THE HONGKONG TELEGRAPH, WEDNESDAY, APRIL 29, 1891.
of the colony if, as is probable, it should shortly become necessary to raise a loan for Public Works.
at a heavy discount, is extremely inilgnificant as general trade between China and Hongkong compared with the total paid-up capital of local which are Taels 12358,50% for 1888, Taels Joint stock companies, which are at a premium, 118,046,381 in 1889 and Taels 125,844.901 fer and for the most part at a very high premium. 1890. Thus the value of cur trade with China After giving various reasons why the revenue Taking up the list of local enterprises pub actually increased last year by more than Taels was likely to dwindle, and why presumably if lished in the daily Journals I find that the shares 300,000 as compared with 1888 and by over confined to its present sources, it would he of the Hongkong and Shanghai Bank, with a Taels 7,000,000 (or about £1,750,000 sterling) as insufficient to meet existing charges on it, he paid-up capital of $9,300,000, backed as it now compsied with 1889. As also indicating that proceeds to say that the taxes are already very is by a reserve fund of over a million sterling: mention that from a return furnished by the the rental appear moderate, they are in reality the volume of trade is not decreasing way high, and that though mates at 13 per cent, an Arc worth now in the aggregats about $38,000,000. The shares of the two local Fire Registrar-General, it appears that in the first heavy, Inasmuch as rents are here about three Insurance Companies, with an aggregate, paid- three months of this year 174 Chinese shops times as high as in England; in fact he gives up capital of $800,000, are quoted in the one case were closed and 236 opened, shewing a favour the Impression in the outside world that the at goo and in the other at 300 per cent, premium. able balance of 63, and though ouing my taxation of the Colony is already exceedingly The shares of the local Marine Insurance Com being unable to get the similar return for former burthensome and that the Government relations panies, with aggregate capital of $1,350,000, are
years I do not count this balance as proof of with the people of Hongkong are analogous to quoted
at nearly 300 per cent. 150 per cent, and increase, I think the figures at least suggest the those of a landlord with rack-rented tenants. rod per cent. premium, respectively. Carrying probability that Chinese trade is not falling off. I venture to think that in this matter he has my eye down the list I find the Hongkong ed
Turning now the matter of Bank deposits given a very wrong impression; and in fact. Whauspon Dock Company shares (with a paid
1 see as little reason for alarm or despondency, speaking from experience which is by no means up capital of 1 million dollars) are at 98 per Having requested Information on the subject a narrow one, I can state the confident beifel cent. premium, while those of the Hongkong from the four British Banks in the colony, that, with probably the single exception of the and Kowloon Wharf and Godawa Company, enthat, as regards them, there has been not a exception, the people of Hongkong are less the answers obtained from three of them shew people of the Straits Setlements, that be an which an aggregate of $1,000,000 is paid-up, are now worth over $1.590 000; the China and decrease but an increase of deposits to the taxed, and probably far less taxed, than any Manila Steam Navigation Company's shares, extent of over $800,000. The only one of other equally er note important community in with paid up capital of $175,000, are at about the four which returns
the whole world having a pretention to civilised decrease, the amount 150 per cent.; and the $1,600,000 paid-up capital of which is not stated, is the Bank under Government. There are indeed within my of the Hongkong, Canton and Macao Steam the management of the honourable member, experience very few cases where on urban boat Company is worth $2,660,000. Similarly who in replying to my letter as Manager population has not to pay other heavy, direct or the shares of seven other companies (China reiterates his statement made as member of indirect taxes, besides all the rates and taxes Sugar Company, Hongkong Land Investment Council in respect of the decrease of "millions Company. Secidé des Charbonnages du Tonkin, of dollars," but in this instance limits it to
in an equal or greater degree which are paid by Hongkong Hotel Company, Humphreys Estate Chineng banks. Now on this matter of Chinese the Mother Country with which the honourable the people of Hongkong. To take the case of and Finance Company, A. S.. Watson & Co., banks I have made enquiries from high autheil-member bas Instituted a comparison in the Hongkong Ice Company) principally owned in ties, banking and others, as well as from the matter of rents. There are few, if any, important Hongkong, on which was originally paid Registrar General. The estimates thus received commercial or manufacturing towns in England $6,223,000, are now worth $12,940,000, which, varyi considerably in amount, but I am most where the rates are less than 5 in the of addled to the figures representing the paid-up inclined to that of Mr. Wel Yuk, compradore of capital and present market value of the Hongkong the Chartered Mecantile Bank, not only because independently, where it has nothern commuted, 35 per cent on the rateable value, and this Bank and the six companies just mentioned, it is the result, I understand, of careful enquires of some-19 in the inhabited house tax on the give a total of $12.010.goo paid in respect of at each of the Banks referred to but because it actual tental; and I was informed only the other shares which are now worth $56 777,500. This, represents a mean between the extreme estimates day by a proprietor of houses in the city of however, gives only partial view of the on either side, According to his calculation Norwich that the rates there