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band 18)
2.1 and 84
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1
(6)
on London by the service which requires it;
111
(5) that, with the sxouptions to which refermas
is made in the body of the lispert, the rate fixed as above
be the official rate for conversion throughout Chin.
My Lorda cenour in these recommendations and
direct that steps be taken as soon as possible to give affect to them. They propose that the new method of fixing the official rate of the dollar should take offast as from the 1st January 1914, as from which date Their
kimate of the 22nd November 1888 is hereby osnovlled.
3.
My Lords direet that, in giving effect to the first recommendation, the rate for the purchase by the Banks of Telegraphic Transfers published daily in the Hưng
kong press be made the basis for calculating the averaga
rate, the bankers to the Chest being requested to curtify!
as to the latter's accuracy, and that such average shall
be struck on the 20th of moh month (or the 19th if the
20th is a Sunday or holiday) to take effect on the dat of! the following month, on the basis of the daily rates for
each day after the 20th of the preceding month.
4. In ancordance with the fourth recomendation,
the Admiralty, the War offies, and the Versig. vffico will raise what local currway their officers may require at places in China other than liang kong where facilities for exchange exist by the sale on Leaden of buils or telegraph transfers, and the operations of the Treasury Chart at song kong will be confined to the provision of løs:1 currency for Hong Kong itself and other places in Chinm where the foregoing såthod of raising local currency directl
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