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THE HONGKONG WEEKLY PRESS AND
ian line for a term of years. A proviso to the treaty secures, it is true, to China the right to take over the railways eventually; but in ten years much may happen. Mr. DETRING is clearly of opinion that by con- tracting a loan with Belgium, the Chinese Government have only complicated matters and rendered their position more desperate. He says, after pointing out that Belgium is not a likely country to lend a large sum of The French really are the mas- money:- "ters in this business, and the Russians help them, and so SHENG has been able "to arrange his loan with Belgium. This "matter is now settled, but China's_danger "is ever present. For instance, the Russian "railway is to communicate with Manchuria, "and French railways will connect with Lungchow. France has had her eye on "Hankow for many years. The North and "South are very distant, but they are opposite "each other. Their object is to obtain the "central portion of China. At present the 'money and name are Belgian, but really "it is France and Russia who are assisting "in its completion. These two countries now possess all the advantages of this plan and leave China only one chance. “When the tine arrives and they see China 'occupied elsewhere, then will be their oportunity." There is a good deal of truth in these suggestions, though possibly France may be credited with greater ambitions than she really entertains. Still it is well for China to be on the alert instead of drifting towards difficulties which may end in her dismemberment. If the Chinese Govern- ment are relying on the jealousies of the Powers to continnie the status quo in spite of financial embarrassments and breaches of treaty innumerable they may discover, when too late, that they have been trusting to a rope of sand. The jealousies of the different Powers have no doubt so far prevented any of them developing a taste for territorial aggrandisement at China's expense, but it does not follow that this cause will endure. If mandarin misrule becomes too gross, and the infractions of the treaties too incessant, it is quite within the bounds of probability that the Powers, for, the protection of their own interests, yearly increasing in the Central Kingdom, may compose their dif ferences and agree to divide and rule. If there is no security under Chinese rule, why should the Powers go on propping up an effete administration when they can readily Let the govern the country themselves?
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Tsung-li Yamen therefore take note. there is no patriotism in Peking, and if all power is to be centred in such a man as SHENG, then indeed Mr. DETRING'S comparison that China is in the position of one drowning bas force. There is no reason why she should expect a saviour to appear from outside if none of her own sons has sufficient patriotism to go to the rescue. The real danger to China lies within her own borders, in the corruption and lethargy of her own ad- ministrators.
A German mining engineer is reported to have found a rich mineral deposit at a place called Paimiao (White Temple) in Tientsin prefecture, and has succeeded in interesting the gentry and people of the place to purchase machinery for developing the mine. But what kind of a mineral the mine in question contains rumour sayeth not, but at any rate, the engineer has been commissioned to buy the necessary machinery from Germany and he is proceeding personally to Europe for that purpose. Much secrecy appears to be observed in connection "with the enterprise at present, but from in- dications there is no doubt that a large sum of money has been subscribed for developing the property.-N. C. Daily News.
LEKIN AND THE SECURITY FOR THE JAMESON-HOOLEY LOẦN,
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Telegraphing on the 16th August with reference to the HOOLEY-JAMESON loan, the Shanghai correspondent of the Times says: Regarding the right of foreign control "of the lekin the preliminary agreement " contains nothing definite, the matter being "the subject of separate negotiations. "SHENG's offer amounts to a permission to "the syndicate to appoint a controller to supervise the audit of the lekin receipts "at the Imperial Bank-an utterly valueless "control. If the loan is advanced on the security of the lekin without administra- "tive control, the results will be prejudicial "to trading interests, because it will entail an increase in provincial exactions. The "Chinese Government is using every en- "deavour to avoid such control. The com- petition of the syndicates is so keen that they may be indifferent on this point and "thus give the Chinese the opportunity they desire." It would be indeed disas- trous if the lekin revenues were accepted as security for any foreign loan to China unless the collection were placed under foreign control, for it would simply mean that attempts would be made to impose extra squeezes to meet the charges for Under foreign control the the loan. lekin revenue could be vastly increased without any raising of the duty, but under corrupt native control the latter is the only means by which the extra amount required could be made good, and it is doubtful how far even that course would be successful, for the squezes are already so oppressive that the trade could not For their own sake stand much more. it is to be hoped those who may accom- modate China with a loan will insist upon foreign control of the lekin collectorate, and still more is that course to be hoped for in the interests of foreign trade, which would speedily show large expansion were the charges upon foreign goods col- lected in an honest and uniform manner, so that traders might know exactly what they would have to pay and be able to make their calculations accordingly.