were i8/-In the situation. A more complete view is furnished the aggregate decrease of deposits in the Chinese (90 per cent.) on the rateable value, or some to by the following statements and figures supplied banice as compared with 1889 iz about $1,000,00 per cent. on the actual rental. I do not forget to me by the Registrar of Public Companies the figures belog $6,000,000 for 1889 and what the henourable member alleges as to rents *At the end of the year 1887 there were 26 $5,000,000 for this year. Deducting from this here being about three times as high as in public companies whose shares were dealt to decrease the $800,000 increase in the British England, but there as in other passages of his the Hongkong market, having an aggregate banks, there is left $200,000-80 that there speech I am disposal to think that he bas paid-up capital of $25,233,000 and the market requires the large decrease of $1,703,000 in unwittingly used the language of hyperbole. No value of which was then $46,870,125. In 1888 ore unaccountable quarter to make up the two
doubt there may be found pinces in England, three of these companies went into liquidation millions which would be the minimum amoun where houses are cheaper by 3rds than here, but and a fourth reduced its capital by $175,000, and
to justify the honourable member's indefinite on the other hand I know well that there are at the end of the same year the 23 remaining
statement as to millions" of decrease.
other places where they are not only not cheaper companies represented a paid-up capital of
but considerably dearer than here, and judging $25,158,0co and a market value of $48,355,325,
specially experienced in this matter, I apprehend from what I have learned from a gentleman or an increase In the market value of the 13 companies for the year 1888 of $1,011,200. In
that the case would certainly not be understated the same year the shares of 13 additional com
if rents here are estimated at double those of Panies
were placed on the Hongkong market.
England for hss of equal size in equally representing a paid-up capital of $1,700,640 and
favourable situations as a market value at the end of 1888 of $5,596,000,
important centres of business. The mere rates regards similarly giving an increase for the year of 10 companies,
of Hongkong independently of the inhabited $2,634,640 in paid-up capital and $7,081,200 in
house tax are therefore certainly not above, market value. Thus at the end of 1888, there
and probably below, the average rates of were 36 companies with an aggregate paid-up
commercial towns in England, and considerably capital of $18,867,640, the market value of which
less than half those mentioned in the case was $53 951,325. Two of the companies (with
of Norwith an in this view it is scarcely a total paid up capital of $200,000) are now
necessary to point out that the rate-payer of being wound up, but the aggregate values of the shares of the remaining 14 amount at present to
tageous position than the English rate-payer, Hongkong is in an incomparably more advan- $64,421,050 skewing an increase (after deducting
For the latter has to pay in addition to his local $1,215,000 net increase to capital) of $8,874.725
rates not only all other taxes that are paid here as compared with December, 1858. In addition
in an equal or greater degree, but he has also to to the above 34 companies there are 30 new
pay income tax property tax, (in addition to the companies registered since December, 1888,
inhabited house tax before mentioned) servants whese shares are dealt in in the Hongkong
charge, besides heavy duties on his wine, spirits, lax, succession duties, sometimes tithe rent market. The total paid-up capital of these 20 companies is $13.602,310 and the aggregate
tobacco and tea, from all of which the Hong market value of this capital is $12,779,500
keng rate-payer is entirely exempt. Indeed if shewing a depreciation in the value of these new
it were fully understood here how heavy are the companies of 3912,810 as compared with the
burthens on people in England in similar paid-up capital. A further analysis shows that
positions with those of the people of Hongkong, of these ao companies the aggregate market
I am unable to conceive that there would be the value of the shares, of 5 of them is $4,809,940 in
same display of opposition to the increased excess of their total paid-up capital, while in 14
Military Contribution. For however unpleasant of the zo there is a depreciation to the extent of
it may be to be asked to pay for what has $5,627,750 below the paid-up capital. Of the 14
hitherto been obtained free or for a comparatively Intter companies 7 are new companies engaged
small payment, I do not think there would be in purely local business, the shares of which are deprecinted below patd-up capital to the
begrudged a contribution, which is after all but a small proportion of the cost of defence, if it extent of $596,000 only, and the remain- ing 7 companies, whose shares show
were understood that our fellow-countrymen at home are far more heavily taxed than we are, depreciation of $5,126,750 below paid-up capital,
and it were borne in mind that they are alone are companies whose businesses or enterprises
paying the debt which enabled Great Britain are situated entirely outside the colony. There are now therefore 4 public companies with a
and her people all over the world to maintain their independence of foreign domination, and paid-up capital of $44,074.950, and a market
bear, moreover, not only the whole east of their value of $77,200,550, as against 25 companies in 1857, with a paid-up capital of $26,231,000
own defence but in a very large proportion the. cost of Colonial defence also. and a market value of $46,870,125, and 36 com- panies in 1888 with a paid-up capital of $8,867,640 and a market value of $53,951,5as, shewing an increase in the last 3 years of 28 companies, $17,841.950 paid-up capital, and $39,330.425 market value."
