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 47

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language but also of the tradition and culture of the

Chinese without a knowledge of which their character is

to a stranger unintelligible.

As to the cost of the Chair it would be no use

offering less than £1000 a year, and the Finance Committee

of the University is now considering whether they should

not try to inaugurate a scale of pay for professors which

will go up to a maximum of £12,000 a year. However taking

the pay at £1,000 a year or ten thousand Hong Kong

dollars the annual sum of £240 or $2,400 must be added for

house allowance in lieu of accommodation.

There is also

the University's contribution to the Professor's Superannua-

tion Fund, and passages not only for himself, but possible

for his wife and children must not be forgotten. Speaking

roughly the new Chair would cost the University not less than

£1,500 a year. Reckoning the interest obtainable on capital

invested in Hong Kong in Trust Securities at 6 % this would

mean that each new Chair would involve an addition to the

University's capital of £25,000.

(Sgd.) W.W.Hornell.