502
the dollar; with the result that the amounts paid for normally two years at salaries have been reduced, though no change whatever in the price of commodities or in the cost of living has taken place.
1. The principle on which exchange compensation is granted to officers on a silver basis is that they are paid the difference between the average rate of exchange for the month and a 3/- dollar.
The conversion from a silver to a sterling basis took effect by turning the dollar salary into sterling at the rate of 3/- to the dollar: small odd sums being omitted.
The annexed Table (A) shows that in the case of the officers therein mentioned the monthly payments under the old and new system are practically identical.
b. The dollar had remained at the rate of 4/5 till 1874, after which date it steadily declined, as shown on the annexed Table (B). The relief which has been granted to Civil servants at different times in consequence of the decline in value of the local currency is as follows:-
I. In 1880, family remittances were granted to the extent of half the officer's salary, the dollar having fallen to 3/7.
II. In 1890, salaries were re-adjusted. At this period the value of the dollar was, for 1887, 3/1; for 1888, 3/2; for 1890, 1/5; and for 1891, 3/1.
III. In 1904, Exchange Compensation was granted on half salary, the dollar having fallen to 2/-. One year's arrears were also granted.
IV. In 1901, Exchange Compensation was extended to the whole salary: the dollar having...
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502
the dollar; with the result that the amounts paid for norrly
two years at onleries have been reduced, though no change
whatever in the price of commodities or in the cost of living
has taken pince.
1. The principle on which exchange compencation is
granted to officers on a silver basic is that they are
paid the difference between the average rate of
exchange for the month and n 3/- dollar.
The convertion from a cilver to a sterling basic roc
effected by turning the dollar calary into sterling
at the rate of 3/- to the dollar: manll odd sunc
being omitted.
-
The minexod Table (a) shows that in the cnce of the
officers therein mentioned the monthly payments under
the old and new cystear are practically identical. b. The doller had remined at tile rate of 4/5 1111 1074,
after which date it steadily declined, as rhern on the
wmezed Table (8). The relief which has been granted
to Civil fervintz at different timer in conceevonce
of the decline in value of the local currency is ec
follows:-
1. In 1880, family remittanced were granted to
the extent of half the officer's celery, the dollar having fellen to 3/7.
II. In 1890, cularies rere re-adjusted. at thic
period the value of the dollar was, for 1807,
1868,
3/1: for 1880, 3/2; for 1990, 1/5; and
for 1691, 3/1.
III. In 104, Exchanre Compensation vac grunted
on half calary, the doller having fallen to 2/-. One your': arrears vere alco grunted. IV. In 1201, Exchange Compencetion res uxtonded
to the whole calary: the dollar chering o
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