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a certain amount in any one year.
As the discount at present is
about 8 per centum the loss would on re-melting and sale
amount to only about 3 per centum at most, and such a
process would thus facilitate the re-establishment of the
currency.
4.
If Your Lordship agrees with the
above I would suggest that the limit be put at about one
million dollars nominal value per annum.
I have the honour to be,
My Lord,
Your Lordship's most obedient,
humble servant,
A. E. Kennedy
Officer Administering the Govern-
-ment.