CO129-350 - Public Offices - 1908 — Page 382

380

C

DRAFT.

remained at that figure, while the previous

system was to remain in force when the

dollar was at or below 2/-0.8., when the

3

dollar was above 2/- the salary of an offi-

cer drawing $1,000 with exchange compensa-

tion would be calculated in the following

1.

manner:

$1,000 at 3/ - 3000 shillings or £150.

S

£150 at 2/- to the dollar =

$1,500, which is

the actual sum that the officer would re-

ceive.

14 At the time when this arrangement

was introduced, it had the effect of an in-

crease of salary as the exchange value of

the dollar was more than 2/-, but this result

was merely temporary. The dollar has now

dropped to a point well below 2/-, and there-

fore the new arrangement has automatically

fallen into abeyance and will only become

operative again if when the dollar rises

above 2/-.

16. The