THE MELBOURNE MINT.

Globe, Volume II, Issue 144, 18 November 1874, Page 3

THE MELBOURNE MINT.

We learn from the Melbourne papers that a special meeting of the Chamber of Commerce was held on the sth instant to consider the question of what should be done with the Melbourne Mint. The sub-com-mittee brought up a report, in which the Mint was referred to " as an unprofitable and unnecessary establishment," and went on to say :—" If it be desired to maintain the artificial system now in existence, and to accomplish with greater precision the object aimed at, viz, to benefit the gold producing interest at the expense of the community, the simplest plan to make the Mint present the appearance of paying—that is to say, to cover the deficit of £IO,OOO to £20,000 per annum—would be to take away from the exporters of produce the annual gift of about £20,000, for which they did not ask and which was not intended. This could be accomplished by a small registration duty equal to half per cent ad valorem on all produce exported, except gold. Its imposition would simply amount to a reinstatement of the producers in their former position, and as such could not be complained of. But we are far from recommending this plan, consistent thought it be with the professed object of the Mint. A much more desirable and more healthy course of action would be to abolish the establishment entirely, to dismantle the building of its expensive mechanism, reship this to England, and convert the premises into a deeds registry office, for which they are admirably adapted by their construction. This would save the expenditure of a large sum of money in the erection of a registry office now required, and would thus effect a real and souud economy, both directly and indirectly. On the other hand, if the sacrifice of the really fine plant set up for the useless manufacture of coin should appear too severe a measure—although the loss so sustained would be speedily compensated for by the saving of a year or two —it might be practicable by arrangement with the neighbouring colonies to convert the Melbourne Mint into an Australian institution, and make it an intercolonial coining establishment, maintained for the benefit of all the colonies, and at their joint expense." The report was adopted.