( M
C. S. O.
M.F. 237.
:)
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approbation. The site was only chosen after careful consideration. The suggestion that on the com- pletion of the new house a Gover- nor's Visitors' Book should be kept at the Colonial Secretary's office. appears sound. I fear that I shall not be here myself, but I feel sure that my successor will be ready to adopt the proposal,
new
I have already been approached in regard to the proposed road on the north side of the Cathedral, and have recorded my view that, unless there are cogent reasons to the contrary, this por- tion should not be open to motor traffic.
It is the present intention of Government to find room in the new City Hall for the library re- moved from the old building.
I am of opinion that it is most desirable that, if the Secretary of State sees no objection, we should treat this scheme as a whole as a matter separate from the ordinary estimates. It entails, on the one side, the sale of land after site preparation, and on the other, the levelling of land and the construc- tion of a new Government House, a new City Hall and various other buildings for Government poses.
Slum Clearance.
pur-
So far as can be seen at pre- sent, the scheme should result in a very large profit, but until it is further advanced it would, in my opinion, be entirely wrong to use any money which we may have received under the scheme for any other purpose.
It may happen that the Colony will have to wait for several years for the benefit of such profits as may accrue, and at present such profit is merely an estimate.
for
Should it approach the estimat- ed figure, Government will have a very large amount at its disposal and, if I may indulge in a vision looking ahead to a time a year or two after I shall have left the Colony, I hope to see the greater part of that profit utilized slum improvement in Hongkong. As to its need there can be doubt, but it is a difficult problem of which, having regard to the financial side, I have not been able to find a solution. The increased number of buildings which have been erected in various parts of
no
the Colony must, I think, have re- lieved to some extent the conges- tion in the most crowded parts. this is not an entire solution of the problem.
When more buildings are erect- ed and funds become available it may be possible to break up some of the congested areas and open] up new streets and open spaces.
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.
Trade Anxiety.
I trust that my 'remarks to-day do not give the impression of undue complacency in regard to the position in Hongkong to-day for I should strongly deprecate any such impression. While Gov. ernment'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 re- cently 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 strik- ing 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. (Ap- plause).
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