I should mentida that the Registrar General derasis accompanies it with the statement that in forwarding his estimate of Chinese bank despite all losses, money is at present plentiful among the Chinese, and that the rate of interest among them just now is it cents per month per $100-this being scarcely over 5 per cent. per annum and is even lower than the rate among Europeans.
of our surplus balances, there would in all pro- bability be a considerable deficit by the end of next year, if we continue to defray out of Revenue the great drainage and water distribn tinn works now'in progress.. This, however, is not likely, and there is every reason to believe that the Secretary of State, when he has been placed in a position to estimate the condition of as in every one of the larger dependencies of the affairs, will sanction a loan for public works such Crown would have been raised long ago. What should be the amount of such a loan undertake to estimate. It, of course, depends on will not the extent of the public works which it may be determined to undertake. But I may mentior $50,000 the increase revenue from the New Cen that from statistics (urnished to me, I estimate at. tral Market, from the new or extended depôts for laundries, and at $11,000 that from the New cattle, sheep and swine, and from the public Water Distribution Works; making together $51,000; so that from these sources alone there would be sufficient to pay interest and 1 per cent sinking tund on a loan of $1,220,000 at 4
per cent.
All things considered therefore, though I am by no means sure that some of the increases of sainties do not require re-consideration, I am completely satisfied that with a very moderate loan for public works and in the absence of chcumstances impossible to foresee, there is every reason to believe that the ordinary revenue from its present sources will be sufficient to October, as well as the increased Military Con. cover the salaries, as Increased by the vote list tribution.."
I
expected some loss in the next sale of the As regards the future, though there may be
obtained for it under exceptional circumstances Opium Farm as compared with the large sum in 1869 (being some $146,000 per annum bigher paling advances in other directions: (1) If at than pieviously), there is good reason for antici this time of exceptional depression (from which beginning of improvement), the assessed taxes the facts above referred to seem to indicate the should prove to have fallen off as estimated only 25 per cent., I venture to think in view of the increasing general trade that there is good reason for believing that this loss will be very quickly compensated by return to a normal condition, even if there should not be, as I confidently anticipate, a lurther upward Pro progress in prosperity.) The revenue from profit in subsidiary coinage, so far from steadily to Increase. Owing to the exceptional shewing any signs of diminution tendr
institution of the Canton mint, I have been com- demand for these coins, notwithstanding the led to raise from $1,000,000 to $500,000 the annual requisition upon the Crown Agents; and if the Mint should be able to supply us with the amount, I anticipate that the revenue from this source for this year will be at least $90,000. (3) Rent from land must continue to increase in amount as further land is sold, and will even make a considerable advance this year. Indeed mount very rapidly, if, as I most sincerely hope, the permanent revenue from this source will
able portion of the premiums. There will always the policy should be maintained of permitting the commutation for increased rent of a consider be a strong temptation to abandon such a policy at a time like the present, when the current account is running low; but I am confident that it is the only sound policy, and that, if steadily the weight of taxation. And while refering te maintained, it will In the course of not many years render it possible to considerably diminish this matter of taxation, I think it well, on the eve of my departure, to correct an impression which I may have given in a recent, speech, as' to the possibility that any substantial increase of laxation would, by driving trade, aw ty, cause this colony to meet the same fate as the West Indian island of St. Thomas.
NEWS OF THE WORLD.
DUBLIN, March 27th.
brought suit against the Catholic Bishop of the It is announced that Captain. O'Shea has united dioceses of Galway and Kilmacduagh, the Most Rev. Francis J. McCormick, and against Canon J. O'Mahony of the Catholic dingese of Cork. Captain O'Shea sues the reverent gentlemen mentioned for alleged libelous utterances in regard to his relations with Parnell, which have been attributed to the Bishop of Galway and Canon O'Mɔhany in the publie
press,
ODESSA, March 27th, The winter wheat crep in South Russia is very unpromising, and small farmers are in a hopeless cond tion in consequence.
