CO129-453 - Acting Governor Claud Severn - 1919 [1-3] — Page 30

To moreose the crates I Jension;& prefand to undertake the rush that the

the future to revise a

ittay

S expenditure might eventuall exceed the income

The QAC form's out with you al points ragoud Walt fith font in Jan 1909 stood

the Fund, when taken over

المحله

ab $371,3211

a that of the former system Jete fonts fazing 6 to confound interest hand continued,

the total amount to the credit Jite fund and the and of

1918 would have been $1,089,993. (According to the

Blue Book the pensions found o

Born 1917

totalled

only

$16,992.) He also points out the obvious made pay

Stle pussions faid, = present day circumstances?

this has hear fointed out in

one J

recently of individual item, afflying

for the on morease of Lensions

the result I wore

conditions. There can be no doubt that the margin of

afety is considerall wider the is at fusent messy,

and that the forbi

well afford to deal mora

pnerously in the matta.

? Authorise the manding of a

L

"meer valuation ofthe fund, aufprove of this being

1

entrusted to local Chartered Acct?

; 2 affear,

27

also, mevase in pensions, payable under the existing tables, of 50 to with effect from 1 Jan 1919-

274

17/3/19

L. A.J. Harding

hey

we have your

obrom please?

KB 8/3/18

Discussed with mislabels 1077/19

M. Güüdla

Mr. Beckett,

This is really the most absurd despatch I remember from a Colony on this subject; and I have had

experience of a good many. I showed it to Sir E.Stubbs.

and discussed it with him and he agreed that it was

so silly that we had better wait till he got out before answering it so as to avoid the necessityof pointing

out to an Officer Administering the Government what a

Delusions about complete ass he had made of himself.

the amounts of the pensions which a Widowe and Orphane Pension Fund could pay (which in any person not an Actuary ought in themselves to qualify a person for admission to a lunatic asylum) have been common enough.

It has been reserved to Mr. Severn to propose a

valuation of a Fund which ceased to exist ten years ago

and that this valuation of a non-existent Fund should be carried out, not by an Actuary, but by a Chartered Accountant. Both deal with figures certainly, just as

a surgeon and a butcher both cut flesh, but Mr. Severn

Would

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