CO129 Colonial Office Hong Kong Records 理藩院香港檔案 | CO129-153 - Lieut Governor Whitfield - 1871 [11-12]

# C.S.O.N: 3395.

Hany Honny, 2b. Binam bor. 1874. Received 27 December, 1871.

The Assistant Controller to X. K. Clove Esq., Governor Sir Richard Graves MacDonnell K.C.M.G.

## Subsidiary Coins for Her Majesty's Forces.

Memorandum as to the necessity of...

### Enclosure No. in Governor Sir Richard Graves MacDonnell's Despatch No. 914 of 27 December, 1874.

Memo (Copy) `1600/72` 213

by the Auditor General

The subsidiary coins imported in 1864 and 1865 gave a handsome profit of £5 per cent in consequence of the high rate of exchange then ruling (14/0.7/4), and of the payment of Seigniorage, the premium on bullion, (1 per cent) cost of manufacture to the Mint (3 1/2 per cent), and Freight and Insurance (3 per cent).

With the present rate of exchange (14/4 1/2) which, it is likely to remain rather than advance, and the scarcity and dearness of bullion, we could not now anticipate...
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