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TREASURY MINUTA DAT¿Ð
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13 AUG 15.
1913.
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1. My Lords road again Their kimute dated the 22nd
Kovember 1888 on the mode of issuing the dollar in the East
in order to secure the equivalmt of sterling in local
QUIT UN OY. ky Lards also read the neport of the Comittes
appointed by Their Limts dated the 27th February 1913 to
consider the arrangements in force under the above Kimute
and to report what changes, if any, should be made in these
arrangements.
2. The changes recommended by the Comittee are
summarised as follows :
(1) That the official rate of the dollar be fixed
monthly at the average over one month of the exchange rate for telegraphie transfers, rounded up or down, as the case my be, to the nearest farthing;
(2) that Landers be invited for the supply of
dellars in exchange either for telegraphic transfers or bills at 10 days' or three months' night, with a view to
raising the money required in the manner most advantageous to the zobequer;
(3) that experimentally bills be offered for
maller mapunts at shorter intervals than has hærstefore
bean customry, and that the amounts offered før tender
should be stated in the advertisement;
(4) that local currency be obtained so far as possible at other points than Hong Kong by the
of billi
*