Page
DIOCESAN BOYS' SCHOOL
AND ORPHANAGE.
TREBENTATION OF PRIZES SPEECH BY SIR WILLIAM GOODMAN.
The annual distribution of prizes in con- nection with the Diocesan Boys' School, Bontan Itoad, took place yesterday in the School. His Honour Sir William M. Goodman presis, and was supported by Mr. Geo. Piercy, jun, Headmaster, and Rev, F. T. Johnsen. There was a large attendance of ladies and gentlemen The proceedings were opened by the heir singing "Hourts of Oak."
THE BONGKONG DAILY PRESS. FRIDAY, JANUARY 16TH. 1:03
His Majesty," which, like their provions efforts,
was very well done.
Hes. T. T. JOHNSON mored a vole of thanks to Sir William Gondiasa for so willingly cou sentir to come there that day and distribute the prize. They all know he was a very bnav man and on that accenat felt all the more grateful to him for sparing the time to attend that function. They vary mack preferret that be should visit them there rather then they should be compelled to visit him at the Supreme Court, (Applause.) He could assure that that Sir William Goodman distributing prizes was a very different Sir William Goodman as re resenting the majesty of the law in the had- THLI ex- Supreme Court. He had
the latter perience of him, however, in capacity. (Laughter.) With regard to the extra day they thanked him most-heartily for his great kindness in thinking of sharing the honour on which they all congratulated him. (Applause) Is concinaion Mr. Johnson asked this visitors to remain after the mooting Was over and inspect the school buildings, pay which the school was conducted by Mr. Piercy and his staff. Mrs. Arnold and Mrs. Piercy, A verse of the National Anthem brought the formal proceedings to a close,
Mr. PIERCY then roul the annual report, profacing his remarks by saying that as senior zember of the Committee of Management and we he took a great interest in the work of the School, they were highly gratitled to see Sir William Godean in the chair, and offered him their hearty congratulations on the knight hood which had be souferred upon him by His Majesty the King. (Applane.) Throwing, which was a very excellent exercising a compliment to the care and skill with report was in the following term
Iropart. (Hear, hear.) When you could suns up what had been done in that school during the last year in the first two lines as was done in that report it was a very satisfactory mition 14 h in. The words he referred to were these: We are thankful to any that the past year has beau characterised by good he lth, steady pro gress and marked success." Good health was a wonderfully pleasant thing to have in a school, and it selected credit upon the masters who took care of the boys. Mrz. Pioroy looked after them like a motbor. (Loud applauss.) You could could not have good health in a climate like this males you had plenty of exercise, and therefore he was very pleased to see that they hd bou working hard at cricket and that Mr. Brawn had given them such an impetus that way by coaching and helping them, and that so great had been the access of the Club that they had won overy match so far. That was very encouraging thing, and in order to encour "g them sa urore he would be very happy to give them a new ball at the start of dext seAⱭTI- Applause.) He saw also that they bad begun At the Rogatia they followed very close upon the winning host. Of course he would rather have soon them first but it was a grand thing to be got second. He was present at the Regatta sad watched the whole proceedings and he thought the Diocesan School boys rowed uncommonly well. If they had a little more training and put their hearts into it they would give their opponents a very hard race for it if they did not win; nad les hoped they would win, As to the work of the School, he was pleased to hear it stated that Mr. Jackson had been engaged to help with the younger boys and had been doing good work, especially in explain- ing the English lessonsin Chinese, It had always Peared to bins a wonderful thing in Houg the work with Chinese boys and English boys sitting side by side; must be to get some knowledge of the English, language before they understood the lessons. In these circumstances, the first thing they should do was to learn as much English as possible. Mr. Jackson had bona told off to repa in Chinese to the boys the lessons and explain faily to them what the lesson mennt, because, although they understood part of it, there must be some part of it they not under stund. He should like to see that plan carried at very Fally so that Chinese boys would have the same chance or English boys in nequiring know.edge: he wenld advise Chinese boys to study English woll; not only would they find it a commercial advantage-for a boy who knew
almust was language the English
We are ukful to say that the past year has bon characterised by good health, steady progress and marked success
In July 15 pupils sat for the Oxford University Lucal Examinations of whout le passed, or 5 per cout.namely in the Senior, in the Junier, and in the Preliminary. The porcantage for the Colony was 3, and for England . L. le Breton was placed in Honours. The Lonal Souretary report states hat during the 15 yrs those ex- aminations have brou 'held in Hongkong, only on four occasions inve candidates attained Honours Three were from this School; the fourth was ä young lady, most of whose education was re- ceived in England. The School was taught on 215 days, and it is worthy of remark that 7 boys were present every day, and 7 others to carry on missed only one day. The average attendance has risen from 145 to 163, and is the highest yat altaine The number of boys on our books was 261, of whom 32, or 15 per cont., were Europeans; some of the latter went to England, lint only 4 luft us for the recently opened Row on Shool, 3 of whom lived at Kovicon and
at Bhankingu.
