*
MARINE INSURANCE CLAIM,
A "ZAFIRO" INCIDENT.
THE HONGKONG TELEGRAPH, SATURDAY,
SIR ROUERT HART, DART, INSPECTOR-
GENERAL OF 1. M. CUSTOMS.
PRESENTED TO THE WAIWUPU (BOARD OF FOREIGN AFFAIRS).
(Specially translated for the North China Daily News.)
1905.
5.-After the opening of the Mint, an Im- perial decree should be issued prohibiting the limits of the "Imperial Mine. A certain limit circulation of any silver-currency within the of time must also be given for the stoppage of circulation, as money of the realm, of all silver sycee and silver ingots hitherto passing current as money, and granting permission to the possessors of such silver to take them to the
in addition to expenses. Therefore it was not a GLIMPSE OF EAST SUMATRA. constructive total loss, as according to the evid ence it appeared that such part of the cargo as
Nowhere do we find a better illustration of was not absolutely destroyed almost escaped the saying that, whilst oceans unite, seas divide: DY injury. He further maintained that plaintiffs' In the Supreme Court on Monday the Chief notice of abandonment was unjustified by the than in the comparative isolation of the N. E. Justice, Sir W. Meigh Goodman, sitting in circumstances under which it was given, and coast of Sumatra. Only eighteen hours away original jurisdiction, heard a claim, brought by that le was altogether ineffective. Counsel from Penang by sea, it is seldom visited save the Kwong Chun Hing firm against the Hang quoted various authorities showing that the by people whose business calls them thither, Yet there is much that is of interest to the now- On Marine and Fire Insurance Company, for Courts were specially strict where goods in
comer, who, ere he leaves the steamer at $3,725.43 due upon a policy of insurance. Mr. question are perishable as in the present case
Belawan, cannot fail to observe that officialism Morgan Phillips (instructed by Mr. C. H. they were admitted to have been, and proceeded is the dominant note of the Dutch administra Beavis, of Messrs. Wilkinson and Grist) to observe that plaintiff's story about a special
tion: Everyone has a uniform from the appeared on behalf of the plaintiffs, and Mr.
agreement entered into with the Company" oppas" or mata-mata, with his red cuffs and E. H. Sharp, K. C. (instructed by Mr. F. B. agent in Manila to accept the loss as a total facings, to the men in the employ of the opium Deacon, of Messrs. Deacon and Hastings) re- loss, was absurd. Notice of the damage was presented the defendants.
not given to the defendants till six weeks after farm. After passing the customs, a pure for According to the statement of claim plain- plaintiffs received intelligence of the accident, mality for Europeans, the efficient but expensive tiffs were interested to the amount of 5500 and the perishable cargo had then seriously little railway carries one across the fine girder under a marine policy of insurance, and made deteriorated, and the insured was no doubt bridge spanning the Whampoo river, through silver money, even, has no uniform weight or int to exchange for the new currency accord. I special laws against the immigration of even
dense mangrove, swamps for some five or six by the defendants for that amount, June, 1902, anxious that the company should regard the miles, till one reaches what may be considered dated 22nd on certain perishable goods shipped loss as total. But what insurance company,
torra firma, and the wonderful fertility, of the on the British steamship Zafiro. According to
he asked, would accept the loss of 119 pack the particulars of claim, the goods were shipped ages out of 314 as a total loss? The defendants' soil is at once apparent and the patches of tobacco remind the traveller of the Kentish from Hongkong to Manila, and $13.75 pamium, agent might well have advised plaintiffs to sell Vegetables, sugar cane, yams, pumpkins, and being at the rate of 25 cents per $100, was paid the goods and then send in their claim, which
market gardens. Medan, the principal town. to the defendants. The goods were insured should properly be one for partial and not total
respects, can give points to the British against perils of the sea. There was a total loss. The effect of the evidence given in Ma is a beautifully laid out spot and, in many nila was to show that this was what actually administration. Everywhere the national love loss as to part of the goods, and a constructive loss as to the remainder. Notice of abandon- occurred.
