serious drawback to the prosperity of the place.
Your Lordship is no doubt aware that this high Ground-rent was chiefly occasioned by the unnatural competition consequent upon the inadequate number of lots of land offered for sale in the first instance, and your Memorialists would now direct the attention of Your Lordship to the absence of any active local trade capable of supporting such a burden:
Your Memorialists desire not to be understood as claiming exemption from reasonable taxation, but would urge on the consideration of H.M. Government, the necessity of an early and important reduction of the Ground-rent in Hongkong, as well as a revision of the terms of the present leases, as the only effectual means of enabling your Memorialists to support their position as British Colonists.
Your Memorialists annex a Return showing the Ground-rent paid for each Lot, its Area, and the Annual Rental or estimated Rental of the buildings erected on it; by which it would appear the Ground-rents received by Government in Hongkong, equal, or exceed, the House rents paid.
serious drawback to the prosperity of the place.
Your Lordship is no doubt aware
that this high Fround - rent was chiefly occasioned by the unnatural conspetition/ consequent upon the inadequate number of lots of land offered for sale in the first instance, and your Memerialists would now direct the attention of your Fordship to the absence of any active local trade capable of
supporting such a burden:
Your Memorialist's desire not to be
understood as cla
claiming seemption from reasonable
suxation, but would
urge.
on the consideration of A. M. Severnment, the necessity of an early and
important reduction of the Fround.
in Houghing,
As
well as
-
raits levied
a revision of the terms
of the prosent leases, as the only effectual
means
of enabling your Memorialists to support their position as British Colonists.
Your Memorialists annex a Tetum
- showing the Freund - sent paid for each Lot, its
Area, and the Annual Rental or estimated Rental
of the buildings erected on it; by which it would. appear the Ground rents received.
by
Severnwant in Hongstong, equal, or exend, the House rents
paidze 2
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