450
15.
The arguments in the despatch of Sir R.E.Stubbs, to which you refer, apply to the development of the Air Force equally with other branches of the
Colony's defence: and I hold out no hope whatever of
voluntary assistance from private firms in support
of further expenditure for the Garrison or the Air
Force. The suggestion that British concessions
in China should contribute to expenditure incurred in
Hongkong, on the ground that the Garrison is utilised
wherever protection is called for, is put forward
very tentatively: and I agree with Sir R.E.Stubbs in
his view that it is at present no more than a line
of thought which it may be worth while to pursue
further. It is, however, a matter which would
naturally be investigated by the Foreign Office through
H.B.M.Minister at Peking, and this Government can
hardly at this stage venture to reduce the general
suggestion to any more definite form.
16.
The plan (enclosure No.2) supplies the
detail required to complete this despatch: and it will
be seen that the expenditure I suggest involves
an estimated total of $1,738,000. Of this sum
$738,000 is the estimated cost of completing the
entire
reclamation ( a work which would be undertaken
by the Government at its own choice of time) and
se $1,000,000 it is estimated would be sufficient
to buy out the Kai Tak Company.
I have, therefore, the honour to
17.
request authority to negotiate with the Kai Tak Company for the purchase of their rights over the 170 acres which appear on the plan coloured buff at the estimated cost of $1,000,000.: and to finance this
operation by the issue in due course of Treasury Bonds.
18