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December 2, 1905.]
Was
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CHINA OVERLAND TRADE REPORT.
inland places with waterways, which tended to develop the natural resources of the country and to encourage native industries. But in regard to this railway, people were dubious of the possibility of its making profits, in view of its running parallel to the river and its meeting the keen competition of the large num ber of steamers and steam launches. Against this view, he would cite the instance of the Canton-Sanshni line, which also had the lively competition of water-borne trad- in the West River, but which entirely falsified such predictions, by the results of its first year's operation, which net'ed no less a sum than about $700 000 for a line of on 30 miles in distance, with a tendency to further consider. able increas »s. Now since the Shanghai-Nan- king Railway covered six times the distance of the Samshui line, its possibilities could be well imagined." (Applause,)
1
Mr. W. J. Gresson also acknowledged the tonst on behalf of the British and Chin-84
..
Shanghai as the most important place, for it is an emp rium which receives the commodities carried by steamers from various countries and distributes them into the interior. The position it occupies is, therefore, that of communication between Chin and foreign countries, which compared with the other railways giving only inter-communication within the Empire, confers advantages much greater and securer. Hence, the importance of the Shanghai-Nanking Railway is greater than that of other railways, Cavillers have, however, found objections in this railway in its running parallel to the river course, but I am sure they will see the fallacy of their views in a very short time. There have been no railways in China until now. It was only in the first year of Kwang Hsu that a proposal to start railway enterprises was first presented to the Throne. But at that time, on account of the ice of ignorance not having been broken, much opposition evinced against such an undertaking, so that although a line had been previously built from Corporation, Ld. He said: Your Excellency, Shanghai to Woosung by some foreigners, Mr. Shen I'uu-ho and eutlemen, negotiations China subsequently bought it over and consigued were entered into some years ago by the British it into disuse. It was nutil the time when and Chinese Corporation to build this line the Marquis Li Hung Chang opened thin conjunction with the Imperial Chinese Kaiping mines that a line was started from Railway Administration, but for various Tangshan, the first ever built by China herself. causes the construction was delayed. However, Then followed such lines as the Tientsin- on the 25th of April last th· first sod was cut Shanhaikuan Railway, the Peking-Haukow by H. E. Sheng Kungpao, and since then pro- Railway, most of which, on account of the gress has been rapid, with the result that wa length of the distance traversed and the have been able to-day to open this section. It enormous amount of capital involved, were appears to me that this institution of the link- built from foreign loans. This was noting of Shanghai with the large towns in its necessarily because of the poverty of Chin, but because of the fact that the many advantages of railway undertakings were not then generally known to the people, who were, therefore, reluctant to put up their private capital for the promotion of a public measure. ow the nations of the world all regard railways as a sign of progress in civilisation. In looking at their standards of progress we find that the deuser the network of railways in a country, the more wealthy and powerful has that country become. Of late the literati and officials of China have somewhat awakened to this fact. In the different provinces movements to build railways follow one after another. But while the benefits of railways are enormous, the con. straction, of a line, whether with self-raised or
borrowed capital, in its many ramifications, cannot be accomplished by single individual efforts. Thus for the early opening of this first section of the hanghai-Nanking Rail- way credit is due to the High Provincial authorities of Kiangsu, H. E. Yuan Taotai. the Shanghai and Paoshan magistrates, and the officials of the Land Purchasing De. partment in malters concerning land pur- chases and protection, and to the members of the Board of Commissioners and the Engineer- in-Chief and his staff for the efficiency and speed of the construction work; while for the harmonious relationship and hearty co-opera- tion, without which success is impossible, wa owe not a little to the representatives of the British and Chinese Corporation who are the right men in the right place. (Hear, hear.) To-day's opening of this first section is the precurser of the extension of the line to Son. ohow and Wusieh next year, and afterwards to Changchon and Chinkiang, thence finally con- necting Nanking. Wherever this line will reach there it will prove a convenience to the travel- ling public, and a rapid means of transit for commodities, while it will also give impetus to the development of native products. No limit can I place to the possibilities of his railway for the enrichment of this country On the present and prospective achievements of this railway I can well offer congratulations to China, co gratulations to the Kiangsu pro vince, and congratulations to our honoured guests to-day. With these remarks I b g to propose Railway."
Suocess
to the Shanghai-Nanking
Taotai Shen Tun-lo said the line would work to Soochow next year, and be complete the year after. He went on :-" Before the opening of the Lu-Han Railway, the steamers plying in the Yangtze River were less than fifty in number in a year, siuce which the number had inor, ased by leaps and bounds to over one hundred, while the amount of cargo carried also increased pro- portionally. This proved conclusively the advantages conferred by railways in connecting
neighbourhood by railway is a matter of immeuse everyday importance to those interested in the welfare of Shanghai, foreigners and Chinose alike. It is conceivable that at no very distant date Shanghai will have overland railway com- munication with all the principal cities of the Empire and that the vast interior districts will be opened up to trade. Doubtless new industries will be started in consequence, and the result will be that the trade of the country will be very largely increased. In that development, I think, Shanghai may be trusted to look well after itself and see that it derives its share of benefit.
