THURSDAY, NOVEMBER 11, 1909.
CURRENCY REFORM.
MATTER BEFORE. LEGISLA.
TIVE COUNCIL
Speech by Hon Mr Marray.
Stewart.
The Hon. Unodicial Member aid :--In sporking to the resolution of which I gave notion of our last meeting I shall not detain the Council long. I propose to do little more than indicate my reason for bringing ib forward. Manilonely it refer to the schema for the imus of a new mobeldiary coinage propounded by an unofficial mom ber in the debate on estimates-proposal to repudiate "alter a cartain date all the existing subsidiary coinage circalating out side of the Colony; to redeem the amount circulating or beld in the Colony on the same date; and to issue a nam atbaidiary coin, convertible at par to any extent, but only legal tender up to two dollys-these colos to compete for publio favour with those issued from the Canton Mint, the circulation of which in the Colony was not to be prohibited. Hitberts I have held with those who consider repudiation unjustifi- able, redemption impracticable, and pro hibition impolitic. The way the Hon. Member pot the case for his contation that we are not bound to redeem, shast the first of these opiziana a little, but by saw it has
preab trada
1
to
THE CHINA MAIL.
His Excellency Sir Frederick Logart, presided at the meeting of the Legislativa. Consell which was held this afternoon, There were slad prasentame
Major General Badarwood, Hon. Sir FT HL Mar, Colonial Secretary, Hon. Mr. F. 42 Hazziano, Acting Ab-
Hor. A. M. Thoras, Colonial Treas.
Hon. Mr A. Wi Baxwis, Registrar. Gen
*****
Bon, Mr. B. N. Joxes, Acting Director af Publia. Work
Hot FJ. BADELAT, Capt. Supt. of Police.
Hon. Dr Ho KAL, GMG; Hon. Mr War Yisɛ, 0.M.G. Hon. Mr. A. Hawer.' -Hon. Mr K. CHFORUM.
Hon. Mr MURRAY STEWART. Hon. Mr. W. J. GRESSON. Mr O.. OLEMENTt (Clerk of Counaku).
CIRENZELT.
Hon. Colonial Secretary seconded and
AKADY MARKS." the bill was road a third time and passed.
Committee on the bill'entitled An Ori dinanes to amand the law relating to Trade Marks.
TYFROGA RETTON.
resettled in its old foundations, Haring wait and see what is to come. In the Colony, how the Govorament could adopt stage and was read a third time and passed
thought over the matter consider that the proposal to repudiate, however attractively it may be presented, is, after all, indefen- sible; and, further that, in any case, now subsidiary coins would not cure the incon veniences at present.complained of, unless the crncurrent use of Chinese subsidiary coins vero prohibited. In other words, I think that the scheme propounded would not work. It is here that opinien differs. On the one hand it is contended by the Hoa.
FINANCE COMMITTEE.
A meeting of the Finance Committee was then held under the presidency of the Hon. Calncial Secretary when the following vole was considered and passed-
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prosper. Those who fondly imagine that Budget speech. On that cometon be (81) LEGISLATIVE COUNCIL. Our problems would cease from Excellen replied, that it did not saam 24 troubling it only we had a gold standard though the robarse anbeded any grounde should dip book Afty years into the history for belief that the introduction of the zom of the Colony. They might then realise coinage would cast the Chinese coin. that the Government eventually realised The hon. member did uos tail them on that in the early sixties that the wise thing to salon whether be expected it would or do was to adopt a corres of equal ralus not, or whether he would be content that with the currency in which the trade of the Chinges coin should circulate in Canton ww being conducted. The the Colony provided the new. «poinaga, Government of that day realised the circulated at par. The scheme the
commer proposed would admittedly involve retorney General At the mosting of the Legislative Council identity of this Colony's
cial interests with those of thepudiation of the Hongkong ourTwEgy this afternoon the Hon. Mr Murray
