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"Gentlemen, let me ask you to drain your glasses in "drinking to the continued prosperity of Singapore with "Free Trade in its fullest integrity".
Mr. Purvis the oldest merchant present (who as a matter of fact came out to the East with Mr. Jardine and Mr. Matheson but stayed on at Singapore) replied inter alia as follows:-"On a recent occasion I alluded "to the 'true interests' of the Settlement and I will now "mention one of the most important. It is this:-To "preserve Singapore in all integrity, a Free Port! The "principles adopted by Sir Stamford Raffles, he left as "a legacy to Singapore for its rule and guidance and "as the Government are trustees to the bequest, I feel "assured it will be faithfully carried out”.
In the Petition forwarded to both Houses of Parliament in England in 1857 by the European inhabitants of Singapore asking that the Straits Settle- ments might be transferred from the East India Com- pany to the Colonial Office the following appears "The "Settlement of Singapore was established as an outlet "for British commerce and the preservation of its "integrity as a Free Port has always been recognised "by statesmen as essential to its prosperity and the full "development of the objects contemplated in its "formation".
True it is that Singapore has in a measure recently departed from its principles of Free Trade but this has been forced on it by the Colonial Office and in opposition to the wishes of the Unofficial Members of the Legislative Council, but the underlying principle still remains and it is only due to Japanese competition in the British Empire generally_that Singapore has been forced to go back on its Free Port policy which has been responsible for its prosperity in the past.
It can of course be fairly argued, that the whole Malay Peninsula has now become one, for trade purposes, and the production of rubber and tin has placed Singapore in quite a different category, and I am inclined to think that this is so.
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I am nevertheless of the opinion that the conditions that exist in Hongkong to-day are similar to the conditions that existed for the greater part of the past 100 years at Singapore.
Before leaving the problem of the Free Port Status, I think it can be fairly argued that the British policy of assimulating strategic points on the earth's surface has been permitted by the other leading nations of the world, by reason of the Free Port principle and that we, as it were, have been permitted to assume a mandate in various places by reason of our policy and should we go back on that policy we are morally guilty of a form of breach of trust.
6.-Hongkong is fortunate in having a native population of hard working and resourceful people, who are quite happy to work for a rate of wage that no European would think of accepting. On the current wage he is able to live and bring up his family com- fortably according to his views. Labour in this Colony is largely migratory, and if work is not offering, they return to their ancestral homes in China, to return again when conditions are more prosperous.
I believe there is no country in the world outside China where such satisfactory and efficient labour is obtainable at such a low wage.
7.-Hongkong by reason of its Free Port Status enables goods to be moved and be handled freely, untramelled by oppressive restrictions and at a minimum of cost.
8. The security which Hongkong affords by reason of the fact that the Union Jack flies over it is of inestimate value. There is a security of person, liberty, and property, which certainly cannot be equalled in the Far East.
9.-Hongkong by reason of the fact that it is the Front Door to South China, and is in a very strategic
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