We are given to understand that one reason, if not the chief one, why the concessionaires have hitherto failed to develop this important concession received from the Chinese Government upwards of five years ago, has been the difficulty in inducing home investors to place their money in what (owing to engineering and other difficulties) is presumably looked upon as a somewhat doubtful undertaking.
That the line if so constructed as to pass through the old established trading centres of the district will prove from the first to be remunerative here on the spot firmly believe, but it is quite conceivable that a contrary opinion prevails among the investing public in England. We therefore venture to urge that in order to prevent further loss of time the necessary authority be obtained for the Hong Kong Government to guarantee for a term of years the interest on the capital required to construct that portion of the line which will be inside British Territory, the estimated cost being half a million sterling.
Failing the raising of the necessary capital by any other means, we would suggest that the line should be constructed by the local Government, as is not infrequently done in other Colonies where railways are found necessary for the development of those Territories.
With regard to that portion of the line extending from the British frontier to Canton, this being outside the jurisdiction of the Colony, it is presumably impossible for the Hong Kong Government to take action, we are therefore of opinion that in view of the urgency which exists for ensuring that the ocean terminus at the southern end of the trunk line which traverses the entire length of the Great Empire of China be situated in the Colony of Hong Kong, that H.M. Government be approached with a view to granting a guarantee, also for a term of years, to the investors in this line.
Here again we believe that it will be proved, once the line is in full working order, that a dividend bearing basis will be promptly arrived at. With such facilities as above suggested, there should be no further delay or hesitation on the part of the existing Concessionaires to proceed at once to the completion of their arrangements and the commencement of the construction.