CO129-129 - Sir MacDonnell - 1868 [1-3] — Page 275

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subject that time should be afforded for reflection and

general discusion,

I was

glad to avail myself of an offer made

by the Managers of the Chartered

Mercantile Bank and

Hongkong

Shanghai Bank. to send in half

Million of old coins for

•Hongkong

and

a

conversion into

dollars, conditionally, that

they should also send in Silver for coinage into subsidiary coins to the amount of $200,000, which I engaged

to let them have at a discount of per cent. a rate at which the Manager of the Chartered Mercantile Bank had aheady consented to receive $30,000 of that

Amon

comage, of which 10,000 still remain on his hands.

Vide Gour to Secy of State N$ 423 of 1st January 1868.

Paña ho.

b. This awangement will becure a large

reserve of

convenient

in the Colony for future

it will be more

small coinage

use when I hope

appreciated than at present;

whilst the profit thereons, with the

seignorage of 1 per cent on the half million, will produce $10,000,

sufficient to of the Maint

cover

most of the

during

a sum

expenses

the two months,

which the Master of the Mint considers

necesary to complete the proposed operation. 7. Your Grace will hence perceive the extreme improbability, often previously alluded to by

to count on

me,

of the Mint being able

sufficient returns during feertain

conditions of Exchange without a

· great

, веселье

extension of its / Machinery and staff, becomes