365
receives money from the United Kingdom, and for which purposes the machinery of the Host Office affords every facility. For the present, we do not think it would be advisable - even if we considered it necessary, which we do not - to apply this money order system to any other places than Hongkong, Shanghai, Yokohama and ...
26.
As the rates of exchange at each of these places fluctuates, it will be necessary to lay down severe rules to confine the operations of the proposed Money Order system within their legitimate limits, and also to guard the revenue against loss; and, after giving this question full consideration, we came to the conclusion that, however desirable it might be to adopt a fixed rate of exchange at which orders would be issued and paid, such an arrangement would be open to serious objections.
We therefore recommend the following plan:
That Orders shall be issued at Hongkong, Shanghai, and Yokohama at a rate of exchange to be fixed for each mail - such rate of exchange being the current rate, and that orders shall be paid at the same places at one penny ...
7
365
receives un
money from the United Kingdom,
ater swall
changer,
and for which purposes the machinery of the Host Office affords every facility. For the present,
we do not
think it would be advisable-even
Considered
it
necessary,
if
lve
which we do not,
to apply this money ordon system to Anyothies places thaw Hoengstrong, Shanglane,
Yokohama
and
26.
As the rates of exchange at
each of these places fluctuates, it will be necesary to long dowers severe scheme to confine the operations of the proposed Money orden
legitimate
system
within their
limită, and
and also to
guars
the
the revenue
giving
ttie
against loss; and, after
this question full considerations, we
Came to the conclusion that, however
desirable it might be to adopt; as fired,
rate
at which orders would be
of exchange at which
arrangement
and we
issued and paid, such an would be open to serious objections
recommend, this following plow,
Mierefore
bizt
That Orders shall be issued at Houghing Shaughan, and Gotohama ats wrate of exchange to be fixed, for each -- mail - such rate of exchange being the
current rente, and that orders shall be
named at one
paid at the Saree places
penny
7
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