CO129-350 - Public Offices - 1908 — Page 380

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C

373

DRAFT.

10. These measures supplied a satisfac-

tory solution of the question of exchange,

as it then existed, but they had been adopted

at a time when the exchange value of the

dollar was low, and when the dollar, after

1

a long period of depression, began to rise

the opposite difficulty presented itself.

Officers now began to receive considerably

fewer dollars than before in respect of the

same sterling salary and in 1906 they again

applied for relief, pointing out that the

increase in the sterling value of the dollar

did not entail a corresponding increase in

its local purchasing power and that there-

fore they were suffering a considerable loss

of salary.

1. The Secretary of State at first de-

clined to move in the matter, on the ground

that in the matter of remittances to England,

&c., officers were no longer affected by the

rate