they enjoy
now
opportunities of "Squeezing"
-11-->
Government debtors, which would of course be less frequent, if a person owing say 100 Dollars could produce that exact number in coins recognised by the State, for the same, and demand a receipt
20. I notice Sir Hercules friendly suggestion that Her Majesty's Government might advance sufficient bullion to the Mint to keep it in full working order
Just however and no doubt frequently hereafter minted would simply mean more bullion if it means more lofses, and I presume Her Majesty's Government would scarcely insist on the Bank's going into a speculation, from which the Bankers and general Public keep aloof, except on understanding that the entire loss attending the operation should be borne by Her Majesty's Treasury.
27. As I have already expressed the opinion that the circumstances, which render Coin manufacturing profitable, are unlikely to recur except during brief and distant intervals I cannot regard the maintenance even by the Imperial Government of a very costly establishment in a high state of efficiency as a prudent measure.
Moreover the shorter the intervals during which more powerful machinery and Staff for reasons of Scale could realise a profit the more should be the machinery and I have stated that for these coining power of 200,000 dollars per day would probably be required to pay.
I have however no wish to prevent by further
they enjoy
now
opportunities of "Squeezing"
-11-->
Government debtors, which would of course be lefs frequent, if a person owing say 100 Jaels
could pro
duce that exact number in coins
reconized by the State,
for the same.
and demand a
receipt
20. I notice Sir Hercules friendly suggestion
advance
that Her Majesty's Government might sufficient bullion to the Mint to keep it in
full working
order
Just
тол
however and no
doubt frequently hereafter
minted would simply
more
bullion if
mean more
་་4““
lofses, and
presume Her Majesty's Government would Iscarcely insist on the balony's going into a speculation, from which the Bankers and
general Bublic Keep aloof, except
understanding
an
the
#
that the entire lofs attending
Mide Governor to
N172
The
50
borne by Her Majesty's
operation should be borne by Her Treasury.
27. As I have already expressed the
opinion that the circumstances, which
render Coin manufacturing profitable, unlikely
to
are
recur except during brief and distant intervals I cannot
regard
say
the maintenance even
سلام
that I would
by the Imperial
Government of a very costly establishment in
а
high state of efficiency
as a
prudent
meabure.
Moreover the shorter the intervals
during which more powerful
Sandy of Scale Nip. of the Staff
reasons a
and
a
profit could be realized the
should be the machinery and
I have stated that for these
coining power of 200,000 dollars
per J day would probably be required to pay.
have however
no wish to prevent by further
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