§ MR. DIVETTsaid, that great inconvenience was experienced at the present time by the public in getting a supply of small silver or half-sovereigns at the Bank; and he wished to know if the hon. Secretary to the Treasury saw any way of putting an end to the inconvenience?
§ MR. J. WILSONsaid, that the inconvenience which had arisen, and which still existed, with regard to the mintage of the country, was one of the highest importance. He freely acknowledged that complaints were coming into the Treasury every day of the most serious inconvenience being experienced by bankers and merchants in every part of the country; but when he informed the House that two years ago the highest amount of coin that could by possibility be turned out of the Mint, was 220,000l. a week, and that by the extratraordinary exertions of those persons by whom the Mint was now conducted, the present out-turn, instead of 220,000l., was upwards of 600,000l. a week, he thought the House would admit that, whatever the inconvenience suffered by the public, the authorities connected with the Mint had, at all events, not been lacking in their duty. During the first three months of the present year, there had been coined no less than 4,335,357l. in gold, and no less than 92,862l. in silver; and the whole number of coins, including gold and silver, turned out in the first three months of the present year was 6,100,505l. He regretted to say, however, it appeared to him, that even at this accelerated rate the supply of coin was quite inadequate to meet the increased demand. The demand during the last ten days from the Bank of England had been equal to 100,000l. of coined gold per day, an amount which it was impossible for the Mint at the present moment to produce. What was to be done, therefore, for increasing the supply of silver, unless some cessation took place in the demand for gold, it was difficult to say; supplying half-sovereigns increased the difficulty, as the number was two for one. The attention of the Master of the Mint had been directed to the subject, and, although he was willing to work night and day, the difficulty would be the possibility of assaying the gold.
§ MR. DISRAELIHas the hon. Gentleman any objection to lay upon the table the reports of the Master of the Mint?
§ MR. J. WILSONsaid, there were no reports from the Master of the Mint upon 1350 the subject; but if the right hon. Gentleman would move for one, he (Mr. Wilson) had no objection to procure it. There was a report which had been moved for as to the amount of coinage for the last three months, which would be presented that evening; and any further information than that contained, and which the right hon. Gentleman required, he should be happy to furnish him with.
§ MR. DISRAELIOf course, if there were no report, it was impossible for him to move for its production. What he meant, however, was the communications made by the Master of the Mint in answer to the Treasury.
§ MR. DIVETTHas any project been discussed with regard to the expediency of coining quarter-sovereigns as a substitute for small silver?
§ MR. J. WILSONsaid, the question had been discussed, and had commanded the attention of the Government so far that he (Mr. Wilson) had requested the Master of the Mint to have a die cut, in order to make the experiment. But there were a variety of reasons against it, as well as a great number of reasons for it. He held in his hand an American dollar in gold, the objection to which seemed to be its excessive smallness. But the great reason for it was, that for every single coin which represented 1l in value, they would have four coins; and the labour of coining quarter-sovereigns would be quadruple what it was now in the coining of sovereigns.