VIENNA, March 12th, Count Arthur Kesselstadt and Countess Anne in a squall. Freis were drowned today, their yacht capsling
A dispatch from Kupatein, a town of the Tyrol. near the Bavarian frontier, says that a prominent merchant was assaulted in broad daylight by ar Italian who, when arrested, proved to be a member
the Mafia. He killed the merchant detalled by the Mafia to put out of the way. The in mistake for a compatriot, whom he had been murder has created excitement, and a feeling of dangerous indignation is growing against the Italian society.
LONDON, March 27th.
FOOCHOW..
April 25th. After all, the amount of treasure sent up reached the handsome sum of $1,600,000, We country for the, new leaf to date has alrendy
usual number of buyers in the hills this season, can safely say that there is only hall of the therefore prices must undoubtedly be lower than those of last year.
As it is now necessary that all intending opium beside taxes on the land and the opium, growers obtain a license from the Government. many planters have given up the idea of plant- Ing poppy, as they fear, and justly too, that more trouble. than prc.fit will be the result of their labours in the new enterprise.
Reputedly owing to the bad state of the weather during the last few days, the price of rice has gone up some ten cents a picul.. The authorities should look into the matter and devise some rules and regulations for the sale. of this great article of fond of the whole Empire.. Many of these attempts to raise the price of this necessary article of food are the work of the retail denters alone.
The fire that broke out last Saturday night of small significance; some two bundred houses over the "long bridge" was not, as was supposed, and shops were destroyed...
On Wednesday about moon the second of the unur! series of fires broke out at a 'cook-shop Just above the bridge, on the Nantai side of the A German princely marriage is now mooted river. Luckily, however, it happened in the day. for the second daughter of the Prince of Wales time and was therefore more promptly tackled he Princess. Victoria, for whom it was last year than at night. The first fire engine on the scene understood a marriage was about to be arranged was brought over the bridge from the divrict, with the Hon. Thn Baring the clever and popular | magistrate'syamö^, another arrived from a foreign' then contemplated was that a dukerom should dred houses bounding the river, the salt godowns, eldes son of Lard Revelstoke. The plan hong, and both did good work. About one hun- and the fire walls at Messrs Hok Lee & Co.'s and the Ningpo Clab "joss" house were burnt. The "josses were taken out of the "js-house" with great alacrity, but unfortunately in the women and three men lost their lives. The crowded labyrinth of houses, destroyed, four Prefect, Magistrate, and their hook and ladder companies, did good service in arresting the spread of the fire, and also In keeping the crowd of ruffians that usually assemble. at fires, in order.
be conferred upon the head of the house of Baring and that his heir, being a marquis, File. Circumstances having made an end of this should become a brother-in-law of the Duke of
been sought by her cousin. Her sister, Princess arrangement, the hand of the young Princess bas Maud, who is now in her twenty-second year, the youngest daughter of the Prince of Wales, has been asked in marriage by Prince Willm of Nastau, eldest son and heir of his royal hightness the Grand Duke of Luxembourg. William is now in his fortieth year and arrange- ments are being made, It is said, to restore to his
which was confiscated by Prussin after the event of the enormous fortune of the Dukes of Nassa father and eventually to himself the greater part
of 1866,
Prince
the young Queen of Holland, now the richest
In the event of the death without children of heiress in Europe, the crown of the Netherlands would pass to the Grand Duke of Luxembourg. and the Princess Maud of England might thus
dochter of the throne once occupied by the daughter of James II:
The wholesale dry goods house of John Birrell & Co. failed to day. The liabilities are $250,000 and the assets are estimated at $215,000.
On Monday the Thistle was sold by James Cup under the old deed of gift. Bell to a German count. The new owner is wiling to race at New York for the "America"
Respecting the latter fire an eyewitness writes 5... "I noticed one fact which may possibly have been overlooked or not properly recognised by others, Messrs. Jardine, Matheson & Co.'s fire engine arrived on the scene very promptly after approach to the scene was densely crowded with the commencement of the fire, and although the
Chinese, this engine, in
a very short space of time, was safely piloted to an advantageous position for rendering help in extinguishing the He was protecting the interests of the Hongkong fire. This was due to the energy of Mr. Beande Fire Insurance and certainly deserves sincere thanks from that Company. A solitary European forcing his way through the crowd of ruffians and Foochow, is not in an enviable position, var is the cut-throats, which is always present at a fire in
risk to His life small"-Echo.
."
OF MEN.