of neatness, decency, and order is carried ment was given, shortly after the Zafiro arrived at Manila, by the plaintiff's repre-
out as far as is possible in dealing with an sentative to, the defendant's agent at that
Asiatic population. But one is apt to forget that all the small townships here are essentially different from those in the Straits Settlements port, and the latter agreed to take over the damaged goods as a total loss, and requested the plaintiff's representative to dispose of same
in this way, that they are not entrepôts but account of the defendants. The goods arrived at Manila, it was found that some of exist solely for the planters and, therefore, increasing from year to year so that silver has
partake more of nature of an country town without any important manufac ture or industry close at hand. The plain or "maidan" is a beautiful piece of green sward kept in fine order and surrounded by a broad walk well shaded by trees. Goal posts are there for football, but the game does not seem to be very popular, tennis being in more favour with the residents. The Club is close at hand but, as a new building is in course of
on
ment of expenses, the net sum of $2,097.21, leaving a deficit of $4.402.78 of which amouni $3,725.42 was payable by the defendants. Plaintiffs therefore claimed $3.725.42 and interest from the 29th June, 1907, to dale of judgment.
The defendants, in their statement of defence, admitted that plaintiffs were interested under a policy of insurance, the particulars concern ing the voyage and perils insured against, and that part of the goods covered by the insurance policy were damaged on the voyage. But the remainder of the goods, they stated were deli- vered to the plaintiffs at Manila in (as defendants believed) sound condition, and the plaintiffs neither gave nor were entitled to give notice of the abandonment thereof. As to the second part of the statement of claim the defendants asserted that they did not by their agent at Manila, or otherwise, agree to take over any of the goods, nor requested the plaintiffs to sell the same on their behalf or at all. The defendants did not know bow the plaintiffs dealt with the remainder of the goods. They were, and always had been, ready to pay to the plaintiffs whatever sum was due respect ing the partial loss of the goods, and re peatedly asked them for an account of their claim in that regard, but, plaintiffs refused to furnish it. The defendants stated they would now pay the sum into Court, but by reason of such refusal they were unable to ascertain the amount thereof. By virtue of an order, dated 16th ult, a clause was added to the statement of defence showing that by particulars furnished the sum due from defendants to plaintiffs in respect of the partial loss was shown as, $2,200, and on that day defendants paid that amount into Court which they stated was enough to satisfy plaintiff's claim.
Mr. Morgan Phillips, having read the plead. ings, said it seemed to him that the sole issue before the Court was whether there was, after the arrival of the Zafire at Manila, a legal
abandonment of the cargo to the defendants. On or about the 20th June the Zafiro left Hongkong, bound for Manila, having on board about 314 packages of goods shipped by plain- tiffs to their agents, or house, at that port, and those goods were the subject matter of the insurance and the present action.
His Lordship:-By the payment into Court of the $2,200, the only difference appearing is as to the sum of $1,525.
Mr. Morgan Phillips-Yes, my Lord. Mr. Sharp-And upon that I think I may say, we do not state the $2,200 is correct as your Lordship will see from the correspondence, but that it is the amount shown to be due by the particulars which have been given us. There was a further partial loss and, as the correspondence shows, that upon receiving particulars of that we said we would pay it.
Mr. Morgan Phillips having replied, His Lordship, in giving judgment, said this was a claim against an insurance company where goods had been damaged by the strand. ing of the Zafire and the entrance of water into the bolds. As a result, when the steamer
smell that the Customs House people ordered a part of it to be taken outside of the Philip- pine
Islands and dumped beyond the three-mile limit. That was done, and as re- gards the 119 cases there was no doubt that they were lost utterly. As far as that was concerned he understood the matter had been settled and there was no question arising in connection with it. There remained the balance of the plaintiffs' cargo, some of which was apparently quite good and some, according to the evidence, slightly damaged. Under those circumstances it was quite clear there was no total loss, and therefore, no right on the insured to go to the insurance office and say he abandoned it. He had no right to make such a clain. Furthermore, his there was very considerable delay in giving Lordship said it was quite clear in his mind sort of constructive notice of abandon ment, because there was no proper form or written notice of abandonment. Whatever it wasitwas treated by planitiffs as giving notice of abandonment, and his Lordship was not at all clear that it was understood as such by defend- ant's agent. At all events there was doubt the defendant's agent told them they had better sell the damaged stuff, and the question arose as
A
The
to whose account it was to be sold. company said they were to sell it and then make their claim for their loss, while plaintiffs asserted they were to sell it, not as their goods at all, but as a part of the total loss for and on behalf of the insnamce comp- any.
