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64
that the financial crisis of 1947 made it impossible to implement the recomm- endations of the Cox Committee that the University should be re-established on a basis which would enable it to fulfil the intentions of the founders of the University i.e. that it should become an effective centre for Sino-British contact in the sphere of learning; that nevertheless the Secretary of State feels that it was right that, even so the University should have been re- established on a more modest scale; and that the Secretary of State recognises that this carries with it the responsibility for ensuring that it is adequately Fineneet, that H.M.G. fully recognises that it is an Imperial interest that there should be an adequate University in Hong Kong, not only from the point of view of providing the population of Hong Kong with higher educational facilities and for the professional training which is necessary for the conduct of both private and public affairs, but also as part of our "shop window" in the Far East for spreading the knowledge of the British way of life. The Secretary of State might then again say that for these reasons it has been a very great disappointment to the Colonial Office that it has not been possible for H.M.G. to make more substantial financial provision for the University; but that even so the fact that £2 million has been contributed from U.K. funds since 1947 should be regarded with appreciation by the people of Hong Kong, having regard to the great burders which this country has had to bear.
The Secretary of State might then say that it is a great disappointment to him that he feels that, in present circumstances, it would not be possible for H.M.G. to make a direct contribution of the order now suggested, but that he has nevertheless been much concerned to see that some means should be found to enable the University to carry on its activities and he is glad to say that he thinks that we have been successful in this.
The Secretary of State might then refer to the statement made in reply to the F.Q. yesterday (copy annexed). The Secretary of State might briefly say what the decision has been as regards the disposal of Japanese assets in this country, and then read out the passage marked as to the disposal of Japanese assets in the Colonies The Secretary of State might then say that in his hope that this matter be decided in the way it has, the Secretary of State consulted the Governor last week as to whether, in that event, a substantial part of the Japanese assets held in Hong Kong might not profitably be set aside for the establishment of an Endowment Fund for the University; and that the Secretary of State is glad to say that he has now received an affirmative reply from the Governor i.e. Hong Kong telegram No. 792 which the Secretary of State might then read out.
-
The Secretary of State might then say that this proposal (i.e. for an allocation to the University of a sum of £ million) would in fact provide the University with a more substantial Endowment Fund than it would have achieved under the Governor's proposals.
The Secretary of State might perhaps express the hope that the Delegation
but that be very
will regard this as a very satisfactory solution to their prey provided from Sinarily twats that the fact that puch
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problem,
It is possible (though we hope not probable) that the Delegation will take the line: "Thank you for nothing" on the grounds that they had assumed that, in any event, Hong Kong would be allowed to keep the Japanese assets in their custody, and that accordingly this proposal does not represent any generosity on the part of H.M.G. If they take this line the Secretary of State might reply, the contrary there was no certainty, until this week, that H.M.G. would accept the view that the Japanese assets should remain in the territories where they now rest. There might well then be a decision that these assets should have been placed in a "reparations" pool and that from such
put in Uncfficialsft pool, Hong Kong might well not have received anything like the amount which will
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how be available for the benefit of the Colony (i.e. a total of an estimated £1 million). The Secretary of State might mention that the total amount of the Japanese assets involved in the various Fer Eastern territories may be something in the neighbourhood of £25 million)
ܐܡܘܪܐܐܪre
The Secretary of State should perhaps wind up his remarks by impressing upon the Delegation that, at the present stage the information which he has given is strictly confidential and should not be divulged until proper arrangements have been made for coordinating the public statements which will no doubt now have to be made in the various Far Eastern territories concerned as to the disposal of the Japanese assets which are at present in the custody of the various territories.
26th July, 1951.