centre of South Chins which remained in direnlation. Ha (Bin Stewart moved :-" That in the opinion of more cleatly than many among us would Excellency) did not think that any British this Council the issue of a now subsidiary poem to at the present time. It is just me Government would agree that in any coinage convertibls at par would not be important to realise that commercially we British Colony a scheme involving repudi successtal unless the use of all other sabei-re part of China as to remember that ation of the existing coinage could be per- politically we are not, a fact the significance mitted, and unloasa considerable period for diary coins were prohibited in the Colony, of which, we have just been abarply re- the redemption of the coin in circulation and that, in the circumstances, it is un-minded, is insuficiently appreciated in high ware agreed span, he could not support la desirable to deal with the ranttar except us places. Realisation of the former fest that himself. On this crocial point the hon. part of a comprehensive scheme of local commercially wo are part and parcel of member was silent. If he had in his mind China leads to caution reception of that the period ahould be so short a one aurrency reform.“
currency raform proposals-based-spon the nato prevent the influx of stocks from idles that the time ase come for this Colony Canton, that would involve, ku sob of ram to take independent action. That time pudiation so lange that he (His 'xcellency) will not have come, it seems to me, until did not think any of them would consider the present renewed prospect of the cat justifiable. If, on the other hand, he con.. ablishment of a uniform currency through-templated a considerable period during out China shall have faded. The hope which the holders of existing stooky could
Hon. Attorney General moved the "third that in exchange for permission to raise the be able to redeem: cola; may period of Customs duties the Central Government six months, the Habil ty which the Colony will discover a strong reason for strong would incur would be a very large ons. He reading of the bulk stitis An Ordinance action, may seem somewhat faint, but I concurred with what the proposer of the roto set apart certain Crown Land to be theed submit that it is laas faint than any hitherte solution said regarding the inadvisibility of a burial ground for persons professing held out. We shall doubtless be told that issuing any new coin at present until they the Christian Beligion. the Central Government is pot strong knew what coin the Chinone was kely to enough to forces uniform anciency upon be. Finally, he feared that the issue of a the Frovinces, even if it so desires. But now coinage and the repudiation of the ad very serious and grava in not renaustle to be asked to believe would atriks a that the Central Government is powerlere blow the Snancial stability and to do this and to be told the same integrity of this Colony in the
Os the suggestion of os. Mr Heweth moment that it is powerful enough to eyes of China. In those circumstances eradicate the opium habit in a few years he was repared to give the assurance consideration of the Bill was postponed in throughout the length and breadth of the naked for by the proposer of the resolution, † order' to give the trading community an land. If that is poauble, and the scuroditad which was, to use his own words, "The opportunity of considering the monstre. authorities on Chinese affairs proclaim the Government do not intend to deal with fact, it must surely also be possible to the mattor of a new coinage except
Committee on the bill entitled An Or- perform the lar simplar taak of controlling as part of a comprehensive scheme of our
faw Provincial mints. All that is required rency reform, and, he might add, ordinance to sathorize the construction and is an adequate motive and this may con of systematic redemption." Referring waintenance of a Harbour of Rafuge upon seirably be supplied as suggested. Thus to Mr Osborne's latest schame, Hin Ex and over certain portions of the sea bed there seems more chance of reform than cellency anid he was unable to see how the and foreshore situated upon the harbour over before and therefore more than ever Government of the Colony was to die frontage at Taikoktsaf, Mangkoktai, nad The bill passed through the Committee. now should we exercise patience and sociate itself from the community of the Yaumati, Kowloon, in this Colony. meantima it is incumbent 40 this one form of local tender while the Colony
on the motion of the Hon Attorney General Government to continue to work towards which it represented disclaimed and re- robabilitation of the subsidiary coins in pudiated that form of tender. To his seconded by the Hon Colonial Secretary.
