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The local currency pein, a silver currenoj, a neavy Loss was maue in exanaule as owers nau to make their ulscursements and keep their accounts in local silver currency.
The Insurance premia on these ships were also a very heavy item on account of the age of the ships and also because local British Insurance Companies were able to raise their rates for the reagulls set out in connection with the Jock Companies.
All salaries and working costs were greatly increased during the period unuer review,
The owners of the snips protested in every possible way and all payments by them were made under protest.
Although the omiers protested in every possible way they took no active measure which woulu in any way obstruct the
Government at the time, as they felt that the Government's action was in furtherance of the Great War wien nau reached
a very critical stage at that time, The snipowners were of the opinion that ultimately all questials woulu be seûtled
justly when time could be given to go into details, Further-
more, whilst reserving all their legal rights the owners took every possible step to assist the Government in every way, and that this is muoubtedly the case is apparent from the
remarks of the non, The Colonial secretary of this Colony
when the second reauins of the ordinance took place before
the Legislative Council. We do not think we shall be out
of order in here quoting the remarks of the Hon. The
Colonial Secretary :-
"The thanks of the Government are above all due to the
"owners of the ships, upon whose loyal anu patriotic co-
"operation it has been able to rely from the beginning to
It must de remembered that the owners foшnu
"themselves deprived of a very large part of their earnings,
"at a time of maximum freights when their competitors were
"the end.
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