at home at the par of 4/2.
I don't like the plan of going to the
having considerable balance in Banks for orders: the Govt. by selecting
to make large
special times of the year remittances might to effect them more
the charges.
Generally than having to pay a number of small ones at all times of the year, we should practically at the
end of the year
find
that a large sum
money had been spent under the
one sole "cost of remittances" without
having the power to exercise a proper
control over
The question of the military contribution
is rather a
curious one:
When it was
originally fixed at £20,000, it was for some time paid in this country by the Agents, till the Treasury asked one day that it should be paid to their Officer in the Colony; Sir R. MacDonnell aggrieved at this, pointed out that as exchange then ruled 4/4 to 4/6, if the Colony were made to pay at the par of account 4/2, it was practically imposing an additional
5
percentage on the Colony, as they could then buy £20,000 with a smaller number of dollars than they
always voted; and the
Treasury assented to its being paid
at the current rate of exchange.
With the altered value of the dollar, the Colony is now
losing
by this arrangement, which it made
in its own interests.
I don't see that it affects the question of the pay of the Civil Servants: if the Military contribution should be reconsidered, it will be best to fix it in local currency.
One point fresh now strikes me is the question of "Savings" alluded to by Sir A.K.: supposing a
Policeman
has no family at home, & therefore putting his savings in some other investment
than an
Albert & European
Society, he would have no claims under our last despatch to remit any money. I was against
acceding to
insurance payments, but as
both
at