a
119
in full work with so small a
Seignorage.
every reasonable
it would
encouragement
seem
that
has been
given
to the
Public to send in Bullion for minting.
The Chinese Government has also declared
legal tender in
the Hong Kong dollar & legal payment of all
Government
dues, but
nevertheless the Mexican dollar still
commands a
premium
over
the Hong Kong
dollar whilst the price of Silver has ruled so high for a long period that with the exception of a temporary profit made recently by Minting Japanese Subsidies... there has
under
favorable circumstances
been scarcely a probability of the Public profitably using the Mint.
54.
No doubt there
were
errors committed by the projectors of
the Mint, who it must be remembered,
had not the aid
of
actual
experience
as
to the working of the project to guide them and therefore any
may
now
make,
on
comments which
which I have ever
made, cannot be supposed to reflect in
the least on those who
were
probably
more competent than myself to form
an
opinion based on the information then
before them.
55.
It would
appear however that
the occasional extra value formerly
placed by the Chinese
in
---
in some districts
certain coins like the Carolus dollar,
which
rose
to
a
premium at
at one time of more than 12 per cent. led to inferences
Page 120
Page 121
a
119
in full work with so small a
Sergnorage.
every reasonable
it would
encouragement
seem
that
has been
given
to the
Public to send in Bullion for minting.
The Chinese Govemment has also dectured
legal tender in
the HongKong dollar & legal payment of all
Government
dures, but
nevertheles the Mexican dollar still
commands a
premium
Lover
the Hongthing
dollar whilst the price of Silver has - ruled so high for a long period that with the exception of a temporary profit made recently by Minting Japanese Stchikes. there has
under
favorable circumstances
been scarcely a propubility of the Public profitably using the Maint.
54.
No woult there
were
enors committed by the projectors of
the Meint, who it must be remembered,
had not the aid
of
actual
experience
as
to the working of the project to guide them and therefore any
Imay
mow
make,
on
comments which
which I have ever
made, cannot be supposed to reflect in
the least on those who
Avere
probably
competent than myself to form
am
opinion based on the information then
before them.
55.
It would
appear however that
the occasional extra value formerly
placed by the Chinese
om
in
---
in some districts
certivin coins like the barolus dollar.
which
several radical
of
more
hose
to
a
premium at
at one time than 12 per cent. led to inferences
Page 120Page 121
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