CO129-514-4 Repayment of excess military contributions advanced by Hong Kong 9-1-1929 - 10-1-1930 — Page 5

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figures given. I attach a statement of the various

approximate rates used then and now, from which it

will be seen that the rates used in the original

calculations do not square very well with those in

the present computations. The differencesdoes not

They appear very much, but results in a very important

discrepancy in the ultimate results. I calculate

that if the rates originally used are the correct

ones the overpayments (in dollars) would be

$126,973 for 1917-18 and $ 587107 for 1918-19 giving

a total of $714,080.

There are two means by which we might clear

up the discrepencies in the calculations, that is,

by semi-official correspondence with the War Office,

or by leaving it to Hong Kong to argue the matter

out locally. I think the latter is very much to

be preferred as Ilong Kong are used to the se

exchange matters and we are not. I propose therefore

that we should inform the War Office that the

-

Secretary of State agrees in principle to the

repayments being made in dollars, but as he is not

a

in the position to check the calculations of the

actual amount, he proposes to defer agreement of

a final figure until the calculations have been

examined by the Hong Kong Government. In the

meanwhile Hong Kong will be instructed to abate

their monthly advances by the amount stated in the

War Office letter before the 31st of March;

and telegraph to Hong Kong accordingly;

anu follow up with a despatch sending a copy of

Me this letter in which, if it is thought desirable,

Low doubt. межив физ gest dicitor's

we might mention the apparent discrepancies in the

calculations as stated above.

( I don't thich

we

need

consult H.K.