very carefully revised by the Comptroller General and the Auditor General even then amounted to $450,000. This has been since increased including all expenditure on it. It is quite time as remarked by me in my Despatch of last December that if subsidiary Coin be made with only 80 per cent of Silver instead of 90 here and in Europe on account of as in the case of Dollars we should have to go to the Mint to not less than $520,000.
Against that expenditure, the only profits received from the Mint have been $18,823 as explained in despatch No. 373 of last month. A portion of those profits consists only of the credit taken by the Mint for alloy silver in the subsidiary Coins struck for Government although a large portion of that coinage still lies unavailable in the Treasury in consequence of the unexpected difficulty of getting rid of it.
The profit made is incurred on a large outlay of interest on the silver employed. As the Seignorage charged has been reduced one half since last year, and is now only one per cent, a figure so low that it would require an annual coinage of 13 millions of dollars upwards of two millions merely to pay the Mint's current expenses.
The 18th of December.
53.
1.
very carefully revised by the Cinditor
General
and the tictal
even then
-#-
amounted to $450,000. This has been
since increased including all expenditure
n
118
it. It is quite time as remarked by
me in
my Despatch of last. December- that if subsidiary
Coino be made with
only 80 per cent of Silver instead of 90
here and in Europe
on account
of
as in the case
of Dollars
we should
of go
the Meint to not less than $520,000.
ے کرے
Against
amst that expenditure. the only profits received from the Meint
get 100 instead of
parts silver but, till
dollars for 80
for 80
we can induce
the Public to take them, not merely
my
mo
have been $18,823 as
explained in despatch N° 373 of last month. A portion of those profito consists only
of the credit tatten by the Maint for alloy
silver in
the sandesidiary
as
Coins struck
for Government although a large portion
of that
comage
in the Treasury
still lies unavailable
in
of
consequence
of the
unexpected difficulty of getting rid of
profit made,
is incurred
om
but
a
is
lop of interest the silver employed.
As the Seignorage charged has
The 18th of December.
half since last
53.
been reduced one
only
one instead
of
and is now
per cent a figure
would
so low that it
an annual
require
As of 13 millions of dollars upwards of
of
year,
two
camage of
merely
to pay the Minto current expenses
DEX
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