(s,""8,500,000) "and a -debinite offer to sell at this figure has been submitted to the" Council, 'This, "in my opinion, isa reason able' price, and is under the market Duce that has recently been obtain-4 for land adjacent: to this' property. T have to state further that fo. person, directly or indirectly, will! receive any brokerage, com: mission, or selling fee in conneetion with this transaction,—which would be a direct one between the Shanghai "Municipal Council" and the present Owners of the property.
Now, in regard to the criticisms and' objections that have " been advanced, I would like to say right! away that if the northern and eastern districts have become seri ously congested, I would be " the first to advocate open spaces. being secured, if and when they ate avail-fable, but the very fact that' these districts have become so. seriously congested is in itself an argument that-open spaces should have been provided: there some time ago, and {sa further argument in favour of Pree becoming sit and venting the Bubbling Well
congested. in the same way. After fall, not only is prevention better: than cure, it is also much cheaper.
Alto, it must be remembered, that it! is proposed that the Majestic shall be something more than just a Park and Public Garden, in That "it will also contain some Givie Buildings, "such as Town Halk Concert Hal, ete, which it is sly "suggested. could any "Bark. in the northern or eastern districts Furthermore, the securing of the Majestic Site forthe community does hot preclude. the provision of a°Park inthe novthero'or easter istrict, but the. essential "point Feapecting the Majestic Site is that Feast be secured nov, or not at all, Hn: regard to finance, T understand "that the present Owners of The'property would be. willing accept. Teix per cent, debentures in payment for" same, \%0. that no Public issue of debentures, with Ensuing costs would be. necessary. Shanghai probably has. the small. St public debt of any ety. of its fize'im the world, and a city which fas nota reasonable. pablic "debt at doing its job, in'that Seis dor roving the omen with ace civie amenities to which #38 rightfully entitled, and is not using itg credit for the benefit' of its citizens.
stay, there is only one more iricism with which T have to deal, Jand that is the question asked by a Mr, R. M. Saker as to what is the under-lying motive of this proposal. If this is an inference rather: than question, then it is insulting and beneath contempt. I prefer to treat it as a serious question and to say that under-lying this proposal the faint hope that Shanghai may jerow into a city realizing its obligations to the community, stead of growing ferowded industrial town controlled purely utilitarian interests, and further sincere hope that' the Ratepayers, or a majority of them, may have Sufficient vision to ask, themselves this question, "Supposing We adopt this idea and secure this wonderful site for all time for the community—will we, in ten years' time, be glad, oF be will Ernest FP, Hanius
Text read from the printed page and cleaned; old type leaves the occasional error.