567
as it does not exist, the Estimate for next year will be $187,168, an increase of $33,881. This is chiefly due to the fall in exchange, as contributions to England and other countries fixed in sterling, that ruling in 1893 being average 2/6¼% whereas it may and probably will be at least 6% below for next year.
2.
It should be remembered that the balance shown in the Postmaster General's report for 1893 is fictitious to this extent.
(a) A large and increasing number of postage stamps are used for revenue purposes (see Treasurer's note in Blue Book opposite stamps), thus decreasing revenue proper to the Post Office and
(b) the real revenue.
(c) The expenditure is shown less than it really was by the items already mentioned viz. Coals, Stationery, Pensions, which are debited to other votes. From the above consideration it is clear that there will be a large deficit during the current year and which will continue so long as the dollar is below 2/6 at least.
3. Again the rate of cents was fixed at the equivalent of 2½ cents (which really was at the time 1st January 1891). But now with the dollar below 2/1¾ or 25 centimes is equivalent to more than 10 cents! (If the dollar be 2/1 then 10 cents exactly = 25¢ or 25 centimes), so that there would be no breach of any understanding to raise postage to the amount suggested.
567
as it does not exist, the Estim. ate for next year will be $187, 168, an increase
of $33,881. This is chiefly due to the fall in exchange, as contributions to England and other countries fixed in sterling, that ~ ruling in 1893 being average 2/64% where as it may and probably will be at least 6° below for next year.
are
2.
он
the
It should be remembered that the balance shown in the
on
Postmaster General's report : the working for 1893 is fictitions
to this extent.
(a) a large and increasing number of postage stamps are used for revenue
purposes
(see
Treasurer's note in Blue
Book opposite stamps), thus decreasing proper to the Post Office and
(6)
the real revenue.
>> C
(6) The expenditure is shown
less than it
was
Freally by the items already mentioned viz. Coals, Stationery, Pensions, which
are debited to other votes. From the above consideration it is clear that there will be
a
large deficit during the- current. continue so long
year and which will as the dollar
as the
is below 2/6 at least.
3. Again the rate of geents was fixed
equivalent of 21⁄2 which really was at the
24 time (1st January (1891). But now with the dollar below 2/13 25 or 25 centimes is equivalent to more than 10 cents! (of the dollar be 2/1 then 10 cents exactly = 250 or 25 centimes), so that there would be no breach
of any understanding to raise : postage to the amount
the
suggested.
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