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HONGKONG LEGISLATIVE COUNCIL
increase in salaries has ranged between 20 and 30 per cent. in the great majority of cases, and the total additional cost is in the neighbourhood of $1,000,000. It has been the aim of the Government to abolish as far as possible all allowances and speci- al payments and to make an officer's salary cover the whole of the duties which he may be called upon to perform. In addition to increases of salary important concessions have been granted as regards passages, housing, leave and acting pay, and ex- change. Exchange is the principal difficul- ty with which the Government has to con- tend in fixing an adequate rate of re- muneration, a d that difficulty has been accentuated by the violent fluctuations in the dollar during recent years. If the dollar were to return to the pre-war level the whole situation would doubtless have
any far-reaching schemes of new taxation at the present time. Slight readjustments, which this lightly taxed community can easily bear, will, I believe, provide all that we require for the moment.
It is unfortunately the case that China is still crippled by internal dissension, and. the acute situation which has recently arisen close to our borders is reflected in the stagnation of trade which is depressing the Colony's markets.
I may express the hope that a satisfactory settlement will speedily be reached and that our neighbours is Canton will then enter upon the era of prosperity which is bound to come as soon as the country is at peace.
Appreciated Assistance
Before I sit down, I should like to take again to be reviewed, but in the meantime this opportunity of expressing my ap- equipoise has been to a certain extent preciation of the assistance which the established by the introduction of a sliding Kowloon Kesidents' Association has afford- scale, whereunder, as the dollar ranges be-ed me in connection with various matters tween 4s. 8d. and 2s. 6d. sterling salaries are conaerted at rates ranging between $10 and $12 to the pound starling.
Financial Position Satisfactory
and Prospects Bright
In conclusion I may say that I regard the Colony's present financial position as satisfactory and I consider that the pro- spects for the future are bright. difference of about two million dollars be
The
tween the estimated revenue and the esti mated expenditure need cause no anxiety. It is fully accounted for by the large pro- gramme of public works many of which are proper charges on the accrued balances of the past which, as I said last year, I con- sider cannot be utilised to better purpose than in furthering the development of the Colony. In the future, expenditure will no doubt continue to grow, and we have foreshadowed large schemes of development, such as that in connection with the har- bour, which will cost large sums of money; but the past history of Hongkong gives good ground for confidence that this wealthy community will find little difficulty in shouldering its future burdens. As I have already said, I feel that it is neces- sary to take steps to raise from other sources some part of the revenue which we are losing owing to diminished opium receipts, but I do not consider that the circumstances are Buch as to necesitate
affecting the interests of that district of the Colony. When I first arrived in Hong kong I said that I had been accustomed in my former Colony to ask for and to receive the assistance of all sections of the community in matters of public interest and that I hoped to follow the same prac- tice here. The Kowloon Residents' Asso- ciation have taken me at my word and we have consulted each other on a number of occasions with results which have, I hope, been satisfactory to both parties.-(Ap plause.)
The Bill was then read a first time.