12
(in so far as they
are issued locally)
I am not sure that all the assumptions
upon which Mr. Acheson's minute and draft are based
are correct. As I read the telegram, the Governor
proposes that officers on sterling salaries should
suffer in two ways:-
(1) by having their salaries/ converted into
salaries
dollars at a fluctuating rate which would always be
considerably less favourable than the current rate;
and
(2) by the imposition of a percentage levy as
indicated in Part I of the scheme. The combined
effect of these two measures is estimated to impose
an equal burden upon the sterling-paid officers a
that imposed by the levy described in Part II upon
the dollar-paid officers. If this is correct, it
quite
is not fair to draw
fair
the comparisons made at X in
Mr. Acheson's minute, since the dollars received by
the sterling-paid officer would already represent
less than he would ordinarily be entitled to receive.
I am not equal to working out whether in fact the
proposed arrangement does achieve equality of
sacrifice, but, if it does, I should see no objection
to agreeing to it as a temporary measure, though
I agree with Mr. Acheson in thinking that, in view of
the present uncertainty, the whole thing should be
subject to frequent periodical review, and that we
should not commit ourselves to any particular rate
beyond, say, the first quarter of the year.
as
I feel, however, that, whatever may be done
a purely emergency measure, the whole situation
requires a good deal of consideration with a view to
putting these salary questions on a more satisfactory
basis for the future. The complications with which
we have to deal on this paper arise out of the
traditional