52
THE HONGKONG WEEKLY PRESS AND purposes Hongkong is and must remain sa denied that it means a falling off in the integral portion of the Chinese Empire and it prestige off European nations. is no more possible to exclude Chinese sub-time, it is manifest that it is the more At the same sidiary coins from the Colony then it is to
should be exercised by a nation situatel in natural state of things that such influence
exclude dollars and establish a gold currency
there.
We call special attention to the "integral portion" of it. Granting that position, it seems almost just to suggest that in that case a war on China, to force her to reform her currency as promised, would be a holy war, a righteous war.
In a "confidential " letter to Lord ELGIN, dated April 27th of this year, the Hon. Mr. FH. MAY say the time has arrived for the Government to take steps. The Govern. ment, as well as merchants, is losing. He estimates that there are twenty million dollars worth of Hongkong coins to redeem, still in circulation, or eighteen millions more than we want. Al present the Governmeus is paying the Bank übout $3,000 a month at discount, aud he proposes that in future all subsidiary paid to Government be retained and sent to the Crown Agents for disposal. This would mean a loss of about $40,000 per annum, partly set off by the saving of the $86.000 paid to the Bank. The Colonial Office has telegraphed its approval,
THE FAR EASTERN POWER.
(Daily Press, 25th July). Since the conclusion of the Russo-Japanese war, comparatively little attention has been directed to the effects which have been produced by the outcome of that struggle, in the relative positions of the Powers in the Far East. There can, however, be no doubt that the modifications which have been brought about will be as far-reaching as they are important. The effect of the Japanese successes has been to change the centre of diplomatic influence in regard to all Far Eastern questions, that is to say speaking generally, with respect to China Japan and the Korea. It is becoming daily more evident that Japau is destined to become the dominating influence in all matters of foreign relationship not only with herself, but also to a great extent with China. So far as can be judged by existing circumstances, Japan will take very much the position which for many years was held by Great Britain; but which, from a variety of causes is now no longer retained by the latter. Time was when the voice of the British Minister either at Peking or at Yeddo Was sufficient if not actually to decide, at least largely to influence the ultimate decision in most questions that Brose. The subjects were discussed by the whole of the Foreign Ministers but the British Minister took the lead and had generally sufficient influence both with his colleagues and with the Chinese or Japanese Authorities to cause the decision of any matter in issue to be in accordance with his views. This influence bas now largely declined, and that of Russia, which se med at one time likely to supply its place has received a rude shock from her failure in the recent war. So far as Great Britain is concerned, she was not merely inclined to let matters drift, as is too frequently her policy in these parts, but became indi-posed to go on pushing the interests of foreign uations generally with no special advantage to herself individually, The course of events has at this juncture brought Japan to the fore, and everything points to that country being now the dominant force in all Far Eastern matters; and to her voice being likely to be almost final in all im portant international questions that may arise.
that this influence is likely to be exercised with much greater effect not only on that account, but also because it is less liable to be weakened by the jealousies between foreign l'owers, which have been so adroitly worked upon by the Chinese Authorities. So far as China is concerned, it may be safely assumed that the interests of Japan will for many years to come be identical with those of foreign nations; and there seems no reason to doubt that, as re- gards herself and Korea, Japan will be ready to adopt a policy in conformity with the interests of foreign nations aud in fact will
continue to identify herself with their views. | Provided that this is the case, it is far more satisfactory for foreign nations to allow Japan to make the running in the reforms which it is hoped to introduce both in China and Korea. The chief end that foreign nations desire to obtain is that both those countries should be in a position such as will tend to the maintenance of peace and to the advancement of legitimate tra- ding interests, &ad these objects are those which Japan herself has in view. So fir she is identified with foreign nations and may in this respect be regarded as one of then herself. At present she is disposed to make common cause with them in such trading and other advantages as she can obtain, and so long as this is her policy it is manifestly to the advantage of foreign nations to accept the situation and to obtain the benefit of so useful a co-operator. At the present time she exercises a considerable influence in China in the direction of re- form, and is likely to be able to induce the Chinese to come into line with other nations in a way which is impossible for Europeans, whose knowledge of Chinese methods and ideas is much more limited. The Chinese it is true do not like Japan; but they are none the less willing to gain any material advantages that may be attainable from so useful a teaober; and it is not beyond the bounds of hope that China may by degrees learn the means of improving her internal administration from a nation who has succeedel so well in reforming her own.
the centre of the countries concerned, and
SOUTH CHINA TRADE.
