May 1, 1909.]
to an end, but reform of the Currency came to supply the waning grist. The new scheme indicated no want of financial talent;- indeed could not have presented itself to
CHINA OVERLAND TRADE REPORT.
practical lesson that national dishonesty, any more than personal dishonour, does not
pay.
355
anyone except one thoroughly skilled in the BRITISH NAVAL POLICY IN THE herself building Dreadnoughts the fat was
art. The Provinces were to be given the hint of how much profit they could make out of the issue of a "reformed" cash cur rency; everyone knew how defective was
the old, and how short was the actual stock in hand. If they got out machinery and turned out to a uniform pattern new copper pieces, they could make a profit of fifty per cent, and for a consideration Peking was pre- pared to grant the necessary authorisation; this was important, as at the same time profit could be made, and the Foreign Powers who were pressing for improved currency could be boodwinked.
PACIFIC.
one than they anticipated, for Germany, conceiving rightly or wrongly that the con- centration of the British Fleet in the North Sea was intended as a challenge commenced
in the fire; the economising of the Navy, and the scheme for masking Germany's war fleet by concentrating our own in the North Sea, had seemed to many in Germany a deliberate attempt to confine her to European waters; and as such was to be counteracted at any sacrifice Now Ger. many, any time within the last fifteen or twenty years, has had a desire for Oriental expansion, and this longing has been edul ously encouraged by the KA retirement from Vancouver, and the reduc tion of the China squadron to a few cruisers cheese-paring policy to which Germany were very grateful as an indication of the
a nation was Conceived Great Britain as naval
now committed, and it was plain that at the
the concentration scheme may be stated in a few sentence, Germany, it was held, was the only naval Power with whom there was any possibility of coming in hostile conflict. America and we have too many interests in
common
(Daily Press, April 28th.) The visit of a small Japanese squadron to Esquimalt next month sugge ts a few thoughts of considerable interest at the present time when throughout the British Empire a reso lute intention has been show to maintain our naval supremacy. Probably the worst con- sidered part of Admiral Sir JOHN FISHER'S much belauded scheme for the concentration of the fighting strength of the British Navy was the abolition as a naval base of the The scheme succeeded beyond the most Esquimalt. It is quite true that Esquimault Island of Vancouver, and the dismantling of sanguine hopes of its proposers; so well in- had only accidentally come to be a deed that the DowAGER began to think that port. In the old days of the Hudson's Bay with all her cleverness, she had let the Company it had served as an admirable provinces in for quite too good a thing place of shelter for the trading schooners of Some limits had been spoken of in the first the company, but proved itself utterly the Provinces; but the DOWAGER was not two cruisers had to be berthed. Vancouver, instance, there might be good enough for unsuited as a naval base when more than going to hamper herself, so provided that however, possesses absolutely some of the the extra money came in quick no questions finest harbours in the world, three or four would be asked. Of course, in China there of which are suitable for naval stations of is no account taken of these things, and the first-class, while at back, in addition to care is taken to obliterate all traces; but of its being at any time in a position to be one thing there is no doubt, and that is that reinforced from home through Canada, the debased cash coinage has formed no inconsiderable portion of the little hoard of it has
which in itself is a vast recruiting ground, inexhaustible stocks of coal, the 216 millions-how much neither, we nor anyone else will ever know. But if the
as well as iron, which though not at the moment worked, are certain in the lion's share of the swag went to the Dowa-immediate future to be of vast economical GEE, there is as little doubt that a sufficient importance. The ruling strategic idea in share to satisfy the most exacting went to the confederates in the game. Doubtless with her peculiar taleut of acquisitiveness much of this went back as bushmoney to the DOWAGER herself; but there must have been much shroffage on the way, and though a few have been made to discharge, there are
