May 6, 1699:11
(Daily Press, 5th May.) ! The partition of China has been deferred for a while. Great Britain and Russia, instead of dividing the country between them, have agreed to uphold its integrity and in- dependence. What that really means, we take it, is a dual control, or perhaps we should say joint control, for other Powers will no doubt claim to exercise a voice in the matter. The system of joint control does not as a rule work very smoothly. In the case of Egypt it caused a good deal of friction between France and England; in Samoa a dispute is now in progress be- tween England, Germany, and the United States; and it was over Korea that China and Japan came to blows. Let us hope that in the case of China joint control may have a happier issue, That there must be foreign control, either joint or otherwise, we take for granted, although that may seem to some extent negatived by the fact that not only the integrity, but also the independence of the country is to be guaranteed. The in- dependence, however, will, we take it, be more nominal than real, foreign control being exercised through Advisers at Peking and probably also in the various provinces. To guarantee the independence and integrity of China without taking precautions to ensure her good behaviour, would be equivalent to putting a premium on murder and treachery, for if China felt herself pro- tected from the natural consequences of her actions foreign life and property would enjoy little security in her dominions. The re- cently concluded agreement between Ger. many and England is also understood to have had reference to China and the agree ment now come to with Russia will presum- ably be in accordance therewith. France also may be brought into the concert. Each of these Powers would naturally take pre- cautions for the safety of the lives and pro- perty of its own nationals and collectively they may be expected to throw their pro- tection over foreign interests in general. Before attempting to discuss the agreement in detail we must wait for fuller in- formation as to its exact terms, but it would seem that the policy of spheres of influence has now been formally endorsed by treaty, and that, too, without any sacrifice, as we hope, of the principle that equal trading privileges shall be enjoyed in each and every sphere by all comers. We may assume, too, that in the respective spheres of influence the influence exerted will be of an active order and will lead to the steady opening up of the country and the improve
ment of its administration.
THE CHINESE NAVY. ́
(Daily Press, 1st May.)
Our Tientsin correspondent, in a letter which appeared in Saturday's issue, pointed out that with the arrival in June of the two new Elswick cruisers and the four Elbing destroyers China will again have some naval potency, provided she can find the personnel. Of this there is some doubt, as most of
the
CHINA OVERLANDĮ TRADE REPORT, [
363
sonnel without which neither the one measure into all official and commercial de- force nor the other can afford any real partments it will naturally follow that the protection. Indeed, ships inefficiently dollar will speedily become the chief medium officered and manned and which for that of exchange, and that the supply of coppor reason cannot be expected to exhibit fight- | cash, when relegated to use in petty trans- ing qualities of any moment, are calculated actions only, will soon become sufficient for to prove a source of weakness rather than requirements. As an example of beneficial of strength, inasmuch as they constitute a results following legislation in the direction vulnerable point for attack and offer rich indicated, the Chamber cite the case of prizes for capture. Still, if China wishes to Kirin and Fengtion, where after the war continue to hold a place amongst the nations, with Japan the people suffered great loss she cannot well do without a navy. Though, and inconvenience from the scarcity of cop- as pointed out by Lord CHARLES BERES per cash. The Tartar General established FOED, she stands in urgent need of an
a mint for the coinage of silver money and efficient army, a navy also is essential, for by proclamation fixed the value of the dol- without it she leaves the sea open to her lar at 1,100 large cash, at which exchange enemies, and would be in a position of marked it stands to-day. In view of the large per- inferiority however good her army might centage of spurious cash now in circulation, be. The recent occupation of various points entailing great hardship upon the poor on the Chinese coast by different Powers people, who have no alternative but to might possibly not have taken place if there accept as much as 30 per cent. of such base had been a Chinese navy worthy of the money from the cash shops, the Chamber name in existence, and if opposition of that also ventures to suggest the desirability of kind were to be feared demands on the part making the private mintage of cash illegal, of the smaller European Powers for terri-and that cash officially minted as tokens be torial concessions would not be spoken of as ot a uniform standard, both as regards com they now are. Writing on this subject position and weight. three years ago we remarked that "China's ability to resist aggression either ashore or "afloat is at present small and is likely to "remain so, though she purchase many bat- tleships and organise large battalions, her "chief weakness lying in the dishonesty "that characterises every department of her "administration; but if she makes any seri. ous attempt to render herself capable "of defence it seems to us that a navy is as important to her as an ariny." The events that have transpired since that time seem to support the view then expressed.
