“The fact that previous generations have handed down to us a substantial public heritage by way of roads, port, etc. almost completely free of debt, seems to me to impose some limitation on the validity of the theory that by borrowing we should, or could, pass on the burden of development to the next generation.”

—  John James Cowperthwaite

February 28, 1962, page 55.
Official Report of Proceedings of the Hong Kong Legislative Council

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John James Cowperthwaite38
British colonial administrator 1915–2006

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