or dollar salaries with double exchange
he paid
compensation will draw their salaries, wie
when in the Colony, at the rate of 2/-
to the dollar, so long as the exchange
value of the dollar is at or above that
figure.
When the exchange value of the dollar
is below 2/- these salaries will be paid,
as at present, at a rate of exchange
fixed monthly by the Government and
based on the average exchange value of
the dollar during the preceding month.
Officers whose salaries are fixed in
sterling will draw leave pay and pension on
the basis of the fixed sterling salary.
Officers drawing double exchange com-
dt continue to
pensation will draw leave pay and pension
on the basis of their nominal dollar
salaries at the privileged rates of
exchange to which they are entitled.
ร
3. I have, therefore to request that
>
you will place these proposals before the
Legislative Council. If the Council
approves the suggested arrangement, you
are authorised to put it in force at
once with effect from the 1st of
January last.
I have &c.
542
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