to their
papers Lordships, Sir E. Lytton would
again remark the
inexpediency of allowing the existing state of things
Continue
I.F.E.
3
Memorandum
The Legal Valuation of the Dollar - as it affects
the Military Service.
195
The Question raised by the Treasury appears to be, whether the payments to the Civil, Military, and Naval Establishments at Hongkong should be
made in British coin, or in Dollars at a valuation
increased beyond 4/2d, at which it was
fixed by the Order in Council dated 28th November 1844.
It is admitted by all parties, that the attempt
to introduce British coin, as the circulating Medium
at Hongkong has proved a failure, and it would therefore be manifestly unjust to pay the Civil, Military, and
Naval Establishments in other than the current
Coin of the place, dollars. For in the former
case
either the Government Servants would be compelled