Way 13. much a schoma use by exerting ita influence to combat the mind cue
The the other, svils of over-production by the Canton of repudiation as Mint. More than that I do not at the Government of the Colony was, in fact, momost advocate because it appears to be dealt with by Mr Usborne as though it still doubtful whether the anticipated ani- were some outside committee existing for form currency throughput Chius will be its own purposes in this Colony. It had the tael or the dollar. Whichever it is we gorged itself with profits and it was to should, if possible, adapt our currency to disgorge itsalt of them. He could only say it, and, pending the Central Government's that the Government of this colemy 25 eventual choice, I do not think it would presented the taxpayers of this Colony, in be wise to launch out independently. If, other words the mercantile community. Member that the fact of his however, within a reasonable period, it Thoes taxpayers would receive the benent proposed new coin being convertitle should become apparent that, after all, the of coins put in circulation, and if the at par would cause is to drive aut the hope that I have dwelt on is not to be Government disgorged the taxpayers dis fulfilled, then we shall have to face the gorged. There could be no distinction competing Chinese coits. On the other risks of independent action and then between them. hand it to hold that the Chinese coins comprehensive scheme of local currency would still be in demand among the reform-doaling with our copper sa wall poorer section of the population, who as with our silver coins-will receive my would always prefer to receive in exchange active support. Ent while these things for a dollar, say for the sake of argument, are on the kuces of the gods I have no elaver Chinese ton cent, pieces instead of particular desire that this Government ten British pieces. It is this row of the should bind itself in any way other than probabilitice which the first part of the by he declaration I have asked for, and resolution asserts. The point is debateabis. simply in order that there may be subject I don't propose to discuss b. It is imp-08- matter before the Council to speak to, I sible to do so except at great length. And movs pro formon the resolution as it
t to stands. the hope of reaching finality is too alight t
Hon. Mr Hewett, acconding, said he justify that. Currency questions are per- haps the most intresté of all the questions was, in the main, in entire agreement with about which people freely dogmatise. Ours the mover of the resolution. The proposal are peculiarly intricate owing to the com- of Bir Osborne for the repudiation of the plex relations created by contact between existing British coinage would, be consider re widely different states of civilization, ed, be an absolutely indefensible action. with standards of wealth so far spart that Indeed, be personally looked upon the unit of surroney for practical purposes it as politically immoral, and be felt If so, will the Government convey to theins wickets for 18 rans, for the Exppers, Avenging Children, by Mary E. Manie! of the one is regarded as subsidiaryenin by aura that this view would probably be Secretary of Stare a respectful intimation are not likely to be excelled in local cricket Cardillas, by Robt. Bart. the other. I need not remind the Council takto by His Majesty's Ministers at ilama. that much treatment in resented in the for a long time. The win for the Bulls was Wild Beauty, by Dick Donovan. that the notes lasued by the Provincial After reiterating his view that the cou- Colony of the fact that the well known to a large extent due to the stand made by Government Treasury in Canton are paytinuation of the scheme of redemption was able in 20 cent pieces. I nexxi not rem ad inadvisable, Mr Hewett id he considered date of the birthday of His Britannic Capt Baird, who was the only player for you that the shares of the Ewangtung the attitude of the Government at present Majesty was chosen for the obsequies of bis side ble to wake ▪ Osman's bowling. Scores section of the Canton-Hankow Railway re
was the correct one. For many years past the late Dowager Empress of China sotto issued in exchange for 20 cent peces, that, the Government of Hongkong had most weeks ago, and that up to last Friday the in fact, the capital of that great undertak carefully and anxiously followed the cur. Secretary of State gare no siga be consider ing is in 20 cent pieces fact so astonish rency question, but he believed thated that the claims of the latter over-rode the moment had not yet arrived for any those of the former in this British Colony, ing to the English mind that when the local branch of the China Association special action on the part of the Gov-basthe Government any information astothe advised the London Committee of it, the ernment. There was no question in the reason for this sudden change of attitude1 Chairman