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# (.58)
Rule 35 (1) provides that sterling salaries are payable monthly at a rate which will approximately he the average Hongkong demand rate from the 15th. of the preceding month to the 15th. of the month for which salary is paid.
Under the new system, so long as the dollar is above 2/- the rate is to be taken as 2/-, and when it falls below 2/- the rate is to be calculated according to rule 35 (1). The question which has now arisen is how this old rule is to be applied to a case where for a part of the average period the rate was above 2/- and for a part below 2/-. The rule was made at a time when the daily demand rate, whatever it might have been during the whole of the average period was one to which the civil servants were liable, and it remains to be seen what is its proper appli- -cation to any given month when the civil servants are not liable to the daily demand rate during the whole of the average period.
On the mere statement of the proposition, I submit with
respect, that the proper construction of the rule is to take,
in computing the average rate, only such daily rates as the
civil servant is liable to.
In the present instance it would be from 15th. November to 6th. December at 2/-
from 7th. December to 15th. December at the actual rate
below 2/-
thus there would be 21 days at 2/-
and 9 days at the lower rates.
When the meaning of the rule is examined this reasoning is, I
submit, justified.
The rule is based on the fact that salary accrues day by day;
and the practical meaning which it gives to the fact that
sterling salaries are to be paid at the current rate of ex-
-change is that the rate is to be calculated at the average
daily rates for the period of a month. For the convenience of
the Treasury this month is put back a fortnight, and the
average