December 2, 1897.j
CHINA OVERLAND TRADE REPORT.
417
The
plished facts and proceed to set her house, and render it less of an eyesore. in order so as to avoid similar severe lessons Hongkong and Shanghai Bank deserves in the future. Anti-foreign outrages must the thanks of the public for the manner in cense, or other Powers will follow Ger- which the Bank's lots on the Reclamation many's example and exact prompt reparation | have been dealt with, and we would be** in the form of territorial concessions for the glad to see the Government follow its ex- ample as soon as possible. The ground in murder of their subjects.
question is intended as the site for the new If the Public Offices, but we fear it will be some years before building commences. land cannot at once be utilised for the pur- pose for which it is intended the best thing that could be done with it would be to turf it over and lay it out as ornamental grounds. It would be intolerable that it should con- tinue to be used indefinitely as a storeyard for the Public Works Department.
MIKS BAY AND THE EX¡ENSION OF LONGKONG'S BOUNDARIES.
"metal of the mainland. And what ap- plies to Siam in this sense also applies to Cochin-China and China. The change "would operate most unfavourably to the "Straits even if that colony could hear "the strain of the heavy charge for the "change." The effect predicted on the rice trade between Bangkok and Singapore is contrary alike to common sense and to ex- perience. Whether a gold standard is pre- judicial to a country's export trade is a question on which financial authorities are divided in opinion, but we have never before seen it suggested that imports from silver countries were prejudicially affected by the fact of gold being the standard of the importing country.
Ap- parently our Bangkok contemporary imagines that the importer of rice in the Straits would have to pay as many dollars in gold as he would have had to pay in silver had the white metal continued the standard, whereas what he would do would be to buy say a hundred and five or a hundred and ten silver dollars with his hundred gold dollars and pay for the rice in silver, supposing silver to continue the standard in Siam. As to the cost. of living, another matter to which our contemporary refers, experience shows that whe:cas the cust of living has increased in silver countries it has declined in gold countries. There is no reason to suppose the same experience would not be repeated in the Straits. Our Singa- pore friends need not be at all alarmed as close to our borders petty annoyances arising de Castro D'Almada watched the case on be-
The
to the effect of the gold standard on their trade with Siam. It would stimulate rather than discourage the import trade. Committee of the Singapore Chamber of Commerce that recently considered the question were also of opinion that the change would not be unfavourable to the export trade, but even if the contrary were the case it would not materially affect the trade with Siam, for there is but little Straits produce shipped to Bangkok. Nor would the trade in European goods shipped from Singapore to Siam be affected, for prices in that trade have in any case to be settled according to the exchange of the day and Singapore's being on a gold basis would
make no difference.
PREPARING FOR EMERGENCIES.
SUPREME COURT.
25th November.
In LI HUNG-CHANG's memorial on 'naval and military reform in China, a translation of which has been published by a German paper, it is suggested that for the accom- modation of Chinn's future navy three forti- fied ports should be established. The places suggested for this purpose are Kiaochau Bay in the north, Namkwan in the centre, and Mirs Bay in the south. Kiaochau Bay has now been occupied by Germany and is there- fore out of the question, and as to Mirs Bay, England should have something to say to that. The rectification of this colony's fron- tier, which is daily becoming more fully re- cognised as essential, should include Mirs Bay on the one sile and Deep Bay on the other. The suggestion that "China should establish a great naval station in the first-named Bay brings the matter more closely home to us and exemplifies the
Mr. Thomson (of Messrs Deacon and Hast- danger of the present position. It is not a Chinese naval station itself that is to beings' office) represented the principal creditors, Messrs Jardine, Matheson & Co., who are the feared so much as what it might lead to. With the Chinese established in force so agents for the Imperial Bank of Persia. Mr.
