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language but also of the tradition and culture of the
Chinese without a knowledge of which their character is
to a stranger unintelligible.
As to the cost of the Chair it would be no use
offering less than £1000 a year, and the Finance Committee
of the University is now considering whether they should
not try to inaugurate a scale of pay for professors which
will go up to a maximum of £12,000 a year. However taking
the pay at £1,000 a year or ten thousand Hong Kong
dollars the annual sum of £240 or $2,400 must be added for
house allowance in lieu of accommodation.
There is also
the University's contribution to the Professor's Superannua-
tion Fund, and passages not only for himself, but possible
for his wife and children must not be forgotten. Speaking
roughly the new Chair would cost the University not less than
£1,500 a year. Reckoning the interest obtainable on capital
invested in Hong Kong in Trust Securities at 6 % this would
mean that each new Chair would involve an addition to the
University's capital of £25,000.
(Sgd.) W.W.Hornell.