No.383.
Hongkong.
0.0.
40004
Government House,
Hongkong, 28th August, 1902.
274
Sir,
I have the honour to submit for your consideration the enclosed copy of a letter from the Treasurer on the subject of the rate of exchange for conversion of the Crown Agents transactions into silver currency, which is laid down by Rule 151 of the Financial Instructions.
Enclosure
August, 1902
2.
Mr. Thomson drew attention to this matter in his memorandum dated the 25th of August, 1900, a copy of which was enclosed in Sir Henry Blake's Despatch No.412 of the 10th of September, 1900.
3.
I submit that a system which, for no other object but that of securing a uniformity with that in use in certain other Colonies, imposes upon this Colony a tax of some $34,000 per annum in the shape of Military Contribution on a purely fictitious revenue, is not only open to the strongest objection but is extremely impolitic. For did the facts pointed out by the Treasurer become generally known in the Colony, I fear that a very bad impression would be created, and that too on a subject which has given rise to a good deal of friction in the past.
4.
I beg to point out by the following examples in which the figures are taken from the enclosure to
THE RIGHT HONOURABLE
JOSEPH CHAMBERLAIN, M.P.,
8cb... &c. &c.