Colonial Despatches
The colonial despatches of Vancouver Island and British Columbia 1846-1871
Public Offices document
Mackean, Thomas William Lockwood to Elliot, Thomas Frederick 11 February 1864, CO 60:20, no. 1206, 106.
Abstract
Public Offices document.
Minutes (3), Other documents (1).
Mackean advocates for the establishment of a mint in British Columbia
for the purpose of coining the Gold that is produced in that Colony.He points out that minting in San Francisco is a loss in revenue on interest, freight, and insurance. The Colonial Office’s minutes include the observation that Mackean had made this suggestion before in 1863 but the Treasury, in 1859, had objected to the expense of running a mint. They forward the despatch to the Treasury.
Mackean to Elliot (Assistant Under-Secretary)
I take the liberty of drawing your attention to the importance
of establishing a mint in British Columbia for the purpose of
coining the Gold that is produced in that Colony.
At present all the gold has to be sent to San Francisco to be
coined, and two months elapse before the coin can be received back
in British Columbia, causing a loss in Interest alone, at Colonial
rates, of four per cent, and two per cent more for freight and
insurance—in all a loss of six per cent.
The Banks and Merchants of British Columbia and Vancouver's
Island keep all their accounts in the Dollar Currency, and the
Bank Notes in circulation in the two Colonies are in Dollars, and
as this is also the case in Canada, I would strongly recommend
that any gold that may be coined in British Columbia should be in
dollars and cents. Most of the Commerce of the two Colonies being
with the United States, in which
the dollar currency prevails, is
also another argument in favor of the adoption of that currency.
the dollar currency prevails, is
also another argument in favor of the adoption of that currency.
The Canadian Government, as you are no doubt aware, have, for
the last few years abandoned the Halifax Currency, and now keep
their accounts in Dollars and Cents.
Minutes by CO staff
Mr Elliot
I send you 2 Treasury Letters on this Subject, dated 27 May & 5 July/59. The objections therein raised together with the serious expense of erecting a Mint have hitherto conspired to defeat the object sought for by the writer. It wd be impossible to deal with this proposition witht consulting the Govr & ascertaining whether the interval of time between (59 &) 64 has removed the difficulties entertained by the Treasury 5 years ago.
I send you 2 Treasury Letters on this Subject, dated 27 May & 5 July/59. The objections therein raised together with the serious expense of erecting a Mint have hitherto conspired to defeat the object sought for by the writer. It wd be impossible to deal with this proposition witht consulting the Govr & ascertaining whether the interval of time between (59 &) 64 has removed the difficulties entertained by the Treasury 5 years ago.
ABd
13 Feby
Mr Fortescue
A memo: and draft which I annex dated in April and May 1863 will show you that Mr Mackean brought forward this subject at that time, but that he seemed, after hearing the Treasury views, to doubt whether the existing Assay Office might not be sufficient. The letters from the Treasury embodying those views were dated 27 May, 5 July & 2 Sept. 1859. I think that with reference to those letters from the Treasury we had better send them a copy of this letter from Mr Mackean and request to be favored with
their views on the subject. After hearing them we
can write to the Governor to better purpose than at the present stage.
A memo: and draft which I annex dated in April and May 1863 will show you that Mr Mackean brought forward this subject at that time, but that he seemed, after hearing the Treasury views, to doubt whether the existing Assay Office might not be sufficient. The letters from the Treasury embodying those views were dated 27 May, 5 July & 2 Sept. 1859. I think that with reference to those letters from the Treasury we had better send them a copy of this letter from Mr Mackean and request to be favored with
their views on the subject. After hearing them we
can write to the Governor to better purpose than at the present stage.
I spoke with Mr Seymour who knows that he will hear from
us in time.
I may add that the above mentioned letters from the Treasury
are written with great power and ability, and contain ample
proof that they have treated the question with the fullest consideration.
TFE
16 Feby
To Try accordingly.
CF
17
Other documents included in the file
Elliot to G.A. Hamilton, Treasury, 22 February 1864, forwarding copy
of Mackean's letter and requesting their views on the subject.