The Inspector of Schools was absent on leave, and on his retura late in the year the Gover ment decided that there need be no Grant-in-Aid Examinations in December, and, consequently this report does not contain the usual statistics. The School, however, was examined us manual by myself it Midsummer, sud the prizes are award- ed according to the marks obtained by the boys at that examination and throughout the year. The School was examined in religious knowledge by Rev. f. II. France, whose report is appraded. There is no difficulty in placing our boys in xitnations, as we bare numerous applicatione; in fact, the demand is often greater than the supply.
thu
"January, Mr. H. Jackson was engaged to assist with the younger boys, and Las done good work, especially in explaining From English lesson in Chinos March to August. Mrs. Arnold was absent on a well earned farleogh, and bas resumed her work, with renewed vigour. On August 13, Mr. C. R. S. Cooper arrived from a He is a trained and London Hard School. e-rliscated teacher, and has begun his duties with great beartiness. Mr. Sykes and Mr. Brawn are again rendered invaluable service, particularly during the first half of the year when the staff was, from various circumstances, The latter has taken seriously incomplete. charge of the Cricket Club, and infused his; owa enthusiasm inte the boys, and with the gordial assistance of the other masters has improved all the games and canbied us to win every cricket match so far.
At the close of the bathing season. aquatic aports were held at Stonecutter's Island (by kind permission of the Hon. F. H. May
presided
by Capt. Over
school
concert
and the first work of the Chinese boys
sule
of getting a good staation-but they would find it a great advantage to read the fine English literature which would thereby be thrown open to them. Another thing he was very pleased to sound it reflected very great credit upon
the
shake band's
Then the boys gava throe cheers for Sir William and Lufy Goodman, three cheers for the ladies, and three more for the beadmaster, the last being led off by Sir William
The school will be reopened on the 17th of February.
PRIZE LIST,
Oxford Local Examination Certificates: Senior: H. Jackson and H. H. Steungman; Junior: W. A. Blaaborg, E. C. Hager, P. E. Hastings, A. H. Mackenzie, and A. Melbye; Preliminary L. le Breton (3rd Class Honoural, E. L. A. Arauk, C. R. Blumenberg, A. E. Moyhing, and U Wai-tak
Class prizes-Standard VII: H. H, Strang. max and P. E. Heslings; Standard VI. U Wai-tak sud L. le Breton; tandard V: B. Weng and Lam Sang: Standard IV: Wong Shin-choung and Chan Yan-hong; Standard III: Cheung Kwan and R. J. Hastings; Standard II: Geo. Wong and Sun Sia, Sta- dard I: Lam Yan-yuen aud H. Anderson.
SPECIAL PRIZES.
