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fidentially with figures showing that many of the large
industrial concerns and business houses, apart from paying
sterling salaries at a fixed rate of exchange, have made
definite cuts in pay. In addition overhead charges have been
decreased by reduction of staffs.
In all these circumstances, the community feels that
its proposal that official salaries should be paid at the
current rate but reduced by 10 per cent. ought to have been
accepted by the Government, and it has asked my Committee to
represent that view to the Secretary of State. In doing so I
am instructed to express the agreement of my Committee with the
Hongkong Chamber of Commerce and the Hongkong branch of the
China Association, and to express the hope that the decision tỏ
pay salaries at current rates, without any reduction of their
sterling amounts, will be reconsidered.
I have the honour to be,
Sir,
Your obedient Servant,
Elle. Gall.
Secretary