The great 1,000 billard match between John Roberts, Jr, champion of the world at English THE ENGINES OF SHIPS AND champion, was concluded this evening. The billiards, and William J. Peale, the spot strake conditions were 24.0ro points up, spot barred Peale receiving 12,000 points start. Although Roberts played in a masterly fashion, he was the centest closed had only succeeded in running unable to overcome the big handicap, and when up a total score of 21,410 points. Peale's actual score was 12,000 paints.
PARIS, March 28th, General Foster, special envoy of the United
that his mission will he successful. General States to Spain in an effort to arrange a com mercial treaty, expresser himself as confident
Foster said that he expected to be able to return to the United States in May,
Now as regards land, which the honourable member says has fallen greatly in value, I do not doubt that as regards a considerable area of the less valuable land of the colony, there has been considerable depreciation by comparison with the lasted prices of 1889, but I question whe ther there has been any depreciation at all as regards what is of incomparably greater import ance, viz.: the large area of specially valuable land in Victoria. For though a seller of such land might not as readily obtain the same price as in 1889, 1 bave reason to doubt whether, unless under exceptional circumstances, the price on this point I will read what is said to me by to a buyer would be any less pow than then a gentleman, whose position is one likely to render him specially well acquainted with the subject:-"The value of Marine and Inland Lots has not in my opinion declined since 1888. The intrinsic values of town and suburban lots have increased within the last two years to the extent of $2,000,000 at the least by new build- ings and improvements. Even where no improvements have been effected. no husse pro- perty in Victoria can be purchased now, under ordinary circumstances, at a less price than in 1888. House property in the villages has increased In value particularly at Yaumati, and the only apparent depreciation is in suburban property which is occasioned solely from over-buliding. A great increase in rentals took place in 1888-89, owing to the great number oftwo-storied houses which were then palled down for the purpose of building houses of three stories in their place. During the period of pulling down and re-building there was a dearth of house accommodation and many families left the colony, pot being able to pay the higher rates demanded. I find that Chinese tradesmen formerly paying at the rate of $35 were compelled to pay $50 a month for rent or leave and lose their business, Then came the over-building, upwards of you new houses being built to meet Compared therefore elther with what may be rents followed of course, but I do not find that any regret. I might feel on this score is much much as their not coming here would cause abeyance till the surrender of Venezuela, An
a demand for about go houses. The reduction rents In Victoria baya decreased except in cases where they had been previously raised to an almost prohibitive extent, and there is no general Appearance of reduction in capital values."
B
Now though this gentleman may possibly be somewhat over-sanguine in his views, 1 myself have reason to believe them by no means far from the truth, and I know them to be correct as to the increased value of land in the villages. In any case they make clear that some of the causes of depreciation are entirely consistent with the absence of any general decline of prosperity.
ROME, March 28th. everything he possessed to his son, Prince Louis The will of the late Prince Napoleon leaves
PANAMA, March 28th.
force upon the Venezuelan frontier port is The recent report of an attack by a British fresh proof of the strained relations between the Governments of Great Britain and Venezuela. in regard to the boundary of British Gulana But there is no probability of hostilities between the two countries, for Venezuela is fully Government. The British authorities in Guiaan aware of the overwhelming power of the British are"aleo "Involved in a boundary dispute with Brazil, but it is their purpose to hold it in extension of British Galana by the acquisition of territory from Venezuela and from Brazil willl give a new impetus to British commence in South America.
BERLIN, March 28th.
To sum up the situation. While it must be 100,000. Presiming him correct, or as I think that in former years the funds raised for Light/ that nothing can happen for which they are
by joint stock companies is generally in a very owing to the great building operations of recent gives a very wrong impression to the outside completion of the Gap Rock lighthouse the Crispi, the ex-Italian Premier, that war was cer
In the month of March, the great and beautiful steamship City of Paris," while on hier voyago from New York to Liverpool, met with an accident by her holpless on tho son. She carried a large number which her engines wore completely disabled, learing af passengers, and great anxioty was felt conocrsing lor in Europe and America. How she was finally towed into Queenstown Harbour will be remombored by tho publio. found out how it happened, and repaired the engines,
""Well, what of it". you any,
"They afterwards
and no lives were lost!"
on
Tery true, but wait a moment. Because you never go to non, do you think the sudden destruction of a men aro! Did you ever lle on your bed at home, or ship's engine has no lesson for you? How shortsighted col in a hospital, helpless as a log? What allod YOU? Bome disease. What is disosso? It is accident to your vital machinery. What do the course. Suppose we say "repair" poa; it comes to the doctors try to do for you?
