office.