arabe
from the partial employment afforded to the Mint by the cheap rate at which the Banks were enabled to purchase Ichiboos, and so to coin them profitably into dollars. As I predicted, and as was indeed obviously certain to ensue, Ichiboos rose and this temporary activity of the Mint ceased.
12. That establishment is at present and has for some time been wholly without any employment. Nevertheless, I am not enabled to employ the Staff I would wish on other occupations, for at any moment a demand to coin $5000 may require every such man to be at his post.
Issues of coin are extremely unprofitable and can be made at great loss, but I think it right to diminish the facilities, which the Mint, whilst in existence, can afford to the Public, in no way. Vide Governor to Secretary of State, No 328 § b.
13. In the meantime, the Returns forwarded will, I think, enable Your Grace to satisfy yourself as to the truth of most reports, which may from time to time circulate, in reference to the actual previous operations of the Mint. I have only to add that the present rate of Exchange with India entirely puts out of the question all immediate prospect of any patronage by the Public. The rate at present gives only 218 Rupees to the
arabe
from the partial employment : afforded to the Meint by the cheap
rate at which,
the Banks
for
a short interval,
were enabled to purchase
Ichiboos, and so to cain them profitably
into dollars. As I predicted,
and as
was indeed obviously certain to ensue,
Ichiboos
rose
and this
the price of temporary activity of the Maint ceased
12.
c#
I
That establishment is at present and has for some time been wholly swithout any employment. Nevertheless
am not enabled to employ the Staff I would wish on other occupations, for
at
demand to coin $5000 may at any
Imoment
require every Such
host agai
man
small
as
to be at his
issues of coin
to
Vide Governor Secretary of State
No 328 § b
S
are exch
extremely unprofitable and can
be made at
only think it right
in
great loss, but I
mo
way
458
to diminish
the facilities, which the Maint, whilst
in existence,
can
afford to the Public. 13. In the meantime the Returns
толь
forwarded will I think enable Your Grace to satisfy yourself
as to
the truth
of
most
reports, which
may
from time to time circulate, in reference to actual previous operations of
the
Mint, and I have only to add that the present rate of Exchange with India entirely puts out of the question all immediate prospect of any patronage by the Public. The rate at present gives only 218 Rupees to the
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