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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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