CO129-541-5 Harbour Light dues- proposed amendments 11-8-1932 - 22-5-1933 — Page 11

conclusion that the most equitable method of

the

tes rin

attaining is object is the adoption of a

of dues

sliding scale, based upon the sterling value

of the dollar, and Table P of the Merchant

Shipping Ordinance, 1899 has been amended to

bring such a scale into effect as from

midnight on the 31st of March, 1933.

A copy

of a notification on the subject published

in the Hong Kong Govt. Gazette of the 10th of

March 1935, is enclosed.

The new rates have been fixed at a

figure, which when the exchange is at $1 =1/-

will bring in the same revenue as the dues

hitherto in force, with a progressive reduction

as the exchange rises.

the present time

[tomit]

the sterling value of the Mexican dollar is with rugblanton)

stands at 1/3 to 1/4 and the reduction in

taxation under the new scale amounts

20% to

3H.P. The Gor states that

the

he decrease in revenue

will be to some extent set off by savings

in respect of sterling commitments as the

dollar rises.

points

Ale