57
Government could make itself independent of such a contingency providing for the Subsidiary Coinage required in the Colony, in it would be a matter for congratulation.
8.
I must confess that at present I do not clearly see how this is to be done, but I may take the opportunity afforded by "Mr. Gary's application for an increase of me Dollar Notes" to express my concurrence in the opinion entertained by Mr. Austin in his Despatch of the 10th June 1878, W. 68, that such an application should not be granted and that in lieu thereof the Government should issue a sufficient number of Notes that would meet the requirements of the place, and as would ensure a sufficient profit to meet the possible loss that may be incurred by the importation of Subsidiary Coinage.
9.
The immediate issue of 74,000 Dollar Notes by the Government would doubtless stop the present Gap, but at the end of 12 months there would be another failure in the local currency and another demand on the part of the Bank for ...
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Government could make itself independent of such a contingency providing for the Subsidiary Cinage required in the Colony,
in
la
it would be a matter for congrativ= lation.
8.
I must confef that at clearly see how
present I do not clearly
this is to be done, but I
may
take the opportunity afforded by "Mr. Gary's application for an
me Dollar Notes ique
mereave
of me
emcurrence in
to expres my the opinion entertained by M. Austin in his Despatch of the 10th June 1878. W. 68, that auch No application should not be granted"
the i
and that in lien thereal the Guemment chould issue.
W
ao
sufficient number of Moter would meet, the requirements of
the place, and as would ensure
W
at
sufficient profit to meet the posible los that time be manned by the
mony
any
importation of Subsidiary Camage.
9
The immediate ifove
74,000 by
the Bank of me
Dollar Natis would doubtless stop
the present Gap, but at the
end...
of
12 months there would
be another failure in the local
4 eurreney and another demand
ww
the
part of the Bank les
را
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