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peace, a continuance cf which, for some years at least, is hoped for. At present ¡ there is nothing new to be said concerning the trouble originated in California; the American Governineut and its independent
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THE HONGKONG WEEKLY PRESS AND
state units must be left to work out their own salvation. The negotiations between Russia and Japan may he referred to, however, as they do not appear to be too well understo The two Powers are not wrangling; they are haggling; a very different proposition, and one permitting of various solutions not involving strain. It is the essence of all such bargaining that the parties respectively ask more than the others are likely to concede;
and it is only when they come down to the "irreducible minimun that there is any real excuse for alarmist suggestions. In the present case „Japan is still in a position to waire some points, an i Russia, as is her consistent policy, took care from the beginning to put herself in the position to do the same thing. To the callous observer, the demands she has made, it view of the issue of the war, have some times savoured of impudence; but these things are well understood by diplomats on both sides, and neither begrudges the other side a cheap reputation for liberality; when the inevitable waivers come to pass. Japan has had her way in Korea, Russia assenting readily when dissent was out of the question; and Russia was also concilia. tory over the question of the exequatur for consuls, Russia tacitly letting it he under stood that all her treaties with Karea hadi
it
become wastepaper. Now it seems to be Japan's turn, and Russia is making stubborn show of resisting Japan's whole salé demands for fishing rights. Both relying upon the same clause of the Portsmouth Treaty. Japin claims full fish- ing right along the coasts of all Russian possessions at this side of Asia, and Russia urges that there are vested interests, Russian and foreign, which preclude the granting of all that Japan demands. Prima facie, the agreement as worded seems to indicate that it is Japan's turn to modify her claims, the olause standing thus:
"Russia undertakes to enter into an agree.
ment with Japan, with a view to confer upon Japan's subjects fishing rights along the coasts of the Russian possessions in the Japin, Okhotsk, and Behring Seas. It is covenanted that the aforesaid undertaking shall not affect the rights already invested in Russian or foreign subjects in those ferritories."
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[January 21, 1907.
THE CONFUCIAN · REVIVAL." | practical and moral, we can overlook its
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lack of colour and of lofty impossibilities- for after all. in China as elsewhere, there is
no need to encourage more profession; what
is needed is more practice!
UNPROFITABLE GOLD MINING.
(Daily Press, 17th January.) particularly mysterious about the cent There would not appear to be anything
Chinese Imperial Decree that provides for the more systmatic worship of the memory of Confucius, yet the motive-seckers have set to work already, and we see suggestions
(Daily Press, January 18th.) that it is another anti-foreign movement,
The winding-up of the Weihaiwei Gold an adoption of a state religion and a Mining Co, Ld. serves to call attention to flouting of the mission tries of all other the fact that gold mining, not only in cults. One contemporary finds a solution China hut in other countries, is not the in the theory that the order to accord to lucrative industry that many investors Coxpcerts “the same sacrificial ceremonies suppose it to ba. Those British patriots of worship accorded to heaven and earth who have been accustomed to find consola when sacrifice is paid by the Emperor" is tion for the Empire's meagre production of shrewd attempt to counterbalance the commoditis in its practical command of evils of educational reform -ħa littla the world's gold supply are now face to face [foreign learning is a dangerous thing" with the reflection that they have heen and China has been suffering from extra- ¡ depending on a broken real. Company vagances which have followed inevitably an i gold mining by paid labour appears to be, the inrush of fresh ideas". Free and na the average, and including unproductive e impuls wy Bard Schools in the United - mines one of the most unprofitable of Kingdom have indeed # madness not, industries, especially now that the com altogether dissimular. whose fruits the mality vibio of gold has so apparently British nation has begun to reap. In depreciated. There are people who, after China, remarks our contetaporary, this half a century of observation and study, maduess MAY be moderate I hy this! maintain that it has always been an rhabilitation of the ancient wis low ". The unprofitable industry. They argue that in argument is an ingenious one, hut it was The best cases the profits are habitually hardly called for, so far as we can see, We | overstated, and that the dividends paid should have assured that I WHER merely
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In largely consist of returned capital. mining acổmints, it is the custom to make provision for the depreciation of machinery. bit there appeurs never to have been an instance of allow mer or "writing down' for the inevitable exhaustion of the mine itself. It is obvious that each year the value of the mine is loss, the quantity of gold ther in smaller, and that the mine as an asset must ultimately become an empty hale. The Weihaiwei mines were not absolutely empty when the foreigners tickle them, but it soon become evident fat the eulier Chinese birds had got the worm.