CHINESE
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THE
CURRENCY.
11
(Daily Press, 3rd May.) The increasing dearness of copper has already made itself very inconveniently felt in the Chinese currency, and under the influence of the " corner in the metal recently advised by Reuter the inconveni- ence will become still greater. The adverse effects upon trade of the disturbance in the currency is shown in a memorial recently addressed by the Tientsin Chamber of Commerce to the Viceroy of Chibli on the subject. The memorial states that the ex- port trade of the port is being seriously hampered by the high value of cash, the purchase of products being almost entirely made through that medium. To prove that the evil from which relief is sought has been steadily growing and is not to be in any way regarded as a transient one a table is given showing the exchange value of cash for the last eight years. In the 18th year of H.I.M. KWANG SU a tael exchanged for 3,100 small cash; in the 19th year, for 3,000; in the 20th, for 2,980; in the 21st, for 2,800; in the 22nd, for 2,700; in the 23rd, for 2,600; and in the 24th, for 2,400; while to-day a tael is worth only 2,080 small cash. The remedial measures pro- posed are the following:-(1) The establish- ment by proclamation of the silver dollar and its subsidiary silver coins down to 10 cents as legal tender at the exchange of 1,000 large cash per dollar; (2) That all lekin and other official tax collectors throughout the province of Chihli be in- structed to accept the silver dollar and its subsidiary coins in payment of all sums ex- ceeding 100 large cash; (3) That the use
While wishing the Tientsin Chamber all success in its local effort to place the cur that it would have been well if the co-opera- rency on a sounder basis we would suggest tion of the Chambers at the other Treaty Ports had been solicited with a view to making
representations to the Chinese Government as to the necessity of a national and uniform
system of currency, for which the time seems ripening. The foreign Ministers at Peking would no doubt willingly give their support to any such representations, and should the Chinese Government not be prepared to uct upon the representations the corres- pondence would at least have an educat- ing tendency and pave the way for action in the future. It is not alto-
1
gether improbable, however, that the Government might be found willing to en- tertain proposals made to it on this subject, for with the growing importance of the financial relations of China with foreign countries the inconvenience of the present primitive currency must make itself in- creasingly felt. The proposal of the Tient- sin Chamber of Commerce is in effect that silver shoull be marle the standard of value. and that copper cash should be employed only in petty transactions of under ten cents in value. The prosposal, however, would really entail the withdrawal of the present copper cash from circulation altogether, for the people would not give cash of a metallic value of twelve cents in payment of a debt of nine cents. The difficulty might be met by the coinage of cash of smaller intrinsic value which should be legal tender for a limited amount only, as in. Hongkong, where the cash is legal tender only up to $1. Leaving details aside, however, the point of importance is that copper has ceased to be a satisfactory standard of value for China, even for the retail trade, and that a change is desirable. The opinion of the ninjority of the foreign merchants would no doubt be in favour of the adoption of a silver standard, but as China has contracted a large gold indebtedness against whịch she has pledged her customis revenue it would scarcely be unreasonable on her part if she desired to collect her duties in gold.
crews and junior officers were utterly neglected after the capture of Weihaiwei and lapsed back into civil life. Our cor- respondent adds that he personally knows a few of the ex-officers, and that the utter hopelessness of promotion by merit or seniority disgusted them with the service, and in no case are they desirous to return. Here China's weak spot is touched. If money could ensure an efficient army and of copper cash on the Imperial Chinese Commerce, a correspondent of that journal saya?
nayy China would have little difficulty in providing herself with both, but while the whole system of administration continues corrupt she cannot secure an honest per
Railways, either for payment of passenger fares or freights, be entirely abolished in favour of dollars and cents. It is urged that by the introduction of this
Referring to the suggestion of the Singapore Free Press for a separate British Chamber the suggestion is not likely to receive much support, because his experience is that British firms are more jealous of each other than of foreign competition.