GENERAL OBSERVATIONS.
1925 was not a happy year for the Colony, though the manner in which it weathered the storm is a matter of self-congratulation for all sections of the community.
A strike, political in its origin, and neither provoked by any fault of omission or commission on the part of the local authorities, nor designed to remedy any economic grievance, real or imaginary, commenced about the 20th of June, and in a few days the great majority of household servants, sailors, engineers and workers of all kinds had deserted their posts. The arrangements made by the Government for maintaining essential services, and for ensuring the food supply of the Colony were brought into operation without a hitch.
The Hong Kong Volunteer Defence Corps was mobilised on the 21st of June, and calls for volunteers as special constables, tramway drivers, crews for the Kowloon ferries etc. met with a ready response. The firm attitude taken up by the Government rapidly restored confidence, and towards the end of July the demobilisation of the Hong Kong Volunteer Defence Corps commenced. Places of strikers were filled, workers began to come back until outwardly the Colony was quite normal again. But though the strike had collapsed there followed a boycott of British trade and shipping in South China, instigated by and only maintained through the activities of the strike picket organisation with headquarters in Canton, to the detriment of merchants and business people both British and Chinese, in Hong Kong, Canton, Swatow and the Kwang-Tung province generally.
In order to assist the business community to tide over the difficulties caused by the boycott the Secretary of State for the Colonies in October arranged for a loan to the Hong Kong Government of £3,000,000 to be advanced to merchants. A local committee was specially appointed to advise on the allocation of these funds.
The Stock Exchanges were closed on the outbreak of the strike, and on the 7th July the Legislative Council legalised the postponement of the June Settlement. A Commission was appointed on the 18th August to enquire into the arrangements for dealing in shares locally. The report of the Commission was published on the 19th October.
GENERAL OBSERVATIONS.
1925 was not a happy year for the Colony, though the manner in which it weathered the storm is a matter of self congratulation for all sections of the community.
A strike, political in its origin, and neither provoked by any fault of omission or commission on the part of the local authorities, nor designed to remedy any economic grievance, real or imaginary, commenced about the 20th of June, and in a few days the great majority of household servants, sailors, engineers and workers of all kinds had deserted their posts. The arrangements made by the Government for maintaining essential services, and for ensuring the food supply of the Colony were brought into operation without a hitch.
The Hong Kong Volunteer Defence Corps was mobilised on the 21st of June, and calls for volunteers as special constables, tramway drivers, crews for the Kowloon ferries etc. met with a ready response. The firm attitude taken up by the Government rapidly restored confidence, and towards the end of July the demobilisation of the Hong Kong Volunteer Defence Corps commenced. Places of strikers were filled, workers began to come back until outwardly the Colony was quite normal again. But though the strike had col- lapsed there followed a boycott of British trade and shipping in South China, instigated by and only maintained through the acti- vities of the strike picket organisation with headquarters in Canton, to the detriment of merchants and business people both British and Chinese, in Hong Kong, Canton, Swatow and the Kwang-Tung province generally.
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In order to assist the business community to tide over the difficulties caused by the boycott the Secretary of State for the Colonies in October arranged for a loan to the Hong Kong Govern- ment of £3,000,000 to be advanced to merchants. A local committee was specially appointed to advise on the allocation of these funds.
The Stock Exchanges were closed on the outbreak of the strike, and on the 7th July the Legislative Council legalised the postpone- ment of the June Settlement. A Commission was appointed on the 18th August to enquire into the arrangements for dealing in shares locally. The report of the Commission was published on the 19th October.
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