§ The restoration of our gold coinage continued satisfactory through the year, £2,100,000 in light sovereigns and half sovereigns were withdrawn during the year at a cost of £22,466, making a total of £36,300,000 withdrawn since the operation began. The loss per piece is less by a small fraction of a penny, indicating, of course, a steady improvement in the general condition of our gold coinage in circulation. Now, I have completed my view of the past and the present, and I turn to what I hope will be a more interesting, and I hope also a more agreeable task—a consideration of the finances of the future.