(Daily Press, 26th July). The fourth volume of part number two of the I. M. C. port trade statistics and reports covers the twelve southern coast ports from Santuao to Pakhoi. Santuao, as a feeler of the Foochow tea market, does not afford much soope for comment, but the Acting Commissioner, Mr. F. W. CAREY, says "there is certainly a good opening here for a foreign firm with plenty of energy and a little capital." At any tide, steamers can get in unpilotel, and he is assured that a saving of three dollars a picul equal to a half-penny per pound could be effected by shipping tea direct instead of through Foochow. There is a steadily growing production and export. There were exported in 1906 Tis. 2,237,880 worth of local produce, and only Tls. 38,997 worth of foreign goods were imported.
The Commissioner classed the year's trade a8 normal, though it shows a decreased net value. There seems to have teen a tendency to overstock imports. Mr. G. F. MONTGOMERY's most interes ing note deals with postal developments. The This change may in some ways be cause Imperial Post is so popular that the of some feelings of regret, as it cannot be provincial courier service, "which is at
"
[July 27, 1907.
least 3,000 years old, and costs nearly thirty thousand taels a year, has been named for abolition. An "express delivery" of "C. (). D. "being fully appreciated. The service is doing well locally, the convenience
Tis. 17,447,135 in 1905 to Tla. 16,693,585. net value of the port's trade dropped from
Tea exported was about 117,000 piculs, and re-exported 115,000.
Mr. Cecil A. V. BowRA, the Amoy Commissioner, also has nothing startling to report; the trade "continued its gently downward course," the net value drop- ping from Tls. 18,567,791 in 1905 to Tls. 17,353,339. "The Amoy district," he writes, "has almost ceased to be a place of production. With the exception of the output of humanity, the exports are quite of a trifling description. And the import, mainly represent the requirements of the r-tired traders who have settled down there. The story of Amoy as the entrepôt for Formosa tea has entered on its last chapter, but this notwithstanding, the foreign population of Kulangsu goes on growing, and houses are in unceasing demand on that pr-ty and well governed island.
**
Swatow merchants grumbled much about the year's business, but Mr. FRANK SMITH, Acting Commissioner, reports it as satisfactory from a Customs point of view. The yara trade seems to have been the worst. The net value of this port's trade decreases rapidly, from forty-nine million taels in 1904 and forty-seven in 1905 to forty-three millions last year.
Cauton advances. Not high exchange, spring floods, nor typhoons could prevent a slight increase in revenue and an increase of nearly two million taels in the net value of the trade. What it would be if the railway scheme were furthered instead of hindered, Mr. F. J. MAYERS, as Acting Commissioner, can only hint. It is pro bable, he admits, that to some extent the increased revenue shown in his tables has benefited at the expense of the Native Customs collection. Not only were many of the trading junks wiped out by the typhoous, but steamers have been coming more into favour, owing to their increased security and punctuality. The slight de- crease of imports may be only apparent, as the classification is by value, not quanti ́y, and exchange makes a difference. Dearer silk helps to account for the higher export figures. Those who are interested in the rival claims of Hongkong and London, for the record tonnage, may be interested by a remark in this report, showing that Hongkong does not make the most of its statistics. "In consequence of certain openings having been made in the after part of the 'tween decks of some of the river stumers, for the purpose of ventilation, and in no way affecting their cargo-carrying capacity-for river steamers carry the bulk of their cargo on the 'tween deck, the tonnage measurements of dve vessels have been reduced by 3,298 tous. This naturally involves a very great reduction in the tonnage figures."
The net value of Canton's trade for last year Was Tls. 94,108,696. This, while better than 1905, is not so good as in 1904, by over two millions.
The Kowloou Acting Commissioner Mr. W. R. MD. PARE, refers at length to exchange fluctuations and deir silver. In addition to Indian purchases, he notes that | Mauchuria and Korea have been absorb- ing large sums, and China's extensive coining operations forced up the price, silver being affected less by industrial requirements than by mone ary demande. The net value, T. 41,971,859, shows a