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$/6/15.
P. W
Alonce
Mr. 5.
5.4.15-
No 65
N°
sir,
15937
Pra! 5 A15
492
1
GOVERNMENT HOUSE,
HONGKONG, 24th. February, 1915.
I have the honour to transmit the enclosed
copy of notes on the effect of the war on Chinese Trade and Commerce in the Colony.
2.
The loss of population since the outbreak of war has been due partly to nervousness on the part of the Chinese population at the beginning of hostilities. This nervousness has now disappeared and the cause of the diminished numbers of the population is undoubtedly the stagnation in trade and the con- -sequent inability of many to afford the comparatively expensive living in Hongkong.
3.
The contraction of the population has entailed
a slump in house property, but it must be borne in mind that house and land values were much inflated before the outbreak of war by the abnormal influx into the Colony of Chinese owing to the Revolution and subsequent unrest in China.
I have the honour to be, Sir,
Your most obedient, humble servant,
HE RIGHT HONOURABLE
LEWIS HARCOURT, M.P.
&c..
&c..
&c...
Governor,&c..
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