THE CURRENCY QUESTION.
in India, it is well known that the financis) and economic condition of that country is to-day much improved, as compared wth the period immediately preceeding the closing of the mints, and this in spite of years of plage, pestilence, sad fauine. For proof of this Lord George Itamilian's reply to questions on the ludian Budget (Straits Times, Nov. 21st, Wire Nows), in which he dwelt on the revival of prosperity in Indiay as indicated by the increase in revenue, and started that the estimated sarplus for the Handret thougnun pounds sterling). current year was £1,804,000 (ene million eight
It can hardly badoubted that this improvement is due, in a great mearuro, to the fact that india now possesses u prasucally stable currency. It is a well known fact that, before the closing of the mints, the Government of India was in such faucial straits that it had serious difficulty in meeting its Leme charges, a sterling liability, and therefore, in the framing of a imates in a silver cu rency, an unknown quantity. A local instance of the effect of. exchange fluctuations on silver estimates occurred recently. ti.. the supplementary vote for the last in exchange 93. H.. the Governor's salary.)
Io enable the Government of India to make both ends meet there were two alternatives :—
(1) A fixed exchange.
Lucreased taxation.
EASTMAN'S
FILMS.
3
KODAKS AND ACCESSORIES
DEVELOPING AND PRINTING UNDERTAKEN.
GOOD WORK. PROMPT RETURN.
WE HAVE AN ESTABLISHMENT SOLELY DEVOTED TO EXECUTING WORK FOR AMATEURS, AND WE HAVE LARGER AND BETTER FACILITIES FOR DEVELOPING AND PRINTING THAN ANY HOUSE IN THE COLONY.
Incresund taxation, mora especially coupled ACHEE
with a steadily falling rate of exchange, would have brought about one or both of the following results:
L
(a) Decreased purchasing power of the population.
(b) An increase in cost of labour, and consequent increase in cost of food and of raw products.
Either resalt would hayo reacted on both the import and export trades, and on the maniacturing industries, und, by diminish- ing, or preventing, the expansion of trade, Would have brought about the opposite of the desired result. Consequently the Government of India was compelled to adopt the other alternative, ris., dixity of exchange, the reselle of which have been, as already shown, alistac- tory. Whether the methods adopted to secure fixity were the best that could have been devised is a matter on which exports disgroe, and which need not by discrssed here.
THE CABE FOR FIKITT. The case of the Colony is less analogous to that of ludia than is the case of the F. M. 8, the chief difference being that the Colony is little more than an entrepot, importing the produce which it afterwards exporis: like the F.M. S., the Colony importe the bulk of its food supplies.
Those differences, however, make the case for
17A,
& CO.,
PHOTOGRAPHIC GOODS STORE, QUEEN'S ROAD CENTRAL.
FEW DOORS FAST OF HONGKONG HOTEL.
Hongkong. 15th November, 1802.
VICTORIA
LITHOGRAPHIC
[39
་
PRESS.
3, DUDDELL STREET, LITHOGRAPHIC AND MUSIC PRINTERS, PAPER AGENTS, &c.
MACHINERY FOR PRODUCING FIRST-CLASS WORK. EACH DEPARTMENT UNDER TRAINED EUROPPAN SUPERVISION, LATEST
AGENTS FON--
MESSES. PARSONS BROS., PAPER MERCHANTS, London, New York, and Sydney.
166 Leading lines kept in stock.
cedure of the Hague Tribuni is largely shared ' LATE TELEGRAMS.
by England.
Captures of Venezuelan coasters contiano. London, 31st December. After a three days' baitle President Castro's troops occupied Barquisimeto, that had been hitherto held by the Revolutionists.
NEWS VIA CEYLON AND RANGOON.
THE DELHI DURBAR.
when
Borabay, 28th December.. The Duke and Duchess of Connaught arrived in Bombay is H.MS. Renown on Saturday. On landing they were presented with an address, forget the happy years spent among them replying to which the Duks said he would never in command of the Bombay Army, nor the cordial musver in which they had received him on more than one occasion since he left India. Bombay and the greater part of the Indian Empire bad been through a terrible time of plague and famine, and might God grant that the fearful calamity was over and that a bright and Luppy futurs was before them. The routs. from the station was lined with troops and cheer.
There was great enthusiasm lt for Delui shortly after 5 o'clock. everywhere. The Duke and Duchess and party
Scripture --Standard VII: A. Molbye; Standard VI: Cheung Chi; Standard V E. Law; Standard IV: J. Crolins: Standard II1: Lam Toi; Standard II: Geo. Wong; Blan- dard I: H. A. Parker and She U-pan.
