§ Mr. D. G. SOMERVILLEasked the Financial Secretary to the Treasury (1) whether, in view of the suspension of the gold coinage, he will consider the desirability of closing down the Royal Mint in the interests of public economy, and enable private enterprise to undertake such home coinage as may be required and also any foreign contracts for which the Royal Mint has hitherto competed;
(2) the cost to the country of carrying on the Mint; whether it made a profit or loss in the last financial year; and how many days its work is normally occupied with home coinage requirements, especially in view of the suspension of the gold currency?
§ Mr. HORE-BELISHAThe net expenditure from the Mint Vote in 1931–32 was £18,708, but the Mint paid over to the Exchequer Surplus Receipts of £87,722, thus showing a profit of1202W £69,014 on the operations of the year after paying for the redemption of over £227,000 of redundant silver coins at home and abroad. It is impossible to say precisely how much time is given to United Kingdom coinage only as requirements fluctuate from year to year. In 1931–32 out of 164,000,000 coins struck, about 100,000,000 were for the United Kingdom. The permanent staff of the Mint is normally fully occupied with the production of silver and bronze coins, official medals and dies to the orders of the home Government and other Governments of the Empire. Such other orders as the Mint executes are generally carried out with the assistance of temporary staff.