CO129-322 - Acting Governor May - 1904 [1-5] — Page 69

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed

enjoys greater privacy than it can do here where congested space and high rents render it difficult for all but the very wealthy to occupy an entire house to themselves. If rapid communication by Railway were established with the New Territories, I feel sure that the richer Chinese would gradually build houses for their families there. Even the poorer families might reside there and come in to their work in this City. A great and beneficial development in the New Territories and relief of the congestion in Victoria would follow. If therefore a guarantee in addition to that of China is necessary to the speedy raising of capital to carry out the project then I venture to submit the following considerations in support of Mr. Smith's proposal.

During the period of construction interest on the capital subscribed would be paid out of capital. Therefore the guarantee by this Government would only be called up in the event of the Railway not paying and of the Chinese Government failing to meet their guarantee.

Now in my opinion, which is shared by those best able to form a judgment, the line if judiciously constructed so as to tap the most populous centres between Hongkong and Canton, would pay. Those who doubt whether the line would pay appear to me to consider only the direct passenger traffic between this Colony and Canton, and to assume that the Steamers which provide quick communication by water would be successful rivals of the Railway.

But there are a number of large and populous towns

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68 enjoys greater privacy than it can do here where congested space and high rents render it difficult for all but the very wealthy to occupy an entire house to themselves. If rapid communication by Railway were established with the New Territories, I feel sure that the richer Chinese would gradually build houses for their families there. Even the poorer families might reside there and come in to their work in this City. A great and beneficial development in the New Territories and relief of the congestion in Victoria would follow. If therefore a guarantee in addition to that of China is necessary to the speedy raising of capital to carry out the project then I venture to submit the following considerations in support of Mr. Smith's proposal. During the period of construction interest on the capital subscribed would be paid out of capital. Therefore the guarantee by this Government would only be called up in the event of the Railway not paying and of the Chinese Government failing to meet their guarantee. 5. Now in my opinion, which is shared by those best able to form a judgment, the line if judiciously constructed so as to tap the most populous centres between Hongkong and Canton, would pay. Those who doubt whether the line would pay appear to me to consider only the direct passenger traffic between this Colony and Canton, and to assume that the Steamers which provide quick communication by water would be successful rivals of the Railway. But there are a number of large and populous towns

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68 enjoys greater privacy than it can do here where congested space and high rents render it difficult for all but the very wealthy to occupy an entire house to themselves. If rapid communication by Railway were established with the New Terri- tories, I feel sure that the richer Chinese would gradually t build houses for their families, there. Even the poorer families might reside there and come in their work in this City. A great and heneficial development in the New Territories and relief of the congestion in Victoria would follow. If therefore a guarantee in addition to that of Chira is necessary to the speedy raising of capital to carry out the project then I ven- ture to submit the following considerations in support of Mr. Smith's proposal. During the period of construction interest on the capital subscribed would be paid out of capital. There- fore the guarantee by this Goverment would only be called up in the event of the Railway not paying and of the Chinese Goverment failing to meet their guarantee. 5. Now in my opinion, which is shared by those best able to form a judgment, the line if judiciously constructed so as to tap the most populous centres between Hongkong and Canton, would pay. Those who doubt whether the line would pay appear to me to consider only the direct passenger traffic between this Colony and Canton, and to assume that the Stemmers which provide quick communication by water would be successful rivals of the Railway. But there are a number of large and populous towns

2026-06-01 15:43:18 · Baseline

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enjoys greater privacy than it can do here where congested

space and high rents render it difficult for all but the very

wealthy to occupy an entire house to themselves. If rapid

communication by Railway were established with the New Terri-

tories, I feel sure that the richer Chinese would gradually

build houses for their families, there. Even the poorer families

might reside there and come in their work in this City. A

great and heneficial development in the New Territories and

relief of the congestion in Victoria would follow. If therefore

a guarantee in addition to that of Chira is necessary to the

speedy raising of capital to carry out the project then I ven-

ture to submit the following considerations in support of Mr.

Smith's proposal.

During the period of construction interest

on the capital subscribed would be paid out of capital. There-

fore the guarantee by this Goverment would only be called up

in the event of the Railway not paying and of the Chinese

Goverment failing to meet their guarantee.

Now in my opinion, which is shared by

those best able to form a judgment, the line if judiciously

constructed so as to tap the most populous centres between

Hongkong and Canton, would pay.

Those who doubt whether the line would

pay appear to me to consider only the direct passenger traffic

between this Colony and Canton, and to assume that the Stemmers

which provide quick communication by water would be successful

rivals of the Railway.

But there are a number of large and populous

towns

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