($237)
C. S. 0.
M.F. 237.
21
104
Loan Works.
In connection with loan works, honourable members are aware that Government decided to take advan- tage of the favourable state of the money market to raise a loan to re- imburse the revenue account in res- pect of funds advanced for loan works and to make provision for further work. The flotation may be regarded as a great success, though I should like to have seen a larger number of individual subscribers. I take this opportunity of thanking my honourable friend, the Colonial Trea- surer, for the services rendered by him to Government in connection with the flotation of this loan.
I cannot usefully add anything in regard to the Government House and Provision City Development Scheme. has been made for proceeding with the first section of the work, but in view of the state of the property market in Hongkong to-day it is pos- sible that the scheme will take long- er to complete that was originally anticipated. I have, however, no doubt that, from a financial point of
view, it will be a success.
The Harbour.
the ap-
A considerable sum has been in- cluded for dredging in the harbour and for works connected therewith. This dredging will deepen proaches to several existing piers, thereby affording adequate facilities for deep draft vessels to go along- side. The question has been raised of how far the cost of dredging in the harbour should be borne by public funds. I may say at once that I accept the general principle that such dredging as may be neces- sary to afford adequate facilities for shipping in the harbour should be regarded as a liability to be met out of general revenue. I am not, how- ever, prepared to admit that if any company or individual chooses to construct either a pier or a wharf such company or individual has thereby the right to demand that dredging in order to enable deep draft vessels to approach such pier or wharf at any state of the tide should naturally be carried out en- tirely at public expense. Govern- ment, as the trustee of the public, before spending its money on such a purpose, must satisfy itself that such pier or wharf is necessary to afford adequate facilities for ship- ping, and that it is not superfluous to the facilities already existing. The construction of such works may possibly be to the advantage of the company or individual who carries it out, but it by no means follows that such work is necessary from a public point of view. At the same time Government is always ready to treat such development sympathe- tically, and it has, in fact, in addi- tion to carrying out a considerable amount of dredging entirely at public expense, undertaken to contribute a considerable sum to assist further work which it regards as to a large extent a work of supererogation.
Air Services.
As regards an Air Mail Service to and from this Colony I can as- sure honourable members that the question is regarded by this Govern- ment and by His Majesty's Govern- ment at Home as of the greatest importance. I regret, however, that I am not at present in a position to give you much information on the subject, beyond stating that the whole question has been and is receiving the most serious attention. culties are considerable, but I am in hopes that they will be overcome in the near future.
Diffi-
As the Hon. Colonial Secretary has told you, the omission from the Budget of a subsidy to Commercial
does
indicate not Aviation change in the policy of this Govern- ment. Should the hoped for develop- ment take place and a subsidy be
any
called for I shall have no hesita-
tion in submitting the matter to the
Finance Committee with a view to making special provision.
Military Contribution.
The senior Unofficial member has
เ
in
garded as spectacular: indeed these times a spectacular budget is more likely to be unpopular than otherwise.
In spite of the fall in revenue and an anticipated serious falling off in surplus balances Gov- ernment has endeavoured to provide for what it regards as the most es- thereby ensuring a sential services certain amount of employment. At the same time I realize with some some very sadness that there are urgent needs, especially in the direc- tion of health services, provision for which has unavoidably been postpon- ed. I submit, however, that apart not claim to be badly served in the from health needs the Colony can-
matter of amenities. Reading my newspaper
I recently could not but feel that if a transient visitor had read that in the front rank of the urgent needs of Hongkong were placed
old age pensions, a zoo and an aquarium he would jump to the conclusion that we are a fortunate Colony. I realize, of course, that the provision of the two latter items might add to the attractions of Hongkong which my honourable friend, Mr. Mackie, quite. rightly wishes to see developed,
The Trade Position.
made the statement that the Mili- tary Garrison of this Colony is paid for out of the Military Contribution made to the Home Government. I think this is scarcely correct, for the cost of the Garrison is markedly
It cannot be denied, however, that higher than the contribution made by in spite of the fact that the posi the Colony. I am informed that no
tion of the Colony's finances is not cuts in the actual rates of pay of altogether unsatisfactory, having re- the Garrison have been made since gard to the general economic position 1931, but a cut of the Colonial al-
in the world, the present trade posi- lowance was made last May, which tion in this Colony is most serious was, however, almost entirely restor--in many ways perhaps more seri- ed in July. In any event, the amount
ous than it has ever been. That involved would go a very short way there is a considerable amount of to bridging the difference between money in the Colony is true, but the the cost of the Garrison and our trouble is that it is not earning contribution. There has been con- money, and the Colony cannot live siderable correspondence between my- on frozen capital. The position is self, the Colonial Office and the Army doubtless due in part to the general Council in regard to various points world position, but it is also due in connected with the contribution, and a large measure to high tariffs in I am happy to say that the Army neighbouring and other countries. Council has to a large extent met To-day there is a great orientation our views and it is proposed short- towards what is called Economic ly to introduce a bill into this Coun- Nationalism. There may be a good cil to give legal effect to certain con- deal to be said for such a policy, cessions which have been made in but it is apt to become short-sight- our favour. It is perhaps pertinent ed and parochial. No doubt a coun- to point out that the Garrison here try is wise to develop its own quite apart from the security which sources and try to a large extent it affords brings considerable indirect to become self-supporting, but gen- advantage to the Colony in that iterally speaking most nations have employs a considerable amount of something to give and something to labour and spends in the Colony what amounts to a very large sum annually.
re-
take and it is usually not economically sound to try and live entirely within their own barriers. A measure of in- ternational co-operation would almost Not Badly Served.
invariably bring greater benefits to all concerned. Gentlemen, the Budget which has to a large extent postulates protec- Economic Nationalism been submitted to you cannot be re-tive tariffs, and it can scarcely be
denied that their growth is having an adverse effect on general pros- perity. If nations would only realize