94
mouths ending $124 March, 1877.
For the financial year 1877-8, the rate at which the dollar should be issued, will be based upon the average price of silver during the year ending 31st Dec; 1876; thereafter, their Lordships will uniformly adhere to the arrangement upon which they decided last year.
Your obedient Servant,
William N. F. Meade,
Hongkong
See also 12135-
This draft to Gorts of Straits & stood over pending the reply to our letter on 8388. That reply was received in 12136.
In the course of the conversation I had with Mr. Gardiner on the subject of that letter, under your instructions the subject of the Orders in Council cropped up: and I was rather surprised to learn that since writing 7555 they have come to a conclusion to adopt a procedure differing materially from that described in 7585; i.e. instead of passing an Order in Council once a year, or once in six months, altering the rate...