154
REVENUE RAISING IN HONGKONG,
We can
exacts
[August 21, 1,909.
as to foreign motives, and hence to increase enormously the power of the reactionary party; and it was clearly in view of this that the PRINCE REGENT felt anxions with regard to the possible outcome of the situa- tion. Owing to the general ignorance as to the part being played in China by the reactionary party in their attempts to reverse the course of events, the most extraordinary motives have been attribut- to PRESIDENT TAFT in seeking to ed participate in the new loan. It has been presumed that he has been desirous of assuming a less friendly attitude towards. England than his predeceser, Mr. RooSEVELT, who, he is made to believe, played too much into the hands of England for the entire good of the States, and that the resolution taken to telegraph to the Prince Regent while the latter was actually in negotiation with England was the outcome of this. Undoubtedly, when first announced there may have been such an apparent indication, and the time certainly seemed inopportune. In other quarters, where exists an unreason- ing suspicion of Germany as the root of all political mistrust, it was sagely given out that America had acted in the matter on The subsequent Germany's instigation. course of events has shown pretty plainly that neither explanation accords with the PRESIDENT TAFT has facts of the case. certainly not in any overt way sought to dissever himself from the policy of his pre- THE RAILWAY LOAN BUSINESS. decessor. Mr. ROOSEVELT had, in fact, in
(Daily Press, August 17th.)
THE HONGKONG WEEKLY PRESS AND Council on Friday was not strictly in order, his remarks were certainly pertinent to the question under discussion. The notorious (Daily Press, August 16th.)
evasion of the law by holders of adjunct Presumably the Colonial Government is licenses to which the hon. member drew able by this time to form a fairly accurate
attention cannot in fairness be permitted to forecast of the Budget statement which is continue to the detriment of the hotel due for presentation to the Legislative proprietors from whom the Government Council next month. It will not have been
a fee twice as large as the adjunct forgotten by the general public that in order licence holder pays, while there is practically to meet expenditure last year the Govern- no distinction in the trade they both ment put into the general exchequer the carry on. Hotel proprietors are entitled Civil Servants Widows and Orphans Fund, to ask the Government for what Mr. amounting to some four lakhs of dollars. The OSBORNE called fair play; that is to say, for Colonial revenue this year in unlikely to protection of the privileges they pay for, show any substantial improvement on that and if the present Liquor Ordinance does of last, and from what transpired at the not afford that protection, they may meeting of the Legislative Council on legitimately ask for its amendment. The Friday last, we gather that apart altogether higher the fee demanded from hotel pro- from the loss which the Colony is certain toprietors the greater becomes the justice suffer in its opium revenue, over and above of their demand. Compliance with it, how. the "substantial contribution" promised by ever, subjects the Government to the risk a Government doomed to extinction before of a reduction of revenue from 'ádjunct without any corresponding the year is out, the Colony will be required licences to provide at least an additional four lakhs increase of revenue from hotel proprietors. of revenue in the coming year. With a The tendency of enhanced tees, combined view to furnishing a large part of this with a strict enforcement of the law must amount the Government proposes to increase be towards the extinction of many small the fees for licences to sell wines and spirits retailers and wine and spirit merchants, and and hopes thereby to double the revenue at consequently involves serious disappointment present received from this source.
