§ MR. DIXONsaid, he would beg to ask Mr. Chancellor of the Exchequer, Whether the Mint has lately received, or tendered for, an order for Coinage from a South American Government; and, if so, at what price; whether the policy indicated in the following extract from the supplementary Memorandum on the changes proposed in the Mint, dated November 17, 1869, is hereafter to be adopted by Her Majesty's Government—viz.—
That there would appear to be no reason why he Mint should refuse to undertake the execution if Coinages for Foreign Governments. Many Contracts for Foreign Coinages have of late years been executed at Birmingham with large profits to the Contractor; and it is obvious that the Mint, with the appliances at its command and the risk to which it may at any time be exposed of being left unemployed, could with advantage undertake such Contracts;and, whether, in his opinion, such a policy, if adopted by the Government, could be otherwise than injurious to the manufacturing interests affected by it?
§ THE CHANCELLOR OF THE EXCHEQUERSir, it is quite true that the Government have entered into a pro- 274 visional arrangement with the Republic of Uruguay, in South America, for silver and gold coinage. The arrangement, at present, is only provisional, and I cannot give details as to price. As to the second point, I have very carefully and anxiously examined the question, whether L it is possible that the whole coinage of this country could be conducted by contract; but I have satisfied myself, for reasons which appear to me conclusive, that it would not be attended with economy or security. The next question is, whether we may adopt the policy of executing orders for the coinage of other countries—a policy adopted by almost every country in Europe. We are obliged to keep up very large and expensive establishments, which have often very little to do. Last year there was a considerable gold coinage. This year it will be very light. I am, therefore, of opinion that it is desirable, rather than keep our establishments unemployed, that we should do as other countries do, and undertake orders for the coinage of other countries. I am prepared to enter into engagements of that kind, and to execute such orders, to keep our establishments not otherwise employed. As to the question of injury to parties in the manufacturing towns, I am not aware that the private coiners of this country ever executed gold or silver coinage, and therefore I do not see how this engagement of the Mint can be injurious to them. As to the bronze coinage, I believe it was executed in Birmingham; but I am bound to say that if it had been possible to employ the Mint upon it, it would have been executed more cheaply than it could be by contract. The result of my answer to the Question of my hon. Friend is that we are prepared to act for foreign countries, and to undertake the execution of coinages for them.