375
DRAFT.
State.
The dollar had again fallen and
shewed signs of falling still further, and
dollars was
much dissatisfaction was caused not only by
the fact, to which reference has already
been made, that an increased number of
required to meet expenditure,
which had to be defrayed in sterling, but
also by the consideration that owing to the
fluctuations of exchange it was impossible
for an officer to be sure from month to
month of what was the actual value of the
salary of his appointment, considered in
terms of sterling.
The obvious solution of fixing the
value of the dollar was for many reasons
impracticable, and the only alternative which
presented itself was to fix the salaries in
sterling so that, whatever the price of the
dollar might be, an officer might be sure
that