Sessional_Paper_1930 — Page 77

PRESENT REGULATIONS.

63

At Exchange 1/10d.

(Including amended Estimate of

H.C.L. Allowance).

(Privilege Rate £1= $12. H C.L. Allowance of 8% or 16%)

SALARIES COMMISSION. DIFFERENCE.

(Revised Estimate at exchange 1/10d.)

Sterling Salaries

$4,613,889

$ 5,562,262

$ 384,373

H.C.L. Allowance.

564,000 j

Dollar Salaries

3,897,207

4,551,768

654,561

TOTAL

$9,075,096

$10,114,030

$1,038,934

At Exchange 1/9d.

(Privilege Rate £1-$12. H C.L. Allowance of 9% or 18%).

Rate £1-$11.4286 H.C.L. Allowance of 15% (Revised Estimate)

Sterling Salaries

$4,613,889 |

$ 5,932,103

$ 683,714

H.C.L. Allowance

634,500 f

Dollar Salaries

3,897,207

4,551,768

654,561

TOTAL

$9,145,596

$10,483,871

$1,338,275

At Exchange 1/6d.

(Suggested arrangement for pay- ment of salaries now under consideration *).

(Current Rate £1

$13.2872*

H.C.L. Allowance of 9% or

18% t).

Sterling Salaries.. $5,126,542**

(Rate £1-$13.2872. H.C.L. Allowance of 15%)

$ 6,920,786

$1,089,244

H.C.L. Allowance.

705,000*

Dollar Salaries

3,897,207

4,551,768

654,561

TOTAL

$9,728,749

$11,472,554

$1,743,805

Vide paragraph 6 of my despatch.

*NOTE. This proposal was not adopted. Instead, the sliding scale stopping at £1

$12 was retained and the H.C.L. Allowance was extended to 12% or 24% when exchange is below $1-1/7d. The increase for the year above the amount provided, which this extension would involve is estimated at $377,400. The figures for this item should therefore be :-

Sterling Salaries

$4,613,889

H.C.L. Allowance

797,400

Dollar Salaries

3,897,207

TOTAL

$9,308,496

and the difference :-

Sterling Salaries

$1,509,497

Dollar Salaries

654,561

TOTAL

$2,164,058