CO129-446 - Others & Individuals - 1917 — Page 333

LETTER. FROM TH SHORETERY, H.30 AUNG BEING, LA TO THE OLGERAL SECRETARY OF THE BATY LASTA,

DATED 6th BESTEUBER, 1917.

328

17

I beg to confirm my telegram of the 26th u1

as follow: -

HONGKONG BRANCH NAVY LEAGUE STRONGLY SUPPCI

ALFLICATION HAVAL AUD MILITARY SERVICES FOR

FROM UNBEARABLE HARDSEIE GAUSED BY HIGH RATE OF EXCH.BOX WHICH REDUCES LOCAL PAY SİLVER CURRENCY

BY OVER OBETHIRD,

PUBLISH THIS LOBLUN

NEWSPAPERS.

?TLE.

In case thie queetion of local currency ie not clear to

you I will endeavour to explain the position in this part and indeed in Chins generally.

The currency of Hongkong and of China may be said to be the silver or Xexioar dollar, the sterling equivalent of which fiustustee from day to day with the price of silver on the

London or bew Yor! markete. To illustrate this pleare pote

the following eummary of Bar Silver prices and sterlin, values

of dongkong Silver dollars:-

Year.

Sterling equivalent to dongkong dollur.

Higbeat. Lowest.

Bar Silver in London.

Highest. Lowest.

1880.

521

518

4/01

3/77

1890.

541

431

3/101

3/08

1900.

301

27.

2/11

1/111

1910.

261

23-3/16

1/101

1/8-9/16.

During the ar the price of Bar Silver has steadily increased until to-day it is 49 and the sterling equivalent

of the hongkong dollar is 3/2.