CO129-365 - Governor Sir Lugard - 1910 [1-3] — Page 135

130

omedios s'itners10 .0

aburð tryant vna to naoi a tuoni od

circulation. If only a quarter remain in circulation it would

maof a Bovioval 31 Jud,vollidell att seiminim od zwoveebas

take 12 years, and meanwhile the Colony derives no benefit what-

To vtlikdalf Laura ns bas

eometani tenit sit at 000,000,13 to

*** Małw Todišegod 084, PS£4 te mu a Bre [sxsex r rot w0,20$$

-arom asuşit enem „bokvog da:t ratta 000,ára,88 to #nerysq-

szantoo Lexoln or no titong arið brainnehm I na shuloni Tevo

❤ni Ba bragon I dołów Isɛogong # **A* .** erfi od qu numel

of bet vært daddy torre orit nisge antorboreai va bre

no itong end to moldymoeda erid »!,atv ytíuolttib snosexy ext

ezentoo a to Jibero edit of di guiosig to beerant eyautos

.ouiav taq da yomiwa adt gninistrian so? »lidsfleva tawoods

,nottajilicaríer ni dluren blnow colightsheft

.(c)

Ji (wetv ni Jostdo smaa silt diziw amerion Terito edit exlI) sud

-tentmile yderailð od blow anteb eesnido Jerið æednattarg en aaviş

vedt Jand Xabrie tisav gathu Cont ngit .Juo nevinb bus bo-

"kosit moltaívoria nt evali:00 blow anioð euentsto

Monjq vop*

yd bermat ædruroris erit nogu gribraqah brabrete erit of nolisler

.bouɛal vra ye:s dolite da "dovod* erit bna „šni) nosasð end

-novoð vd Imwa*bels żw muounkšnoe bus vbanán

.VI

na jud,botqoha orterit in volfoq siíð at skrít

.(8)

• TIEM

erit Joette vidatoerqgs ton bluew ti nysa edade to Madonɔət edi

al Illða að bounei vðiðnaup edt ti atser 02 not moitzuala

»noitsfonto

-ever from this heavy expenditure. It is stated that the Colony

has spent during the last three years a sum of $552,612 in this

process of withdrawals, and this at a time of extreme financial

difficulty, and without any appreciable result. (The argument

based on these figures is however not strictly accurate. The

annual receipts by Government of Subsidtary Coins are estimated

at $500,000 and the cost of demonetization of that amount is

$75,000 and not $184,204 (the average of the past 3 years). This

latter figure was the result of the demonétization of large

stocks ordered from England and never issued.) I am therefore

opposed to the continuance of this policy, as being futile. In

any case the amount spent on demonetization should never exceed

the vote in the Estimates for the purpose as approved by the

Legislative Council.

The foregoing resume is a purely destructive

- it is based on the schemes I

criticism, and in the following paragraphs I submit a scheme

for which I claim no originality

have criticised - and which I do not dogmatically claim to be

the best, I merely submit that so far as I can see it combines

the best features in esch, and reduces theory to a practicable

course of action, and affords a feasible scheme for discussion.

I