CO129-566-21 Military contributions 7-5-1938 - 31-1-1939 — Page 33

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conditions :-

(i) If in any year the sterling value of this fixed sum,

calculated at the average rate of exchange for the year

should fall below £350,000, or in the event of a formal

devaluation of the dollar which would reduce the value

below that figure, the amount of the Contribution

shall be at once reviewed without waiting for the end

of the quinquennial period. (Paragraph 17 of the

Governor's despatch).

(ii) The Colony shall not pay in any year more than the

actual cost of the garrison in that year.

(Paragraph 20 of the Governor's despatch).

(iii) That acceptance of the system of a fixed annual

contribution is regarded as an experiment subject to

review at the end of the first quinquennium, with the

proviso that if the experiment is found to be

unsatisfactory the Council or the Colony may propose

to revert to the present basis of calculation of the

Contribution at the end of the 1939 1943

quinquennium.

This opportunity of reviewing the system is of course

distinct /