CO129-519-4 Adjustment of exchange account- payment of military contribution on profit on exchange 10-9-1929 - 10-6-1931 — Page 32

8.

37

ENID

present and not restrict them to long term investments and

current bank deposits.

13.

To sum up, therefore, I solicit Your Lordship's

sanction to carry to revenue from Military Contribution

Suspense Account the sum of $461,540.13, being the 20%

assessment on the dollar exchange profits resulting almost

entirely from the forced realizations in 1925-1926, and to

exempt similarly the existing and the future "profits" of

the same character which may accrue on the Crown Agents'

routine realizations.

14.

but

I may add also that the exemption of the

dollar profit would constitute a considerable immediate

benefit to the present financial position of the Colony.

The revenue has undoubtedly recovered to some extent b

there are still many public works awaiting attention for

which it has been found impossible to provide in the

Estimates for 1930.

I have the honour to be,

My Lord,

Your Lordship's most obedient,

humble servant,

Governor, &c.