having been calculated at the Bank rate of the day to which payment has been deferred by the Colonial Government, and not that on which the contribution was due.
to- and repeatedly applied for- by this Department involves a very considerable loss to the Imperial treasury, and as I am charged with the care of Imperial financial interests in this Colony- it is my duty to request you will be pleased to make good the deficiency and pay through me the sum noted in the enclosed Memorandum amounting to $5,675.55 which is the loss on your cheque calculated at the average drawing rate prevailing the first half of the month following the quarter for which the contributions respectively fell due.
Or be so good as to afford me such explanation as may prove satisfactory to the Lords of Her Majesty's Treasury. I desire to specially draw your attention to letters: Downing Street, 16th July 1867, and War Office, the June 1870, which distinctly lay down that the Military contributions are to be "made at current rate of exchange, as they become due,