CO129-424 - Governor Sir May - 1915 [9-10] — Page 151

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147

other assets than trade goods such as land, buildings, leases and

trade marks, so that British creditors have to wait payment of

their debts pending the realisation of stocks to the best advantage.

In such cases the creditor is kept out of his

money and as far as Hongkong is concerned the so-called "War on

German trade" resolves itself into the other extreme, namely,

"The preservation of German trade" and it would consequently be

more honest to instruct the present Liquidators to call themselves

"Preservator=”.

It is not desired to make hard and fast miles

but on the contrary it is hoped that Liquidators will be given power to soll all or any of the various forms of assets, tangible

and intangible, which may be turned into money at such times and

for such sums as in the discretion of the Liquidators seens best w

and that celerity be made an object though not the chief one. In

fact, what is required is liquidation in the proper sense of the

word, having due regard to local market conditions.

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There is no doubt that the late German business

community will neither settle down in Hongkong after the war, unless

it unhappily turns in their favour, with any feelings of gratitude for being again allowed to trade nor with any object having direct or indirect tendency to benefit the Colony. Their object will be to toke what benefits they can and if possible use it as the base

from which transference of their business under easy conditions can be made to Canton and Whampoa. The great difficulties in start- -ing a new firm or business is finding a new and suitable base and the length of time taken to become known under the new conditions. There is no reason my Committee can urge why any help should be given Germans in this direction as recent events have proved that the mistaken kindness shown by the British Government and the British people was accepted by the Germans to cloak their real intention of underhand agression.

It has been the past policy of the Government to prevent the sale of German assets of a capital nature even

when

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