was afraid to mention it at the speaker's opinion that our coinage, as trade Hon. Sir F. H. May, Colonial Secretary, Foreign Office lest it should turn out to be now existed with China, could not possibly zaplied as follows:--- a ridiculous mistake on our part. This be dissociated from that of the Chinese only shows that the inhabitants of Empire and he believed timt any attempts (2) The questions put forward by the country in which wealth is fairly wide on the lines proposed by 3: Oxboras. would Hon. Member and the replies given will spread have difficulty in appreciating the infict a very serious blow to the trade be transmitted to the Secretary of State currency reeds of a country rich of the Colony. We must continue our for the Colonies. naturally bat 60 thickly populated trade with the southern part of Chine, and the vast majority are Tery merchants in doing they must deal with This is important to remem the Chinese on terms of equal footing so far bor and it is sometimes forgotten in discuss ocisage wargoncerned. If notthe Chines sing the local currency problem. As I have would deal with northern
Ports. It
appear said I do not propose to discess it need, therefore, that the thing Local currency problems have been to the now was for the Government to continue its
which was
in every endeavouring they are not likely to be solved by ohaus- tive and exhausting speechas delivered in towards currency reform in China, which, one afternoon. Moreover, nct rolly he believed, was in measurable distance of necessary, to the practical purpos
I have initiation. He might be wrong in that, in view, that the Council should endorse but it so it would then be open for the opinion which may be regarded as academic. Government of the Colony to feconsider I am only concerned to elicit an expression the question of opinion span the merits of the proposed scheme as hule. On the occasion of its promulgation Your Excellency said that the Government would consider it. Doubt less you have done so. If after consider tion the Government does not intend to carry out the Hon. Member's recommen dations it appears to me to be desirable in the public foterest that a statement to that effect abould be mads. For this reason. Part of the scheme being to mdeem the much they argued he did not think they during which the Post Office will be in Campion
Bat he curse of construction? ariating coin circulating or beld in the would ever reach unanimity.
that
poor.
of
only
to
'do
fore over eince the birth of the Colony anapoble way to encourage the morement
a
Bon Mr Stewart then withdrew bie resolution.
SPORTING.
League Cricket.
Burn = ROYAL ENGINEERS.
TYPEWRITERS.
The Underwood Machine is the best in the market and
The Smiths of Valley View, by Kable has been awarded the grand prize at St. Louis Exposition.
Howard.
The Fortcoate Prisoner, by Max Pemberton. }'. Justified, by Man C. E. Poalton..
Darrian Carfax, by Nowill Grifith.
The Msn the Mountain, by 8. R.
Crockett.
Some excellent bowling on both sides The Shoulder Knot, Mrs Henry Dadaney. THE POSTPONEMENT OF THE characterised the match on Wednesday Mr Justice, Raffles, by W. Hornung.
KING'S BIRTHDAY.
Questions Asked in Council.
Syrinx,
Laurence North
afternoon between the Buffs XI and the Sealed Orders, by A. E. Carey, Royal Engineers. The Sappers have been Open Country, by Maurice Eewlett going strong this season, and, with the assistance of several new players, including By Aubrey, by Katharine Tynan. Capt Addison, fully expected to annex the The Castle by the Sea, by Marriott Watson. At the meeting of the Legislative Coun-point, The Baffs, on the other hand, had The Waking Hour, by Harold Wintle." all this afternoon AG Hon. ME Murray Dos played a match in the League, compati The Manage of Hilary Cardon, by Smalsy
tion, but of course with the incinsion of Portal Hyatt Stewart asked the following questions :---
such well known cricketers as Capt Baird, Two Wamer, by Baroness d'Anethan." Es in a foot that, in the original instance, and Lieuta. Anderson and Green in the The Master Schemer, by Mas Vare Camp- the postponement of the King's Birthday team, have all along besa locked upon sa bell, Celebrations was ordered by the Secretary good enough for anything in the League: Peter Homunculus, by Gilbert Cannan. of State without may previous reference of it was a bowler's afternoon, and the per Trae Tilds, by Q (A. T. Quiller Couch) the matter to, or consultation with, the formances of Capt Baird and Liest Innes Pretty Fanny's Way, by R. Harcay Gil Government of this Colony?
for the Boffs and Corpi Osman..who took
christ
(1) Yes.
stand against
3
ROYAL ENGINEEDS.
Corp. McGregor, b Innes Spr. Harris, 6 Baird B. Sgt. Power, b Baird... b Baird... Capt. Addison,,
b Baird... Osmazi, Corp. Corp. Campion, nos out... Corp. Tavener, Lb.w. b Inner
8. Sgt. Keene, bowled Inom... Corp. Palmer, not cut... Corp Harison, o Farrow & Baird Spr. Sturdy, bowled Baird
Extras...
