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disposed of by the Crown Agents. This will entail an expenditure on account of loss to the amount of about $40,000 per annum, which is however set off by the saving of the present monthly payments to the Bank.
Pending Your Lordship's decision in this matter, I have given instructions that the amounts paid in from the current month onwards be treated in the manner suggested.
6.
I may add that a proposal for dealing with receipts of subsidiary coin in the manner indicated was submitted to Sir Matthew Nathan before his departure and that he was in favour of adopting the proposal.
I have the honour to be,
My Lord,
Your Lordship's most obedient,
humble servant,
Bmay
Officer Administering the Government.