HONG KONG LEGISLATIVE COUNCIL.
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already in hand, and the remainder are still under consideration -this is a record which certainly calls for appreciation and will probably be recorded in the history of this Colony as the most constructive Governorship within our memory.
When viewing the Estimates we must take a broad survey of the general situation-we find the world as a whole, in a state of financial and economic chaos-every country is embarrassed, some more than others, but wherever one looks one sees reconstruction and transition-what banker or business man in this Colony is prepared to say that returning prosperity is yet in sight-all trade figures are down-true the security which this Colony afford has attracted substantial sums of money but it largely lies dormant and unproductive-land sales are shrinking and will probably go lower in the coming year our revenue has increased by one-third in ten years but this has been accomplished by an all round increase to taxation and we desire no further burden in the immediate future-who under these circumstances will cavil at the Government's declared intention to keep a surplus balance of $10,000,000-any other policy would be contrary to the best interests of this Colony-a drop in the sterling value of our dollar of a few pence would place a very different complexion on the Estimates which we have before us to-day. It is only a matter of two or three years ago that we were facing a large deficit and tapping all possible sources of revenue to make our Budget balance-who can say what the future has in store for us in these difficult times?
I will not refer to our Water problem, the new Gaol, the new Government Civil Hospital, the Kowloon Hospital, the Central British School or the Vehicular Ferry, as they are being dealt with exhaustively by other honourable members except to say that they have my hearty support.
Before passing I should like to draw attention to the fact that the new Female Gaol has been completed, thus erasing a blot on our escutcheon. I am also of opinion that the new Central British School will not brook delay and that we badly need a Government Second-Queen's College.
Demands will probably be made for new and attractive roads but I hope our efforts will be directed to the early completion of the new North Point 75 foot road, that great arterial highway, and the putting into a proper state of repair of our existing roads in the Colony which have been neglected during the period of stress, just past.
It is satisfactory to feel that the mode of payment for our water is being put on a more satisfactory basis but the problem will not in my opinion be solved, until we get it on to a commercial basis.
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