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In an article on Chinese Railways and Finance, which appeared a few days before the telegram above referred to, the Times, discussing the security for a loan, said :--- "The revenue is, of course, capable of "indefinite extension, but extension must "take place along the line of least re- sistance, and this, there can be little doubt, will be found in placing the "native Customs the treaty ports "under the control of the Imperial "Customs. Other schemes suggested, such as the collection of the land tax or "of the salt gabelle or the rearrange- "ment of the likiu, are scarcely practicable "unless the Government can be regarded as strong enough to face a revolution. But "in the case of the native Customs the "fewest vested interests will be interfered with, the direction can be most easily con- trolled, and there is already a precedent "in the case of the two ports Kowloon and Lappa, where for some years past the "native Customs and other duties have been collected for the Viceroy at Canton by the Imperial Maritime Customs. The regime "thus introduced has worked smoothly, bas given satisfaction to the merchants, and "has improved trade. Duties are fixed in amount and collected according to a known "tariff received from the Hoppo at Canton. Now, in these two stations worked, under foreign control during 1896 a revenue was “collected of 989,500 taels. In all other
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[September 23, 1897.
"native Customs stations on the coast of "China, where the gigantic trade carried "in native bottoms was handled, the re-
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venue returned to the Government in the same time was 1,000,000 taels, a revenue "which under similar foreign administra "tion could be increased fifty-fold." It would of course be an excellent thing if the Native Customs were placed under foreign control, especially for China her- self, but its effect on foreign trade would be insignificant as compared with that of foreign control over the lekin collection. Kowloon, Lappa, and Canton are the only ports where the Chinese Customs have to take cognizance of any considerable amount of foreign trade carried in Chinese bottoms. Elsewhere the trade carried by junks is almost exclusively a coasting trade, the goods being conveyed simply from one Chinese port to another, and such of the goods as are of foreign origin have already paid It import duty at the treaty ports. is true that there is some little trade from Hongkong to other ports than Lappa carried Canton, Kowloon, and on by native craft, but it would not aggre- gate anything like the amount passing those stations. Important, therefore, as foreign control over the Native Customs may be, it is nothing like so important as the control of the lekin collection would be, for goods are never completely safe from lekin until they have actually entered into consump tion. If the syndicate making the new loan- to China secures foreign control over the collection of lekin the advantages resulting to China and her foreign trade will be immense.
BRITISH TRADE WITH RUSSIA
AND SIBERIA,
We recently referred to the desirability of appointing a British Consul to Vladivos tock in order that British trade might be kept officially informed of the remarkable development of Siberia now in progress. From the other side of Russia comes a Consular complaint of the apathy and in- difference of British merchants in pushing trade in that country. We refer to the report of Her Majesty's Consul at Warsaw, a sum- mary of which may be found in the Board of Trade Journal received by the last mail. The report in its summarised form is well worth reproduction:-
"H.M.Consul at Warsaw, in a despatch to the Foreign Office, dated July 22nd last, reports the opening at Warsaw of a new factory for the enamelling of iron goods for household use, the director being a Belgian, the maunger a Frenchman. The capital of the company is £75,000 in 6,000 shares of £12 10s. each; these have been subscribed in Belgium. There are also being started in the district of Warsaw at the present time the first electrical works, with a capital of £200,000, most of which is in German hands, the technical engineer being also a German. One of the largest German firms of aniline dyers has just obtained a concession for operating in Russia. New cotton works, with a capital of £200,000, have just been started at Lodz, the centre of the cotton and wool industry in the Warsaw district. The capital is divided into 4,000 shares of £50 each, which have been taken up by Ger- mans already. At Lowicz, chemical works have been started by Belgians, with a capital of £60,000 in shares of £25 each, five out of the seven managers being either Belgiaus or Frenchmen. Belgians, French, and Germans have, the Consul states, almost a monopoly of commercial enterprise in Rus- sia. There would appear to be no difficulty
TAN.