HONGKONG.
693
No. 33
1902
RATE OF EXCHANGE FOR PAYMENT OF PENSIONS UNDER WIDOWS AND ORPHANS' PENSION FUND.
Laid before the Legislative Council by Command of His Excellency the Officer Administering the Government.
HONGKONG,
No. 170.
SIR,
DOWNING STREET,
27th August, 1897.
I have the honour to inform you that the Legislative Council of the Straits Settlements has adopted the following resolution, viz. :-"That from the 1st January, 1897, the pensions payable to Widows and Orphans, resident in a country with a gold standard, from the Widows and Orphans' Pension Fund of the Colony be paid through the Crown Agents at the rate of 3/- to the dollar, the difference between the amounts so reckoned and those payable out of the Fund (at the current rate of exchange) being made good by the Colonial Government."
2. The Government of Ceylon has adopted a similar rule, taking the Rupee at 1s. 6d.
3. I should be prepared to approve the adoption of a similar rule in Hongkong, if the Legislative Council would be willing to vote the money necessary for carry- ing out the proposal as an act of grace.
4. It should be understood that the official members of the Council should not vote on the question as it affects them personally.
I have the honour to be,
Sir,
Your most obedient, humble servant,
Governor
Sir W. ROBINSON, G.C.M.G.,
&c.,
&c.,
&c.
50-17.7.02.
C. P. LUCAS,
for the Secretary of State.