CO129-558-8 Revision of salaries 19-8-1936 - 11-2-1937 — Page 2

ů So R

1.

ril

2.

Memo. Extracts from Minutes on 53652/35.

Mr. Gent.

2

This has been registered "Hong Kong" after

discussion with Mr. Jeffries and Mr.Cowell, as these

questions about general salary revision are normally

registered geographically.

You are dealing with the question of

expressing salaries in sterling or dollars.

(Signed) A. B. ACHESON.

31/1.

Note on the system of sterling salaries in Hong Kong.

I have attached this note and I think it

would be as well to have a decision on the question and

some reference to the point inserted into the draft

despatch if the latter can be recirculated for the purpose

-

and for further consideration generally.

(Signed) G. E. J. GENT.

1/2.

The advantages of expressing salaries in

local currency are most apparent when exchange rates are

fluctuating. At such times the payment of salaries in

local currency makes for stability; the exchange problems

are confined to the narrowest possible field (remittances

abroad, salaries on leave and pensions); the salary

system as a whole, the Government's salary bill, and the

individual officer's income, though not of course entirely

unaffected