I am assured by Fur[Mr?] Phocalta that the Straits dollar will not be intrinsically inferior to the best Mexican dollar. But on this point, I am likely to be guided by the opinions of the Governor and of their Officers at Hong Kong, which appear from their Despatch to be highly favorable to the success of the British dollar. With British reference to the subject of device, to the degree of fineness and to the weight of the new dollar, the suggestions offered by Mr. E. B. Robinson are fully concurred in by me.
The quantity of dollars required in China for the purposes of the Hong Kong Government is estimated by Mr. E. B. Robinson at 300,000 annually, amounting to about £600,000. The execution of such a coinage is calculated to occupy the Royal Mint fully for about three months. It is probable, however, that not more than one-third of the amount stated would require to be executed at any one time, and that more would be desired for a just experiment.
With the present engagements of the Mint, an opportunity for undertaking the work in question is not likely to occur before October or November next; but it is probable that by that time the new dies for the dollar will be ready for use.
It is rather probable, however, that about the time mentioned the Bank may begin importing gold into the Mint, which would cause the immediate suspension of all other operations, and the postponement of the dollar coinage to perhaps the January following, or even later. As the Mint is now established, different coinages cannot be carried on profitably at the same time. Another contingency is that the occupation of the Mint with the dollar may oblige the Government to contract for a further supply of the new Bronze Coinage.
Page 311
Co
am assured by Fur Phocalta that the
Sew Count weel
not intrinsically inferior
! the best thexican dollar. But on thus point, then redshif
are
likely
Cumestareist
I be guided by the opinions of the Governor and of their Offence at Ting thing, which affer Deshalch to be highly favorable to the
buy the.
success of the Bulish dollar. Eith British reference to the subject of device, to the
degree of fiveness and to the weight of the
new dollar, the suggestions offered by
A
in G
Robinson
by full concuren
his Despatch. have
quantity of dollars requera en China for the purposes of the Home Gvernment
is extimated by die B Robinson
at 300g000 an
en alive
Corange
Annually
about £ 600,000
The exccution of such
a
is Calculated to occupy the Royal Mint fully for about three It is probable however, that not save than one third of the amount
Months
311
stated wo ald require to be executed
E
B
at any
me time,
a that more In
aldbe
desired for a Just experiment. With.
the present engagements of the mint
offertunity for
dertaking
the
work in question is not likely te
before betober or
Kovember next; but that
as the new dies for
probably as early the dollar will be ready for
It is
rother probable, however, that about the time mentioned the Bank.
may begui einforting gold into the mint, which would cause the carmediate suspension of all other operations, and the port - = ponement of the dollar coinage to perhaps the Schnary following
even later. As the Paint is now established.
has different Commages Cannot be carried.
profitably at the same time... Inother Contingency
is that the occupation of
the Paint with the Dollar
may oblige
the Government to contract for a further: supply of the new Bronze Coinage, whet
DE
Stated
Might
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