THE HONGKONG WEEKLY PRESS AND
of State praying that a Royal Commission | Canton, who has repeatedly shown himself both be appointed to report on the matter. determined and able to protect our interests. "The question being of such universal (Applause.) The Chairman has referred to Importance - it was dealt with
Com-the new Admiralty | Dock, and I trust that the petition so extensively signed will load to the present site being available for the expansion of the City so much needed. With these remarks I beg to second the adoption of the report and accounts. (Applause.)
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mittee drawn from all sections of the community, but as it is so closely related to the business progress of our town it appears to me fiting that, we hope full enquiry will be held later on this meeting of the Chamber of Commerce as such, should endorse the movement having in view a re- There were no other remarks, and the motion moval of the Dock to another site. (Apwa put to the meeting and e rried unanimously, plause.) I take that, gentlemen, to mean that the Chamber does endorse the peti- tion, and I will ask the gentlemen of the Press to make a note of the fact. The proposed compulsory adoption of the official vocabulary for telegraphic us has again been before your Committee As you are no doubt aware the new vocabulary has been much enlarged and now contains over one million words. Recently a communication has been received from the New York Chamber of Com merce asking our assistance in supporting their protest against the compulsory adoption of this vocabulary The Committee following in the
The next business was the adoption of the new rules circulated some thee weeks ago.
In reference to these, the CHAIRM N said they had been very carefully drawn up and did not involve any very considerable changes. Their principal provision was with regard to the election of a representative of the Chamber to the L gislative Conucil.
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and said be had the more pleasure in doing so Mr. R. C. WILCOX seconded the proposi ion, that he had been one of the Sub-Committee engaged in compiling the new rules They were very much needed, because the original rules had not been revired since the Chamber was that had since arisen.
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May 23, 1903.
THE STRAITS CURRENCY.
REPORT OF COMMITTEE.
GOLD STANDARD RECOMMENDED. The Report, Minutes of Evidence, and Eppendices of the Straits Settlements Currency Committee (Sir David Barbour, Moesrs. Adam- son, Johnson, and Blain) is now published. It is dated March, 194-3, and was originally issued * Confidential--printed for the use of the Colonial Office."
The report extends to 16 pp, and from it we extract the following as the more immediately important parts:---
1
The Committee were asked to make a report with reference to---
"(1) The expediency or otherwise of in. troducing a gold standard of currency in the Straits Settlements and the neighbouring Malay Slates;
}
*(2) The practicability of making the change and the steps which in the opinion of the Committee should be taken to effect this
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steps of their predecessors, are udanimous in founded, and did not cover many circumstances object if the change should be decided on ¿
endorsing this protest, and last week therefore a telegram was despatched to the London Chamber of Commerce asking them to request the Post Office Officials to place our protest before the International Meeting of the Celegraph Com- panies which we understand is to be held in Lon ton on the 28th May. From an examina tion of this proposed vocabulary it would appear that if forced upon ns many, possibly most of the telegraph codes now in use throughout the world will have to be largely revised and in most cases reprinted. We con- sider that the advantages which the adoption of this vocabulary offer does not justify the trouble and enormous expense which would be entailed on business firms all over, the world were the use of this code made compulsory. I have only one other point to refer to. We have fecently had brought home to us is forcible manner that Great Britain and her Colonies are an entity and that we, as far distant out post of that Empire under whose flag we dwell in safety, are closely bound up with the well- ́being not only of the mother country but of our brother Colonists throughout the world. The Committee has recently been asked by the Government whether we approve of the 24th May being fixed as public holiday to be ob erved as Empire Day throughout the British Dominions. (Applause.) I feel sure the members of this Chamber will readily endorse the decision of the Committee in ngresing to this proposal. It is not only fitting that this holiday should be observed in part as a memorial of that gracions Sovereign who
The motion was carried unanimously. revised sale of commission on brokerages The CHAIRMAN next proposed that the be adopted. This also had been cironlated to members, who would of course understand that the proposed scale was the maximum.
been made, Mr. A. SHELTON HOOPER seconded When one or two slight amendments had
the proposal, remarking that they had it on the authority of a former Chief Jutica of Hongkong that St. John's Cathedral repre- sented the only freehold in the Colony; all others were leasehold.
he scale as amended was adopted and passed. of a Secretary.
The meeting then proceeded to the election
The CHAIRMAN said Mr. Lowe had been appointed to the office on the resignation of Mr. Wilcox, and had carried on the work with entire satisfaction. (Applause.) He had great pleasury in moving that the appointment of Mr. Lowe be confirmed.
Mr. G. STEWART seconded, and the motion was carried nem, con.
On the proposal of the CHAIRMAN, seconded by Mr. J. E. MICHAEL, the admission to memberhip of a number of local firms was confirmed.
The concluding item of business was the election of a Committee and Mr. J. R. Lawr, proposed that the existing one be re-elected.
Mr. A. J. RAYMOND seconded, and the motion was agreed to without opposition.
