the contribution is worth where is the damage to the man? That ₤1 death becomes his sterling pension to his widow-calculated and payable in sterling. The Government is the only one who suffers, for it receives #9 and the person pays to the Fund on its $10. Whether
No.240. Hongkong. C O 38177 408
Government House, Hongkong, 28th September, 1907.
My Lord,
There is another matter. I see no reason why the Government should not contribute to the fund with a sterling contribution at the actual rate of exchange - Government already contributes 6% to the fund and pays to dollar widows in this country the difference between the current rate.
I don't think it need do nonsense, but it is proposed to base the proposal on an imaginary injustice to the officers. But the introduction of the sterling system, and now the recent modification of it, have unintentionally involved the Fund in such a way that the end must be its so bringing a definite basis for valuation.
Referring to Your Lordship's Despatch No.122 of 11th June, 1907, approving the payment of Sterling and Dollar Compensated Salaries at the rate of 2 shillings when the exchange value of the dollar exceeds that figure, subject to the consent of the Legislative Council which was conveyed in Mr. May's Despatch No.187 of 22nd July, I have the honour to inform Your Lordship that I have been advised that as the law now stands the effect of this decision on the payment of contributions to the Widows and Orphans' Pension Fund by Officers whose salaries are on a Sterling basis is to fix exchange for such payment at 2 shillings when the exchange value of the dollar exceeds that figure; whereas the pensions payable in respect of the contributions of these Officers are chargeable to the Fund at the rate of exchange current in the market at the time of payment.
2.
RIGHT HONOURABLE THE EARL OF ELGIN, K.G., &c. &c. &c.
I
the contribution is worth where is the
damage to the man? That ₤1
death becomes
his
sterling pension to
his widow-calculated and payable in I stering. The Goverment is
The Goverment is the only who suffers, for it ricevis #9 and
person
gwis the Fund ansit for $10. Whether
No.240.
Hongkong.
C O
38177
408
די
Government House,
Hongkong, 28th.September, 1907.
this
the hose to
way
intendos when
to pay
allowed salaries at 2/- to the
over at dollar when the Jollar was
LAR
My Lord,
is another
no
Mason
12198
matter. I see
enoit the fund
at the
why the God should not
with
a
sterling contribution
actual rate of exchange - Gost already contributes to 6% to the fund a pays to dollar widows in this country the Sifference
between the camat rate
don't think it need do
nonsens
mon
3/-,
-
*-
J
but it is
to base the proposal
imaginary injustice
to
om
Qu
the officers.
But the introduction of the sterling systeme now the recent modification of it have an invitentionally
aud
Fund in such
Oc
жибое
uvolors the
over exchange
a
See on 36041 Sefar
that the end must be its so bring.
valuation
Latern
One
by
for
a
has become practically impossible defuite basis
prition
Buy
bre
ey
A.). $7/11
Jagree fug 27" Cus 27/11
Oft for common, Meting
understand it !
alonu
P. 27/11
%
30012.
*
Referring to Your Lordship's
Despatch. No. 122 of 11th. June, 1907, approving the payment
of Sterling and Dollar Compensated Salaries at the rate of
2 shillings when the exchange value of the dollar exceeds
that figure, subject to the consent of the Legislative
Council which was conveyed in Mr. May's Despatch No. 187
of 22nd. July, I have the honour to inform Your Lordship
that I have been advised that as the law now stands the
effect of this decision on the payment of contributions to
the Widows and Orphans' Pension Fund by Officers whose
shlaries are on a Sterling basis is to fix exchange for
such payment at 2 shillings when the exchange value of
the dollar exceeds that figure; whereas the pensions pay-
-able in respect of the contributions of these Officers are
chargeable to the Fund at the rate of exchange current in
the market at the time of payment.
2.
RIGHT HONOURABLE
THE BARL OF ELGIN, K.G.,
&cc=
&C.
&C...
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