881
189
Government assumes such a degree of responsibility as we recommend.
We are convinced that a general public miągiving
and want of confidence regarding the management of the
finances has hitherto withheld the support which would other-
wise have been forthcoming from both British and Chinese.
Sir John Jordan's optimistic reference, in his
recent speech here, to the possibility of part of the Boxer
indemnity being devoted to the University, prompte us to
suggest that the Hongkong Goverment should do anything in
its power to bring this about.
We have included in our estimate $30,000 a year
for interest at 6 per cent on the bank overdraft. We can only advise that, for the present, this overdraft be continued, the
rate of interest being low; and that as soon as the financiel
position allows, a sinking fund be established to pay it off.
Te have included provision for a fresh sinking
fund to repay Mr. Loke Yew's loan.
We have also included $6,000 a year for repairs to
University buildings, but we have not inserted anything for depreciation. Repairs to hostels are paid out of their
separate accounts, and are allowed for in their estimated profits.
6. SOME GENERAL OBSERVATIONS.
We recommend the formation of an Employment Committee for assisting graduates to get suitable appoint- mente. The committee we have in mind would comprise repre- sentatives of the principal employers, such as Messrs.Jardine Matheson & Co., Messre. Butterfield & Swire, the Dock Company, the Public Works Department, and a few others, in addition to the three Deans. We think such a body would be of special advantage to the Engineering graduates, and could also help
thone