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tribute such a proportion of the cost of its defence as it reasonably afford. I entirely acknowledge the necessity of this principle, and all that I ask is that it should be applied to the existing circumstances. The concession of my demand would involve a material but temporary reduction of the sterling amount of the contribution, and it would of course be understood that, cæteris paribus, the reduction would be removed whenever the value of silver might regain the level which it occupied when the Contribution was fixed at its present amount of £40,000.
8. As regards the amount of reduction that should be granted, the Unofficial Members of Council are of opinion that it would be fair to fix the Contribution at the equivalent of the number of dollars that sufficed to satisfy the demand when
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