"The cost of commutation, on the above scale, would be -
15 chief factors, at 3,000l L45,000
37 " traders, at 1,500l 55,500
18 shares held on retirement, about 14,000
- - - -
L114,500
========
"Without allowing a year's furlough, the above amount would be reduced
about one-sixth.
"The outlay would only be called for in the case of such officers as
are already retired, and of such as under a new agreement might not be
re-engaged. The retired interest of the officers who might enter into a
new engagement would be provided for in the revised deed poll.
"As a set-off for the outlay on commutations would be a large reduction
in the pay of officers, to be hereafter noticed, and the Company would
also receive actual value for their money; and on buying out the
wintering partners they would become possessed of their 4/10th share of
the profits of the trade.
"Under the present organization the pay of officers in the service is
about as follows: -
Governor-in-Chief L 2,000
16 chief factors 12,000
35 chief traders 14,000
Clerks, about 10,000
- - - -
L38,000
=======
"The following would probably prove a more efficient staff: -
Governor-in-Chief L 2,000
Lieutenant-Governor 1,250
4 councillors, at 800l 3,200
25 chief traders, at 300l 7,500
100 clerks, at various salaries, about 10,000
- - - -
L23,950
=======
"The saving of 14,000l. per annum would soon reimburse the
Company's outlay in buying up the present interests of the factors and
traders.
"The system of making the pay of officers (of the upper grade)
dependent on the success of the business, has worked well, and might be
advantageously continued, in a modified form, to be hereafter noticed.
"The duties of the officers of the proposed reduced staff would be
adapted to the existing distribution of the territory into departments
and districts, which are as follows: -
"There are four main divisions - the Northern, Southern, Western, and
Montreal Departments, roughly bounded as follows: - the 'Western'
embraces all the country west of the Rocky Mountains; the 'Northern' is
composed of the country east of the mountains, as far as Lake Winnipeg
and Lac la Pluie, and from the American frontier to the Arctic Sea; the
'Southern' embraces the southern and eastern shores of Hudson's Bay;
and the 'Montreal' extends from Lake Superior down the Gulf of St.
Lawrence to Labrador. These departments are divided into districts, and
in each district are several posts.