SUGGESTIONS CONCERNING A. with the request that it be coined, the fortigo, three hundred millions of inhabitants of India UNIFORM CURRENCY. examiner of silver should weigh it, and teatel So that at present there is not the population fineness. If these should prove satisfactory to compensate us for the loss of any of our the money already coined by the Mint shall be foreign trade. We cannot import unless we paid out in exchange for the aliver 'bullion. export, and unless the colonies take our manu- Furthermore as to the question whether the factures from us we cannot take the raw mais» Mint shall issue silver notes or prepare silver rial and food-stuffa from them in preference to certificates against the amount of silver coins the United States and other foreign countries. deposited in its vaults, this is a matter of much This may not be in the Sermon on the
ther consultation,
there any immediate prospect of any appreci importance and requires deliberation and fur-Mount," but it is true all the same. Nor is able increase in the white population of our colonies. In the Transvaal, for instance, the whites; what they want is cheap black or mine owners do not desire a large influx of Asiatic labour. Australasia at present shows no disposition either to give us preferential- treatment or spend money on naval defences, excepting upon its own terms. The increase of population there is slow, and there are British workers. In Canada there is an increase of population, chiefly owing to the fact that farmers from the United States are migrating to Manitoba. According to Mr. Chamberlain, trade with these men so long as they live on one side of a geographical line can be des pised, but the moment they cross that Hee into Canada it becomes most valuable, and we are to make sacrifices in order to obtain it. The experience of New South Wales before she adopted the tariff of the Commonwealth of Australia showed that the best way to promote the trade and population of our colonica was for them to adopt Free Trade. As their pro sperity increased, so also would our trade with them. It may be said that, although the white population of the colonies is small, yet they take far more of our goods proportionately than foreign nations. Figures to this effect have been quoted in certain newspapers. The more these writers show our trade with our colonies is fourishing, the more they prove artificial fostering by means of preferential tariffs is un- necessary. The point they have to prove, when advocating Mr. Chamberlain's scheme, is that by it we would obtain trade the colonies the results of the Canadian experiment of giving British goods preferential treatment. It”. that our exports to Canada have increased; he is all very well for Mr. Chamberlain to show
States and Germany have also increased as much, if not more than our own, notwithstand- omits to state that the exports of the United
-While the various countries of the world possess a gold standard, China at the present day is still without it and yet continues the use of silver money. It is not because other coun- tries have no silver money; but since gold began to have a steady value regulations were China not only has no gold currency but her made for a fixed ratio between gold and silver.
appearance, nor has she a fixed ratio of ex-ing to weight of silver so brought. It should change between the two metals, so that, when- ever there is need for gold it must be obtained also be set forth by Imperial decree tixing the at market rates. For this reason people in exchange value of the new currency, namely, China labour under the difficulty of fluctuating how many taels shall be equivalent to one £ the tacl. rates of exchange at various hours of the day, gold, and how many copper cash
With regard to the important question of Moreover, the silver dollars in use are limited making the new currency accepted in other in number, the balance of the currency being
countries the authorities of the Mint shall, largely made up of silver ingots and lumps. after the issuance of an Imperial decree, These lumps and ingots of silver are merely so much silver in the mass, and in the batter appoint an officer to take charge of the duty of exchanging certificates issued by the Mint for goods are much inferior to the silver dollar.
for gold. This officer shall be given a certain number of said certificates and shall be During the past twenty to thirty years the output of silver mines has been exceedingly stationed either in China or abroad. Foreign merchants who have firms, business, or banks the various countries of the world, and it is
in China must use Chinese currency and in great and much more thao is needed for use by
order to obtain such currency are bound to apply to the above-named officer for these Mint certificates. Moreover, in buying these certifi cates the foreign merchants must pay in accordance with the fixed rate of gold for silver currency as determined by Imperial decree. After complying with these conditions, the foreign merchants may then exchange these certificates at the Mint for the new currency coined by it. The gold paid in exchange for deposited with the officer in question or be used to pay the foreign gold debts due by China, or future. Due note shoud be made of the be struck into Chinese gold coins in the
concerned in the future. By "neting in the manner indicated above the new currency will progress of the scheme for the guidance of all
be a fait accompli and have free circulationing the preference. and there will be a recognised fixed ratio in exchange between gold coin of foreign coun. tries and the new silver currency to the benefit, of international trade. This is one way of obtaining a fixed rate of exchange between silver currency and gold which is only explain ed here in a general way, being too important a matter to be contained within the limits of these suggestions, and it will require careful and mature consideration and consultation to avoid mistakes at the beginning of such a great enterprise
construction, it is not possible to say much of menthaving to pay its foreign debts in gold, the said Mint certificates may either be first now give to foreign countries. Here we haveTM
knows,
it, save that promises to be, like all the Dutch clubs, a very comfortable meeting place.
