CO129-529-1 Diocesan Boys' School and Orphanage- appeal for money 2-1-1931 - 10-5-1932 — Page 51

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at all depends on the goodwill of its Teaching Staff and their

willingness to accept the meagre salaries paid them together

with freedom from the Interest and Sinking Fund Charges already

referred to, and, unless it is to receive immediately an

ingreased Grant-in-Aid, the School will require a period of at

least five years under these conditions in which to recover its

position. It requires freedom from the burden of the loan to

enable it to contemplate the possibility towards the end of

that period of some moderate increase in pay for its Teaching

Staff.

(35) A copy of the last Balance Sheet and Accounts of

the School is attached here to (Appendix "B"), which sets out

its financial position, and attention should be drawn to the

fact that the Endowment Fund, already small, has since been

depleted in order to meet pressing financial engagements. The

amount thus expended is $25,000

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leaving the sum of only

$25,000.- in the Fund at the present time.

(36) The School Committee would not have had recourse to

this extreme measure had it had any other means of satisfying

outstanding creditors who had already displayed great patience

in connection with amounts due.

(37) If the School is closed it will be one centre less

for the diffusion of British cultural ideals in China. The

Report of the Economic Mission to the Far East already deplores

the meagre part played in that respect and strongly urges that

prompt measures should be taken to extend British cultural

influence to the same extent as that exerted by the United

States of America, and also to combat Russian influence. It

is claimed that the School has been discharging that imperial

duty for the past 60 years and is therefore worthy of such

support as will enable it to continue to perform a task, which