been spent, and that further expenditure was required to complete the works.
2. The exact expenditure in dollars is not known to me. I am informed by Mr. Stanhope that the figures shown in dollars agree in the military and in the Colonial records, but in converting the dollar expenditure into Sterling, the Military Authorities have taken the market rate of exchange at the days concerned, while the Colonial Government has used the Treasury rates of exchange.
3. I concur with Mr. Stanhope, thinking that the former of these computations is the correct one. The Treasury rates of exchange are merely approximate figures governing adjustments chiefly between Imperial Departments and Individuals. In many cases, they are only book entries affecting different Departments of the same Government. Admittedly, they are only correct if taken over a long series of years, being settled in advance sometimes for, sometimes against, the individual concerned and settled...
The market rates...
been spent, and that further expenditure
was
A
" required
the works.
to complete
2. The exact expenditure Ивановский
in dollars is not beson
me
I am but
it appears to be th I am informed by hr. Stanhope that the
figures shewn in dollars
Agree
in the military
and
in the Colonial records,
but in converting the
dollar expenditure into
*
Sterling
the Military
Authorities have taken the
Manket rate of exchange
at the days concerned,
should be adopted in the present case
483
while the Colonial Government
has used the Treasury
rates of exchange.
3.9 Concur with M. Stanhope
thinking that the former of these computations
in the coved one. The Treasury rates of exchange
are merely approximate figures governing adjustments chirfly between Imperial Depart-
ments and Individuals.
I in many cases only
book entries.
affecting
-between different
Departments of
the same
Government. Admittedly
they
are only Correct if
taken over a
long series of
years being settled in advance
}
tele some times for Sometimes against
Concerned
& settled
the individual
The market rates
offs
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