Electricity is almost universal for lighting, and the telephone connects everyone and everybody, even on the distant estates lying almost at the foot of the bills some thirty miles away being able to speak to the banks and must be confessed that both light and telephonic shops of the town with little difficulty, though it communication are extortionately dear, the fatter costing guilders 25 per month and the government holders of the monopoly will no look after the upkeep of the line beyond a radius of 1,000 yards from the central office.
But Médan itself offers little interest to the newcomer after a day or so. It has been said already that the town relies solely upon the planting interest, and that interest, as everyone ought to know, lies in tobacco and, were the tobacco plant to become affected in á similar way to the Ceylon coffee trees, causing a complete cessation of the supply, it is safe to say that, within a few decades, the north-east coast of Sumatra would be deserted, its ports and townships lost in the ever encroaching At first sight the evidence gave some colour to the contention that notice had jungle. Tobacco planting in Sumatra owes its been given and accepted, but when he looked success entirely to the rich black volcanic soil, at the whole of it, and he had read every word which alone is able to supply the plant with of the commission, he was inclined to think that amount of nourishment necessary to a good particular in the case, and might have planting may not be our of place. As one journeys in the train to Timbang Langkat, met the other side with a little less red tape. it was most important the matter should three-quarters of the road are bounded on either be settled and the question was what should be side by the growing plants, the wide fields with done. If both parties agreed he suggested they their regular planting and banked rows, remind fix upon some expert and let him, as cheaplying an Irishnan of the national vegetable, or as possible, without a lot of evidence being the celery banks outside London, for the tobacco plant being a surface feeder, as the amassed, and without Counsel, lawyers or anything of that sort, take the matter in hand, lower leaves are picked off, the earth us banked
cools issue. look at the documents and say how much higher and higher round the stem whence fresh should be paid by the company beyond the sum paid into Court. When that had been done, his Lordship thought the parties could attend in Chambers to settle the question of costs,
price, as compared with gold, gradually less and less. Hence it would be much wiser for China to maintain a gold standard instead of a silver one as at present, since silver has dropped down to such a degree and moreover posscises no certain or uniform exchange, even withit the limits of a single day. The hun dreds of trades are disastrously affected by the present state of the currency while the Govern- both country and people are being plunged into the depths of financial distress. The con- ditions pictured in the foregoing therefore compel one to seek some plan. whereby they may be ameliorated, and so make it that China, while still using a silver currency, shall so fix that there may be no danger of uncertain fluctuations. With this object in view I now unform exchange between silver and gold
proceed with my suggestions.
6-If it be indeed desired to obtain a fixed
In 1900 the British colonies imported goods to the value of about £83,000,000 from foreign countries. Of course, the figures in regard to South Africa are vitiated by the war." What proportion of that trade might we expect to get by any scheme of fiscal federation?
The value of the imports of goods from for eign countries into our colonies was, in 1900, as follows:-
Canada Straits Settlements India
Australia
Africa
£17,500,000
...... 18,200,000
13,600,000
aut 11,300,000
5,400,000
Ceylon and Mauritius...... 1,900,000 New Zealand.......
the insurance company had been a little over- leafage, and a short description of the made of unifom weight and fineness, and in quantities the occasion offers. As to the question of is a long border line between the United States
Mr. Sharp believe we can manage with out it,
His Lordship:-If not I would mention the
name of Mr. Saunders and Mr. Whittall.
Mr. Sharp-There will be no trouble, my Lord.
Mr. Morgan Phillips-I don't think there
will.
Mr. Sharp-Oh, no, I don't think so. His Lordship strongly advised the insurance company to pay up promptly and readily, and remarked that it did not pay an insurance company to have to dispute claims.
His Lordship What I understand to be the difference between the parties is, that as regards 195 packages in dispute the Insurance Com. pany do not deny there was some damage done, and on the other hand plaintiffs say it
Mr. Sharp think, on behalf of the com- really does not matter how much it was because you gave notice of abandonment, which your pany, it is the first claim they have ever con. agents in Manila say they did accept and tested. I think they had very good grounds which the defendants say they did not.. Therefor it, and were extremely loth to have to do so, fore, the real point you want settled is whether there was abandonment or not.
