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of a mint in Hongkong, in other words the payment by Hong-
-kong of the difference in value between the British dollars
to be coined and the Mexican dollars they would replace.
If a mint already existed at Hongkong the special interests
of the Colony in British prestige and trade in China would
no doubt justify the coinage there of British dollars with-
-out any profit being derived from it. But if a one per
centum seigniorage does not make it worth while for the
Indian mints to increase existing establishments it is
difficult to see how it would not result in a heavy loss
to Hongkong which would have to create an establishment
specially for the purpose of the coinage of the British
dollar. The only way in which this loss could be met would
be from additional profit on subsidiary coinage if this
were manufactured at the local mint instead of being ob-
-tained from England on the payment of a general charge of
8 shillings per 1,000 coins for manufacture.
Before considering what this ad-
-ditional profit might amount to, it will be convenient to
make a rough estimate of the extent to which a one per
centum seigniorage charge on the probable requirements of
British dollars might be counted on to contribute to the
cost
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