CO129-549-1 Remittance of funds between Hong Kong and London 12-2-1934 - 14-2-1935 — Page 48

5.

47

question. Any mean between opening buying and selling rates would only act against this Government. There

is no published opening buying rate in Hong Kong

but a figure is quoted to the Treasury Chest Officer

which is a business quotation.

Last sentence of paragraph 5 of the Treasury letter. These remittances are in sterling and a fixed commission is charged by such Banks. Hong Kong - London remittances mean a change of currency and exchange enters each transaction.

sd. EDWIN TAYLOR

Treasurer.

10. 9. 34.