CO129-329 - Governor Nathan - 1905 [7-12] — Page 623

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establishing the mint which was opened at Hongkong in 1866

was $400,000; and that the buildings were subsequently

disposed of for $65,000 and the plant for $60,000. The

plant now would probably cost less in dollars to purchase

and more to erect than it did then, and buildings are far

more expensive. It is not considered necessary to take the

value of the land into consideration as a site on Crown

Land at Kowloon involving no actual payment could doubtless

be selected.

Assuming the cost of the buildings

and plant to be $600,000 the interest at 5% would be

$30,000 per annum.

7.

Only a roughly approximate esti-

-mate can be made of the working expenses. In paragraph 10

of the Memorandum of the Deputy Master of the Mint already

referred to, the supervising, assay, and clerical staff

for the machinery he had estimated for was put down at 15

and the workmen at 56. With the additional presses required

for dollars and 50 cent pieces 20 Europeans and 60 workmen

would not be excessive. The average of the salaries of the

22 European members of the Staff of the Hongkong Mint in

the years 1866 to 1868 was £388, say £400. The pay of

workmen