to raise any presumption that she will ever be found opposed to us on sea yet a few millions to be had in certain slums France too, for like reasons is friendly. in or about the capital which it would be Japan is bound in self-interest to avoid quite feasible to enquire about. And herein coming into conflict with the naval power lies the great obstacle in the path of any of Great Britain, Germany has too many possible reform. Everyone who has touched irons in the fire in Europe to care to greatly the filthy lucre has de facto a personal in- increase her Pacific fleet, which she could terest in concealing the traces of the crime, not do without withdrawing from the and finds himself rauged on the side of strength in Europe, which from prudential obstruction. Even the representatives of motives she is not likely to do. We can the Powers who had it in their power to see therefore without risk to these things but preferred in the face of reduce to a minimum our Pacific feet, re- our prestige their own particular sch mes to keep their taining only enough to be able at short eyes closed, would under the new conditions not altogether care to be reminded of their local disturbance; and this will give us "show the flag" in case of any shortcomings; so that altogether Peking is force enough at home, without incurring wrapped up in a con-piracy of silence. And additional expense to "mask" any forward if the case be so with the debased coinage movements an the part of Germany. Un which has already descended to the ateliers for uately at the moment came into office of the profess oual coiner, how much more the Cabinet at the head of which was Sir so may it be expected to be with regard to H. CAMPBELL BANNERMAN, himself the the banks wh have been more re ently flood. acknowl dged chief of the "Little Eng. ing the market with their notes? Peking lander" movement. Und r false pretendes has already had time to have these under of economy, the party were seeking to discussion," and there is little reason to launch a huge scheme of socialistic extrava doubt with the usual result. The banks ance, the only plausible means of meeting have already had time to follow the mme. morial custom of greasing the hand that has both army and navy; and Sir JOHN FISHER'S which was the reduction to inefficiency of had the power to binder them; the rest has scheme which se med to afford a plausible followed the usual routine of buman nature,
excuse was eagerly welcomed by the new Ca- and Chinese human nature in particular, and binet. The idea of having her fleet masked Peking has anticipated its share of the hoped-was not very agreeable to Germa y, and the for plunder, and stands committed in dissatisfaction was increased when it seemed to the German mind evident that the policy Chambers of Commerce and Bank Direc-of bottling up the German fleet in the North tors may beat out their brains against the Sea was emphasised by the building of the iron bars of the Inevitable, but the founda- Dreadnought. Apparently, as they thought, tions of corruption in China are too deeply the Cabinet, having bottled up Germany in laid, and the superedifice too strongly built Home waters, could now proceed with its for it to be upset for many a generation policy of cheese-paring, and great was the yet--till in effect a people by no means de- rejoicing amongst the Little-Englauders. void of astuteness has come to learn the But the game turned out a more dangerous
advance.
1
n. tice to
AISEE, The
rate at which the British Navy was dawdl- ing over its ship-building programme Germany could pick it up by the beginning
situa ion which has thus developed and the of 1912. The British nation has been slow to recognise the extreme gravity of the
Government, which should have been the first to perceive the drift of it all, has been the last. What the so-called economies effected in
the naval administration during the last four or five years are likely to cost the Empire in the next five years it is not possible to estimate: we only know that the nation, in order to maintain its naval supremacy, on which its existence depends, must go on spending enormous sums on the building of new ships for some years to come.
THE COUP D'ETAT IN TURKEY.
(Daily Press, pril 29th.) ABDUL HAMID II who for thirty-three years has reigned as Sultan of the Ottoman Empire has been deposed by decres of Parliament, and his brother, MEROMMED RESCHAD EFFENDI, who was Heir Presump tive to the Throne, has been proclaimed Sultan in his stead. ABDUL HAMID is a fugitive. These are the results of the brief revolt which the telegrams from Europe have been reporting during the past few days. But what are the causes of these developments? On this point the telegrams ago when the patriarchal KAIMAL PASHA afford scant information. A few months
as dismissed from the post of Grand Vizier, because he was seeking to under- mine the influence of the Committee of Union and Progrs, whic: had become the supreme but unofficial junta of the Empire, he declared that in dismissing from the Cabinet his Young Turk colleagues, the Ministers of War and Marine, he had acted just in time to prevent a coup etạt which would have dethroned the Sultan and replaced him by Prince YUSSUF IZZEDDIN, This charge was repudiated by the Young Turks but in such terms as made it clear that "the Padishah reigned on sufferance that the Shadow of God should again claim and would cease to reign on the standing anyt iug more than the shadow of sove re gnity. The Young Turks Committee of Union and Progress, as we have said, and as the events of the past week have proved, have in their hands the power of control. KAIMIL admitted as much a ter his downfall. KAIMIL is a veteran of eighty-four years, the last survivor of the old school, and though he is reputed to he conscientious and wary in international negociations, he was imperious and vehement in character and could not reconcile himself to the tutelage of the Committee of Union and Progress. The Committee, on the other hand, regarded
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