4 August, 1948.
264. Governor Bonham.
The Whorl Grey.
1 Inclosures.
to 64
Received
Despatch to 32 of 4 May.
Acknowledging receipt of
and reporting
the present tenure of Land at Hongkong.
Mr Mic.
Ats: 1 Mar full.
Their
The main point shown by this despatch is that the Govt has impressed upon the inhabitants the difficulty of a general reduction of Rents, and believes that he say led there rather to look to an extension Leases, on which subject word he was not indisposed to entertain any reasonable Proposal. The Governor does not however have was the term which had suggest any particular extension. 99 Years occurred to my mind but as they already hold for 45 years, they not perhaps set much value on an addition of 1/372 opportunity. It would hardly be advisable. Therefore 14 year you had limited suggestions from the principal Residents and may receive a future of th I think ... followed.
9.5% 1
GOVERNMENT NOTIFICATION.
His Excellency the Governor is pleased to direct that the subjoined Extract from a Despatch lately received from The Right Honourable Her Majesty's Principal Secretary of State for the Colonies, dated 4th May 1848, in reply to a Memorial from the British Merchants and other Inhabitants of this Colony, of the 19th February 1848, be published for general information.
By Order,
Colonial Office, Victoria, Hongkong, 17th July, 1848.
EXTRACT.
W. CAINE, Colonial Secretary.
"I have to request that you will acquaint the Memorialists, that with every desire to meet their wishes, and to promote the interests of the community, I cannot admit that they have established any good ground for the reduction they seek, or that this measure would really be for the advantage of the Colony. Her Majesty's Government are of opinion, that after the large grants which have already been made for Hongkong, Parliament could not with any propriety be asked to provide for the expense of those services to which the Rents in question are now applied, and in which the residents in the Colony are chiefly interested: if therefore these Rents were to be reduced, it would be necessary that the deficiency so occasioned in the Colonial Revenue should be supplied by some new taxation. But under the circumstances of Hongkong, it would be fatal to the objects of the Settlement to raise a Revenue by Customs duties or dues upon Shipping, nor is there any other mode of levying the requisite amount of income which appears to be liable to so little just objection as that of requiring from the occupiers of Land the payment of a Rent the amount of which has been determined by public competition, and to which the parties liable to it have voluntarily bound themselves. But, independently of these reasons in support of the arrangement upon this subject which was adopted when the settlement was first established, the effect of now altering that arrangement by acceding to the prayer of the Petitioners, would, I conceive, be highly unjust to the unsuccessful bidders for the lots of which the Petitioners are now in possession only in consideration of their having freely undertaken to pay the Rents which they now seek to have reduced. I am glad however to find that the suggestion offered by Sir John Davis, and in which I am disposed to concur, of extending the term of the existing Leases, or perhaps of granting them in perpetuity, would be accepted as a boon by the merchants; and I beg to refer you to my Despatch of the 18th February, No. 2, in which I have requested your opinion and report upon this subject.”
(True Extract,)
W. CAINE,
Colonial Secretary.
290
i
4 August,
1948.
264. Governor Bonham.
The Whorl Grey.
1 Inclosures.
to 64
Received
Despatch to 32 of 4 may.
Jcknowledging, receipt of
and reporting,
the present.
tenure of Land at Hongkong.
Mr Mic.
Ats: 1 Mar full.
their
The main point shown by this despistel is that the Govt has impressed apou the inhabitants the difficulty of a xeniral reduction of Rents, and beheves that he say! led there rather to look to an extension Leases, on which subject word he was not india : posed to entertain any reasonabile Proporal. The Governor does not however
have
was the term which had suggest any particular extension. 99
Years
occurred to
my
mind but as they
abready hold for 45 years, they
1024.
not perhaps.
set much
value on an addition of
1/372
opportunity. It w? hardly the advisable. Therefore
14 year you had mited suggestions from the principal. Residents and
may Uceive
a fiturs
of th
I think
Им
followed.
9.5%
1
GOVERNMENT NOTIFICATION.
His Excellency the Governor is pleased to direct that the subjoined Extract from a Despatch lately received from The Right Honourablo Her Majesty's Principal Secretary of State for the Colonies, dated 4th May 1848, in reply to a Memorial from the British Merchants and other Inhabitants of this Colony, of the 19th February
1848, be published for general information.
By Order,
Colonial Office, Victoria, Hongkong, 17th July, 1848.
EXTRACT.
W. CAINE, Colonial Secretary.
"I have to request that you will acquaint the Memorialists, that with every desire to meet their wishes, and to promote the interests of the community, I cannot admit that they have established any good ground for the reduction they seek, or that this measure would really be for the advantage of the Colony. Her Majesty's Government are of opinion, that after the large grants which have already been made for Hongkong, Parliament could not with any propriety be asked to provide for the expense of those services to which the Rents in question are now applied, and in which the residents in the Colony are chiefly interested: if therefore these Rents were to be reduced, it would Bo necessary that the deficiency so occasioned in the Colonial Revenue should be supplied by some new taxation. But under the circumstances of Hongkong, it would be fatal to the objects of the Bettlement to raise a Revenue by Customs duties or dues upon Shipping, nor is there any other mode of levying the requisite amount of income which appears to be liable to so little just objection as that of requiring from the occupiers of Land the payment of a Rent the amount of which has been determined by public competition, and to which the parties liable to it have voluntarily bound themselves. But, independently of these reasons in support of the arrangement upon this subject which was adopted when the settlement was first established, the effect of now altering that arrangement by acceding to the prayer of the Petitioners, would, I conceive, be highly unjust to the unsuccessful bidders for the lots of which the Petitioners are now in possession only in consideration of their having freely undertaken to pay the Rents which they now seek to have reduced. I am glad however to find that the suggestion offered by Sir John Davis, and in which I am disposed to concur, of extending the term of the existing Leases, or perhaps of granting them in perpetuity, would be accepted as a boon by the merchants; and I beg to refer you to my Despatch of the 18th February, No. 2, in which I have requested your opinion and report upon this subject.”
(True Extract,)
W. CAINE,
Colonial Secretary.
290
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