In the eve of the Transvaal gold mines, considered by many British as a valaible Imperial asset, this exhaustion is in progress, even while the exchange value of gold-has diminished, and the cost of labour (thanks largely to political humbug) has made it dearer to produce. The cnadle is being burned at both ends, and it is the ordinary shareholder who is likely to be singed,
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the Dere of the number with which Peking habitually amuses itself in periods of horedoui. A boy armed with a knite sets out to "carve something," no matter what, for the mers pisime; this Decree strikes us as such a carving. We would be glad to think it was something a more; that it would indeed bring about a rehabilitation ” of China's old ideals; but even assuming that its intention was such, ↑ this Decres would defect its own object, The moment a philosopher becomes a fetich, the practical value of his teunings is gone. This is no mere catchy phrase; we reom. mend it for analysis. Truth falea when it homes platitudinal; a thief will not be moved by the adige about honesty being the best policy; and if ever an alter he erected to HERBERT SPENCER, men will cease to take his writings seriously. It is cosamon knowledge among these who know a little Cantonese that the Chinese have aequired a habit of quoting and misquoting |
The mine Directors ought, for to ther classies, sometimes ir inically, often hoth equitablo and business reasons. There would undoubtedly be a serious using a beautiful crystalization of truth to charge for the depreciation of the mine's outery in Russia if the government at S.
suggest so nething banal or even contrary contents, and from the monev so obtained, Petersburg failed to maintain the national
to the text, much as a humorous foreign the shareholders should receive returns of rights and reservations indicated therein; boggar will remind his victim that "the Lord capital free of Income Tax. Their interests, and so far as can at present be ascertamed. | loveth a che-rful giver." These words camo however, are nearer the interests of the this is one of the positions from which
promoters than of the shareholders, and Russia is unlikely to recede. Other com-
such an honest procedure would, of course, cessions are possiblo, obliging offers are
make the legitimate profits look less, and so indeed talked of, lut in this une
imperil the illegitimate. So late as Nov, particular Russia seems t upy the
21st of last year the Chairman of the position of a man who, for a principle,
Consolidated Goldfield: Company of 8th will spend a pound to save a penny, The
Africa is reported as admitting that more long-awaited Commercial Convention is
than half of the 63 mines operating in probably side-tracked as much by this con-
August, 1906, were earning less than ten sideration as by its own internal difficulties:
shillings a ton, and nine of them were and if, as some have suggested, it is the
earning less than five shillings. Allow for chief barrier to the talked-of Anglo-Russian |
the diminishing contents of those mines, Convention, we may be better reconciled to | reason—that
will operate, and it is at ones seen that their earnings the delay. It is always better to be off with ; adversely to the spread of Christianty' ar·less even than admitted. Experts tell as the old love before starting with the new. bot because the formalism and State that the richest of them will be exhausted recognition that have deadenel Christianity in leg than thre lustres. The 150,000 in Europe will assuredly make moribund 'mineri engaged
are expected to have whitever of trae Confucianism still survives (
for dividend luved An aggregate The sime į
year ending March next of some- among the masses of China. paper which deplores the Edict as threaten thing lesa than five millions sterling. ing the foreign propagan la gives as this For the six months ending Inst Septem- definition of C mťacjanism : the doctrine br the actual return from the whole of Confucius is a practical, colourless code; of moral ethics, įvic devoid of any lofty standard of unattainable ideals". If it be
The return of stamp revenue for the year 1906 shows a total decrease of $14,940.07. The only items showing increases are, impressed stamps, 840,105.62, and bills of health $1,019 The undermentioned decreases, as compared with the year 1905, occur on the following items: - Bank note duty, $17,313.65; embossed stamps, $38,564.25; telegraph forms, $5.25; emigration fees, $125; medical declarations, 810; and
medical registration, $70.
glibly from his sancy tongue; their signi- ficance evidently mover penetrated his ser. to stupified brain. So we fear the fores of the Chinese Classics will only be weakened if the people are further directed to the shibboleth, and less to the sense. It is possible, as au-ther contemporary fears, that "for China's real welfare and advance. ment there could not perhaps be a more regrettable movement than this sudden elevation of the great sugo to the rank and position of a very god ". Not for the stude
"the
Edict
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goldfield was £2.400,407. Reckoning on 25,000,000 for the year, it will be found that each miner returns a profit of about