CO129-348 - Governor Sir Lugard - 1908 [7-10] — Page 338

Enclosure 4.

Gov

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4.

In these circunstances the

Ordinance found among Un-official Members only two op-

-ponents in the persons of Mr. M. Stewart and Mr. H. E.

Pollock, K.C., who on the occasion of the second reading

urged respectively that a valuation of the Fund should

precede the transfer; and that the wishes of the minority

should receive further consideration. They did not, how-

-ever, press a division, owing I believe to riisunderstand-

-ing; but on the third reading Mr. Stewart divided the

Council when, in the absence of Mr. Pollock, he was the

only dissentient.

5.

I enclose a copy of the Ordinance

on which for convenience of reference notes have been

enfaced indicating the origin of each section.

With regard to Section 7 (1),

in

view of the statement in paragraph 2 of Lord Elgin's

Despatch No. 276 of the 28th. of December, 1907, to the

effect that there was no reason why sterling contributions

should not be credited at the actual rate of exchange,

words have been inserted providing that such contributions

shall be converted into dollars at the average demand rate

of exchange from the 15th. of the preceding month to the

15th. of the month of payment.

This

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