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probably less in India, My Lords see no reason to

doubt that the proposed charge of 2 per cent is a

reasonable one, and it appears from the later docu-

ments that the Banks are not likely to succeed in

getting a cheaper supply of an equally good coin from

Mexico.

On these grounds Their Lordships would suggest

the renewal of the agreement for coinage of British

Dollars by India at a seigniorage of 2 per cent.

With regard to the suggestion that the Royal

Mint might arrange to coin these dollars at any time

when the Bombay Mint is fully occupied with its own

work, I am to observe that the existing demands upon

the Mint accommodation do not leave sufficient margin

for undertaking any considerable share of a coinage

of this kind; besides which the rate of 2 per cent

would not cover the estimated cost. It may prove,

however, that for a charge of 2 per cent the Bombay

Mint would be able to meet all the requirements,

provided sufficient notice of demands is given by the

Banks.

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