625
actuumit, of erkanch eild to easn orly mi as noftelsengeḥ tot ebau
not shiur des steh od g nsed gałyært 000,sek sevo nem:["UVOS
.000.000,28 · Tavo quidzewior to simet në no e-o-tung zarð
of aryl vldmdong (won blow anosceoneq siff
satılamon Jon won argið æðkenen add an earn *go mi netrenn að
.935ritoze bezit s edif
bramovath ne of SVM (IIw $190° m
Ap mrcise brosby-lb esdon-sized to furorts sis no runna raq
YING GRACE
I
yotvar ne seiði, Mfc to 28oo (a) ete? TIL E
*K** & **
( +5:
ut thee? (a) to bre mrox tot el nokIInd tå egemoga (d)
mood bumabanico ed of o*£* STA: Avent alle mutorow
tore dos eď van sasló to (o) ben (2) Send #dchaon
out ti mevs Jual sild to I DISCRÌRus eda natateado od #netxe
Alfonz Ará not mouna teg makuldsere to des
Visdebat 11 6784
mus valide yi to dear *
Of AJARİTeo I
*TRUS PBZava muid to en. Zibiotike hora sunez e
,000,000, så to meet
I am strongly of opinion that Government should undertake it, when exchange rises to the neighbourhood of say 2/- if it does
so in the near future. Of course all objections would be removed
if it were believed that the dollar is now about what it will
be for a good while to come.
These are the points which occur to me:
if you or His Excellency have anything further to enquire about
I shall be glad to furnish the information.
On the whole considering the present rate
of exchange I see no objection to the Mercantile Bank obtaining the right of note issue, as their local issue would not much
more prejudice a Government issue later on.
Example of effect of depreciation roughly.
$4,000,000 invested at 1/8.
..£333,333
34% thereon..
.211,666 at
1/8...
.$140,000
£333,333 at 2/-.
.$3,333,333.
Depreciation.
666,666.
£11,666 at 2/-
116,666.
000, 000,08
000,000,4% no 726 000,000,6% mo
! Geof
000.08 $..
000.80 $
000, 5 000,! 0002
C
***...Beter to Jeno Lam: A -deevak maingnam to read
...................not[lud to emanga?
...nei me
GRILL
•8.4 0-0,20
ZIGEATH 25 nokastaangen to demone Jassi Ad
Brow Yot bewel's ed but...009 how I też enumfors 20 ejam.
wie to zremay enamy ƐI no SI Juoda galist 366,682 to 109 od mile at genh & not pnlwolfe 246 że bezearal bort s oð ritong 7611
enotenals het spe .mekerase este at 000,088 to sumerafi amer
bra exting ode or gelzonido vino sila at er best molt loenyuh asle
1
Diminution of Revenue equals $23,333 per annum leaving
net revenue of $41,333.
(sd.) A. Thomas on.
15th. December, 1908.