CO129-339 - Acting Governor May Governor Nathan - 1907 [1-3] — Page 511

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

507

medium-sized house decently situated, vary between $150 to $250 a month. Considering this from the point of view of sterling, with the dollar at 1/6: taking a mean rent of £300 a month (apart from rates), the rent is £16.13.4 a month or $200 per annum. With the dollar at 3/2 (the rate at which salaries were paid this month) the rent is £21.8 a month or $256 per annum.

Considering the question from the silver point of view with the dollar at 1/9, the mean salary of first class appointments may be put at $1000 a month but with the dollar at 2/2 such a salary is reduced to £375 a month.

It will thus be seen that rents in Hongkong are higher than those paid in England: and far exceed the recognised proportion which rent should bear to income. But putting this on one side whichever way it is looked at, either the increasing sterling rent, or the diminishing currency salary, the question of house rent is not merely the principal item of expenditure effected by the exchange, but so much an important one that even if it stood alone it would, we respectfully submit, be sufficient warrant for the relief which we seek. In the case of second class appointments, the item for rent can hardly be diminished, and it therefore bears a disastrous proportion to the officers' salaries.

It is hardly possible to anticipate any reduction of rent, for the cost of building and of continuous repairs is such that even at the present high rents landlords do not find house property a profitable investment. Similarly with regard to the rates: the monthly rate for a house rented at $200 is $26 (this at 1/8 in sterling is £1.7.4 and at 2/3 it is £2.17.5).

The Government has not reduced the dollar value of the rates in consequence of the high rate of Exchange nor would it be possible for it to do so. There are a number of smaller items the charges in respect of which always remain constant, and are not affected by the rate of the dollar; such as, doctors' charges, servants' wages, coolie hire, gno, trim ticket, chair hire.

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A 507 medium-sized house decently situated, vary between $150 to $250 a month. Considering this from the point of view of sterling, with the dollar at 1/6: taking a mean rent of £300 a month (apart from rates), the rent is £16.13.4 a month or $200 per annum. With the dollar at 3/2 (the rate at which salaries were paid this month) the rent is £21.8 a month or $256 per annum. Considering the question from the silver point of view with the dollar at 1/9, the mean salary of first class appointments may be put at $1000 a month but with the dollar at 2/2 such a salary is reduced to £375 a month. It will thus be seen that rents in Hongkong are higher than those paid in England: and far exceed the recognised proportion which rent should bear to income. But putting this on one side whichever way it is looked at, either the increasing sterling rent, or the diminishing currency salary, the question of house rent is not merely the principal item of expenditure effected by the exchange, but so much an important one that even if it stood alone it would, we respectfully submit, be sufficient warrant for the relief which we seek. In the case of second class appointments, the item for rent can hardly be diminished, and it therefore bears a disastrous proportion to the officers' salaries. It is hardly possible to anticipate any reduction of rent, for the cost of building and of continuous repairs is such that even at the present high rents landlords do not find house property a profitable investment. Similarly with regard to the rates: the monthly rate for a house rented at $200 is $26 (this at 1/8 in sterling is £1.7.4 and at 2/3 it is £2.17.5). The Government has not reduced the dollar value of the rates in consequence of the high rate of Exchange nor would it be possible for it to do so. There are a number of smaller items the charges in respect of which always remain constant, and are not affected by the rate of the dollar; such as, doctors' charges, servants' wages, coolie hire, gno, trim ticket, chair hire. In all

Baseline (Original)

A 507 medium-alsod houner decently situated, very between $150 to (250 a month. Considering this from the point of view of sterling, with the dollar at 1/6: taking a monn rent of £300 a month (apart from rater), the rent is £16.13.4 a nonth or $200 per annum. with the doller at 3/2) (the rate at which calaries were paid thic month) the rent is 2.1.8 a month or ut per annum. Considering the question from the silver point of view with the dollar at 1/9, the mean salary of first cinco appointments may be put at $1000 a month but with the dollar et 2/24 such a satury is reduced to 3755 a month. It will thus be seen that rentc in Hongkong are higher than those paid in Ingland: und fer exceed the recognised proportion which rent should boar to income. But putting this on ( one side whichever way it is looked at, either the increasing sterling rent, or the diminishing currency calury, the quection of house rent is not merely the principal item of expenditure effected by the exchange, but 10 mich an important one that even ir it stood alone it would, ve respectfully cubmit, be sufficéent worrent for the relief rhich we Geek, In the case of second clacr appointments, the item for rent can hardly be diminished, and it therefore boarc e dicurtrous proportion to the officerc' onlaries. It is hardly possible to anticipate any reduction of rent, for the cost of building and of continuous repairs in cuch that even at the precent high rente landlords do not find honte property a profitable invertment. Kinilarly rith regard to the rates: the nonthly rate for a houre rented at $200 12 (26 thic at 1/8 in sterling in 0.7.4 at 2/3) it in $2.17.5. The Governæent has not reduced the dollar value of the ruted in consequence of the high rute of Exchange nor would it be pocsible for it to do so. There are a mmber of craller items the charges in respect of which always rerain constant, and are not affected by the rate of the dollur; such as, doctors' charges, servinto' miget, coolie hire, gno, trim ticket, chuir hire. In all

2026-06-03 18:07:01 · Baseline

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507

medium-alsod houner decently situated, very between $150 to (250

a month. Considering this from the point of view of sterling,

with the dollar at 1/6: taking a monn rent of £300 a month

(apart from rater), the rent is £16.13.4 a nonth or $200 per

annum. with the doller at 3/2) (the rate at which calaries were

paid thic month) the rent is 2.1.8 a month or ut per annum.

Considering the question from the silver point of view with the

dollar at 1/9, the mean salary of first cinco appointments may be

put at $1000 a month but with the dollar et 2/24 such a satury

is reduced to 3755 a month.

It will thus be seen that rentc in Hongkong are higher

than those paid in Ingland: und fer exceed the recognised

proportion which rent should boar to income. But putting this on (

one side whichever way it is looked at, either the increasing

sterling rent, or the diminishing currency calury, the quection

of house rent is not merely the principal item of expenditure

effected by the exchange, but 10 mich an important one that even

ir it stood alone it would, ve respectfully cubmit, be sufficéent

worrent for the relief rhich we Geek, In the case of second clacr

appointments, the item for rent can hardly be diminished, and it

therefore boarc e dicurtrous proportion to the officerc'

onlaries. It is hardly possible to anticipate any reduction of

rent, for the cost of building and of continuous repairs in cuch

that even at the precent high rente landlords do not find honte

property a profitable invertment. Kinilarly rith regard to the

rates: the nonthly rate for a houre rented at $200 12 (26

thic at 1/8 in sterling in 0.7.4

at 2/3) it in $2.17.5.

The Governæent has not reduced the dollar value of the

ruted in consequence of the high rute of Exchange nor would it be

pocsible for it to do so. There are a mmber of craller items the

charges in respect of which always rerain constant, and are not

affected by the rate of the dollur; such as, doctors' charges,

servinto' miget, coolie hire, gno, trim ticket, chuir hire. In all

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