Total in BOWLING ANALY
(3) No.
NUISANCE NEAR THE NEW LAW COURTS.
Capt. Paird Lieut. Innes.
When It Will Be Removed.
.
$+4/6
18
9 34775.
Lt. Innes, e Sturdy b Osman Lt. Norman, b Omman
L Anderson, c Addison b Lt. Hart, b Osman...
At the meeting of the Legislative Coun- cil this afternoon Hon. Mr Murray Stewart zaked-Is it necessary to the work on the Post Office that the plot of Govern- Lt. Innes, b Usman....... ment Lind between the Law Courts and Lt. Bill. b Osman... the Frays should be largely occupied as Cpl. Winder, Caman... Sergt. Wallis, b Tavener workmen's dwellings 7
Cpl. Miller, o Palmer b Oman Pts. Farrow, not out Capt. Baird, Lb.w. Usman ...
Hoa. Hr E. Osborne sontended that the
How many people are housed nightly in mover of the resolution had opened up a the quarters which the contractor is allow vide question which did not concern the ed to maintain there, and what gent, point at issue at all. He had declared suy, does he draw from their cocupation that repudiation of Bitish coins was in- Are all the people housed there engaged in defensible, and no doubt there were a work on the Post Office 7
great many people who would agree And are we to paderstand that the with him. However, it was not the public may be naked to put up with the speaker's intention to argue that point.nuiance created by the condition of the Damn To do so would be useless, because, however plot In question for the year or more Keene
Coleby, obviously, if the belief were to would meet the objection with a develop- Hon. Mr P. H. H. Jonas, Acting Direc gain ground that the scheme had any ment of his original scheme by which tor of Public Works replied as follow chanos of being adopted our coins would repudiation could be avoided and by which (3). No.
additional loss
to
Tayenez,
+44
Tatal
DOWLING ANALYSIS,
ril 10 .19
29 2-2/6 ail
Inter Co. Cricket.
The Vulture's Frey, by Tyler De Baix.
A House of Lise, by Sidney Warwick
Country Corner, by Amy La Fanore. Fions by Lady Napier of Magdala. The Forbidden Theatre, by Keighley
Spender.
The Third Circle, by Frank Norris.
0 The Winning Chanos, by Elizabeth De
Jesus.
0
45
The Necromancers, by Robi. Hugh Benson
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tend to flow brak jate the Colony in redemption could be effected, te the housed nightly. In the workshop quarters.
that (9). There are at present over 30 men 80m Co. 1.0.A. x. BETH CO. inconvenient quantities, with the result without any that, eventually, in the case of nothing Treasury. "He would now propose Ties are masons brought over after the yesterday, the 87th Co, and 88th Co, meet- being done, they would still further de- that the existing colt be demonetised Inst typhon, which destroyed their mating in the cond, round of the Inter Co preciate. To preven this, the Govern-only so far as the public were concerned sheds, from the Ms Yan Kok Quarry, from competition. The Stonecutters men won ment, if they have no intention of redeem That was to say, they would continue to be which itons for the Post Office is prepared by the narrow margin of six rune and now say so. The belief that it is important cease to be legal tender to others. The Tau Kok sheds, which are being rebailt. to dissipato a possibly misleading ides effect of this would be that a certain The contractor draws no rent for housing calculated to encourage speculation, in my main reason for bringing forward this entity of thess soins would manually these people who are all engaged in Post
return to the Treasury and they could Offen wer resolution. I must confere that it is pere melted down and recaut into the (3). This answer disposes of the third hape not particularly well designed for the new coin: The local exchequer had gorged question. purpose, and, if the statement hist. I hope itself by slow degrees will these sus hole. to elicit is made. I shall be willing to some pr. fice on subakiary coinage, draw it. The latter part, suggesting that, and if redemption be the only accept
ing at per the coins held locally, should legal tender to the Government bat would They will in a few days return to the Mamaet the 83rd Co. in the final: Soiros: two ouncerts have been perfect gems, for JOHN & ROBERT HARVEY & CO., LIMITED,
HIPPODROME CIRCUS::
X
La Champman, e Nash, b Owen Fensome, b Owen Donaldson, b Owen Crump, cand b Longbottom... Faller L.bw,b Owen Fitzgerald, a and b Longbottom Walker, b Longbottom Swan, at: Garnett
Mr Jackson, the advanos representative: Ansell, 5 Germett
Postou, not out
not becauas they involved change, but be
if anything is done, our local currency able svends to reform, then let it in aught to be dealt with as a whole by some similar manner and by slow degrees disgorge comprehensive scheme of reform at last itself of profits in the future. Meanwhile of the Circus, advises us that the show loft Hewitt, a and b Long indicates that I am not opposed to change, the new coin would circulate at par and Manila on Wednesday, the 10th, and is dosa as such. So far I have been against most be lags! tenir both to the Government
and to the public 11, as Mr Stewart to arrive here by the Prinz Wademar oF thought likely, the Ohlusse preferred to Saturday They will open their someon
Extria
Total ... 88th Ca.
