Foreign Office
Board
We would recommend that whenever it is thought proper by the Governor to dispose of any Lands, they should be exposed to Auction, and that they should not be parted with in perpetuity nor for a price to be at once paid down, but that the biddings should be for an amount of Rent per annum on Leases for such term of years as the Governor may fix, not exceeding 75 years.
We think that in the present uncertainty of the permanent value of Land at Hong Kong, it should be left to the discretion of the Governor to name from time to time such upset price on the respective lots as he may think suitable and expedient.
In the case of all Lands designated either as Marine, Form, or Urban Lots, we are inclined to think that it should in no case be competent to a party to acquire them except at Auction. And for this purpose the Governor should name the length of previous advertisement which will be requisite - it being a measure in which it will be very important to entail the least possible delay upon applicants, consistent with affording a fair opportunity for Competition.
As regards Country Lands, We should see no objection, if they have been once exposed to Auction.
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