LETTER. FROM TH SHORETERY, H.30 AUNG BEING, LA TO THE OLGERAL SECRETARY OF THE BATY LASTA,
DATED 6th BESTEUBER, 1917.
328
17
I beg to confirm my telegram of the 26th u1
as follow: -
HONGKONG BRANCH NAVY LEAGUE STRONGLY SUPPCI
ALFLICATION HAVAL AUD MILITARY SERVICES FOR
FROM UNBEARABLE HARDSEIE GAUSED BY HIGH RATE OF EXCH.BOX WHICH REDUCES LOCAL PAY SİLVER CURRENCY
BY OVER OBETHIRD,
PUBLISH THIS LOBLUN
NEWSPAPERS.
?TLE.
In case thie queetion of local currency ie not clear to
you I will endeavour to explain the position in this part and indeed in Chins generally.
The currency of Hongkong and of China may be said to be the silver or Xexioar dollar, the sterling equivalent of which fiustustee from day to day with the price of silver on the
London or bew Yor! markete. To illustrate this pleare pote
the following eummary of Bar Silver prices and sterlin, values
of dongkong Silver dollars:-
Year.
Sterling equivalent to dongkong dollur.
Higbeat. Lowest.
Bar Silver in London.
Highest. Lowest.
1880.
521
518
4/01
3/77
1890.
541
431
3/101
3/08
1900.
301
27.
2/11
1/111
1910.
261
23-3/16
1/101
1/8-9/16.
During the ar the price of Bar Silver has steadily increased until to-day it is 49 and the sterling equivalent
of the hongkong dollar is 3/2.