cost of Mexican Dollars so that the Minting charge might be covered.
7.
Another very important consideration in the success of the Mint, especially as regards the Colony, is the question of whether the Government can ever reimburse this expenditure incurred upon it, or even ever pay for its working expenses. If it cannot, it seems clear that the Mint must be given up as the position of this Colony is not such as to justify its not merely expending its small revenue - but actually imposing on the Community additional taxation to be expended on financial experiments more suited to the position and resources of India than of this Colony.
8.
358 The Cost of the Mint to the Colony may be taken as: -
Original outlay of $35,000 c.64 $21,000.
Wear and tear of Machinery say 2½% on $25,000.
Working Expenses ... $80,000
# $126,000
The seignorage at the highest proposed is only calculated at 2 per cent. Reducing from this the loss on Melting and Coinage as shown in the annexed report from Mr. Kinder of at least half per cent; the profit will only be 1½ percent, requiring a coinage of more than $27,000 a day to defray the cost. Now the utmost amount ever hitherto coined has been $15,000 in one day, and that only when all the bullion...
cost of Mexican Dollars so that the Minting charge might be covered.
7.
Another
very important consideration
the Mint, especially
in the success of the Mint,
as
not it can ever reimburse this
regards the Colmy.
is the questim of
whethe
Government for
the
expenditure incurred
upon it, or even ever
pay
foxy it's working expensess
If it cannot, it seems clear that the
Mints must be given up as the position
this Colony
is not such
to
juratify
its not merely expending its small revenne - but actually imposing on the Community additional taxention to be
expended on financial experiments more suited to the position and resources
of India than of this Colony.
But An
his don not
8.
358
The Cost of the mint to the
may
Colony mo Interest
tes
Offret A. was dis
of contener
nt et comm
No 2
१.
be taken as: -
Original outlay of $ 35,000 c.64 $21,000.
C
"Wear and tear of Machinery say 22% + 25000.
Working Expenses.
rato ever
y
80000
# 126,000
The seignorage at the highest-
proposed is only calculated at 2
per cent, Reducting from this the lofe on
Metting and Crinage
as shown in the
annexed report from Mr.
Kinda of at
wied
least half per cent; the profiti only be 1/2 percent, requiring a coinage
of
more than of 27,000 a
day to defray
the cost. Now the utmost amount ever hitherti coined has been $ 15,000 in one
day
and think only when all the bullim
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