CO129-625-6 Hong Kong University- endowment fund 1-5-1951 - 30-9-1951 — Page 4

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there is a reduction in trade now but the Endowment Fund proposal was made as early as April, 1950, and trade figures were breaking all records until recently, I myself am extremely doubtful whether the Treasury will agree to any further contribution to the Uni- versity and I think the most we can do on Monday is to impress this on Sir A. Morse, Mr. Chau and Sir M.L. Lo and ask them to suggest some way of raising all the money in Hong Kong. One way would be to increase the Government grant and to put up the rate of taxation if that becomes necessary. We could point out that any money from H.M.G. would have to come from the already highly taxed U.K. taxpayer and while the Hong Kong rate of taxation is so very much lower it is very difficult to justify grants of this kind from H.M.G. funds.

Seitt hense has taliphoned

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A.

bethemete

for

Mr Hall;

way that he willerne on hunday, will menhin lihim kho WIN.Ehren Where he sees them today my

Them sins home that theyeam

13/7

Hollall

12. 7. 51.

Mr. Paskin.

I agree generally with the conclusion reached in the above minute, but I should not see any strong objection to X if the Jockey Club authorities can be persuaded to play. Not only has the Jackey Club in Hong Kong devoted considerable money to charity in the past, but Colonel Yeldham confirms my impression that the Jockey Club in Mauritius has done the same, and I cannot find anything more objectionable in a university being the recipient of such assistance than a charity receiving

it.

I see, in point of fact, that in Malaya there is a special Lotteries Ordinance, No.9 of 1950, which provides for the promotion of public lotteries for the purpose of raising funds in aid of any

educational organisation, institution, body or service "

"

abut ther

I have had a talk with Mr. Bourdillon His view is that there is not the faintest chance of getting any further grant out of H.M.G. If any further assistance were to be provided it would have to be from central C.D. & W. grant, and I gather that the chances of getting such assistance from that source are remote.

We shall, no doubt, be subject to serious criticism from the Inter-University Council if the Hong Kong University has to be told to reduce t expenditure drastically (see paragraph 7 of No. (3)), I think that at Monday's meeting I shall have to support the view that the prospects of a further contribution from H.M.G. are virtually nil.

201

13.7.1951.

Sinc. Jeffres

I can only agree.

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