HONG KONG LEGISLATIVE COUNCIL.
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and greater prosperity. It was for this reason that, for the past three years, on each occasion of the budget debate, my comments have been confined to Kowloon affairs and the programme of public works in connection therewith. My remarks on the present occasion are addressed within the same limitations.
I feel the obligation is imposed on me in the first place to express my thanks to the Government for the unfailing courtesy accorded to the several representations I have had the honour to make to Your Excellency on the numerous occasions that I felt it my duty to address the Government in the interests of my
results fellow-citizens. The
of those
have representations invariably led to public improvements of existing, and the provision of new, amenities that contribute to the well-being of the community on the Peninsula.
new
Just a fortnight ago the Government enunciated its economic policy, namely, that of maintaining a minimum surplus balance of $10,000,000. None can cavil at a policy dictated by a measure of prudence, the more so when regard is had to the occasional disturbing influences that have given the Colony material for anxious thought. At the same time, reference may not inappropriately be made to what may be called an axiomatic principle, of suitable application to Hong Kong, relating to municipal economies, in the Model Settlement of Shanghai. The North China Daily News of that City moralised editorially that "economy without efficiency is dangerous. Economy which means stagnation is no less harmful."
Speaking of Kowloon, there should be really no well-founded fear on the part of the Government for its hesitancy in embarking on much-needed public works when confidence in the future of that part of the Colony is so well sustained by private enterprise. Instead of Government setting the example for individuals and public companies to follow, the latter lead the way in the numerous undertakings which are a striking example of the faith reposed in Kowloon by capitalists within the Colony and from abroad who initiate and develop industries that form the Colony's most valuable assets in more ways than one.
as
of
The growth of the erstwhile pigfarming districts Shamshuipo and Kowloon City into important industrial centres; the founding of Homuntin
a salubrious settlement; the transformation of the deadly malarious swamps of Kowloon Tong into a well-ordered and picturesque Garden City, and the recent advent of a new scheme now intensively developing into an elevated residential area planned on approved lines, need only be mentioned for it to be realised how many millions of dollars' worth of capital are being invested in the confident belief of their absolute security and prospective profit. Forgetting, if it were
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