38
more to ten
majesty's
secretary of
State and to forward to His Lordship
with
recommendations of
any remarks he
may
make
after his
recent visit to St. Joseph's, I think it
fit to add a copy of this letter
(3) I would, in the first place, ask leave to call special attention
to the cost and present value of
St. Joseph's College and to the
origin of the funds expended in its erection. The land and building cost the Mission $82,800. This represents the savings of nearly thirty years, money taken from the general funds of the
mission, a little at a time, for
educational purposes. Towards
this fund
I find the
Government of the Colony has not contributed one
cent, and the residents in the
Colony very little, the bulk of
the funds coming in the shape of charitable contributions
from other countries. St. Joseph's
College is therefore the undisputed property of the Roman Catholic
Mission, and we are free to main-
tain it as it is, or convert it to
other purposes, or sell it whenever
we please. It cost $82,800. It is
worth today $149,000. In a few
years, so rapid is the increase
in the value
of land in Hongkong,