51
contributors.
He also gave estimates of the sums
required to restore the University to its 1941 level:-
$4,000,000 capital and $1,500,000 annually.
He suggested
that the former sum should be met from United Kingdom
funds and the latter from Hong Kong funds.
This was put to the Treasury on 17th October (No.49).
But again direct U.K. assistance was refused, though the
Treasury conceded that they would not object to the capital
and recurrent charges on this limited project being borne
on the Hong Kong estimates and would be prepared to face
any consequent repercussions on the general financial
situation in Hong Kong. These decisions were conveyed
to Hong Kong in No.52 of 20th November, to which there has
not yet been a reply. In No.55 of 19th December we gave
the Governor some comments on the poor prospects of assist-
ance from the foreign expenditure side of the British
Council with reference to a suggestion made by the
Treasury which we passed on in No.52.
The present position is that we await the Governor's
comments on the possibility of Hong Kong's finding the
money for rehabilitation of the University up to 1941
standard and his suggestions for a public announcement
to be made simultaneously here and in Hong Kong. In
both respects we have had to set him a difficult task.
I am dyed for above information. It is all
now unfortunate operhaps incortable But I can't see what, in preses incun sterres offenses can be done
Acd. 231.2