CO129-331 - Public Offices - 1905 — Page 314

in agento!-

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past we have put the requirements of the rupee cur-

rency before the demands for dollars, and we have re-

cently warned the Banks that the latter must always

but the tenders for dollars

give way to the former;

are still felt to be an inconvenience occasionally,

and it would be more satisfactory to have it made

clear by agreement that we can only undertake extran-

oous coinage when the mints have leisure from Indian

requirements.

3.

We think further that the rate of seignior-

age charged for the coinage of dollars requires revi-

aion.

It was worth our while to accept one per cent

when the mints were idle, but that rate does not re-

compense us for the trouble that the work now entails,

Tho charge made for and it barely meets expenses.

the coinage of rupees for the public before the mints were closed was 2.1 per cent, and we consider that 2

per cent will be a fair and reasonable rate to charge

in future for the coinage of dollars.

4.

We accordingly suggest that notice of the

termination of the agreement in six months be given at

once