If you're a blacksmith, you can easily make 1m/hr in niff, at least on average (maybe less if it's crowded or your gears suck). Many people make more, even without SQIs, especially if your gears are good enough to provide a decent leech while at the same time greeding everything.
1m/day is not a fair amount to be making unless it's only 1 hour of game play per day. If that's all you can make in niff in a day, I suggest you go to toy factory with a thief class character as you can make more than that in a day just by stealing cakes, although it certainly takes hours (cakes are not 100% drop, but they can be vended for around 3k last I checked).
What class are you?