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expected to be finally returned on our hands would come to
the neighbourhood of twenty millions, an excess over
requirements of over eighteen millions.
No rehabilitation of currency in
such circumstances can possibly take place without ex-
penditure on the part of the Government and I therefore
submit for Your Lordship's consideration the following
suggestion.
5.
At present this Government is
receiving in the collection of revenue the sum of about
$30,000 monthly in the form of subsidiary coin. This coin
is paid into the Bank on Government Account at its face
value and at the end of the month Government pays to the
Bank the difference between such value and the value at the
rate of the day.
This entails a regular expenditure
of something under $3,000 every month, and the subsidiary
coin so dealt with still remains available for circulation.
I propose therefore that in
future all such money collected be placed to credit of the
Treasury subsidiary coin stock account, and that when a
sufficient amount is so stored it should be sent home to be
disposed