Mr. Shen Tun-ho has referred in very kindly
terms to those associated with him in the con-
straction of this railway, and on their behalf I thank him, and you, gentlemen. It is the wish of the British and Chinese Corporation to live up to the spirit of its coutract and to provide Chiua with a railway of the most modern type at the most reasonable cost that it can be done conformably with those aims. To that end We have engaged { most efficient engineer-in-chief and staff of engin: eers, and have the benefit of the advice of one of the most prominent consulting e gineers in the world (Sir John Wolff Barry). I am sure that when the railway is completed, it will not only be a credit to their reputation, but that it will compare very favourably with any railway in the world. (Applause.) You will have noticed that the engine which brought you here to-day has been named after Mr. G J. Morrison, who took a very great interest in the line; I think it is a fitting tribute to bis nemory (Hear, hear.) I thank you for the kind wishes you have expressed."
GERMAN POST OFFICES IN SHANTUNG.
contrary those at
Tsinaofu and
Weihsien
THE ISSUE OF STANDARD SILVER CURRENCY.
393
Following is an Imperial Decree of Nov. 19, translated for the N. C. Daily News :-We have a memorial from the Commissioners on Finance concerning e proposed issue of a standard silver currency of uniform weights, fineness and touch, and also a copy of the proposed rules and regulations for the guidance of the Mints in the provinces. The memorial- ists further state that the silver dollars and subsidiary coins struck in the provincial mints were targed out to meet certain financial contingencies affecting said provinces at the time and therefore such silver money cannot be taken as standard legal tender. The memorial- ists now recommend the minting of a standard silver coinage of three denominations, such as one-tael pisces, half-thel, or five-mace pieces, two-mac- and one-mace pieces, of the Govern- ment legal "K'up'ing" (Treasury, or Board of Revenue) standard weight and Ane ess. The new currency, continue the memorialists, can be used in conjunction with the silver coins and copper cash formerly minted in the provinces and now in circulation throughout the country. As the questions of financial reform and a standard currency is one of the most important before us, we hereby command the Board of Revenue to take the rules and regulations which have been present d to us for approval and send instructions without delay to the Chibli, Kiangsu, Hupeb, aud Kuangtung provincial mints to coin silver currency at once in accordance therewith. This new silver currency shall in the future be accepted and used as legal tender in all transactions, government as well as private. Whatever other matters that may be required to be dealt with that have not been touched upon by the memorialists are to be reported to us for approval by the said Board as occasion requires.
THE FLOOD OF COPPER CURRENCY.
The
in receipt of instructions from the Board of The Viceroy of Liangkiang, H. E. Chow Fu, Revenue, relative to the limiting the daily out- put of ten cash copper pieces from the several Kiangnan province is allowed to turn out each provincial mints. According to the new rules, day not over 1,000,000 of such coins, which would place the Viceroy in an embarrassing position, It seems! that the indebtedness incuried by the mint at Nanking in the past amounts to Tls. 4,000,000; at the same time, the Cauucil of Army Organisation has allotted to the Kiaoguan province the sum of Tls. 800,000, to be raised annually, as its share of the expenses in organising the new Army of China. various measures being introduced in conneo- tion with the scheme of reform, too, consume enormous aims of money. All these items are a fearful drainage on the provincial treasury, which s however, at present replenished by the profits derived from the copper cash mint. In case, therefore, the output be limited to 1,000,000 pieces per diem, the profits would be greatly reduced, rendering the meeting of the provincial expenditures a matter of grave difficulty. The Viceroy, therefore, proposes to protest against the new Board rule, and should his protest be of no avail, he will have to arrange to evade in some way the rule in questiou-Nanfangpao..
RAILWAY PROFITS IN CHINA,
sum 88
In accordance with reliable information, we are enabled, says the Tientsin Times, to state that the numerous and irresponsible reports in the native papers and elsewhere to the effect that the recent agreement in regard to postal The Tientsin-Shanhaikuan Railway has been matters between the German Minister, Baron reaping golden harvests. Last year, after pay you Mumm and the Chinese Government willing off the interest on the British bonds and result in the withdrawal of the Gernian post redeeming those, the numbers of which came offices from Shantung are not correct. On the out in the annual drawing, and after defraying the running expenses, and appropriating a large a loan for the construction of the Peking Kalgau Railway, there was left a net profit of ever Tls. 1,200,000. It is reported that out of this sum, Tis. 800,000 will be presented to their Majesties to replenish the Privy Purse; Tls. 200,010 will be set apart for the Peiyang administration; H.E, Hn Ÿ¤-fen, Administrator of Northern Railways, will receive Tls. 100,000; and the remaining lakh or so will be divided as a bonus among the employés, in proportion to their monthly salaries.—Nanfongpao."
as well as the office at Kaomi will remain. On the other haud it has been promised to the Chinese Government that the Chinese post office at Tsintan will be retained for the exchange of mails. The agrement further contains specified regulations about the relation of both the German and Chinese postal administrations and the mutual co-operation in the for wording of mails, parcels, etc., similar to that which obtains in the case of the French office which was concluded some few years ago,
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Kumuman