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The CHAIEMAN-That is all the business,
2. The letter proceeded to r gard to the expediency of the change Mr.
not feel themselves in a position to offer final Chamberlain realises that the Committee may advice on the subject, but in that case he trusts that they will be able to indicate the lines on which für her investigation should bẻ made locally before a final decision is come to." COUNTRIES FALLING WITHIN THE '800PE
OF THE COMMITTER'S ENQUIRY. ·
the scope of their enquiry includes the Fede
3. The Committee apprehend that in addi. tion to the Colony of the Straits Settlements, rated Malay States of Perak, Selangor, Neigri Sembilan and Pabang, and also the State of Johore. In the opinion of the Committee, it is desirable that the standard of value and the currency of the Straits Settlements and the Federated Malay States should continue to be identical, and they hold the same opinion with regard to Johore.
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4. There already exists in Agreement be- tween the Secretary of State for the Colonies and the Sultan of Johore, regarding the supply of the subsidiary coins of the Straits Settle- ments for use in Johore, but altogether apart from the Agreement the Committee consider that Johore should, on general grounds, be included in any scheme that may be decided on for the Straits Settlements and the Federated Malay States, and this is in accordance with opinion of the Representative of the Sultan and Government of Johore in this country, who appeared as a witness before the Committee.
*. The Committee have learnt that Sarawak
for so many years ruled over us and who gentlemen. I am much obliged to you for your is anxious to join in su h a scheme, but they
spent her best endeavour in promoting the well being and happiness, not only of her own people but of all mankind, but also that by this yearly celebration of "
"Empire Day" the children of the Colony should thus learn from their earliest days the great lesson that they are citizens of the British Empire and have part and parcel in her joys and sorrows. (Applause )_____|||
In seconding the| motion, MẾ G, H. MEDHURST said Gentlemen. I congratulate the Committes on the very satisfactory results of their labours during the past twelve months, and if their efforts on every "docasion have not been attended with success still very much good work has beon accomplished, I regret the T'elegraph Companies have not seen their way to lower their tariff rates to Europe, and hope that the representations made by the Chamber with regard to the compulsory adop. tion of the proposed official vocabulary will have the desired effect, as otherwise the cost to all busiz.css arms will be enormous, if they have to revise and reprint their codes. I venture to expres the hope that the negotin. tions now being carried on by the various Treaty Powers may ultimately result in a series of new Treaties; based more or less on the lines of the Mackay Shanghai Treaty as such cannot but result in a large increase in the trade with Chine, benefiting * *all concorned. We are indeed fortunate in having 's' Minister at Peking who is so ko nly alive to the importance of seeing that our treaties are not violated by the local Chinese anthorities, and are doubly fortunate in our present Consul General at
attendance and for the unanimous manner in which you have re-elected us to look after your interests during the coming year.
The meeting thereupon dispers.d.
SIBERIAN RAILWAY PROJECTS.
do not consider that any Colonies or States the scope of their enquiry. other than those already specified fall withia
ACTUAL CIRCULATION.
22. The actual circulation of the Straits Settements, the Federated Malay States and Johore at the present time is composed of—
I. British, Mexican and Hongkong dollars.—- The amount of Hongkong dollars still in The Russian railway authorities are turning circulation is so small that it may be neglected. their attention to projects for constructing a It is impossible to form a reliable estimate of series of "feeding" lin s to run southwards the number of British and Mexican dollars from the Siberian Railway down to the frontiers circulating in the Fett'sments, the Malay States of China. Thus, this second period of railway and Johore, but the Colonial Treasurer roughly construction in Siberis is about to be entered estimates the number at 30,000,000 ~ dollars. upon very much sooner than was proposed This total, which is only put forward as a guess, origiually, for early in the spring the surveys includes the specie reserve against the Govern- for the first of these branch lines will be made, ment Note Teup and cash in the bank, The Russian Government intends to build a | II. Subsidiary Silver Coins-The amount railway from the station of Palomoshnaya to issued since 1871 Is 7,212,000 dollars (nominal). the town of Barnaul, an important mining and It is estimated by the U. lonial Treasurer that smelting centre on the Ob', in Western · iberis, | of this amonnt 500,000 dollars is in Foreign and 290 miles B.S.W of Tomsk. The line Countries. from Barnaul will be of great dommercial im-ILI. Subsidiary Copper Coins—The amount |portance, and it will run from that place to issued since 1871 is 1,857,500 dollars (nominal).
Biisk, and along the course of the Katana, up 1V. Government Note Issue. The amount to the Chinese frontier, whence it can be in circulation on the 10th of December, 1902, was extended, by way of Kobdo and Ulassutai, into 13,393,440 dollars. Against this, 8,714,555 75 the interior of China, and ul-imately have its dollars was held in coin on the same date. terminus in Peking. It is said that this rai!- way will not be carried out with undue haste, and that, in fact, ten years will be occupied in carrying out the scheme. Still, a start will be' made this year in constructing the Barnaul Railway and its branch line to Tashkend, and its eastern branch line to the Chinese frontier.
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V Bank Notes-The average monthly circulation in 1901 was 5,473,755 dollars. The figure for 1902 is not yet available.
SAS-HISTORY OF THE QUESTION, A The Report recapitulates the history of the consideration of a gold stand for the StraitsTM Settlements dating from the year 1893,