ik cannot be assumed that the race of interes twill remain at its present high evel during the whole period of amortization
of that
48
of 1 per cent per annum, he con-
siders that a case has been
established for increasing the
allowance to o per cent. If
it is suggested that the sinking
fund allowance might be slightly
reduced in view of the increase
in rates of interest, it should
also be borne in mind that the
that
average rate of interest during
period since 1915 40 aubstantially these years would prolabiz be
in excess of
found to exuded 5 per cent, and
that some compensation is
Hedsilly due for the feet that an
anission to make an
adequate allowance assessoå or
for
such capital expenditure He ret
koon mic in the past.
tu
If the proposed new rate
Sir P. of 6 per cent is agreea, *.
Cunliffe Lister
The would propose that it
should apply generally in the
case of all Colonies paying a
military contribution
in respect
on capital
of