This Document is the Property of His Britannic Majesty's Government
CHINA TRADE.
CONFIDENTIAL.
No. 1.
[July 12.]
151
SECTION 1.
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Liverpool Chamber of Commerce to the Marquess of Lansdowne. -(Received July 12.)
Liverpool, July 11, 1905. My Lord,
THE Committee of the East India and China trade section of this Chamber note that by Article II of the Treaty between the United Kingdom and China respecting commercial relations, &c., signed at Shangbac the 5th September, 1902, and ratified at Peking the 28th July, 1903, the Emperor of China and others agreed to take the necessary steps to provide for a uniform national coinage, which shall be legal tender in payment of all duties. taxes, and other obligations throughout the (Chinese) Empire by British as well as Chinese subjects."
On the 19th January last a special Notification was published by Viceroy Chang regarding the introduction of a tael silver currency for the convenience of the (Chinese) people," a translation of which is appended to this letter.
This Notification has been very carefully considered by the China Association, London, the Manchester Chamber of Commerce, and members of this Chamber engaged in trade with China, and they unanimously disapprove of the plan proposed by Viceroy Chang in dealing with the question of a uniform national currency for China. They are of opinion that the Chinese Government should be reminded of their undertaking by the Treaty of 1902 to establish a uniform coinage in China, and if they be not prepared to adopt the gold standard for China, and to establish one central mint, they should at least enact that the Chinese provincial mints should coin and issue dollars identical in value, so that they would all bear the same ratio to the Haikwan tael, in which duties are now paid. The ratio should be officially com- municated to the Government of this country and other Treaty Powers concerned, and instructions should be issued to all Chinese custom-bonses to accept the dollars at the ratio proclaimed.
It is believed that such action would be a step towards attaining a uniform national currency for China.
I have, &c. (Signed)
THOMAS II. BARKER, Secretary.
P.S.-I append bereto extract of a letter from Mr. James Harvie, head of the firm of Messrs. Harvie Brothers and Co., of Liverpool and Shanghae, which fully confirms the views of the China Association.
T. H. B.
Inclosure 1 in No. 1.
· Proclamation by Viceroy Chang regarding the Introduction of a Tuel Silver Currency for the Convenience of the People. (Translation)
WHEREAS China's officials and people have hitherto used uncoined silver, every place having its own weight and touch, all differing, without any uniform standard Treasury tael, the touch varying and the denominations being many and confused, with the result that cash merchants and market hucksters were able to manipulate exchange to their own profit, and the hindrance of trade and livelihood;
Whereas in the Commercial Treaties now arranged with all countries it is provided that China will herself institute a uniform national currency, and in the Treaties it is explained that the currency of the whole country shall be made uniform--that is, that there shall be a legal tender which Chinese and foreigners shall in China use to pay all species of taxes and duties and every other sort of expenditure, but that payment of Imperial Maritime Customs duties shall still be reckoned in Baikwan taels-it is proper as soon as possible to settle the standard currency, so that it may be used throughout the whole country;
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