N.Z. COINAGE
TENDER FOR ITS MINTING
DECLINED TO N.Z. FIRAIS.
(Per Press Association—Copyright).
WELLINGTON. July 1?
The .following statement has been issued by the New Zealand Manufacturers’ Federation ;—• “This federation requested the Coinage Committee and the Government to give New Zealand firms an .opportunity of tendering for the milling of the , new silver coinage. The committee’s recent report may create an impression that this was done, and that the New Zealand firms were under-quoted by the Royal Alint. Such, however,. i s not the case, as no New Zealand firm was given an opportunity of tendering o.n terms similar to those allowed the Royal Mint. Aloreover, the icommiFee’s report stated that the lowest New Zealand quotation was £210,000, whereas wo ihave definite knowledge tha-5 at least one) New Zealand quotation was very much lower than that - so that the committee’s report is defiiii'lely false in this respect. “With regard to the Royal Mint offer, the Treasury has declared. , that ‘the Alint is ito make no manufacturing charge/' and that the other re-coinage costs (presumably the £30,000 freight) will bo covered by the sale of a portion of (the .surplus bullion, all the profit to be made from the remainder .of the surplus bullion to be handed- over ,to the New Zealand Government. If - this is a complete and correct interpretation of (the contract, it means that the Royal Mint will not receive one’shilling to .covej. it lS own production expenses. In other words, the Royal Alint will he out of pocket to the full amount of the manufacturing costs. involved. In yet other words, the (Royal Alint, wifi do the job at a dead lo s s- of at least £IOO,OOO - a nd perhipC "£200,000. ; “This federation ■ MlniVt.er; or Treasury, in (fairness to New Zealand industry, to confirm or correct this statement of the position.”
STATEAIENT BY THE TREASURY.
'WHY^ROYH'^MINT'-'GbT-TENDER.
' WELLINGTON. July 14. The Treasury s issues V (Statement today—iin " the course- of -which it says that ,'the 'Whole question of calling tenders from New Zealand firms was settled beyond all doubt by the definite loffer from the royal mint to make .no manufacturing charge, and to allow the Dominion the whole of the profit arising out of the l’ecoinage. In 'til's reispect it was quite correct that t-he -royal, mint would be out of pocket to the (full amount of the manufacturing coats involved.
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Hokitika Guardian, 14 July 1933, Page 6
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395N.Z. COINAGE Hokitika Guardian, 14 July 1933, Page 6
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