CO129-558-8 Revision of salaries 19-8-1936 - 11-2-1937 — Page 98

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their expenses (leave expenses, school fees.

probably insurances, etc.) have to be met in

sterling and part, i.e. living expenses in the

Colony, have to be met in the local currency

(it may be noted, however, that even the latter

would be somewhat affected by the variations

in the value of the local currency as such people will probably be dependent to a fair

extent on imported goods). It is inevitable,

therefore, that some compromise must be adopted

by which, in effect, a portion of the salary is

stabilized in sterling and a portion in the local

currency, so that some protection is provided

against fluctuation in either direction.

I am

not sure, in these circumstances, that the

logical solution is not to convert a fixed

proportion of the salary into local currency at

Cransform that bet a fixed rate, i.e.

salary and convert the remaining proportion at

into a dollar

n/a

the market rate of the day, i.e. retain/as a

sterling salary.

However, the exact compromise

to be adopted is clearly a matter of expediency,

and if present arrangements for this matter

have been found acceptable there seems to be no

reason to disturb them until some final solution

can be found.

5. Came

1. 2. 1936.