That answer might be returned to this Portuguese Minister to the following effect: -
The currency of Hongkong is on a silver basis, the Mexican dollar being the standard of value. All accounts are kept in Colonial currency, and all the Colonial Civil Servants are paid in it. The necessity therefore does not arise of posting an official value to the dollar, as is done in the case of Macao by the Decree of last month.
Enclosed is a copy of a letter dated September last, when the salaries computed in dollars were raised.
No official rate of exchange is fixed by the Colonial government, except for the payment of half salary to officers on leave, or pension to officers living in this country.
The rate for remittance purposes was, till 1890, $4 1/2 to the dollar, Sterling being issued at 4/- for issue of leave salaries, and 3/9 for issue of pensions. No further change has at present been made in these rates of exchange.
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