。 TO "CUTO"
you. Yes, of same thing, for
wo are kept alive and going by certain organs or engines inside the body. When they are out of order and work badly, we are ! when they stop, wa die. Do you see the fores of the illustration?
taste in my mouth, a allmy tongno, and felt langurs know, what was the matter with me. I had a bad "About five years ago I began to fool had. I didn't
and tired, and had no ambition for
work. My oppetite failed, and where I did cat, under wort of compulsion,
I had
had great pain after it. I
In I went way until the spring of 1888, when I had a very Hospital for some time. But I came out all wask, severe attack, and was treated in Bartholomew's
and a little later on I was so bad I broke down, som pletely, and look to my bed hatters now looked very serious for me,
this
may mention only suggested itself to me on From further enquiry into this question (which spar of the moment), I have been led to believe that any apprehension on this score may be entirely dismissed. Without troubling you with all the reasons which have induced this more favourable view, I may mention the principal one as being that the large size of the steamers which are ordinarily required to bring goods from Europe and America, would render it Im possible for them to conduct coasting work on any large scale at a profit, and that consequently a distributing centre, such as Hongkong and for which no other port would afford anything like And now as regards the financial position. eqral facilities, is an absolate necessity. And When I read the honourable member's speech am further told and believe that the present ton- at first intended to supply in detail the results page dues might be very considerably increased of an exhaustive examination of this subject;
Sometimes a man's machinery is narer right from but this is now impossible consistently with the nearly approaching the average of other ports,
tells about himself which will show what we mean. and might be made something much more
tha hour of his birth. Hors is a short story ano man performance of work absolutely necessary to be and yet all, or nearly all, the vessels which now dane in the short time before my departure, and
Ile saya: "Ono ship is narer weak because another is, called the figures of special success, or with the
come here would still have to come here, inas
but a baby may be weak because its parents wore, ar some other ofits. figures of all companies successful or unsuccess
lessened by the consideration that for reasons
its ancestors. It is spoken of in the them A Inse considerably greater ful, the figures of failure, or threatening fallare,
above given a general discussion on the financial
than
family that when I was an the increased tax.
aan fafant, I dia I nothing but Whether this view li
sleep. Now, a healthy infant ought to sleep most of are pury indeed, and it is to be borne in mind
position is only to an extremely limited extent completely correct, I cannot
the that the present is a time when, owing to losses
say; but I
play, err, kick, and take notice of things. My mother time, but not all the time. He should latigh pertinent to this subject of salaries, and that it
believe there is at all events sufficient truth In speculation, all such securities are probably
the consideration of the Estimates for rant. I additional revenue might not be raised, or had for other reasons be better postponed until it to suggest the consideration whether under their normal value, Now notwithstanding
was bothered about it, and saw the donlor, who ald it was owing to
to the sluggish state of the fact that the shares of most of these cam-
my Kver: Norar am able, however, to say enough to render it whether, with the revenue remaining at the the renewed war alarm and not to notice reports do. But lalerited dismes makes its mark sooner or The semi-official organs are advised to ignoretheless, I lired and grow up as millions of children panies were in Eg driven up by speculation to
clear that our financial positlan, though not a price considerably higher than at present, I
same amount, the incidence of taxation might coming from various sources, which indicate later, according to circumstances. wholly satisfactory, is not one which gives any not be more fairly distributed to the relief of the early aggressive acting on the part of France venture to think that from the point of view of
the general condition of the Colony. I observe Chairman of the Chamber of Commerce and by refuse to say more than that the intentions of more reason for alarm and despondency than rate-payers Attention was lately drawn by the and Russia. Persons high in official circles the share market, there is nothing pointing to any
the honourable member states that according to serious or permanent decline of prosperity; indeed aftera careful survey of the position at this critical
s question in Council of the Honourable Mr. Russia to abandon her attitude of reserve have the latest official information there will at the Whitehead, to the supposed necessity of a period I belleve that any competent and impar
end of the year ben deficit in our finances of Harbour Board, chiefly on account of the fact been for same time known to the Dreibund, and ial judge would say with confidence that the admitted (1) that a large sum of money has been business of the colony in so far as it la conducted lost to the Colony in outside enterprises (2) that say that such a statement without explanation very possibly under the mark, I need scarcely
Dues had been more than sufficient for the
unprepared.