Mr. Sharp :-Yes, my Lord.
Mr. Morgan Phillips, continuing, said, that on the acth June last year 314 packets of, goods, chiefly consisting of food stufs, were shipped to Manila, and on the 22nd the Zafiro ran ashore somewhere on the Philippines and was damaged. Two of her holds, Nos, 3 and 4, became filled with water to the depth of about ten feet, and the goods were very much damaged. The Zafiro arrived at Manila on the 25th June, and shortly afterwards part of the cargo was discharged from these holds. It was then seen it would be impossible to land them as they were in such a putrid condition, and 119 packages were dumped into the sea by order
His Lordship:-1 don't think you need go into that.
Mr. Morgan Phillips proceeding, said that as soon as plaintiffs' agent at Manila beard of the accident to the Zafira he went to the defen dant's agent, and told him he had certified goods which were insured, by a policy on the Zafiro, and gave them a sort of formal notice of the fact. Subsequently he went to them and asked what was to be 'done about them, and it was ultimately agreed that the remain- *ing 195 packages, still aboard the Zafire, should be taken over by the defendants, whose agent asked plaintiff to sell them. Counsel proceeded to review the evidence he intended calling, and observed that it was quite clear the goods had been taken over by the defendants.
After evidence, taken on commission, had been read,
THE PHILIPPINES “OPEN DOOR."
In an article under the above heading the San Francisco Chronicle, states:-China has no right to ask us to set up a special fiscal system in any part of our possessions to please her; all she can fairly demand is that we accord the same treatment iq her people in dealing with us that we give to other nations. As for the Europeans who have planted themselves in China, they are in no better position than the Chinese and cannot with propriety suggest, while we are incurring the enormous expense of policing the Philippines, that the islands should be administered according to their ideas and to increase their commerce. We might with as much reason demand that England keep "open door" for us in Canada. If it is the right thing for us to refuse to derive any advantage over competitors in the Philippines it must be wrong for Great Britain to accept the stiff differential tariff which Canada has framed for her benefit.
must be
rate in the exchange of silver currency for gold there seems to be no other way of doing so except the adoption of the foregoing sugges tions. It will also be necessary to arrive at an understanding with the banks of other countries and work in conjunction with them; but these are matters requiring much delibera tion and attention, and should be taken up as
Bank, this is also a most important matter al- whether China should have a Government though it will not affect very much the question of bringing about a fixed rate between the price of silver currency and gold. Therefore the starting of a Government Bank may be left to some liter period after the establish- ment of the present all-important matter, it is not a question which must be started before it. However, the various Powers all have Gov. ernment Banks and have obtained benefits
2.If the Chinese Government possessed a large quantity of gold this metal might be struck into gold coins and then a fixed ex- change could be decided in their relation to easy matter to put into force. But when we silver money. This naturally would be an have ho gold and only use a silver and copper currency, it becomes incumbent upon us to decide upon some method to bring about a fixed ratio of exchange between gold and silver If it could be possible to do this by making only slight changes in the old methods of exchange, so much the better, as it would obvias the necessity of making the people suffer on both accounts. When there is no gold and yet it is determined to maintain a fixed htio of exchange between gold and silver, it is recessary to create a silver currency of a sufficent to meet the needs of the whole em pire. To do this a Mint to strike these coins is of paramount importance and indispensable. The Central Government must establish a specil Mint of its own which shall strike all te coins needed according to fixed re- gulators and no branch mints permed to be established elsewhere. As while here are, of course, certain benefits and for the proposal to start a Goverement Bank, finanial advantages obtainable from such an instition, as a matter of fact such a bank can bave tle to do with the making of a fixed ratio the exchange of gold and silver.
