56
THE HONGKONG WEEKLY PRESS AND an important crisis in Japanese financial | my hon, friend, the Colonial Becretary, has affairs, and it is obvious that unless some made. This is always a pro forms vote, and we material change in the financial policy were especially anxious to get this circulated of the country is shortly announced,-unless in time, in order to give the committee the in short the indictment of the Chambers vote, more expecially as the number of sittings fullest possible opportunity of considering this of Commerce can be met by positive proof of the Council is rapidly drawing to a close that Japan is devoting her energies to the this session. Therefore we had it laid on the improvement of her internal resources, table to-day in order to give the Council a rather than on sinister military develop longer opportunity of considering it. Any ments, the panicky feeling which is growing objections, or any requests for information
which any in the country itself is bound to be in-
hon, member will desire, may be made in committee. creasingly reflected in the money markets
The motion was agreed to. abroad. We can hardly doubt that the gravity of the situation is fully appreciated by the new Ministry, and that even though it may not venture upon a direct versal of the policy which has evoked so much resentment, some scheme of readjust meat may be possible which will serve to restore and strengtheu public confidence.
re-
HONGKONG LEGISLATIVE
COUNCIL.
A meeting of the Hongkong Legislative Council was held yesterday in the Council Chamber.
PRESENT:-
His EXCELLENCY THE GOVERNOR, SIR FREDERICK JOHN DEALTRY LUGARD. KC.M.G., C.B., D.S.O.
Hon. Mr. F. H. MAY, .M.G.. (Colonial Secretary).
Hon. r. L A. M. JOHNSTON (Colonial Treasurer),
Hon. Mr. E. A. IRVING (Registrar- General).
Hon. Commander BASIL R. H. TAYLOR, R.N., (Harbour Master).
Hoo. Sir H NRY S. BERKELEY, K.C. Hon. Dr. tio KAI, M.B., C, M., C.ML.G. Hon Mr H. E. POLLOCK, K.C. Hon. Mr. WEI YOK, C.M.G. Hon, Mr. MURRAY STEWART, Mr. C. CLEMENTI (Clerk of Councils).
MINUTES.
The minutes of the previous mee ing were read, and confirmed.
FINANCIAL MINUIES.
The COLONIAL SECRETARY, by command of His Excellency the Governor, laid on the table Financial Minutes (Nos. 33 to 40 and moved that they be referred to the Finance Committee.
The COLONIAL TREASURER seconded.
THE FLOOD DONATION.
H
[July 25, 1908.
Fand and, if so, will the Government inform the members of this Counell how many mb- scribere are for, and how many against, that proposal?
THE EVIDENOR CRDINANCE. The COLONIAL, BEORTARY, in the absence of
the Attorney General, moved the first reading of a Bill entitled an Ordinanca to amend the Evidence (Colonial Statutes) Ordinancs, 1908.
The COLONIAL TREASURES seconded, and the Bill was read a first time.
The
WIDOWS' AND ORPHANS' PENSION FUND, The COLONIAL SECRETARY moved the second reading of the Bill entitled An Ordinance to provide for the Transfer to the Goverùment of H18 EXCELLENCY- Gentlemen, a few days Hongkong of the Widows and Orphans' Pen- ag this Council voted a sum of $30,000 for the sion Fund and of the Management and Control of the Pensiods of Widows and relief of distress in South China. That sum was duly forwarded through the Consul General | Orphans and to consolidate the laws in to the Governor-General of the Two Kwong relation thereto. In doing so he said:
correspondence that has been laid Provinces, and I have just received his acknow- The ledgment, that is to say, the acknowledgment of
on the table shows the reasons for the pro- the Consul General, to the despatch which was
posals of Government embodied in this Ordin- sent. I will read what he say-:-With reference ance, which is in effect that in return for to my despatch No. 104 of the 15th instant I
the contributions of contributors to the Widows' hive now the honour to enclose copy of a des and Orphans' Fund, consisting in a 4 per cent patch which I have received from the Viceroy deduction from their salaries, the Government in which His Excellency requests me to convey
should take over the Fand and guarantee the to Your Excellency his deep suse of gratitu fe payment of the pensions thereunder which are for the munificent donation voted by the Hong. Calelulated on the basis of 6 per cent compound kong Legislative Council at Your Excellency's interest upon the monies in the Fand. instanci, from the revenue of the Colony as a object for which the Widows' and Orphans' contribution towards the relief of the sufferers Peusion Fund WAS instituted in 1891 was from the recent disastrous floods in Kwangtung to obliga officers of this Government to make and Kwangsi. The cheque has, His Excellency provision for their widows and orphans, since adds, been handed to the Prefect of Canton for the pensions which officers earn under the rules transmission to the charitable Guilds to whom of the Colonial Service are payable to officers te distribution of organiz-d' relief has been only and at to their widows and children, entrusted.I have the honour to be your obedieut The necessity for such a fuad was demonstrated servaut, HARRY H. Fox, Acting Consul
in this Colony in the years prior to 1891, waeu sieneral."
