4
The report was carried out rapidly and does
In
not appear to be altogether satisfactory.
particular the argument in para. 8 of Part III is
confused, while in basing their comparison with the
year 1933, the Commission make little effort to
consider whether rents at that time were unduly high.
Nor, in assessing rents as a return on capital outlay,
/
is it clear whether the rate of net profit is
calculated after making an allowance for depreciation,
or whether it includes an element of amortisation.
The arguments against the introduction of rent
restriction take little account of the measures at
present in force in this country, a comparison which
cannot, I think, be altogether neglected in spite of
local differences. Finally, I understand that it
has been a general complaint of Colonial officials
that rents are generally very high in Hong Kong, and
this is not evidence which can be altogether ignored.
We are not in a position to press the
Colonial Government to introduce rent restriction I
think, but I suggest that it might be an advantage to
acknowledge the despatch, note paragraph 2, and say
that the Colonial Government will no doubt watch the
position carefully with a view to further
consideration should it appear necessary.
? so proceed.
P.
1. RogeD
5.4.38.
I had a balk with Mr Schofield
the Hany Komy Cadet who was
of this tommium
の
read the report, hut
Charm
Au
I had not
on Schofield
Said that
the Temunisane
fully