127
even though he may not at the date of his
retirement have completed three years on the new
scales.
Similarly, where the last three years of
itterent
service have been in posts with definite salary
scales the average to be struck should be that
of the revised salaries of both posts.
FINANCE.
The sum voted for sterling salaries in
the 1930 Estimates including the exchange
compensation and cost of living allowances
amounted to just under £9,000,000. The cost
of the revised scheme at the exchange 1 equals
1/10 was first estimated at a little over
$10,000,000.
The severe subsequent drop in
the exchange rate would, in any case, have
involved an increase of the sum voted in the
1930 Budget for cost of living allowance by
some $350,000.
A recalculation of the cost
of the new scheme based on an exchange rate of 16"raises the gross estimate to nearly
$11,500,000 or a little over $2,500,000 in
excess of the sum actually voted for 1930.
Taking in to account the extra provision
which would, in any case, have had to be made under
present salary arrangements beyond the existing
vote for 1930 the Governor estimates that the
maximum extra cost of the revised salary scheme
may be put at $2,541,458 if the should fall to
1/6, but at $1,743,805 if the g should fall to
and remain at 1/6 making it necessary to abandon
the