CO129-443 - Governor Sir May - 1917 [7-9] — Page 485

:

!

A

12

CONFIDENTIAL.

20

HONGKONG.

IRES

C.O

52974

Red 27 JCT 17

GOVERNMENT HOUSE.

473

11th. September, 1917.

Savr

143736.

sir.

I have the honour to confirm my telegram of the 1st September in which I reported proposals made by the Unofficial Members of the Executive and Legislative Councils with regard to the rate of exchange at which the salaries of the Naval and Military Establishments in the Colony should be paid. I have already addressed you on this subject in To994, my despatches Nos. 252 and 281 of the 31st July and 30th

gov August.

for

37893 2.

Qw 40732

The effect of a rise in exchange upon the local purchasing power of a sterling salary is dealt with at length in my Confidential Despatch of the 22nd November, 1912, in which the question was discussed from the point of view of the Civil Service. The present rise in the value of the dollar is entirely unprecedented, as regards both its range and the rapidity with which it has taken place. It is beyond question that a most serious hardship has been thereby occasioned to the local Naval and Military establishments who are paid in sterling without exchange compensation.

I have the honour to be,

Sir.

Your most obedient,

humble servant,

Bomag

Governor, &c..

RIGHT HONOURABLE WALTER LONG, M. P.,

&c.. "

&a,

80..