of the hopes of a hundred per cent, increase well believe that no opposition to the in the revenue derivable from liquor liceucee, general principle of the measure need be anticipated, but there is much reason to fear that the Government's expectation of
the negotiations regarding the reassumption being able to double the revenue from this
of the Cant n-Hankow line stipulated for source by the method proposed is over sanguine. Perhaps when the discussion on It can hardly even yet be clearly under-the participation of the States in the next the resolution is resumed in the Legislative stood why PRESIDENT TAFT: selected the railway loan, and it was probably at the Council next Friday the Colonial Seeretary moment that he did for putting in a claim request of the Morgan group of capitalists will give some reasons for the faith to participate in Chinese loans. Diplo recalling this, that PRESIDENT TAFT Eent his that is in him in this connection: certainly pistically, at first sight at least, the Telegram. That it would have caused any it is not at present widely shared initiatory step would seem to bave partaken inconvenience to Great Britain does not, as a fact, seem to have entered his mind, and by the community interested in the very much of the nature of a blunder; at question. Many readers will remember the time the Chinese were in an unwontedly it certainly does not seem to have appeared that the Government revised the liquor suspicious mood, the reactionary party, to the British negotiants as at all dictated licence fees with similar expectations under the false pretence of patriotism, bau by unfriendly motives. The idea that the some sir or seven years ago. The raised the party cry of "China for the step was suggested by Germany with the result was that a considerable number of the Chinese," and, finding that the cry had object of raising a sore between America smaller businesses were promptly closed, and become popular amongst the unthinking and England still less corresponds with what we know of the intimate relations we believe we are correct in saying that the crowd, were seeking to turn it to their own Colonial revenue derived very small benefit private advantage, and restore the old between Germany and the States. Germany indeed from the change. Are not the pre- régime of office as a source of private pelf. Las been following very closely the recent sent proposals likely to have similar results? Under the circumstances it was but natural proceedings in Congress relating to the His Excellency does not appear to be entire that the first impression of the REGENT rearrangement of the Tariff, and has not ly satisfied with the method proposed and should have been one of astonishment and been so enamoured of the result that she would evidently prefer to have recourse to an anxiety at receiving a telegram from the would feel inclined to enter into an intrigue import duty, on Chinese and European liquor PRESIDENT, claiming the right of America with the States against England. Altoge- alike, being of opinion that it would be at to participate in the loan being negotiated ther the proposition of PRESIDENT TAFT that American financial houses should be once the simplest and fairest method as well with England and Germany for the con- as the most advantageous to the revenue. struction of the proposed Hankow and permitted to take part in the loan for the construction of the new Hankow-Szechuan But this method would involve breaking Szechuan Railway. As the lesser of two away from the free-trade traditions of the evils the reactionary party had been agitat- Railway, seen from his point of view, was port. Any proposal of this character would ing for the withdrawal of all foreign railway perfectly natural; and in no way unfriendly as infringing on China's towards either Germany or England; and be sure to evoke very strong opposition, and concessions His Excellency would have considerable" Sovereign Rights," and the purchase of we may accept without reserve bis explana-,
tion of the affair, and see how it has been difficulty in convincing the mercantile community that the objection is a purely
that the English interests concerned have sentimental one. Theoretically, the method
so far condoned its presumed unfriendly looks simple enough, but if the Government
nature that they have expres-ed their will- had proposed to adopt this method and had
ingness that the amount of the loan should invited an expression of opinion from the
be increased by one-half, in order that Chamber of Commerce we venture to say
America should come in on perfectly even that the Chamber would have had no
terms with the others. difficulty in showing that the method would not prove as simple as it seems and that it is open to serious doubt whether it would be most advantageous to the revenue. The proposal to in- crease the licence fees is certainly the least objectionable of the three proposals which the Government has been con sidering, but the more it is examined the greater the doubt becomes as to whether it will answer the expectations of the Govern. ment. If the amendment proposed by the Hon. Mr. OSBORNE at the meeting of the
the concessionary rights by means of kans raised abroad, as well as the construction of all railways in the future by Chinese capital exclusively. It was well known that the main object of the party was to render all industrial progress to China impossible, and to restore the worst abuses of the old régime; and as the members knew very
This, however, naturally leads to a con- well that there was no money to be had in China at rates which industrial under-sideration of the project from an inter- t kings, such as railways and mines, could national point of view. Although willing afford to pay, they reasoned on sure grounds to advance the money for the construction on the guarantee of the Chinese Govern- that the hated innovations would at once be effectively excluded, without the necessity ment itself, the financiers concerned do nt hold the line in pledge, and so have of proceeding to force majeur.
direct interest in its construction, no
in its financial not
uccess. Now we are seeing in the construction of the Railway bow, in spite Pukow-Tientsin of the best efforts of the Chinese Govern- meat itself, its guarantee does not afford the
Under the circumstances, as foreseen by some of the better informed American organs, the inevitable result of the demand to participate as a right in the process of lending money to the Chinese Government would be to increase the popular suspicion