the Governor
states that Lieut William.
will be instructed to commence at once to carry
the proposed
scheme
into operation.
I see no reason to object to
M. Cleverly's proposed arrangements,
assuming
that the British Govern-
ment is legally and equitably
Page 164
in the Lease to be
given now, the
expedient to give
the price
at which the
Government should be entitled at
any future time to buy the Land. I
doubt the Land will acquire great
additional value from the operations
of the Government and from
the encouragement it will give
to the
Settlement, and to this additional
value the Lessee,
may be considered
entitled to dispose of
the Land at
Kowloon as they think best. As for
the value the Lessee
will
that
:
the present papers give
no
information,
nor have I any other
means of forming
an
opinion. I
agree, however, with the Governor-
that it would not be just
if not admitted. Such it must be
that it will also acquire
value
from
his labor & expenditure-
It will be scarcely possible to
apportion the increased value
between these four causes --
yet it