They are now called upon to pay. They have answered indeed that the Sales were of a fictitious and speculative character, and could afford no real test of value. Nevertheless it would be difficult, as Sir H. Pottinger has observed, to apply any better test of value than Sale in a fair and open market. Under these circumstances, after fully reconsidering the matter as brought under my notice in these Despatches, I continue to adhere to the decision expressed in my Despatch of the 3d January last, that the leases for Town and Suburban lots for building purposes should not exceed 75 years, subject of course to the discretion of the Governor to grant leases for a longer or shorter time to time. The reports which I have recently received from you sufficiently show that the terms fixed for the disposal of Land in Hong Kong have been no discouragement to building speculations, nor to the purchase of land at high rents.
Having thus decided the more important and general question raised by these Despatches, it
They
new called upon to
pay. They have Ansuered
indeed that the Sales
nere. of a fictitions
Anot
Speculative character, and could afford no real best of value. Nevertheless it
mould be deffrailt, as
Sie 4. Pottingen has obsemed,
to apply any
better test
f
value than Sale in
a
fair and open market-
Under there evciemstances
aften fully reconsidering
the matten as
brought under
My notes in there Despatches,
I continue to adhere to the
decision expressed in my
Despatch of the 3d
January
#
last, that the leaser
Tonn
L
Fown and Suburban
23
Foto for building puspores
should not exceed. 75
gears, subject of
Course
to the discution of the
Gost to grant cenerals
time to time.
to time. She
From Wine
reports which I have recently received from you sufficiently show that the terms fixiel for the disposal of Land.
Hong
Kous have been no
discouragement to building
speculations, nor to the
purchase of land at high rents.
on.
Baring this decided the more important
and general question_ raised by there Despatches,
it
No comments yet.
Private notes are available after approval.