Page 371
The amount as estimated by Mr. Kinder for 1888
I would propose that the Government Notification of 20th December last be rescinded so as to reduce during a certain period.
The seigniorage on bar silver and sycee as on Mexican dollars, and in the coinage we have to consider, in the first place, the loss by interest during the time the silver remains uncoined if converted into dollars if the Mint charge is only 1/2 % and if exchange which is rising continues to do so, even 1% might leave a margin.
Should the Mint not be kept in full work, the Government might also with advantage sell in the market for the payment of its dues to the Chartered Banks buying bullion. The Mint charges on bar silver does not exceed 10% and expenses when the premium on Sycee is 8%.
Certificates as specie in reserve against Notes issued.
(signed) W. Rennie, Auditor General.
The coinage of $10,000 a day at 10% or $20,000 at 5% would give a certain amount of seigniorage.
At present prices, bar silver and Sycee could be profitably coined.
Acting Colonial Secretary
12
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371
ilmus as edimated by Mr. Kinder for 1588
amant le & 2 See a
march and I would
propese that the Government Notification of 20th December last be functia scalinded.
A
so as to reduce during a cutam period.
on bar silver and eyew as on Musical dillan- and in
the
Ao
vsignerage
avell
ordw le
Rave
los by interest during
coinage de consider, in the
converted into dollars if the Mint charge
we
only 1/2 % and if wohange which is
rising continues to do
continues to do so even 1 of
might leave
a margin.
Shared the
Mint not be kept in full worn the
Goverment might also with advantage silon in the market for the payment
by
2
of its
of the
chartered Banks ifning holes, Mint
aven tu
on bar silver does not woord 10% and
penses when the premium
Syrie 8%.
Certificates as specis
in reeve
against
Notes
Nolin ifenced..
(signed) W.Kr.
Rennie, Auditor Gerreral.
The
comage
of $10,000 a
day
af
9th apuit, 1866.
10% or $20,000 at 1/2 of
at 1/2 of would
givn
Ais
Ame Cofrest
M
the aversing text.
shaun
At present prices as already bar silver and Dyese could be profitably
Acting Colonial Secuting
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