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HONG KONG LEGISLATIVE COUNCIL.
At the moment I can think of no better use for what I trust will be a very large sum available on the completion of the scheme to which I refer.
I trust that my remarks to-day do not give the impression of undue complacency in regard to the position in Hong Kong to-day for I should strongly deprecate any such impression. While Government's financial position may be regarded as not unsatisfactory I am fully conscious of the fact that the state of the Colony's trade to-day is very alarming and I do not consider that my Honourable friend Mr. Mackie exaggerates when he says that it is worse than it was in the troubles of 1925.
One of the leading Chinese recently remarked to me that from personal knowledge he considers it worse than it has been for the past fifty years.
Unfortunately this is mainly due to the world's economic position and there is little that Government can do to ameliorate the local position except to avoid any increase in taxation; and this I hope to do.
Advices from home indicate that there are signs of the clouds lifting; and I believe that even our near neighbour, Malaya, who has been a great sufferer, is striking a note of greater optimism. That such an improvement will prove real and that this Colony will participate early therein is the earnest hope of us all. (Applause).
The motion for the second reading was put and agreed to.
The Bill was read a second time.
Council went into Committee to consider the Bill clause by clause.
Upon Council resuming,
THE COLONIAL SECRETARY reported that the Bill had passed through Committee without amendment and moved the third reading.
THE COLONIAL TREASURER seconded and the Bill was read a third time and passed.
MOTIONS.
H.E. THE GOVERNOR.—If Council has no objections, the Colonial Secretary will move the following motions standing in his name en bloc.
THE COLONIAL SECRETARY.-The six Resolutions standing in my name are in connection with proposed expenditure in 1934 on approved loan works. Particulars as to what it is intended to
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