Standard VIL: Mathematics, H. H. Strang. mau; Shakespeare, A. Melbye; Drawing, A. I. Mackenzie Essay and Shorthand, E. C. Hagen Standard VI Mathematics and Physiography, U Wai-tak. Standard V: Mafizul standard stronger, for the more our thematics, B. Wong: Physical Geography and currency depreciates (and it is impossible to say May Drawing, E. Law, Standard IV: Algebra, where it will stop) the moors the Colony has to Wong Hong-shing; Physical Geography, pay for its food supplies, for its clothing, for to European and Asiatic aliko, increases: this Wong Shiu-Cheung: Map Drawing, Fong Lin. everything: in other words, the cost of living, Standard III: Music, J. U. Palmer Good
results in higher wages for labour of Conduct, W. Thom.
all descriptione, mazual or mental, bukilled or unskilled, increasing steadily the cost of handling oar important entrepot trade.
Opponents of a fixed standard profea to fear that "fxity of oxchange would hamper the expart trade of the Colony and the F.M.S. Now, as the Colony produces practically nothing. but buys its exports from surrounding countries, it would, if those countries continued to useing crowds. silver, still be able to ship as cheaply on a fixed standard as on a silver basis, while it would be placed on a more advantageous footing than at premant in purchasing from those surrounding Countries which use gold. Moreover, nearly all the Colony's chief exports are specialties, produced only in countries surrounding the Straits Settlements, and shipped from Straits ports because those parts are the must con- venient collecting centres in the neighbourhood. and are on the maju line" ulteration in the carroney will not affect the geographical position of the Straits ports, The principal export of the F.M.S. is tin, which article, directly or indirectly, produces the greater part of the reveans of the F.M.S. If the prosperity and success of the export trades of the Colouy and the F.M.S. are dependent upon the fluctuations of silver (mostly downward), thes, trades must be in zn aukealthy condition and the capital sunk in them would be much better and more safely employed eleebere, If the said trades are healthy, then it follows that their well-being does not depend on the downward coarse of silver The fear that the tin industry of the F.M.S. will be damaged by fixity of exchange is manifestly absurd, considering that the F.M.3. produce about two-thirds of the world's supply of the metal.
The question as to whether or not a gold, or fired, standard should be adopted for the cur- rency of the Straits Settlements and the Federat- ed Malay States divides itself into two heads:
(1) Is a gold standard, or fixity of exchange, desirable?
(2) Is it possible to establish a gold standard, or fixity of exchange, at a cost which is not prohibitive, and if so, what form should the ourrebey take?
It is not proposed to discuss the question from the standpoint of trade statistics, because exchange is only one factor out of many, such a supply and demand, full or short crops, alteration of trade routes, competition; eto.. eto.. which influence the volums and value of trade. These factors so confuse the result that it is impossible to say how much of an increise in a given trade is due to exchange, and bow mach to the other factor. Consignently it is ugually impossible to prove anything in con nection with excimnge from trade statistics, One side will hok? that a given result is due to the influence of exchange, while the other
will maintain that it has come about in spite of that influence, neither proposition being capable of proof.
18 GOLD BESIKABLE?.
With regard to the first bend, Is a gold standard desirable?"-looking at the question from the broadest point of view, it is generaly admitted, and it is the experience of most of the great trading countries, that a sound and stable currency, by encouraging the importation of capital (where needed), and by securing capital against loss by depreciation of the currency, encourages trade generally.
It is also generally admitted that capital is required, both for the Colony, and for the de- velopment of the Native States, and that the un- cortainty as to the future of silver keeps it away.
MOROCCO.
London, 3th December. The British Minister has instructed the
Consuls to recommend British residents and travellers to proceed to the count towar
London, 1st December. Great Britain sud France bavo assured Spain that they have no intention to act precipitately. They desire the maintenance of status quo even if the Sultan is deposed Four British warships at Maita are proceeding to dibraltar in connection with the Morocco erisis.
*THE BALKAN-.
