of exchange.
472
3. Mr. Stanhope feels that one of these computations is the correct one.
No doubt that the former
The Treasury rates of exchange are merely approximate figures governing adjustments between Imperial Departments and individuals, and in many cases only affecting book entries between different Departments of the same Government. Admittedly, they are only correct if taken over a long series of years, sometimes for and sometimes against the individual concerned. The market rates of the day must, however, be looked upon as absolutely correct; the Colonial Government properly uses them every quarter in making the payments in adjustment of their Military Contribution, and they seem to be the only figures that can be used for a purpose of this kind.
4. Computed in this manner, the expenditure posted against the vote of £8000, amounted on 31st March last to £1,591, leaving £4,409 unexpended.
(3)
still ...
exp No. last given in papers before us from Cell sent.
5. ...
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of exchange.
472
3. Mr. Stanhope feels that one of these computations is the correct one.
No doubt that the former
The Treasury rates of exchange are merely approximate figures governing adjustments between Imperial Departments and individuals, and in many cases only affecting book entries between different Departments of the same Government. Admittedly, they are only correct if taken over a long series of years, sometimes for and sometimes against the individual concerned. The market rates of the day must, however, be looked upon as absolutely correct; the Colonial Government properly uses them every quarter in making the payments in adjustment of their Military Contribution, and they seem to be the only figures that can be used for a purpose of this kind.
4. Computed in this manner, the expenditure posted against the vote of £8000, amounted on 31st March last to £1,591, leaving £4,409 unexpended.
(3)
still ... exp No. last given in papers before us from Cell sent.