applications to Government and, indeed, to the Public of this Colony for charitaule relief of the widows an i orphans of deosased offioers were of very frequent occurrence. Offioses who joined the service prior to the insutauon of the Officers tund had the option of joining it. who joined after 1891 were obliged to join as a condition precedent to their appointment, Now it will be asked why does the Government wish to take over the fand? The answer is that the objsot of the Government is pri marily benevolent, It is very desirable that the solvency of the fund should be assured. Now, under the existing Ordinance, Government is bound to pay 6
per cent. compound interest on the monies belonging to the fund. As long as there is a surplus of assets over liabilities such Bat contribution by Government is sufficient. if, as might happen at some future time, there were would increase since the Government contribution of interest would be calculated on a sum smaller than that needed to meet the future liabilities of the fand. The Government contribution would, in fact, be less than that needed to maintain the equilibrium between assests and liabilities. In the contingency of a defisit one of three things would have to the fund' would become happen. Either bankrupt, which would be a calamity for the many dependent on it or contributions would have be increased, or pensions would have to be reduced. Both these latter remedies would involve much dissatisfaction and are to be avoided if possible. Secondly, the Govern-
This enclosure is in Chinese and I am not competent to read it, nor do I think the majority of members would be interested, if I Members will see that among the papers laid oa
th: table today is correspondenos rlating to the West River flods.
Wax.
FINANCI L.
The COLONIAL SECRETARY by command of His Exceli-ucy the Governor,|lid on the table tue r-port of the Finance Committee (N.. 12), and moved its a loption.
The COLONIAL TREASURER 83condai, aud the motion was agreed to.
PAPAES.
The COLONIAL SECRETARY, by command of His Excellency the Governor laid on the table the following papers: - Correspondence rela ting to the West River Floods; R port of the Inspector of Schools for the year 1907; Repait on the health and sanitary condition of the Colony of Hongkong for the year 1907.
WIDOWS' AND ORPHANS PENSION FUND.
Hoa. Mr. POLL JCK-Your Excaliency, with regard to the motion which has just been made, I would draw your Excellency's attention to the fact that notice was sent out to us a few days ago referring to Financial minutes 33 to 35 Hon Mr. POLLOCK, pursuant to notice, only. Now, Bir, on coming up to this Council asked:-With reference to the statement in this afternoon we find Financial Minute No. 36 paragraph 5 of the Despatch of the Officer struck out, and Financial Minute No. 40 Administering the Government to the Seore- substituted; and we find many extra Financial tary of State; dated the 24th June, 1907, to the minutes, one minute involving a very large effect that "great majority of the contributors, amount indeed, namely $186,500 for the and all the directors, except the Chairman, were Mongkoktsui breakwater. I don't think, Sir, opposed to the transfer of the Fund", will the
vote of that
to should Government state whether any, and, if so, how magnitude be suddenly sprung upon the Councilmany, of the contributors, who were then at the last moment, a vote which is not opposed to the transfer of the fund, have included in any way in the notices which were given notice to the Government of any altera sent out. It is not included in the Financial tion of their views on the subject? minutes circulated to members with notices of the meeting, and 1 don't think, Sir, we ought to be asked to pass a vote on that minute this
that
8
afternoon.
The COLONIAL SECRETARY-Sir, the hon: member seems to be under a misapprehension, It was not intended to ask the Council, Sir, to vote the sum under that Financial Minute this afternoon. It was only proposed to refer to the Finance Committee, where 1 shall have much pleasure in giving the hon. membar and other hon. members every information on the subject. It is to be regretted, Sir, that the minute was not forwarded with the orders of the day. The object in having it put forward, Sir, was that the Council might have the earliest possible information of the liability the Government ́have incurred, and that a note for the funds
might be taken as soon as possible,
HIS EXCELLENCY-The hon. member will I, dare say, be satisfied with the explanation which
The COLONIAL SECRETARY replied:-There are 610 subscribers on the lists. All except pensioners and the Shanghai Post Office staff, officers in some outstations, and those on leave have been asked to express their views. Returns are in most cases complete. Four hundred and six have either expressed their approval or stated they had no objection to the transfer. Thirty-seven have objected. It is impossible to say how many of those now in favour opposed it before. It is probable that all have altered their views. Thus it will be seen that 167 have given no opinion. If they were all opposed there would still be a majority of 212 in favour of the Government's proposals.
Hon. Mr. MURRAY STEWART-Thelaaswer to that question seems to albo answer mide. Mr. Stewart's question was- Have the Government taken steps to ascertain the individual wishes of contributors to the Widows' and Orphans' Fund, with regard to the Government's proposal to take over that
ment
a debit instead of a credit balanos, the
by taking over the fund avoids the actual payment of interest on balances, should such exist. Thirdly, uniformity with the systems obtaining in the Civil Service of Ceylon and in the Civil Service of the affiliated colony of the Straits Settlements is attained. The advantages to the contributors to the fund are that they are assured of the solvency of the fund; of the permanency of their rate of con- tribution; and of the payment of pensions under the more favourable tables attached to this Bill-tables which the Secretary of State considers the Government guarantee of the fand justify. In addition, the fund is relieved of the heavy expense of periodical valuations by very highly paid actuaries, such valuations be- ing obviously necessary while the fund is not guaranteed. The following direct advantages are contained in this Bill and with the new pen- sion table constitute its principal difference from the Ordinance which it supersedes:-(s) Bachelors, who are dismissed the Service, or who die, have 50 per cent of their contributions