SILVER COINAGE.

Dominion, Volume 2, Issue 540, 22 June 1909, Page 5

SILVER COINAGE.

..'; AUSTRALIA'S; MINTINff^PROJECT; '"[ (By Teleeraph.-PrcßS Associatlon.-CopyrlEht,)' ' , :; ''' . Melbourne, Juno 21. ' , Sir. John Forrest, Federal •.'Treasurer; has completed 'arrangements, with the' Imperial Mint, .whereby, a . Commonwealth 'issue of silver coins will;;be minted shortly. '; ~' ■-■■; Under, tho .'■ agreement : with,_the;; Imperial Treasury, the! Commonwcalth-.wiii:mint lie'i tween £150,000.; ally, ;the; Australian profit on which' will exceed, £40,000 ;a! year.' '." \'J.\ a-:: ; . : :-;/.■:■■;. /The head, of- the King' will, a'ppear;;o!V: ono sido of-the coins, and. some easily.recognised Australian.; design; pn ,the reverse. ... '. - ; ::

•, [When the establishment of a mint arsenal .was first'mooted-by Messrs. Corbet and M'Cay, of the Perth nnd Melbourne mints, respectively: it ; wns sureestal.that the mints which proaucfd the coins might, also engage in'the: manufacture ;of cartridgo cups, ifftcr long consideration of. the original proposal, and many reports -upon.,it by Imperial and Australian nuthonte, - the matter wns shelved 1 by tho Doakin Govornmont. It was. revived, however, bytho ex-Ministorof Defence, (Senator Pciirce), who had always shown himself > favourable 'to tho idea. The scheme;for the establishment of ti joint insnt and .cartridge factory ..was np. P r ro T',i ! ;.Vj' th % ■■governor, or the Hint, Mr., William Grey Ellison-Macartney, who was supported in his opinion by Mr. C.- Napier Hake,- inspector of/explosives, and Major mitney, general manamr of the Colonial. Amnmiii,tion. Company..;-. The Deakin Government has now* , taken up i the scheme as regards silver comago. In the■ original .reports ■ the"profit^ .-to Australia on'silver coinage was Variously «sH-' mated at from to, J!60,000 a year!] '■■