The recent indiscreet assertion of Signor sound condition,
maintenance of the lights, and b cause on the years, the supply of houses is now considerably world; faasmuch as it leaves entirely out of Happily there are indications pointing in the in excess of the demand, and (3) that the value right not only the enormous. sums which have
would probably occur again; and, it is evident tain to occur during the current year, has elicted same direction from several other quarters. of land has "consequently fallen below what I
that the President of the Chamber of Commerce from official papers at Vienna comment to the Though the absence of returns renders it Impos.net indistinctly intimated as the inflated values sible to speak with certainty as regards Exports of 1889; yet on the other hand there are: (1) in ordinarily provided for by loan, but also lights as well as all Harbour expenses to be paid not to disturb the tranquilty of Europe. This In the last few years been expended out of (from the point of view of what I may call the effect that Signor Crap! is no longer in the
upon public works, elsewhere
non-local shipowners) would like the cost of secret of great events and has become incom and Imports, it is satisfactory to find that the the prosperous condition of all our leading omits to notice (which is for the purpose
ald petent to prophesy, and that what be ays ought shipplag statistics of last year point to an increas enterprises and industries, (2) in the la more important) that $20,000 of this year's surplus revenue from lights, it seems to be
from the rates. But as regards the alleged sort of dental, however, is not reassuring, as the ing Father than a decreasing trade. For accord- creased
of shipping at a time of expenditure which is estimated to cause this forgotten that besides lighthouses there are other sed quanthy
fallen statesman is known to possess ample Ing to the recent report of the Harbour Maries, unusual depression all over the world, (3) deficit, is also for Extraordinary Public Works costly services, such as the Harbour Masters Information regarding everything rela ing to both the tonnage of vessels entering and clearing the from Hongkong reached in the enormous Colony as evidenced by the Imperial Customs items of revenue (as to which however I should police, and the Observatory, involving a
increase of the regular trade of the Allowing for a considerable falling off in certain establishment, Harbour launches, Harbour the political and military powers of Europe. Bannot account for your condition. I now began to figure of 131 million tons-or considerably higher returns and considering all things (4) even in mention that the great fall in assessed taxes aggregate expenditure of some $80,000 per
think what was best to be done. Yet what could I do? than those of any former year and exceeding by the small decrease, if there be any decrease, in anticipated by the honourable member is, I annum, which are maintained for the benefit of to-day. He was escorted by fifty car-loads of his able sure for deep-seated and chronic complaints
DUBLIN, March 8th.
I bad heard of a medicine called Mother Brigal's Parnell made a triumphal entry into Sligo Durative Syrup, which was said to be a most remark appear that my anticipation of 1889 is shewing these things indications of distinctly favourable cent) allowing however, I say, for a considerable itself to be correct, and that trade in other direc promise for the future, and such. I venture to falllyg off in certain items of revenue, and in the If the above view is correct as to the impro the townspeople. Davitt and his supporters
abipplug, and which are principally main- tions is compensating for the deficit caused by think, as give strong grounds for the belief that matter of expenditure for the lacreased Military bability of shipping being driven away by the afterward made
blackthoms. He was received with cheers by never tried it, and why should I believe in it? Yet how strangely we are sometimes led into paths we emigration to Australia and the United States, and as on many former occasions in the history new
and for the payment under the
small tax that would be acconsideration whether Parasil.
counter display. The voting bare never travelled before on the subject of Emigration, I may of Hongkong in only the precursor of still further December salaries (amounting to some $90,000) it should not be imposed to the relief of other
for the purpose, classes here, were unmistakably hostile to About this time I picked up a newspaper, and mention that the accounts recently received of increase of prosperity at no distant time. It which in previous years have been paid in the forms of taxation. If, on a principle which I fight with blackthorn sticks took place on the decided to risk it, and sont over to Mr. Dyer, the read of a care similar to my own that had been enred condition of the Chinese in Mexico are so may be judged, therefore, from what I have said following January, I am of opinion, as previously understand is in force at Shanghai, verstis
Previous to the arrival at Sligo of Davitt, as the writer sald-by Mother Baigel's Syrup, I favourable, that if they should be confirmed that I do not at all share the gloomy anticipations stated, that the deficit will at the end of this should be exempted from payment more than eps of the Town Hall. Subsequently Parnell olemist, in Acre Lane, West Brixton, and 'got a think it only sight that the Government should of the honourable member. You no doubt have year be considerably more than the $100,000 OBCO in three months, I apprehend that the complained that he had been assaulted during bottle, and in ten minutes after taking the Arel don desired to conduct from Hongkong. It is true, Chinese processions, la order to make a more amount of $820,000 were to be expended on encourage the emigration thither which it is frequently observed that the organisers of mentioned by the honourable member, if the full now tax would fail Hghtly or not at all on the the affray by one of the residents of the town,
