CO129-533-13 Salaries- conversion rate of sterling 30-1-1931 - 21-1-1932 — Page 296

6.

423

" in so doing it should place a crushing burden

on the taxpayers. But Sir, what are the facts ?

It cannot be denied that the Colony is lightly

taxed. #

No one can guarantee the future course

of the dollar and even since our calculations

were made the dollar has dropped still further.

Should it remain below 1/6d. there will

necessarily be an increase in the cost of the

scheme as calculated in dollars but the

increase will be fully justified."

"If.I understood the Commissioners correctly

they did intend that an officer should

receive the full dollar equivalent of his

substantive salary, however low the dollar

may fall

14.

Throughout the year 1930 Your Petitioners' salaries were paid on the scale and in the manner recommended by the Commissioners, but on the 21st January, 1931, we received the first intimation that Your Lordship had ruled that one half of our sterling salaries was to be paid at the rate of one dollar being equivalent to one shilling and sixpence and the other half at the rate of exchange fixed by the

Treasury, viz. one dollar equivalent to one shilling and five eighths of a penny.