3.-f it be decided to coin money to supply the curency needed for the whole empire is wouldbe advisable to continue to retain the termsand weights of "tael," daree" and "" (Liang, Ch'ien, Fên, Li) as the paple are accustomed to their use. But in ifting the uniform currency it will be necesary that it should not only be accepted at a fed value throughout the Empire, but be also rogaised and accepted at a fixed value in exchage for gold in the other countries of the is of feater importance than that of being the world This must be the main object in view and accepe currency in our own Empire. Hence the "a" must be made of such a weight as to correpad in valuato a certain amount of silver, whic hould be decided afterwards, with the objeff making it a recognised coin in other countie. It has been recommended by certain perses that in cofning the new currency the Amejch dollar should be made the standard, becase the American dollar has already a recogied and fixed value in relation to gold coolies, if any, attempt to run away, no long
in othrenuntries. Others again have also re civil court procedure being necessary to bring commuted that the new silver currency be them back to their masters, a fact well under- made alh into a piece of coin one Kuping tael stood by all the coolies ere they have been in weih, because the present market rate of long on the estate,
With so much jungle always on the estate,gold dange is eight Kuping taels for need for themt atises. it is only natural at the beasts of the forest, other of the above suggestions is fea. sible, in making the new currency it should as the Scripture puts it should seek their prey be me, into four kinds, namely, one-tael, and the tiger certainly makes his presence five-ce two-mace-and-a-half, and one-mace felt on most of the estates from time to time. But one doubts whether the wonderful
Each field is 100 depas long by thirty to forty in width and extends right and left from a road, called a planting road, close to the edge of which is built a bangsal or receiving and drying shed, a long and lofty structure of attaps put together with a finish and neatness seldom seen
·
in the Straits. Here the leaf is sorted roughly and threaded in bunches, afterwards being hung in tiers from the root downwards.
Tobacco being an annual and, moreover, as has been mentioned before, a most exhaustive feeder-after the crop has been gathered the fields must be left fallow for at least seven to eight years, so that the land originally taken up must be of great extent, practically only seven-eighths of it being under cultivation at one time. Fortunately, the Sumatran planters
́are not harrassed to the same extent as their brethren in the F.M.S. by the labour problem, the Planters' Committee, who in such matters are, de facto, the Government, bringing in their own labour direct from China, and, though the cost all told is a little more per head than the F. M. S. planter pays, yet the difference is more than outweighed by the fact that few
stories told on the stoep of the Médan Hotel after dinner ought not to be taken, ce grand rafft. Personally speaking, a very good effect is produced by taking in as much as can be given, and then relating the story of the tiger shot in Raffles Hotel, omitting all mention of the billiard table, and, if still alive, by follow ing it up with the capture of the python in the same establishment. Then leave at once.
Still, there's any amount of shooting in the jungle, but unless the game comes out a clean shot is impossible. The elephants have re- treated before the advance of the planter, and now only frequent the vhgin jungle at the foot of the bills, from whence, however, they occasionally come down and pail up a wad and prevent its use for days together, since the sight of a herd of elephants advancing in quar ter column is not calculated to make the boldest man wish to force a passage.
NEW CRUISER FOR ORIENT. At San Francisco the other week a new cruiser, named the Tacoma, was launched for Oriental service. She is of very light draft in or der that she may ascend rivers and sail the shal low waters among the islands. The sheathing of her bottom will make it necessary to dock only and, rolling across the heavy southerly swell, In conclusion, as one leaves the muddy river once in two or three years for cleaning, and she heads-for Pulo Fenang, one feels that a short Mr. Sharp addressed the Court, and argued is, therefore, equipped for lengthy stations in visit certainly makes one wish for more. The that the Insurance Company was, and always distant parts. She is a protected ship of 3,500 bracing air, the kind hospitality and freedom had been, ready to pay for whatever was found tons displacement; with sheathing of teak and due in respect of the partial loss. He proposed copper below the water line. Her length at the from convention that characterises those 'one to an insurance expert for adjustment. They inch, and draft 15 feet. She is provided with work which at first is no trifle, the planter's life that the question of amount should be referred water line is 297 feet, her breadth 44 feet 1 meets, convinces one that in spite of the hard had never, he said, questioned the plaintiffs twin screws and vertical triple expansion is quite as pleasant, taking all in all, as one particulars of damage, and had paid promptly engines, and is to have a speed of sixteen and would suppose it to be from his own
appearance. on such particulars as bad been received. In one-balf knots, with an indicated horse-power the present instance the policy was an open of 4,700. Her main batteries will consist of ten: one, and therefore the measure of indemnity 5-inch mpid-fire rifles; the scondary of eight 6- must be based upon the insurable value, and pounders, rapid fire; two 1-pounders, rapid if a certain proportion of the goods was lost or fre; four automatic Colts, and one 3-inch damaged the plaintiffs should be entitled to field piece. Her deck will be protected by two- that proportion of the insurable value. He inch armour on its slopes, tapering down to a contended that plaintiffs could not in any event thickness of one inch. On the flat portion of recover more than the value of the goods, and the deck the armour will be only one-half an suggested that such calculations should be re- inch thick. She is designed to carry a comple- ferred to an expert. Defendants maintained ment of thirty officers and 281 men. The con that it was a partial loss and could not, as tract price for the vessel was $1,410,900, but, plaintifs asserted, be a constructive total loss, owing to a number of changes, her cost has which only took place where the cost of de been increased by about $100,0 Her keel livering the goods would be greater than the was laid on September 27, 1900, and it is amount which the goods would realise. In the expected to have her ready to deliver to the present case the goods realised a sum of $1,700, Government in October
CONN. FITZGEerald.