1 has
London, 28th December. Count Lamsdorf has conferred with the party leaders of Servia, asking their views regarding He is doing the same at Sofia, where he is receiving frantic ovations, Macedonia.
Calcutta, 30th December.
London, 29th December. The Viceroy entered Delhi in state yesterday.
Count Lamsdorf received three Macedonian Revolutionary There was an extraordinary gathering of people deputations, including the in the streets. On the talconies and roofs of Committee. All petitioned for reforms render- and the appointment of a Christian Governor house there was a bewildering concourse, the ing life for Christians in Macedonia bearable, ten eager to keep their faces veiled. The to the Legislative body. Count Lamedori roofs of the houses being thronged with women Chandni Chowk presented a wonderful spectacis, counselled patienes and enlmness. It was lined by the red costs of the Bedfords, proceeded to Vienna.. to Europa. An
AN M.P. DEAD, backed by innumerable crowds. The houses were
London, 29th December. Mr. Higginbottom, M.P., is dead. decorated with buuting The viephants and
8. W. Higginbottom, M.P. (C.) West retigues of the antire chiefs were mustered ou the Maidan near the Jumma Masjid. The roads in the vicinity of the Musjid were lined Division of Liverpool since 1990; Alderman of with seats, and the great steps facing the Masjid city of Liverpool: Chairman of the Electric Road were occupied by a marvellous multitude Power and Lighting Committen of Liverpool Corporation; also a member of the Parliamentary of Europasas, end of Indians dressed in an in- conceivable variety of colour and costume His and Tramways Commitees of that body: Chair Excellency the Viceroy was in Court dress, man of West Derby Divisional Council; large while Lady Curzen's dress gave a fleeting im- land and colliery-oper in North Wales, pression of white, silver, and mauve. bants from Benares, and were followed by the Viceroy and Lady Curzon were seated on elep Cheshire, and Lancashire; and shipowner.] Duke and Duchess of Connaught on elephants from Jaipur. Then came, an gorgeous animals, the ruling chiefs, 54 in number. They passed sion, and so quickly that each spaelator could at an even, rapid pace, without gope or confu- The Government establishment charges, both only feel a vagn, dazzled impression of gold of the Colony and the F.M.S., are now practi- and silver in barbaric splendour and fantastie cally paid in sterling, while the revenue is design. The whole prosession took an hour and collected in silver (the same remark applies, to a half to pass. Owing to the good management a dess extent, to the Municipalities). These it went with a precision and smoothness that charges are therefore no unknown quantity in was in the spectator, especially the European, a the estimates, and, a silver depreciates, become dream of glory, and a feast for the eye, the progression of the beautifal exciting their sar- an ever increasing burden.
prise. It is difficult to say what it all meant to the natives.
to
The
AUSTRIA-HUNGARY,
London, 30th December. The laborious negotiations of the Austrian and Hoogerian Premiers at Vieuns for the Customs Trade Affisure between the two countries appear to have conclusion of a proved abortive. It is reported that both Premiere will tender their resignations. Maltors are expected to reach a crisis to-day.
RUSSIAN INTRIGUES IN PERSIA.
Landon, th December. The Koelnisch Zeitung's Tabriz correspondent states that a connassion for the construction of a new road from Tabriz to Kazvin has been granted to u Bcasios bank. This rond will enable a complete stoppage to be put on the importation of English goods into Azerbigan and Northern Persia. The Crown rince of Persia's Russian tator has acquired predominant influence with his pupil.