informed, that Mexico will welcome all imposing show of followers, will engage coolles Extraordinary Publ Works. But judging from far the larger benefit to the Colony, and world which Parnell claimed to have been assaulted,
local vessels which contribute proportionately by
struggie on the steps of the Town Hall, fo the free Chinese which can be sent there, I shall whose labour-solled rags are barely hidden by the rate at which the Department works I am be felt as little or nothing by the people of this the police, finally overcame their opponents health. I am a Dow man. I never was in better "In my arcftemont and satisfaction I declared, This is the right thing! expect that to no long time the trade which will coats thrown over them resplendent fa gold and disposed to think that this estimate of expendi. community. I throw out this as possibly
was a fierce one, but the Parnellites, assisted by "After taking als bottles I found myself in perfect- spring up with that rich country-rich I mean and colour. Now it seems to me that the ture would have been considerably beyond the use suggestion for the future, and I may adt/ On returning to his hotel Parnell made an at- j haith in my life, and all the members of my family in lis soil and its minerala-will not only equal honourable member has reversed this process, mark in any circumstances. And in view of the that any advantage bich might otherwise but surpass all that has been lost by the restric and has succeeded for the moment, but
tempt to deliver a speech from one of the think of my sure as all the more wonderful owing to live laws in the United States and Austrails trust for the moment, in throwing a squalld Peak Residence (the prosecution of which if it were empowered and required to raise from Davitt, on the contrary, was welcomed to the (Signed) W. Goldspink, 120, Aars Tans, Brixton, and
only I fact that some 1
me new works, such as the Governor's accrue from a Harbour Board, would be increased the booting and yelling of the McCarthyites. Mother Seigel's Syrup, and what it did for ine," windows, but was compelled to desist, owing to my Thoring suffered with liver complaint from my But, however, this may be, the correctness covering over the brilliant uniform in which abandoned immediately after my return to the ships all the funds which have to be expended town with the utmost cathusiasm,
Infancy, will gladly answer any inquiries about of the indication from tonnage that the volume Hongkong usually appears to the outside world, colony), will not be proceeded with for the present, of trade is increasing was sigually confirmed and which I shall still venture to believe is and that there has been a temporary ecauation only the other day, since I began the examination rightly belonging to her.
10, Tachbrook Street, Pimlico. And now having touched on all the points of
CORK, March 28th. of all new public works in consequence of this question which appear to demand attention,
Mr. Goldspink is a pork butcher, and is well known Chinese Customs for the last year (lot a copy of i colony, which the honourable member regards | I question than a very small deficit even if, with the sincero expression of my picaruia that I O'Brien and Dillon, at Tipperary, to-day For this aimcat.unirasi malady--often mistaken for· Before coming to the financial position of the the recent telegram from the Secretary of State, I commend these remarks to the careful cony Dalton and others, charged with rioting and mess of the liver he suffered from deepested The Jury. In the trial of Michael O'Brien, and highly respected. In addition to his inherited. which I am indebted to the kindness of Sir
whether Robert Hart and the local Commissioner), invidious may be the duty, of touching on as I scarcely anticipate, the whole increase of are able on the eve of my departure from the announced that they were unable to agree on a
s so unsatisfactory, think it right, however will be more
at the end of the year there aideration of the Council and the community, assaulting the police at the time of the trial of indigestion and Idyspepsia, with an acouts attack Though I have not had time as yet to examide
constipation, dangerous and pin fatal complication. of Carefully all the figures, it suffices for any purpose homearable member's statements, if left without proved by the Secretary of State. As on the sufficient ground), so favourable a view of lis | rendered a verdict of not gullly as to the other testimony of witnesses from John O'Groats to Amed'É Another subject, akin to it, respecting which the salaries voted by the Council should be ap- Catony to take, as I venture to think, on very verdlet in the case of Gill and Dalton, but be died upon, Look in the papers and read the other diseasesBeigel's Brrip in the caly remedy to to jaks the figures shewing the valve of the }'erillelem, would de a serious injury to the credit I other hand there is likely to be title of one left condities and prospects
1800
revenue
the
was in great spons. I had pains all over me, but The first doctor who came to see me was not able to give any relief, and my people fetched another,
condition had become alarming. I got worse, and more particularly intenso. The bowels were stopped or constipated and the doctor seemed puzzled. One day he said,
in the bowels, whero.ihe pain wa
1,000,000 tons those of 1889. It would thus the Bank deposit accounts-ibero are, I say, in all understand, in fact not likely to exceed 29 Petained out of the ordinary taxation of the Colony supporters from the rural districts, armed with | where all other remedios were unavailing; but I had
A
the decaying tea export, and the stoppage of any depression that exists is' merely temporary instructions during the current year of I think it to be well worth
the
sa i
11
of this question, by the statistical report of the
for their benefit, peab 20
Th
;
Ifall
collag