§ Mr. RAMSBOTHAMasked the Under-Secretary of State for the Colonies if his attention has been drawn to the fact that the fall in the price of silver is prejudicing the economic situation in certain parts of the British Empire; and whether he proposes to consider placing Hong Kong on a gold basis and rendering any temporary assistance to civil servants, who, being paid on a silver basis, are finding it difficult to carry on?
2410W
§ Mr. LUNNI have been asked to reply to this question. My Noble Friend has been watching events with some anxiety. The Governor of Hong Kong has appointed a local Commission to investigate and report upon the currency situation in Hong Kong, and the results of their work may be expected to furnish valuable material for the fullest consideration of the problem by the Secretary of State and his advisers. Public servants in Hong Kong are already in receipt of an exchange compensation allowance, which has recently been extended in consideration of the recent lower level of the dollar's value.