CO129-524-2 Hong Kong University- financial position- Chinese studies- future of the Chinese school and the Annual... 27-1-1930 - 12-8-1930 — Page 212

4.

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for anxiety.

During the year 1929 a Committee was appointed

by me, as Chancellor of the University, to consider the question of the revision of the salaries of the administrat-

ive and academic staffs of the University. This Committee, over which Sir Henry Gollan presided, has reported in clear terms that these salaries are quite inadequate and its recommendations for an all round increase were approved by the Court of the University. The additional annual cost of giving effect to these recommendations was at first estimated to be about $140,000. This sum was calculated on the basis of a ls.8d. dollar; but, owing to the further downward trend of the dollar, it is estimated that the sum required to give effect to the Committee's proposals will amount to about $176,000 a year. If this amount is added to the prospective deficit of $80,000 the total estimated deficit in the year now current will amount to $256,000.

7.

It is obvious that, without assistance from outside, the University will not be able to face this increased expenditure. The University Court has accordingly approached the Hong Kong Government to increase its annual grant of $50,000 to one of $250,000 a year. If the dollar had remained at ls. 8d., this increase would have enabled the University to balance its budget and to make a long overdue increase in sterling salaries. With the dollar in the neighbourhood of ls.6d., unless the resources of the University are still further increased from some other source, it will not be possible until exchange improves to give anything like full effect to the recommendations of the Salaries Committee.

8.

The additional grant asked for from the Hong Kong Goverment is a large one; but it is, I submit, completely justified by the experience of the British

Government