6.
of 32 mort egner of arseqqs ji evit to Juo eeuis ni
.208 od v♪ mort owi gaiatower ent ni bus kas
erij notiroqorg jedw ees of oals gaijaeretni at JI
eida al ynoloɔ a dolds Javons aid of road segrado yıISJILIM
.(aegraño Jmerquoos nad redto),exnov olidut no basqa of
pratilik edit to bridit eno Juoda aɛɛ turous edt eerdt ni
eno juoda owd at bus tan duuda eno at bra ewtibneqxa
mi nevig ers grofgnoß 101 Bergfî galbaoqaeT70) .Kjuevea
ollduq yot eldalieva davoma add daft weɗa yerit bra & eidsT
bejelqmoo a jasi edi roi (ab evresef of besaaq 10)
adrow
¥18JİLİM 10t blaq Jawomb end of Laupe juoda need sed sisot
30 Jadt etaotbat of reeqqs binow alɗft .erutibaeqxa
no erujibneqze Istiqao toi mtgram regral'doum yrev a aeroes
-bitud,B10W-19Jav,ayswiist,abaor me dowe adrow oflduq
+
20s adj jadi ins evide@MUMET 818 dołdy to pram ..ode (ayat
seort dilw bedeendnoɔ as sidawoval al someleb rol bisq
.sonetab awo niedt abivong dolde etnoloo
supobe ent not berluper afnow evianeteb bne soro eNT
al bas adreqxe yɗ baxti need død gnoignoll to noijosjonq
new dove jant ge ynoïol edð ensuite of ejaupeba vllaudorę
brusug of bergiael ore agoneteb bris aeotot bal ae afatı
.jantags
4 of eзsnattroqorq yiisveu at eonswant to J800 edT
Heldw of aeinolod erit mi
beweat ydreqonq add to oular
long gobant to jaoo arts Nyword (ehem feed and dotaulla
Howd brus eunevad Istoð ærld to *02 of 80 mont seinav yidad
90
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135
thirds to six-sevenths of the available margin, the value
of the material property at stake is comparatively small
and great areas of territory in case of war might be temporarily abandoned without much material loss, either
to the Government or to private individuals.
In Hongkong, on the other hand, the value of the
material property which it is desired to insure against war
risks is enormous. The Colonial Assessor of Rates estimates
that the capital value of property belonging to the Colonial
and Imperial Governments is not less than 25 millione
sterling and that private property is not less than 25
millions, making a total of 50 millions in all.
*
The Chinese pay the bulk of the taxes but it will not
be denied that of the material property here a large pro-
portion belongs to European in one case probably falling
not far short of 3 millions sterling. Yet it is from the
European community alone that the complaint of an unduly
heavy Contributions has arisen. If the figures assessed be
approximately correct the Insurance against war risks which
the Colony pays amounts to no more than of 1% of the
capital value of the property insured.
the Navy we contri-
To our first line of defence
bute nothing, except the proportionate share of the defence
of the Docks. Residence in Hongkong has proved profitable
to many and considerable fortunes have been acquired both
by Europeans and Chinese. It cannot therefore be considered
unjust
The term "Margin" in this Memorandum is used to in- dicate the balance available to meet the coat of defence and of Public Works when Ordinary Expenditure exclusive of these items has been deducted from Ordinary Revenue. It will be more fully explained further on.