via Avn an
March 20-1005.].
.7.
CHINA OVERLAND TRADE REPORT.
KOWLOON CANTON RAILWAY.
cause of semi-humorous despair. It would certainly be worth trying, and the longer -- that such united efforts are put off, the:- greater and nore formidable will the difficulties become.
Already the Chinese prejudice against foreign capital- in such “ connections is growing more pronounced, for reasons that are obvious. have to suffer for the sins of our neighbours, We may yet for the lesson of the Peking-Newchwang railway is as nothing to the warnings afforded by some of the other accomplished enterprises. The Chinese at Canton know * that no political intrigue or ulterior design underlies the scheme under discussion; but Peking is easily come at, easily influenced, and there are those who view the rise and
Thus, while our intentions toward China progress of Hongkong with no great favour. are of the most honourable nature; there is- always a danger that the lapse of time, which is bringing embittering experiences to the authorities at Peking, might con- ceivably dispose them to mistrust even their best friends, and to increase the difficulties from which such enterprises have never --- been altogether free. The Cantonese would- gain more than we by the opening of this -- line. The only thing that stands in the way appears to be the mysterious hope of the concessionaries for some uniquely favourable opening to introduce their busi- ness. The public has in the past been most reasonable and patient; but they cannot afford to watch the present golden. opportunity being allowed to pass without ‹ any apparent effort to seize it. corporation is awake, we have a right to be shown some signs of life. If they are, as is feared, somewhat comatose, we would like to see restoratives administered in some such way as we have now suggested.
inaction of the British Government. These | Mr. BEENAN did not suggest this, however. respondent, first referred -to, boldi the
given as if prompted by the lecturer, He defined what should be our chief opinion-thát a sufficiently forceful whereas Mr. BEENAN was careful to say "As aim" as " the amelioration of the condition tation, by His Excellency the Gover a nation we are chiefly interested in the of the Chinese people," but he had more to the Home Government, of the preshing volume of trade; the prosperity of the prudence than to suggest that that necessities of the business, would have, a British merchant established in China is a were best accomplished under foreign drastic effect. No doubt it would. Pressure matter more of individual than of national rule, for such parts of it, at least, as of no light nature might be brought to bear concern." On the the whole, Mr. BRENAN might fall to truly civilised Powers. upon the financial magnates who are game makes it clear that the snailish progress of Yet Hongkong, Shanghai, and Tsingtaubling so easily with the destinies of this commerce with China is owing entirely to might be pointed out as rather pleasant important colony. The weight of "the"in- the rotten, corrupt, and incredibly short- examples of amelioration. He confessed fluence of the Chamber of Commerce, sighted native Government, which "does later on to a hankering for some unforeseen added to such a representation, would not give a thought to such matters as the event that would "place the foreign Powers also have great value just now; while expansion of commerce, or the development who wish China well in a position to compel if the China Association, through their of the resources of the country." When it reform." Those who have hoped against London committee, were to co-operate with does
think, its thoughts are usually con- hope for real reforms from Pekin would not an urgent and timely appeal, the probabiz" fined to the most obvious and immediate mind seeing, perhaps, a coalition of England, lity is that this pregnant scheme would; gain, as when CHANG CHIH-TUNG killed America, and Japan to compel such a posi-immediately cease to be a byword and a Chinese manufacturing enterprise, "be- tion to come about. cause if China could manufacture any foreign article for herself she would cease to import it, and then China would lose the import duty" So Chinese official action is usually that which blindly adopts
(Daily Press 20th March.) measures which end in strangling trade Writing confidentially, a correspondent and killing enterprise." Mr. BRENAN says reminds us that there used to be some talk that the progress already made has been of a Kowloon-Canton railway, and makes in spite of, not because of, Chinese the excellent suggestion that it is time the official action. Of the everlasting rail Hongkong public should be informed what, way question, he had much to say that if anything, is being done. So far as we was instructive. In his manner of present- can see, the British and Chinese Corpora- ing the financial aspect of the typical rail- tion seems to have shared the fate of way concession, Mr. BRENAN seems to afford SIGEDRITA in the Norse saga-that of being more explanation than usual of the delays scratched with the sleep-thorn. The best to which we have grown so accustomed. excuse we can offer for again referring to He paints these investments in a way that this