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1.
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Memo. Extracts from Minutes on 53652/35.
Mr. Gent.
2
This has been registered "Hong Kong" after
discussion with Mr. Jeffries and Mr.Cowell, as these
questions about general salary revision are normally
registered geographically.
You are dealing with the question of
expressing salaries in sterling or dollars.
(Signed) A. B. ACHESON.
31/1.
Note on the system of sterling salaries in Hong Kong.
I have attached this note and I think it
would be as well to have a decision on the question and
some reference to the point inserted into the draft
despatch if the latter can be recirculated for the purpose
-
and for further consideration generally.
(Signed) G. E. J. GENT.
1/2.
The advantages of expressing salaries in
local currency are most apparent when exchange rates are
fluctuating. At such times the payment of salaries in
local currency makes for stability; the exchange problems
are confined to the narrowest possible field (remittances
abroad, salaries on leave and pensions); the salary
system as a whole, the Government's salary bill, and the
individual officer's income, though not of course entirely
unaffected