dispose of that which it might not be in our power to give; the danger of encouraging Hong Kong to think that we were going to keep the New Territories for ever, when we were under an obligation to return them an obligation which the Chinese would probably invoke and which the League of Nations if called on
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to intervene would undoubtedly support; the danger of arousing propaganda among the Chinese, not only in the South but throughout China, if Sir Cecil Clementi's proposals were acted on; the danger of giving the lessees a claim against His Majesty's Government, if it were found impossible to secure them in the rights stipulated in the new leases.
It was however generally recognised by the con- ference that it would be unfortunate if development around Hong Kong harbour were suspended owing to (perhaps exaggerated) apprehensions regarding security of tenure.
It was therefore suggested and agreed that a way out of the difficulty might be found (a) by issuing leases for short periods renewable either indefinitely or for a stated number of times at the lessee's option on application to the proper authorities; or (b) by issuing leases for 65 years, renewable at the lessee's option. Either of these methods would give the lessees title to their land running on into the period when the leased territories may have to be returned to China, but without providing such material for propaganda as Sir C. Clementi's original proposal, and without com- pelling us to prejudge the situation that may arise nearly seventy years hence.
It........