GOP Y.
Enclosure 8.
218
Colonial Secretary's Office,
Hongkong, 14th. February, 1905.
Sir,
With reference to your letter of the 25tb. ultimo in which you on behalf of the signatories to the petition for Exchange Compensation from the subordinate members of the Civil Service which was presented in 1903, again submit your case for the consideration of the Governor, I am directed to inform you that His Excellency has carefully examined the conten- tions urged by the petitioners in the previous petition and
reiterated by you in your letter under reference and instructs
me to state that the petition of 1903 submitted at a time when the dollar was at 1/64 was based mainly on the fall of silver whereas in your letter submitted when the dollar is at 1/112
stredis laid on the fact that prices are independent of exchange fluctuations and thus makes it clear that exchange compensation
is not a satisfactory method of meeting variations in prices.
The request for exchange compensation is one therefore which
His Excellency finds himself unable to entertain.
With regard to the alternative request that
a substantial increase should be granted in dollar salaries His
Excellency has examined the schedule which was prepared when the
former petition was under consideration which showed that since
1898 there had been substantial increases in the salaries of the
appointments held by the petitioners, and has noted the increases
that have been made since the date of that petition.
Taking into consideration the pension and
leave
. H. D'Aquino, Esq.