CO129-312 - Acting Governor Major Gen Sir Gascoigne Governor Sir Blake - 1902 [7-9] — Page 491

as

is now

the radiofcachange yearly, the monthly mistead

fixed

expression coment" the actual marke? rate at the time of the refund", in his dash, should be interpretin

As

meaning the rate

abwhich stacking satanis

are

bening

Jaid.

aid.

A. F.

29/10

I do not think we need alter

the L.F. or wirte agam to straits.

Reply that the words "at the

current rate of exchange.

are n

in desks of this kind, and

necessary they

are

inserted in the corresponding letter to the officer who receives the advance, in order to make it clear to him, that the

in

dvance, which is made in sterling, has to be repaid, not at the rate of exchange at wh. the offi. receives

salary

in this

his

country,

butatthe

market rate of exchange. Send hum

copy of 32050 Your

reply from wh. he will

observe that in the Straits Setts & FM, S

this is interpreted to mean

the market

rate at the time of the refund of the

лис.

advance, whereas Mr C. gathers from the present deap that the rate adopted is the

that market rate at the date

ergo

the advance

Observe that the straits rule appears to be

strictly speaking the more correct one

YB & L (x)-50564-3000-12-01

54040--3000-3-02

need not bel

sufficiently satisfactory,

altered, adding that the words at the current rate of exchange.

wide to caver

ave

sufficiently

both the Straits & the

Hongkong practice.

488

alme