February 3, 1905 (10th Parliament, 1st Session)


John Graham Haggart

Conservative (1867-1942)


My idea of a mint is entirely different from that of the right hon. gentleman. If I am not mistaken, a mint in the United States or Great Britain coins gold free to the individual sending it. In the United States the gold is taken to the mint, not for the purpose of being sold, but for the purpose of being coined into money. The miner receives the full value of his gold in money. Then it goes, in the ordinary course of trade, to the country in whose favour is the balance of trade, for the purpose of paying that balance. And the making of mints will not cause a flow of gold in any particular direction. As soon as the mint coins the gold and hands it over to the individual, the gold will go in the end to where it is due and be used for the purpose of paying the balance of trade.

Topic:   SUPPLY.
Subtopic:   FEBKUAKY C, 1905
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