CO129-449 - Governor Sir May & Acting Governor Claud Severn - 1918 [7-9] — Page 434

וי

N°

266.

CO

51044

430

Ara 20 OCT 18

GOVERNMENT HOUSE,

HONGKONG. 10th. September, 1918.

Sir,

I have the honour to refer for your

decision certain questions in connection with dollar pay- -ments which have arisen owing to the advance of the exchange rate of the dollar beyond 3 shillings.

2.

The matter was first brought forward by the Treasurer, who recorded his opinion that Widows and Orphans' pensions, which had previously been payable in England at the privileged rate of 3 shillings should be

paid at the rate of the day while the dollar remained above 3 shillings.

3.

reasons.

I was unable to agree, for the following Dollar officers have in the past received pre- -ferential treatment as regards their payments to the Widows and Orphans' fund, a matter which has always been regarded as an injustice by the sterling men. I may ex- -plain the position by a concrete example. With exchange at 2 shillings, a sterling officer on £600 a year formerly received in the Colony $6,000, of which he contributed $240 or 4% to the Widows and Orphans' fund. A dollar officer on $4,000, which at 3 shillings is the equivalent

I

ᅡ

THE RIGHT HONOURABLE

WALTER LONG, M. P.

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