The work of the British Mint is done gratuitously; the expense of coining gold into sovereigns is borne, not by the merchant or banker, or other person who sends the gold to the mint, but by the payers of taxes. It is difficult to see the justice of this. No doubt it is a matter of national concern that sovereigns should have a national stamp which guarantees their purity and their weight. But it is no part of the functions of a government to supply the country with its currency; trade must supply the currency by means of which it is to be carried on; the legitimate function of government in the matter is limited to authenticating the coinage. Another closely kindred function of government consists in enforcing the accuracy of weights and measures. This ought to be done, so far as possible, at the expense of those who use the weights and measures; and it would be equally reasonable to require that those who take gold to the mint for coinage should be charged with the expense of its coinage.

Read 18th December, 1888