schemes of currency reforms put forward
Longbottom
And b Hewits
cause I was not pursuaded that the change use their own coin, that was their own affair a Causeway Bay on Tuesday, the 16th Capt. Garnett, Fitzgerald, b proposed were for the better. For instance and it did not in the slightest degree affect instant Beveral new artistes have been Capt. Clapham, Bewitt, b Cmy 1-did not agree with the proposal made the main principle of his (the speaker's) seven years ago to adopt pounds, shillings scheme, which was that there should be
engaged and the public are promise 0,8. M. Oren, a Bwain, b Cruz
Nash, Fensome, b Cramp. and pense se the currency of the Colony. coin at all times worth is Sacs valse arail-treat during the short stay in Hongkong Buckley, by Taller That proposal vás not new, any more than subsequent proposals to go gold" are now Pounds, shilling and penceware pa afimed lessi tender hass in 1845 but merchants ignored the Comment's the orationi gold standard and wisely continued to send not their operations in the currency
able to those who wished to use it. Those who accepted the depreciated ook would have no one but themselves to blame for
low they might sader, feel His Exonlenor the Governor said he had given much thought to Mr Orborne's inhome, he be had promised to do that
shoes convient to China's foreign trade, and IE wir poselble to give thought
the fact being that they had no option into a scheme of whics only the beatest
the musking if they wanted to see the trade warn teen by the hon. member in his by
SAVE THE DOCTOR'S FIRE
YOU ARE * mag af moderátë menus And Januoti Lord to employ a physician when
to know that one
Grampi
the one given in the Theatre Royal on
97 Wednesday evening proved no less enjoy- able than the first had been. Whether inter preting the semi-mystical yearnings of Griega
or dashing off a Tarantelle by Popper, Mr
BETABLISHED 17787
Herbert Withers was squally at home with Undersigned, have been appointed SOLE AGEN18 in Hongkong x64: Son we 18 the thama, while the more robust writings
of Davidoff and MacDowall were treated in scholarly manner and exquisitely rendered. Mr Withers' aupremacy with 'h i obowen in- strument, the violoncello is, however, too well known now in the Far East to need for
Mindain ther eulogies & this time of day. Marguerite Ely, who took by far the largest share in the evening's programme over £12,000,000.
INVESTED FUNDS
Again charmed every latened with her pers
Ohins for the above Company's
WHISKIES
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beautifal interpretations. Pos THE STANDARD LIFE OFFICE
techal abilities, she yet tranaliam mch and every selection with a deeply sym-
pathetic understanding of the thoughts and
£1,000 POLICY FOR £1.0.8.
desiree of the composers abs is treating. The above monthly premium will secure a £1,000 Policy. OF
and the teelt in exquisit⠀ zarishment for ber audience. Mr Charles Bennett' songs were:allo nthusiastically recsived and like Me Withers and Madam Blấy bá had to respond to many snoorns
here
is no mistaking the welatne which will be accorded this talented Hirio should they make up their minds, to pay Hongkong
good life aged 25 next birthday,
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