CHINESE BENEVOLENT INVESTMENTS.
My attention has been called by the Chinese inhabitants to a plan by which wealthy Chinese in this Colony may put aside a certain portion of the money they make, investing it in such a way as to benefit their descendants and also to benefit the general community. This trust property would be administered by a certain number of the Chinese residents, perhaps those who under one of our Ordinances conduct so admirably the affairs of the Tung-wá Hospital, and to that body of gentlemen will be given from time to time considerable sums by wealthy Chinese which will be invested by them, a certain portion, say seven-tenths, to be appropriated so as to benefit the descendants of the donors by giving them education, and in other ways, the remaining three-tenths to be devoted to the public interests of the Colony in general. A scheme of that kind, carefully elaborated, has been recommended to me by what I am justified in describing as the Chinese community of the Colony. I am disposed to give it the most favourable consideration, and I mention it now with satisfaction because it is a further indication of the real progress of Hongkong. As long as these gentlemen, who, as you know, now represent not only the vast majority of rate-payers but the wealthiest rate-payers in the community—out of the twenty largest rate-payers in 1881, seventeen were Chinese—as long as they desire to establish themselves and their descendants in the Colony for ever, so long we have a guarantee for loyalty and good order. On the whole, gentlemen, in opening the Legislative Session 1882 I think we can all look forward, without anxiety, to the continued prosperity of the Colony.
*Names of the twenty Rate-payers paying the largest amount of rates for the years 1876 and 1881.
1876 1881
AMOUNT AMOUNT
1. Douglas, Lapraik & Co., $ C. 11,108.92 1. Wo-Hang, $ C. 10,240.00
2. Jardine, Matheson & Co., 8,453.40 2. 'Ng Sang, 11,397.00
3. Kwok Acheong, 6,900.36 3. Douglas, Lapraik & Co., 9,466.80
4. T. G. Linstead, 6,527.52 4. Jardine, Matheson & Co., 7,544.60
5. Siemssen & Co., 6,305.44 5. Yeong Shu-lum, 6,876.00
6. Turner & Co., ... 5,913.72 6. Lum Sow, 6,003.90
7. D. Sassoon Sons & Co.,...... 5,499.00 7. Ho Lai Shi, 5,863.39
8. J. J. dos Remedios & Co.,... 4,972.80 8. Kwok Ying Kai, 5,748.00
9. Lum Sow,...................... 4,475.08 9. Ching Sing Yeong, 5,730.30
10. H'kong & S'hai Banking Corporation, 3,938.40 10. Lo Shing, 5,624.00
11. Wo Hang, 3,372.48 11. 'Ng Cheong, 5,363.00
12. Lee Shing, 8,154.80 12. Yeong Amow, 4,968.00
13. Choy Chan, 2,988.00 13. Tang Luk, 4,748.00
14. Coare Lind & Co., 2,965.08 14. Kwok Ying Show, 4,700.25
15. Choo Wing Yoong, 2,585.40 15. Low Cheong, 4,690.46
16. 'Ng Sang,............... 2,572.80 16. Koo Mun Wa, 4,596.70
17. W. Curtis, 2,467.44 17. Ip Ching Chuen, 4,516.00
18. J. Gerrard, 2,261.28 18. Choy Chan, 4,048.77
19. Yeong Shu-lam, ................ 2,212.20 19. D. Sassoon Sons & Co., 4,020.89
20. Gibb, Livingston & Co., 2,110.80 20. Fung Wing, 3,996.39
90,790.92 120,142.45
Of the twenty principal Rate-payers in 1870, twelve were foreign houses contributing $62,523, and eight were Chinese contributing $28,267.
Of the twenty principal Rate-payers in 1881, three were foreign houses contributing $21,032, and seventeen Chinese contributing $99,110.
Total amount of rates collected in 1876 at 1¼% $184,509.25. Total amount of rates collected in 1881 at 1¼%=$221,796.23.