CO129-114 - MacDonnell - 1866 [7-8] — Page 375

bare

any premier.

um at all

slow.

The

ou w

bar

of the new line of

opening of the

Steamers between California

and

China

which is in contemplation for next year may modify the foregoing reasoning I by causing the principal supplies of silver for the East to come direct from the producing countries instead of passing

by England; and the adoption

of

a

gold

currency in India if carried out will

greatly diminish the demand for silver. But the

are

primary

consideration is that

hardly likely to have the billion on the opening of the mint and if not should the mint be left idle or how should it be utilised?

The immediate production of

dollars as possible I

many Hong Kong hold be be of the greatest importance for

the sooner

they

are circulated and known

370

the sooner will the Chinese learn to appreciate them and if

of in the first year of the mint's

existence no loss is entailed

on Government

and a goodly number of dollars are

compared in circulation

a

great

object will have been attained. The required to prevent actual loss I take to be simply the difference in cost between the mint idle and the mint at work for the Colony is bound for the present be supposed in either case.

difference

That

is made up of the expense of

coals and additional local Staff

which