But if he has to remit dollars to England for its purchase at the prevailing low rate of exchange which has been ruling for years now, he will find that the articles can be obtained in the Colony almost as cheaply as he can obtain them from Europe.
The price of European produce in Hong Kong would be much higher than it now is, if it were not that the great fall in the purchasing price of the dollar at home had been somewhat counteracted by a favourable reduction in freight.
(Signed) In J. Jennochy Acting Colonial Secretary. 10th August 1881.
Page 342
Sept.