CO129-420 - Governor Sir May - 1915 [1-2] — Page 186

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„DICI V

Sir,

Government House,

Enclosure 3

Hongkong, 4th January, 1915.

# 183

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Referring to our conversation of this morning on the

subject of the enclosed letter from the Postmaster General herewith

returned, I have the honour to inform Your Excellency that I have

directed the Postmaster General to continue until the end of this

week to accept silver dollars in exchange for Money Orders at the

bank note rate in the case of men and native officers of Indian

Regiments of the Garrison, with an individual limit of the equivalent

of one month's pay of each rank.

2.

I am obliged to impose this limit because the remit-

tances of last month prove that there has been much speculation in Money Orders remittances and that advantage has been taken of the rate of exchange for individuale to remit much larger surs in silver

then their pay or savings (which are obtained from the bank in notes)

can possibly represent.

3.

The exchange of money orders with India is a business -

transaction fixed by a formal agreement between the Fostal Author-

ities in each country. article 27 of which reads as follows:-

4.

"Boch office shall have authority to suspend temporarily "the exchange of money orders in case the course of "erchange or any other circumstances shall give rise to "abuses or cause detriment to the revenue",

I am willing to authorise the continuance of the sale of money orders paid for in silver dollars at the higher rate of

exchange to any units of the Garrison who may receive their pay in

silver dollars, for if silver dollars are drawn from the Honkong

and Shanghai Bank for the payment of troops the Bank will receive at }

par the silver dollare paid into the Post Office by these troops in

erchange for loney Orders.

Defy "mu{uppe'

شان لا الو.

His Excellency

I have, etc.

Sd.

F. H. MAY

Governor,&c.

Major-General F.H.Kelly, C.B.,

Commanding the Troops in China,

Hongkong.