CO129-407 - Public Offices & Others - 1913 — Page 111

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TREASURY MINUTA DAT¿Ð

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110

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13 AUG 15.

1913.

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1. My Lords road again Their kimute dated the 22nd

Kovember 1888 on the mode of issuing the dollar in the East

in order to secure the equivalmt of sterling in local

QUIT UN OY. ky Lards also read the neport of the Comittes

appointed by Their Limts dated the 27th February 1913 to

consider the arrangements in force under the above Kimute

and to report what changes, if any, should be made in these

arrangements.

2. The changes recommended by the Comittee are

summarised as follows :

(1) That the official rate of the dollar be fixed

monthly at the average over one month of the exchange rate for telegraphie transfers, rounded up or down, as the case my be, to the nearest farthing;

(2) that Landers be invited for the supply of

dellars in exchange either for telegraphic transfers or bills at 10 days' or three months' night, with a view to

raising the money required in the manner most advantageous to the zobequer;

(3) that experimentally bills be offered for

maller mapunts at shorter intervals than has hærstefore

bean customry, and that the amounts offered før tender

should be stated in the advertisement;

(4) that local currency be obtained so far as possible at other points than Hong Kong by the

of billi

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