526
each, that is, at the present exchange a sum of £5. 10 a
month or £66 a year. If let at their market value each of
these rooms would probably bring in double that sun. In the
buildings I have advocated in Kowloon the Government would
obtain a return of about five per centum on the total cost
of land and buildings while charging a rent per flat far
below the amount demanded by the various Land and Building
Companies. The hotel would undoubtedly be a profitable concern and would meet the urgent need for decent living
accommodation by tourists and bachelors resident in the
Colony.
6.
I propose that the balance of the money should be devoted to education as to which I will address
you in a separate Despatch.
I have the honour to be,
My Lord,
Your Lordship's most obedient,
humble servant,
Ahustevom
Officer Administering the Government