Establishment of such a Mint would involve at the outset a considerable capital expenditure, which the Colony can ill afford at the present time, in view of the fullest works which are being undertaken.
For these reasons, therefore, I am not prepared, at present advised, to approve the proposal submitted in your despatch under acknowledgement, but I shall urgently require data from the mint regarding the supply of coins in China, for which, with the information which is available, the Government is bound to pray, with careful regard.
The proposal to establish a working mint is open to question as the working off of the Mint could be carried out at a considerable loss; it will be remembered when this estimate was made, the question whether the old Mint proposal compares favourably with the present situation was considered.
The Hong Kong Government has been informed that it is not sensible to attach too much importance to any further views which may be put forward.
You may wish to consider the merits and convenience of the scheme, and the Banks in Hong Kong are disposed to ignore such considerations.
Then I have, …
Pestablishment of such a
propose would
Mint
as you
involve at the outset a
considerable capital expenditure, which the
Colony
can ill affidat
the present times, in news of the fulles
works which
น
are
mu
senhaus Othe
вни
Large cummel less
augumento
4.
For these 473
shund & the Banks in
ffort of the scheme, inssuch reasons, therefore, I
they centurally & properly
prousiciense to thein.
own
merts and convenimuse & Here
disposed to igune
des considerations, such
as
am not prepared, at present advised, to abfore the proposal submitted in you
desfatch under acknow
The memes, of the defect te possibility of the dusmansion ledgement, but Ishall
ungently
Junid.
Watter of the
whether
data from
mint supple my three coins in China, faren which, with which the farmmment of the information which is breathing is bound to pray, the available, the furbable cars careful regard. except of sotablishing a working
open to question the working off the Mint
could be camift
at a considerable loss; proposed lunch combicall
and it will be remembered
when this extimato bas?
made, the question whether "that the old Munt purpoal Compares favo was closed affter it had with the presuch solumn been only a short time othausing heefflers of in in existence as it
was
be considered with how, y arriving at a concluind
found to wide the Haffien to me, lewer Colonial God in a
Jenssible to attach too
lo consider
b
further vis
any which
to put
forward.
You may wish
Then I
have, t
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