PRESENT REGULATIONS.
63
At Exchange 1/10d.
(Including amended Estimate of
H.C.L. Allowance).
(Privilege Rate £1= $12. H C.L. Allowance of 8% or 16%)
SALARIES COMMISSION. DIFFERENCE.
(Revised Estimate at exchange 1/10d.)
Sterling Salaries
$4,613,889
$ 5,562,262
$ 384,373
H.C.L. Allowance.
564,000 j
Dollar Salaries
3,897,207
4,551,768
654,561
TOTAL
$9,075,096
$10,114,030
$1,038,934
At Exchange 1/9d.
(Privilege Rate £1-$12. H C.L. Allowance of 9% or 18%).
Rate £1-$11.4286 H.C.L. Allowance of 15% (Revised Estimate)
Sterling Salaries
$4,613,889 |
$ 5,932,103
$ 683,714
H.C.L. Allowance
634,500 f
Dollar Salaries
3,897,207
4,551,768
654,561
TOTAL
$9,145,596
$10,483,871
$1,338,275
At Exchange 1/6d.
(Suggested arrangement for pay- ment of salaries now under consideration *).
(Current Rate £1
$13.2872*
H.C.L. Allowance of 9% or
18% t).
Sterling Salaries.. $5,126,542**
(Rate £1-$13.2872. H.C.L. Allowance of 15%)
$ 6,920,786
$1,089,244
H.C.L. Allowance.
705,000*
Dollar Salaries
3,897,207
4,551,768
654,561
TOTAL
$9,728,749
$11,472,554
$1,743,805
Vide paragraph 6 of my despatch.
*NOTE. This proposal was not adopted. Instead, the sliding scale stopping at £1
$12 was retained and the H.C.L. Allowance was extended to 12% or 24% when exchange is below $1-1/7d. The increase for the year above the amount provided, which this extension would involve is estimated at $377,400. The figures for this item should therefore be :-
Sterling Salaries
$4,613,889
H.C.L. Allowance
797,400
Dollar Salaries
3,897,207
TOTAL
$9,308,496
and the difference :-
Sterling Salaries
$1,509,497
Dollar Salaries
654,561
TOTAL
$2,164,058