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Diagrams shewing what I believe the Secretary of State's intention in
regard to the method for estimating the rate at which salaries
are to be paid on the new schone for any month.
Month
January.
Average Period for rate calculation
Dec.15 to Jan. 15.
actual month.
Dec.15
Jan. 1.
Jan.15
/
Jan.31.
BROR
average period
T
STO... [Ita e
Case 1:-
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Where the rate for the
whole period is above 2/~
Case 2:-
Where the rate during the average period is partly above and partly below 2/- and at the end of the month below 2/-
Case 3:-
(a) Where the rate during the average period is entirely below 2/-
(b) Where it is partly
below and partly above, and at the end of the month above 2/-
Case 4:-
Where the rate for the whole period is below 2/-
Thio wavy line, indicates actual course of exchange. Thick straight line indicates 2/- rate.
Red line indicates rate during average period on which the average rate is ascertained for payment on January 31st.