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drawbacks. Already the inconvenience is felt of the inability to grant for long leases in the New Territories land leased by the Crown in Kowloon and the New Territories.
Moreover, the minds of the inhabitants, who are well aware that the existing leases are terminable ones (75-years renewable at a re-assessed rent), are discouraged as the base remains for a little period. As is in vogue for the old Territory, long leases are preferred.
As years go by, this inconvenience will be more and more acutely felt, the investment of Capital in the area referred to will be discouraged, and the development of the country will be seriously prejudiced.
These points have no doubt abundantly forced themselves on the attention of His Majesty's Government, but I venture to advert to them as political events may possibly in the not distant future afford an opportunity of putting our tenure of the Country on a...