toaching staff-was that 80 per cent, 12 out of 1, of the boys who went up for the Oxford local expiantions had passed. This was very credit- able. He was sorry that Mr. Le Breton was ant with him for the distinction he had gained in present. He would have liked passing the Oxford examination with Honours. Men Breton was the fourth Hongkong buy We take from the colanus of the Straits in 15 years who had passed in that class. UiTimes the following interesting and important the four obtained large had been got by contribution to the discussion of the currency scholars of that school. That shoyed that question:- there must be sou very oreellent teaching dono there. (Applause.) Then he was very glad to no from Mr. France's report that the religious knowledge was so satisfactory. In 1900 and 1961 the chairman of the meeting was the Lord Bishop of Vistoria and he recollected hira Haying to the boys what a great advantage it was to have religions deftina and not cas purely and simply secular. Next year, 1902, distinguished General-eir Willian Gasocigns -gave away the prizes, and he tokl tiem ust he had been a soldier nearly all his life and that the two great factors in a soldier's C.M.G.): the prizes were distributed at s ebarecter that made up success were discipline Stevenson, R.A. At the Hongkong Regatta and love of duty; and he also said that daty and in December, & crew trained by Mr. K. C.ligion went band in hand. There they had Witchell, of the P.WD., compoted in the school- the opinion of a distinguished General Ho was afraid be could only give them the opinion boys' race, and followed close on the winuing of the Chief Justice of the Colony; and he boat, thus making a very orciting racs.
could only say that be endorsed every word On three occasions, lantorn entertainments
that fell from the Bishop and the Genoral. were arranged for the boys and their friends by
You may take it that as you get older you must Miss Pitts, Mr. W. J. Anstey, EN., and Revs.
have something to base your life apon and you J. H. France and T. Wright, and were greatly
must have a religion if you want to do well sod appreciated. On Boxing Day the boys and
conduct your life irls of the two Diocesan Schools huit a picnic not be surprised if the boy who had just won properly. He would by Jaanch kindly leat by R. Ostorns. Esq.1 to Capsaiman. Sports were arranged and prizes the history prize did not know that the Cen Commendants were at one time part of the given by the masters, and the outing wus
laws of England. It was in Green's History thoroughly enjoyed by all. Our thanks are dno to Lady Gascoigne for the gift of a large that King Alfred, just over a thousand Union Jack for the Reboot-room, and to the years ago, prefixed to his Code the Deca- logue and coriais other portions of the Hongkong Branch of the Nasy League for Law of Mose; and these wore part of books and pamphlets.
He could only The prizes have been again kindly provided the ins of the land. by His Honour Bir. W. M. Goodmann, K.C., say that if everybody kept the Ten Command- ments there would not be much awe of any Hon. Wei Yuk, Rev. F. T. Jobason. Mrs. Arnold, Mrs. Siobs, Moers. F. B. L. Bowley, criminal sessions in the Supreme Court. There One of the greatest. Chan Long-Liu, Choy Po-sien, D. Elphinstone, would not be any crime.
writors on criminal law had said that if that Fong Wa Chun. Ho Fook, Ho Tang. H. Humphreys, A. Mackis, A. J. Mackis. D. portion of the Church Catechism which dealt Nowrojee, Sin Tak-fan, J. Witchell. Any with your duty to your neighbour"--and that was simply eu enlargement of the Ten Com balance from the Prize Fund goes towards
mandments-were to be carried out and made supplying books for the School library.
