621
these coins would rather more than cover the estimated
cost of running a mint ($130,000) and any seigniorage
received for coinage of British dollars would practically
represent the profit on the mint. At present therefore
the chance of a mint at Hongkong paying its way practical-
-ly depends on the average demand for subsidiary coins in
the last ten years being maintained.
But it is not safe to assume that
this will be the case. This year up to date there has been
no export of these coins from Hongkong and it is always
possible that in the interests of the Canton Mint attempts
might be made to stop all importation of them into China.
Again if a general Chinese currency were adopted British
subsidiary coins would be excluded ipso facto
from that
country. The requirements as regards this coinage of the
Colony itself are very small and would contribute an in-
-appreciable amount to the support of a mint which if
maintained in these circumstances for the coinage of Bri-
-tish dollars would involve a heavy annual charge on the
Colony it could ill afford.
9
It is for these reasons that I am
+
averse to the experiment of re-establishing the Hongkong
Mint