NO CONFIDENTIAL (2).
3
REOLIVAN
GOVERNMENT HOUSE,
1 3 OCT 1930
OFFION
HONG KONG
9th September, 1930.
My Lord,
Į
!
2
With reference to my telegram of 21st of
August, 1930, regarding the payment of Hong Kong pensioners in India and Your Lordship's reply of the
27th of August, 1930, I have the honour to submit the
following explanation of the matter.
2. Payments made by the Government of India on
behalf of this Government in any half year are based on
the average demand rate of exchange on Hong Kong during
the previous half year calculated to the nearest quarter
rupee. Under this arrangement the rate which would be
fixed for the half year commencing 1st of October, 1930,
(not 1st of September as stated in my telegram) would
probably be in the neighbourhood of H.K.$100 Rs.88.
new
=
The new arrangement fixes a minimum rate of H.K.$100
Rs.112 annas 8. If however the average demand rate for
a half year rises above the minimum rate then the demand
rate will operate.
3.
The additional expenditure involved per annum
with exchange round about 1s/3d or 1s/4d per Hong Kong
dollar is estimated at $4,200.
기요!
I have the honour to be,
My Lord,
Your Lordship's most obedient,humble servant,
THE RIGHT HONOURABLE
LORD PASSFIELD,
&c.,
&c.,
&c.
Governor, &c.