CO129-293 - Governor Sir Blake - 1899 [8-9] — Page 52

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed

on both sides of the account remains the same, in our accounts as kept in currency we have $15,384.62 more on the receipt side than on the payment side.

5. Supposing that the Crown Agents were going to remit the £20,000 to Hong Kong, the $15,384.62 would be a true profit on exchange to us, but as the £20,000 will eventually be spent in sterling by the Crown Agents there is no profit.

6. The method of adjustment adopted as laid down in paragraph 3 of this letter is very clumsy, and the alternative would be to carry to account the difference in exchange as a profit, which, as no profit has been made, is wrong.

7. It appears to me however that if at any future time the Crown Agents were to lend on short loans any money of ours they might have in hand, the difficulty could be got over by no entry of the loans being made in their cash account with us.

8. The suggestion I have made in paragraph 7 would materially simplify the accounts as kept in currency and would not, as far as I can see, complicate the accounts to be kept by the Crown Agents.

9. As I look at the matter the Crown Agents hold a certain

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50 on both sides of the account remains the same, in our accounts as kept in currency we have $15,384.62 more on the receipt side than on the payment side. 5. Supposing that the Crown Agents were going to remit the £20,000 to Hong Kong, the $15,384.62 would be a true profit on exchange to us, but as the £20,000 will eventually be spent in sterling by the Crown Agents there is no profit. 6. The method of adjustment adopted as laid down in paragraph 3 of this letter is very clumsy, and the alternative would be to carry to account the difference in exchange as a profit, which, as no profit has been made, is wrong. 7. It appears to me however that if at any future time the Crown Agents were to lend on short loans any money of ours they might have in hand, the difficulty could be got over by no entry of the loans being made in their cash account with us. 8. The suggestion I have made in paragraph 7 would materially simplify the accounts as kept in currency and would not, as far as I can see, complicate the accounts to be kept by the Crown Agents. 9. As I look at the matter the Crown Agents hold a certain

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: .). 50 on both sides of the account remains the same, in our accounts as kept in currency we have $15,384.62 more on the receipt side than on the payment side. 5. Supposing that the Crown Agents were going to remit the £20,000 to HongKong, the $15,384.62 would be à true profit on exchange to us, but as the £20,000 will eventually be spent in sterling by the Crown Agents there is no profit. 6.The method of adjustment adopted as laid down in paragraph 3 of this letter is very clumsy, and the alternative would be to carry to account the difference in exchange as a profit, which, as no profit has been made, is wrong. 7. It appears to me however that if at any future time the Crown Agents were to lend on short loans any money or ours they might have in hand, the difficulty could be got over by no entry of the loans being made in their cash account with us. 8. The suggestion I have made in paragraph 7 would materially simplify the accounts as kept in currency and would not, as far as I can see, complicate the accounts to be kept by the Crown Agents. 9. As I look at the matter the Crown Agents hold a certain

2026-05-31 06:15:37 · Baseline

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.).

on both sides of the account remains the same, in our accounts

as kept in currency we have $15,384.62 more on the receipt side

than on the payment side.

5. Supposing that the Crown Agents were going to

remit the £20,000 to HongKong, the $15,384.62 would be à true

profit on exchange to us, but as the £20,000 will eventually

be spent in sterling by the Crown Agents there is no profit.

6.The method of adjustment adopted as laid down in

paragraph 3 of this letter is very clumsy, and the alternative

would be to carry to account the difference in exchange as a

profit, which, as no profit has been made, is wrong.

7. It appears to me however that if at any future

time the Crown Agents were to lend on short loans any money or

ours they might have in hand, the difficulty could be got over

by no entry of the loans being made in their cash account with

us.

8. The suggestion I have made in paragraph 7 would

materially simplify the accounts as kept in currency and would

not, as far as I can see, complicate the accounts to be kept

by the Crown Agents.

9. As I look at the matter the Crown Agents hold a

certain

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