The holidays are from Janas y 16th to the basis of the criminal law we would have no
crime at all and so falso witnesses and February 16th, "
least half the picsant work of the Supreme Court work not, require to be done at all. With regard to the scholars he said they On the 7th of January. I examined the
into three classes-lot, One hundred and twenty-soran boys, divided these who had worked hard to gain a prize Diocesan Boys' School in religious knowledge might be divided into seven forms, were present. In the first and had succeeded; ud, those who had worked hard to gain a prize and had failed; 3rd, those and second forms the examination was con. ducted orally; in the maiting forms, by who had not taken the trouble to work hard, who bad not even tried to gain a prize and had
It has been alleged that the fixing of the means of written papers The answering in
no desire to do any work they could comfortablys.us of the rapee at considerably over its the two lower forms was ready, full and
silver value has adversely affected the export accurate, and showed that the boys had avoid dolog. As to the 1st class. he was glad to
Beo many of then there and he congratulated them trade of Indis, and the present condition of bean very carefully taught. In the five upper
on their success. As to the 2ud cless they had the ten sud indigo industries of that country formus, the papers showed an amount of merit
a school his warm sympathy, but they must remember has been instanced as an example of the evil which would have been remarkable in where English was the mother-tongue of the if all gained prize, prizes would not be so much effects of an approximately stable surrency or scholars, as it is not in this Sehool. The fourth worth having. They must not he discouraged. rather of the artificial maintenance of the rupeo at a valus above its silver value.. It form is the lowest in the scale of attainment, If they did get a prize now they might next time,
is open to question whether the present but it is low only by comparison with the general and certainly their hard work had not been high standard of the School. The meanings of thrown away. They knew far more than if they condition of theas industries is not due, in the ease of tea, to increased production sad special words in the Catechism was the object in bad not worked. As for the 3rd class he did
not see any bor specially arxions to claim competition of other countries, and in the which the lowest marks were obtained, tut in
mombership (laughter)-and he could only say case of indigo to the competition of the many cases in the other subjects nearly 100 per
that success in life could not be gained without artificial dye, as much. as if not more than to cent, of the marks obtainable had been gained,
the raising of the ropes to the value of 1/4d. The examination reflects the greatest credit. work. A schoolboy thought how grand it would
It is understood that the force landing at on the industry of the boys, and the ability and be to leave school and bea young man, but bewould It would be interesting to enquire into the
he market never responds readily to a fall find he was only exchanging a small school tore condition of these industries at the time when patience of the mastors and the teaching staf.
much bigger oue, and a much harder one.
the actual silver value of the rupee was 14d. in exchange. Only in certain practically non- Obbia will only prepare the base of operations. J. H. FRANCE, M.A.
Bol, granting that the firing of the rupee competitive lines of standard goods can pries A general advance is improbable before April. The CHAIRMAN then presented the Oxford riz, the world. The world makes no allowanced local certificates and prizes to the successful and gives no prizes for inferior work. She has diminished the dividend-paying power of be raised immediately to compensate for a fall Italy does not participate in the expedition, tes and indigo concerns in Judis, their capital in exchange: with most woods it takes a long although attacking several naval and military 61 the conclusion of this earemony advised idlers at school to tarn over students.
new leaf while they bad time Since he is secured ut a fixed value. This is a very con- time to get prices up to the currency equivalent officers.
London, 30th December. and aftertho choir had sang "The Old Folks at
was there last the King had given him siderable set-off against diminished dividends, of cost, and thus, in the case of a serious full lo
Colonel Rochfort has gone to Abyssinia toi Home." the hairman addressed the gathering. For several years past it had toco his privilege, a prize, the Knighthood kindly referred to if, indeed, it does not more than compensate for exchange occarring between the ordering sad
such dimiantion: Take, for instance, eapital arrival of goods, the merchant finds that goods join the Abyssinian force which will co-operate IF YOU REQUIRE A PERFECT
against the Mullah,
Alahabad, 30th December. he said, to be a member of the committee. He by the headmaster. When he was at school
and they got a hamper from home they used laid down in 1991, at about 16 Exch. That ordered on a profitable basis result in a loss. considered the School to be a very excellent one.
It may be argued that what is good for the to like to share the good things with the other capital has to-day depreciated 11 per cent. Had
A special London cablegram to the Pioneer boys. All he could do to share his present with the rupee beau allowed to follow the fortunes imort merchant is not necessarily good for the them was to ask that they might have one extra of silver, the depreciation, taking silver at erex trade of the Colony as a whole. In the same says that letters from Somalilanil dwell on day's holiday-(applanse)--and be understood 234, would have been. 47 per cent., equal to wag, what is bad for the tea and indigo industries mountain guns with mule carriage, after year as he had done for the last few years, they had no objection nud, what was more over put tent, penonton. Hat the difference of Ipein is not, pecessarily bad for the trade of present guns are nine prandors, muzzle loading KING EDWARD VII that he thought Mr. Piercy, the headmaster, and his staff had every right to feel very proud important still, the hoadmaster and authorities in dividends amounted to this? Even if it has. India as a whole, and may even be good for it, weapons, which more at the rate of a mile a a
doing had been kind enough to grant his request that of the educational work they
their return to school might be fixed for the in the Colony of Hongkong. (Applause.) When therefore he was asked to go there 17th instead of the 16th February na originally that day and distribute the prizes he had arranged. So all that remained for him was to mach pleasure in accepting the invitation. As wish them all a pleasant holiday. to the report which they had jast heard read, applause.) ke was of opinion that it was a most satisfactory
The following is the report of the Examiner in Scripture knowledge:-
It supplied a great need in the Colony; it up
plied sound education based upon Christian principles, and be must say, coming there year
were
Loud
The choir again gave a song, "A Health unto
Those premises being admitted, it follows that the adoption of a fixed eurrency, by attracting capital, would have a favourable effect both on the general trade of the country, and on the revenue,
The F.M.S may to some extent be compared with Indi, inasmuch as both are producing and exporting countries. The most obvicos difference is that the F.M.S. import the bulk of their food supplies, while Indís produces nearly the whole of her's.