SENORA Agustina Medel, owner of the Zor rilia theatre, has employed counsel to prepare and present to the Board of Claims at Wash ington, a claim for 15,000 pesos, which she alleges resulted from damages done to the theatre and furniture by the American troops during their occupancy of the building from August 13, 1898, to January 3, 1899. The claim is made that soldiers destroyed the furniture and electric insulation, using the wires of the latter in repairing their books. It is alleged that the a count claimed was re quired to repair the damages wrought
mace," "can-
coins. Besides these silver coins there should
from their establishment, especially Great Britain. When China therefore has reformed hier fiscal system, then it will be of advantage to also establish a Goverment Bank. There are six objects in starting a Government Bank: (a) To assist the authorities to collect and take charge of revenue and keep account of it (b) To enable the collector of revenues to keep account of monies disbursed, etc. (c) To take
loans. (d) To take charge of monies deposited charge of the National debt and to pay off by the masses under the same terms and con- ditions as ordinary mercantile banks. (e) To do the same as other banks in investing govern- ment and private funds deposited with it. (1) To in the provinces and bat should be sent abroad. transmit for the Government all funds needed The above six clauses are the basis of a bank's existence. There is also a further important that is the necessity of appointing as few matter to consider in such an institution, and officials as possible to such a Bank in order not to interfere with the commercial nature of the place. Such a Bank having been establish ed, it will have to work in conjunction with the int. The Ming may be even made a depart ment of the Bank, if so it would perhaps greatly simplify matters. With regard to the establish ment of branch offices or agencies of the Gov. ernment Bank, they should be started as the Indeed, the present Customs Bank in the outports or any substantial financial institution may also be selected to take up the duties of such agencies in the usual manner like other Bank agencies.
· FISCAL FEDERATION WITH OUR COLONIES.
TO THE EDITOR OF THE LIVERPOOL
"DAILY. POST.”.
1,600,000 West India, &C................
3,400,000 Here it will be seen that the colony that im ports most from foreign countries is Canada, the colony, that already accords us preferen tial treatment. The reason is obvious. There and Canada, with, of necessity, a vast amount of inter-change between the people living on each side of that line, notwithstanding the limitations imposed by the Customs tariffs of both countries. But the bulk of the goods Canada imports from foreign countries consists of raw materials, which we could not possibly supply under any conditions. We could not export grain, raw cotton, seeds, petroleum,, sugar, &c. Even Mr. Chamberlain cannot alter our climate, nor add to our natural: 10- sources, For could we expect to compete in regard to iron and steel manufactures, so far as heavy or bulky goods are concerned, since the cost of freight will handicap us as compared with the products of the United States or the bounty fed products of Canada itself. So that, even with Canada, the colony that is now taking the lead in the agitation for this fiscal union, we cannot hope for any in- come in any case as the population of the crease of trade, excepting that which would colony increased. In regard to the Straits. Settlements, the £18,200,000 Consists almost entirely of transit trade, which would not be in. creased, but might be diminished, by Mr. position to Canada; we could not supply the Chamberlain's scheme. India is in a similar. goods she obtains from foreign countries. For the most part they consist of Oriental or tropical
same. The fact is that when we analyse the produce. In Australia it is also much the trade done by our colonies with foreign coun tries, we find there is very little of it that could under any circumstances be transferred to us 50 that, in addition to the difficulty of the white population, of the Empire being so small, we have the further fact to face that there is little, if any, extra trade we would secure if the suggested preferential tariff were in force. What are the sacrifices we are likely to have to.. make in respect of our trade with foreign cou tries? At present foreign nations place tariffs on our goods entering their poits, but they also place tariff's on the goods of other rations. In most cases, we are lesa heavy rated than other countries, for we are always treated on the most favoured nation basis.