thrice hackneyed theme is that as robs them of their gilt-edged character. constant dropping wears away the stone, so "All that the syndicate gets out of the constant reminders may stir up the ap- business is such profit as it can make in parently unconscious persons who have our floating the loan, a commission on the pur-commercial future in the hollow of their chase of materials, and a share amounting hand. To those who realise the importance to one-fifth of the net earnings of the line of this matter, the subject can never appear after the interest on the loan has been paid." tedious. Its importance was one of the The only way in which the British capitalist first official admissions made by His Ex- is at a disadvantage is that his Government cellency the GOVERNOR; and in common has not the same regard for the political with the business community of Hongkong, importance of a railway that other foreign whose interests we have the best of reasons Governments have. Being committed to for espousing, we have, in season and out the policy of conserving China's integrity, of season, repeatedly urged the need of the British Government is unwilling to action, and the dangers of delay. Various make vague promises like the others, of explanations of a most extraordinary delay seeing that the bondholder "comes out all have been forthcoming, but the time seems right in the end;' and those who now to have come when none of these can bewail this omission may someday modify reasonably be put forward again. One their opinion, if ever the time comes thing that makes the occasion appear for the other Governments to show especially opportune is the very apparent what their political undertakings are keenuess of the British Public to invest its worth. The Chinaman is sly enough capital in China. Our London correspond- to see the dilemma, and has begun to point ent's telegraphic account of the avidity out that “it is unjust for foreigners to press with which the investing public rushed to them to borrow money for the construction subscribe to the recent Chinese Govern- of railways which the foreigners themselves ment loan is amply confirmed by the last do not feel confident will earn five per cent. mail papers from Home. So long as the in- If the importunate foreigner is sure the vestors at Home were attracted by South line will pay five per cent., they say, why Africa as a lucrative field for the employ- insist upon a (fovernment guarantee! And ment of British capital, the holders of the if he is not sure about it, why put pressure concession for the railway between Kow. on China to aathorise the construction?" loon and Canton could plausibly plead the The only answer to these awkward questions | difficulty of negotiating loan for the that Mr. BEENAN could think of was that necessary funds. Such an excuse is to-day we must do as others are doing. He also absurd, in face of the news with which indicates very plainly that the Chinese who everybody here is now familiar. The bonds have the power do not want railways, and of the Shanghai-Nanking railway are do not know what good they are. With reported to be at a handsome premium, and them; a desire for the welfare of their the Kowloon-Canton railway is a much country is felt only in an abstract sort of more attractive proposal.
We
e- may there way as a good theme for an examination fore without impropriety remind the essay but it does not form part with Colonial Government, the local Chamber them of what is called practical politics." of Commerce, and the Hongkong brauch It seems almost a pity, with a rich of the China Association, that the present country in the hands of such an income is a psychological moment when action taken petent Government, that our Government by them would be likely to be most effec. should concern itself so much about the ictive. The public is anxious to know what tegrity of Chins ; and that it does not overtly the concessionaries are doing; if nothing, join in with the real policy of the powers, and why t if they intend to do anything, and if make its one-time spheres of influence" there is any alternative to the present very mean something more than a mere phrase, unsatisfactory state of things. Our cor-
11
"
a
If the
HONGKONG JOTTINGS.
sunshine.
14th March...
The weather has apparently changed at lastig During the month of February, I see from the meteorological observations published by the Observatory, we had a total of only 26 hours of t February last year we had 207 hours of sunshine,
And we live in the tropics"]: "Ini and a mean temperature 62.6 deg. Fahrenheit. The mean temperature for the month of February this year was 55.8 degrees. In February last the temperature did not once fall below 50 degrees, but on the 10th of Feb this + year the thermometer registered 43.8 degrees\. * and for more than a third of the month ther mercury was below 50 degrees. The general impression is therefore correct we have had, an unusually cold spell since Chinese New Year.
.·
Our climatic conditions, in fact, changing in more respects than one+] our Medical Offloor of Health; has during the last three decades the a progressive reduction in our emphasises the Importance of water storage accommodation, which I am glad to note the P.WD