CO129-345 - Public Offices & Foreign Office - 1907 — Page 783

really

discover any satisfactory solution. of this difficulty of varying exchange. We got over it

im

the Straits brcause

we had just before the valuation - fixed

the $ at 2/4.

As the pensions

18728

ob Sk

so in respect of sterling abacations contributions

are

calculated in sterling (54 04/1/2/2

3(9) (2) of disallowed orgle).

(except in

of

To pais

the case of sterling pensioners

burring in Asia, who must be few) tok

could

Weyoung value the Sollar contributions

habilities

the sterling

contributions liabilities separately

A

Wally

Sollaredary

i)

M2 Johnson

я желать

the following noults

Due by Sof

Asseb

Present value of

frechist contrts of

Existing dollar

members

#

#5

Present valme

है

future contrebu

of exrothing sterling

&a

mentin

the states

Алавающий

を

which the fund would be just

at which

solvent. If the Sollars fell the blow

that figure the fund would be insolvent- if itrose abour it, the fund would show

surplus. From this

~

least

we could

at

gridge the position of the Fund

Tee Mr Young's notes

9th & 10th how

Following

D.

an an

4.1.26

727

2711

to me of the

my reply 57 26th Nov,

intervicios which he

had with hr Harding myself. had not thought of the exchange

difficulties

These seem to

|valuation

think

when

me

I

I minuted 26442.

to make any

so speculative

we ought to insist

adapting reverting

that I

TY

H4 Rong

to its original

acceptance of our proposal that the

But

taken

•That case

stite in a have

K

Q

over by the Gourant.

valuation

# date of the taking

Fund

•hange

This tribuite

if any Funds

20

ад pearh

}

Laver

as

were

to

on the

over

as on

of the

basis of the rate of

at that date

J

and

surplus thus shown,

the

was done

taken over

when the other

by the Gount.

treat the It Kong Officers an

practicable inr

the Jame way

as the Straits Officers,

My proposal is

seems

because

not so

llogical

in the Cave

а

10

Fund sho. be

that he could obtam

Liablike

Prevent value of Existing Follar

ремонтно frudents sollar pens-cons of existing members

Present value of Existing sterling pensions futur sterling pensions

of Existing members

Then surplus =#{x+y=3} - {{b-a}

which would give the value of

$3

TH

the dollar