THE FIXEN RUPEE
other causes, already mentioned, have acconsted for at least part of the difference.
The fear of such losses on capital undoubtedly scares investors away from any and every country asing a silver burrowsy.
PROSPERITY OF INDIA. But, taking a wider view of the state of affairs
Calcutta, 31st December.
EFFECT OF BOLROWING IN SILVER. The Straits Government proposes borrow largely for public works. To barrow in
The Viceroy opened the Indian Art Exhibi allver, een granted that the large amount required could be obtained on a silver basis, tion at Delhi yesterday, and delivered an would mean a comparatively high rate of inter- excellent speech extolling the indigenous arte ast. Thereafter, the Government having of Ladis and deprecating the adoption by the scared mest, if not all, of the capital available on cultured peoples of India of the cheap and ugly silver basis, the Municipali ies and trading manufactures of the West. The exhibition, concerns, such as the Tanjong Pagar Dock Lord Curzon concluded, was intended as an Company, would be forced to pay still higher object-leason, meant to show what India cas rates for their borrowings. This would neces still imagine, crests, and do; and that the sarily react on the municipal rates, and the artistic sense is not dead among its workmen. trade of the Colony. Consequently it would be All they want is a little stimulus and cucour- much cheaper for the Colony, the Municipalities,gement. It is avant to show that for the and the trading companies, to berrow in gold, beautification of an Indian house and the and more advantageous to the trade of the establishment of an Indian home, Indian furni borrow in gold while ture was available, and that there was no need Colony.
in silver, would be an to rush to the European shops of Calcutta and selling revenue exceedingly risky proceeding, and if the Bombay, In almost every Indian State and Government est raise a gold loan they must Province and in most of the Indian towns, and exist artificers who can satisfy the artistic and have a gold revenue which entails a gold, or many Indian villages, still sarvi.es art, still fixed, currency,
atiliturinn tastes of their countrymen and who are competent to keep alive this precious inheritance received from the past.
Bat to
FALLING EXCHANGE AND IMPORT TRADE.
With regard to the import trade, the effect a trade gonds of a failing exchange ou purchased in gold markets, held for an inde finite period, and sold on credit, can only be disastrous. It is argued that the merchant au protect himself by covering exchange forward. He can do so partly, but only partly.
Bat the first essential for a successful and hour. healthy trade is that it stall be profitable: if it is'ont profitable, in the mass, it will eventually dwindle away, after efforts to carry on have been made, in hopes of better times, which efforts will probably end in a serious financial crisis.
(To be continued.)
GENERAL NEWS.
BOSALILAND.
London, 28th December.
VENEZUELA.
The
London, 29th Deceisber... The interest in Venezuelan affairs has abated. Mr. Chamberlain's tour and Delhi festivities are occupying public attention; but the disgast of Germany at the resort to the tedious pro.
TROUBLEN IN NEW GUINEA,
London, 31st December. Two European inspectors have been brutally murders are feared. A disastrous drought las murdered by the natives in Now Gaines. Other
ouased the natives to resort to cangibalism." Thenende are starring and are endeavouring 10 subsist on roots. Twenty-five natives were killed in a tribal fight.
THADE
TELEPHONE No. 135.
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