A.—s.

547

Mr. ASQUITH : You would have to choose for yourselves about what you did. Sir JOSEPH WARD : Would you concede the same to New Zealand if we desired it ! Mr. ASQUITH : Yes, I think you would stand on exactly the same footing. I think that is a thing you might consider. I do not ask for an immediate decision. Mr. DEAKIN : I should like to consider it with any suggestions the experts of the Mint can make. Mr. ASQUITII : 1 make further the offer found on the last part of the memorandum as to withdrawing the worn gold coin which is at present done in this country. I offered to withdraw that at Sydney, or Melbourne, or wherever you please. That would be a great convenience to your trading community. There are those two offers, if you will kindly consider them. Mr. DEAKIN : Thank you. Dr. SMARTT : How would that meet the Colonies which do not coin their own silver { Would you be prepared to make them any allowance off the profits made on the silver coinage ? Mr. ASQUITH : We will make you the same offer as the others. Dr. SMARTT : But we do not coin. Sir JOSEPH WARD : We do not coin either, but I will accept your offer, kindly made, and will consider it. Dr. SMARTT : You do not think you can meet us in any way so long as we do not coin ? Mr. ASQUITH : You would probably find the establishment of a separate Mint in New Zealand would hardly be worth the candle ? Sir JOSEPH WARD : I think that is very possible. Mr. ASQUITH : South Africa is rather different. Dr. SMARTT : We see from the figures worked out that there is no difficulty of apportioning the profit to each Colony; consequently, you might be inclined to allow the Colony the profit made on the coining of the silver. Mr. ASQUITH: I will consider your case; and the whole of South Africa stands on the same footing as regards this—General Botha and Mr. Moor also. Dr. SMARTT : You will consider my question without committing yourself as to what might be a fair allowance. Mr. ASQUITH : Certainly, without committing ourselves at all.

Fourteenth Day, 9 May 1907.

Silver Coinage.