and had such duties to bargain with, we could in no cate get placed upon a better footing than we are upon at present. Thanks to our "open doar "policy, we buy everything at the very lowest price, and have an advantage over all our competitors in the fact that we get all our raw material, &c, at a cheaper rate, all round, than they da3 he most of the imports from our colonies are food or raw material the preferential tariff is to give the colonies any advantage, it can only be by allowing them to get a higher price for the goods they send to us. That, however, means we most pay more for our food and raw materials this
The first and most important idea in be a truck two kinds of copper money, these suggestions is of course the making of name ten-cash pieces and one-cash piece a fixed rate in the exchange of silver currency Some people talk about the disability, we are (so done fen; one cash-one li). After and gold. The next idea refers to the exten-placed in by reason of having no duties to the explishment of the Mint and the striking:sion of the first on the understanding that the reduce or abolish in order*30 gain special," of cop of all kinds, it will then be time to
first idea has been made a fait accompli, privileges, hut if we were a Protective country, decid then the new currency shall be launch-
Should it be determined to put into practice ed up the country. No other coins should
these suggestions, there are yet details con be pitted to circulate in the Empire after
nected with them which may be entered upon this.
as each question arises. 4.-Asoon as it has been decided what coins are to bstruck, proper regulations should be made wa regard to the mint to be established. If too my branch mints be allowed it is to be appreheed that the money struck may not be of unifo weight or fineness, and so confusion may be used such as is now prevalent in this. Empirejd thus infinite trouble and obstruc tion to treforms suggested may arise. The
Si-The present (Free Trade) system has best wayould be select some central spot for the consiction of one principal Mint which stood rigorous tests under it our trade and shall coull the currency that may be needed commerce have bealthily and steadily grown, will raise the cost of prodction, and, con- exception this principal Mint no other minte country and the colonies become more and but even in our colonies themselves by the fovincial governments. With the and the ties of affection between the mother sequently, lower our ability to compete with foreign nations, hot merely in neutral markets, Thas shall be lowed to be established. All the more intense. Yet, in bis speech at Birming by this scheme there is no trade we can expect minting ichinery now in use in the various bam, Mr. Chamberlain seeks the reversal of 10 ain, while there is the certainty of losin provincehould be without reserve seas to the this successful policy and the adoption of a
countries Yours, &c.
EDMUND K. MUSPRAT, President, no waste the money expended upon it. Be in connection with the colonial possessions of
Financial Refon Association, sides thetive workmen to be employed in our own and other countries. In previous principalint in question so that there may be system that has been tried and proved a failure large share of the trade we do with foreign
this Miniere should also be engaged cer, speeches he advocated his Imperial schemes on
18, Hacking bey, Liverpool. tain form experts, namely, one superin the ground that they would cause an increase tendent, he examiner of silver, one bead in our trade Now, he talks of sacrifices on our machini and one accountant, each having pan, and practically admits the change would THE lime occupied by the mails from Shangha his specidepartment of work. The one-taclead to a diminution of our trade with foreign homeward by Siberia will be confiderably and fivece silver coins that are to be struck counties. We are to make sacrifices in respect shortened by the new arrangement by which should bhade of nine-tenths silver and one of three fourths in order to gain a problematical the mails Dou go in sealed bags to Moscow tenth cler; the two-mace-and-a-half and advantage in respect of one-fourth of our trade, and are sorted here The Mongolia on Sunday Domacoins should be made of eight-tenths It is easy to talk about the British Empire com-week took nine scaled bags from Shanghai to silver antwo-tenths copper. The one-tenth printre quarter of the inhabitable surface Moscow, where the facilities for sorting are and twoiths silver balance thus obtained to the globe, being inhabited by four hundred much great than at. Dany or Port Arthur. be utilises running expenses of the Mint millions of people, and producing all kinds The N. Crews heifs that the Chipm These co being thus substantial no one ill of produce Outside the British Isles Eastern Railway Go, contemplats bandie try to chre them. When the Mint has been there are not more then eleven millions three more sister ships to the Kancharla mod establish it should first begin with the work of whites, and our Asiatic or black sub Mongolia, which will allow of a through the ofcoiain to money thesilver inguts deposited jects are very poor, and consume very vice, twice a week, between Shangha in the mucial treasuries which should be all little of our manufactures in proportion to Nagalaki and Dalay, with one steamer. Ways sent to Mint to be turned into currency their numbers. We send almost as much to in reserve All recently received Shoulder bullion be brought to the Mint the four million whites in Australasia as to the agree in praising this new homeward route