2.
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reimbursement from loan funds require Treasury sanction to exemption from military contribution it is requested that this may be obtained.
Section 2 (xi) Revenue from profits arising
from the Crown Agents routine realisations.
calisations.
This revenue
might arise from many sources and is carried to the exchange
account.
(a)
The principal items are -
Withdrawals from Joint Colonial Fund for current
purposes.
(b) Family remittances.
(c) Advances to officers.
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to other Administrations.
(d) Sale of stock.
As regards (a) money is remitted to the Joint Colonial Fund
at, say, 1/4d. Part is withdrawn when the Treasury rate is, say, 1/31⁄2, and in a later month part is withdrawn when the Treasury rate is 1/44, the differences in dollars being
a
carried to Exchange a/c. Regarding (b) family remittances
are recovered by deduction from salaries monthly but as they do not appear in the Crown Agents Cash Account until the
Account
following month a difference invariably occurs which is adjusted by a transfer to Exchange A/e.
Similar differences
arise with (c) Advances where recovery is effected at a rate
other than the Treasury rate ruling in the month in which the advance was made. Adjustments arising from (d) occur when the Crown Agents take advantage of a favourable opportunity for a sale of stock and reinvest in some other security.
It is of course quite conceivable that an exchange account of this nature may shew a debit at the end of the year and would with a rising dollar exchange. A few examples
have been shewn above but other cases will arise from time to
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