2.
was black. Afraid that the public revenue would have to provide
for the deficit the Governor ordered this enquiry to make drastic
When the audit took place about a month ago,
recommendations.
72
there was a surplus of 46000 $ on the year's working, so the
prognostications of the Treasurer over four months were wrong, but
thx he had created the right almosphere. The Finance Committee of
the University which is the Star Chamber of the institution has on
it at present the General Manager of the H.K. Shanghai Bank, a
sub-manager as the Treasurer, and a director. Its influence
therefore in university matters is dominant for there is after that
only the Vice-chancellor whose knowledge of finance is precisely nil,
and the Colonial Treasurer. The same bank has also six members on
the Court but that is a large body. Now the question arises why amI
singled out in this particular report? There are several reasons
I offended the bank some time ago by exercising my right to take my
money out in silver, when the doller was felling to transfer it to
England. The money had been my salary and had been put in t 2/3.
•
n
-
The dollar dropped to 1/5, though at the time the silver doller
was still selling for 2/- I transferred my account to another bank.
When this committee was appointed I queried its validity. It was
an en uiry imposed by the Governor qua Governor on the University
without any formal approval being sought for from the University
Court or Council. It was merely announce that it would take place.
I enclose the correspondence about that. Again my views are too
liberal for the ruling powers here for I have consistently drawn
attention to the neglect of Education on the primary side, and the
need for higher taxation.
But the chief trouble lies with
1