vuo
1968493.
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ruling during the last Quarter of the year; and I perceive
from the Financial Statement for 1893 which has been furnished to me, that this course has been adopted.
4. The Minute of 22nd April referred to above, wus, apparently to some extent, written under the misapprehension that gain on exchange on the Crown Agents' transactions, had been carried to Revenue. As pointed out, however, in Mr Nicolle's letter of 25th April, although he was informed at the Treasury that the balance of the Crown Agents' current account due to fluctuations in exchange had been carried to account as Revenue, he found, on examining the accounts "that the balance showed "a loss which had been charged to Miscellaneous Services".
5. On reference to the Annual Account for 1893, which has recently been received in this Bepart- ment, it is seen that Mr Nicolle's statement is correct,
no such addition to Revenue having been made; the net loss
only, as appearing in the Exchange Account, having been
charged to Expenditure under the head of "Miscellaneous
"Services",
The misapprehension may have arisen from certain
transactions on the Exchange Account during the year
having been recorded "above" instead of "below the line" in
the accounts, the correction being made by transfer at the end of the year.
6.
In the letter from this Department to the Colonial Office of 21st November 1893, and the reply to this letter dated 28th of the same month, copies of which were furnished to the Local Auditor in a letter
to him No 13/127 of 1st December last, the approved method of dealing with profit or loss on Exchange in Money Order
transactions
(2)
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