46
4
WIDOWS' AND ORPHANS' PENSIONS.
7. A deduction of 4 per cent. is made from the salaries of all members of the permanent Government Service as a contribution towards the provision of pensions for the widows and orphans of Government officers.
CURRENCY.
8. The currency of Hong Kong is based on the silver dollar. For purposes of local payment salaries fixed in sterling are con- verted into dollars at a rate fixed by the Government. The rate is at present 2.= $1, but is liable to alteration.
A strictly temporary allowance is also granted at present, based on the average exchange value of the dollar with sterling. This allowance is on the following scale:
When exchange is-
At or over 4s. 4d.
Allowance per cent. on salary is
0
"J
"}
4s. 3s. 8d.
and below 4s. 4d.
3
4s.
6
""
3s. 4d.
3s. 8d.
9
""
"J
3s.
3s. 4d.
12
"
2s. 8d.
3s.
15
Over 2s. 6d.
2s. 8d.
18
At or below 2s. 6d.
20
COLONIAL OFFICE,
April, 1927.