CO129-357 - Governor Sir Lugard - 1909 [7-9] — Page 624

625

actuumit, of erkanch eild to easn orly mi as noftelsengeḥ tot ebau

not shiur des steh od g nsed gałyært 000,sek sevo nem:["UVOS

.000.000,28 · Tavo quidzewior to simet në no e-o-tung zarð

of aryl vldmdong (won blow anosceoneq siff

satılamon Jon won argið æðkenen add an earn *go mi netrenn að

.935ritoze bezit s edif

bramovath ne of SVM (IIw $190° m

Ap mrcise brosby-lb esdon-sized to furorts sis no runna raq

YING GRACE

I

yotvar ne seiði, Mfc to 28oo (a) ete? TIL E

*K** & **

( +5:

ut thee? (a) to bre mrox tot el nokIInd tå egemoga (d)

mood bumabanico ed of o*£* STA: Avent alle mutorow

tore dos eď van sasló to (o) ben (2) Send #dchaon

out ti mevs Jual sild to I DISCRÌRus eda natateado od #netxe

Alfonz Ará not mouna teg makuldsere to des

Visdebat 11 6784

mus valide yi to dear *

Of AJARİTeo I

*TRUS PBZava muid to en. Zibiotike hora sunez e

,000,000, så to meet

I am strongly of opinion that Government should undertake it, when exchange rises to the neighbourhood of say 2/- if it does

so in the near future. Of course all objections would be removed

if it were believed that the dollar is now about what it will

be for a good while to come.

These are the points which occur to me:

if you or His Excellency have anything further to enquire about

I shall be glad to furnish the information.

On the whole considering the present rate

of exchange I see no objection to the Mercantile Bank obtaining the right of note issue, as their local issue would not much

more prejudice a Government issue later on.

Example of effect of depreciation roughly.

$4,000,000 invested at 1/8.

..£333,333

34% thereon..

.211,666 at

1/8...

.$140,000

£333,333 at 2/-.

.$3,333,333.

Depreciation.

666,666.

£11,666 at 2/-

116,666.

000, 000,08

000,000,4% no 726 000,000,6% mo

! Geof

000.08 $..

000.80 $

000, 5 000,! 0002

C

***...Beter to Jeno Lam: A -deevak maingnam to read

...................not[lud to emanga?

...nei me

GRILL

•8.4 0-0,20

ZIGEATH 25 nokastaangen to demone Jassi Ad

Brow Yot bewel's ed but...009 how I też enumfors 20 ejam.

wie to zremay enamy ƐI no SI Juoda galist 366,682 to 109 od mile at genh & not pnlwolfe 246 że bezearal bort s oð ritong 7611

enotenals het spe .mekerase este at 000,088 to sumerafi amer

bra exting ode or gelzonido vino sila at er best molt loenyuh asle

1

Diminution of Revenue equals $23,333 per annum leaving

net revenue of $41,333.

(sd.) A. Thomas on.

15th. December, 1908.