:
"7.
The actual opening published demand rate of
exchange on London on this date was elevenpence
and five eighths.
Ignoring the difference between the rate
fixed by the Treasury and the published demand
rate, the reduction in salary entailed by the
prescribed method of payment is, for the month of
January, approximately 15 per cent.
15.
The effect of the prescribed method of
payment on the number of dollars payable to
officers, in respect of their January salaries,
is shown by the following examples:-
Sterling
Salary
(rate p.a.)
Payable
under
me thod
previously
in force.
Payable
under
Decrease
method
now
prescribed.
£ 400
633.66
$539.05
$94.61.
600
950.50
808.58
141.92
800
1,267.33
1,078.11
189.22
1,000
1,584.16
1,347.63
236.53
1,200
1,900.99
1,617.16
283.83
1,400
2,217.82
1,886.69
331.13
16.
In very many cases officers now find that
they are receiving salaries the sterling equivalent
of which is less than the sterling equivalent of
the salaries and allowances which they were
receiving even before the Report of the Commissioners
was adopted.
424
.
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