from disputed jurisdiction and accidental conflicts might be anticipated, but the real danger is that on the first difference of opinion between China and one of the great Powers Mirs Bay, whether fortified or not, might be seized in the same way that Kino, chau Bay has been by Germany, and we might have as our immediate neighbour a Power that might possibly prove actively unfriendly and would almost certainly
prove
a rival both politically and commer- cially. No effort ought to be spared to avert such a contingency. It is a thousand pities the opportunity was lost when England had a good claim for reparation in respect and other of the Kucheng massacre outrages perpetrated on British subjects. At that time the desired territory might have been taken as a right, for England would have been justified in imposing her own terms. It may perhaps be necessary now to proceed by way of purchase or lease, but however the result may be arrived at it is important that Mirs Bay and the adjacet territory should be brought under British
control. While it remains in Chinese hands it constitutes a. potential danger to the safety of Hongkong in consequence of its liability to seizure by a foreign Power. IMPROVEMENTS WANTED ON THE
The fact that the Viceroy at Canton has been instructed from Peking, in consequence of Germany's seizure of Kiaochau Bày, to hold a council of the high officers of the province to devise means for strengthening the forts and to prepare for all emergencies, would seem to indicate that China is not pre- pared at once to acquiesce in the seizure and anticipates that her opposition may lead to reprisals, Presumably similar instructions to those received at Canton have been issued to all the maritime provinces. The chances,
PRAYA RECLAMATION. however, we should say, are against any ac-
ur correspondent tual fighting taking place. Germany, we The suggestionmade l take it, will not wish to send out a large "Improvement" that the Government land military expedition to China, but will be on the Reclamation fronting the City Hall content with Kiaochau Bay. China on her should as soon as possible be cleared of the part will hesitate to make any attempt workshops now standing upon it and be to turn the intruders out, her present fleet turfed over will be cordially endorsed by a being wholly inadequate to effect any such large section of the community. The land operation. If, however, she should be ill-in question is at present in a very unsightly It is being utilised for the advised enough to try it, the results would be disastrous to herself. Germany, while not making of concrete blocks for the sea wall anxious to go to war, has assuredly not and apparently also as a general lumber taken the step she bas at Kiaochau without yard. ́ ́We should think it might be possible having carefully counted the cost and being to find another site for the manufacture of ready for all eventualities, and if necessary the concrete blocks, but if the reasons in she will no doubt be prepared to send out favour of retaining the present site for that a force of sufficient strength to march on purpose are too strong to be set aside some- Peking and take satisfaction there. China's thing might at least be done to bring best policy will be to accept accom- the ground into a more orderly condition
|
condition.
IN BANKRUPTCY
BEFORE SIR JOHN CARRINGton (Chier JUSTICE).
RE A. M. A. SHIRAZEE, EXPARTE THE DEBTÓR, Aga Mahomed Alley Shirazee, the debtor, came up for his public examination.
He
half of the debtor. and Mr. Bruce Shepherd (Official Receiver) conducted the examination.
The debtor, who spoke Hindustani, said he had resided in Hongkong nineteen years. started business on his own account as an opium dealer and general commission agent eight years ago with a capital of $8,000, his own money.
Up to three years ago his profits were from $2,500 to $3,000 a year, but during the last three years he had lost money in his dealings in opium and cotton. His pria- cipal creditors were the Imperial Bank of
Persia, who were the holders of two drafts which
he could not meet. He signed the drafts so that a certain quantity of opium might be sent to him, but the opiumu never came.
The drafts were for $7,000 altogether, one being for $3,000 and the other for $4,000.
The Official Receiver said that a man named Carreem, of Ispahan, Persia, had received the money, and endeavours to find him had proved futile.
The debtor, continuing, said the Bank, being unable to recover the money from Carreem, sued witness, and he lost the day. He was unable to pay the money and so he had to enter the bankruptcy court. Witness then entered into and said that his brother in Persia owed him
a detailed statement of his business transactions
over $13,000, which he had no doubt would be paid.
The examination was concluded,
26th November.
IN ORIGINAL JURISDICTION.
BEFORE SIR JOHN CARRINGTON (CHIEF JUSTICE.)
TSANG YEE MUI V. TAM CHAK U, ALIAS TAM CHUN,
The plaintiff, who is a widow residing in aside an agreement charging certain property Yuen Shing Lane, Hongkong, sought to set as security to the defendant, who was described as a money lender residing at 36, Hollywood Road.
Mr. J. J. Francis, Q.C. (instructed by Mr. Gedge, of Messrs. Johnson, Stokes, and Master), appeared for the plaintiff and Mr. M. W. Slade (instructed by Mr. C. D. Wilkinson) for the
defendant.
Before the case was opened His Lordship asked if counsel had considered whether the matter in controversy in this suit was really a question of law.