bous nou
Jo 24
4th March, 1879.
Governor
The Sque Hennepy c. M. G.,
Zu Right Honorable
M
Sir Michael Bicks Beach.
X MP.
Transmitting account of
annual ferreral meeting
f
the Chamber of Commerce
with some remarks as
to
the Currency, the Blockade question and the Stamp
Duties
}
Encloure, in Governa Pope Haunchy's 5779 despatch N. 24. of 4th March 1879..
HONGKONG GENERAL CHAMBER
OF COMMERCE.
The annual meeting of the above Cham- ber was held at the City Hall this after- noon. There were present-Hon. W. Kes- wick (in the chair), Hon. P. Kyrie, Messrs Nelson, Hoppins, Arnhold, Beliliva, G. Sharp, Hassell, Sandeman, Linstead, Mo- Iver, Erdmann, Deacou, Bottomley, F. D. Sassoon, A. P. MacEwen, F. H. "Arjance, and E. George (Secretary).
The CHATEMAN said the first business was
to confirm the Report of the last meeting. The published report was in their hands having been issued some months ago, and he thought they might take it as read. proposed that the Report be adopted. Mr NELSON Seconded the motion. Carried unanimously.
The
He
The CHAIRMAN: The next business before the meeting is to consider the Report for the year 1878. On this occasion, we have had the Report printed, with the appendices, and circulated for the information of mem- bers. There have been no very important events during the year, and in speaking to the Report I would remark with reference to the currency question that a change must have taken place in the views that were held on this subject twelve months ago, and I do not think any one would Bow recommend the establishment of a mint in the Colony, thinking it would be a self-supporting institution through the profit made on the subsidiary ouinage. The views that were held 12 months ago on this subject have I believe undergone a change, and I do not think any one would now recommend the establishment of a Mint in the Colony in the expectation of its proving a self supporting institution. subsidiary coinage, from which it was supposed the running expenses of a Mint could be realized, has passed from our coutrel, and the Colony is flooded with 10 and 20 sen pieces from Japan, which are forced into cirqulation here, and are exported to the Coast of China at from 12 to 15 per cent discount. Of course the Colonial subsidiary coins obtained from England have to remain in the Treasury. The Customs cruisers maintain as strictly, as ever the system of collecting duties on the trade of the Colony carried on in native craft, and there is now no open highway of commerce between China and this British Colony, and formerly free port, except in foreign vessels from Treaty ports. I hope, but am by no means sanguine that on the arrival here of Sir Thos. Wade, H. M.'s Minister to China, that the wrong which is being done will be rectified. The opening of new ports in our vicinity and the consequent greater use of Foreign built ves- sels has naturally the tendency of making the Blockade somewhat less oppressive, but so far the opening of Fakhoi owing to the opposition of guilds and the denial of Tran- sit passes on Treaty conditions has been a failure, and Hoibow has only partially realized the expectatious formed of it. The obstructions in the way of business at both ports will doubtless, however, give way to pressure, and there is reason to anticipate that in time an important trade with Hainan will be developed. The ports of Haiphong and Quin-On are gradually rising inte im-
portance and the development of trade with them will be greatly to the advantage of Hongkong. I would remark however, gen- tlemen, that I think we have not been active enough hitherto in urging the opening to foreign navigation of the water ways of Hwang-tung. While the Yangtze is opened as far as I-ebang nothing has besu done here, and we are restricted to Canton as much as we were two centuries ago. There are important and populous towns on the various branches of the Canton River with which we should have communi- cation under somewhat similar conditions to those applied to the Yangtze Navigation, and we should not cease, to urge for exten- sion until what we desire is obtained. It is in no narrow or selfish spirit that we should desire to sse comfortable rapid, and sate means of conveyance take the place of the wretched slow and dangerous boat travelling that at present exists. The Chinese would be greatly benefitted, and with their quick appreciation of what is to their advantage the labouring and trading classes would accept the change with satisfaction, and this Colony would be rendered still more impor tant and its trade would be increased by the extension of lines of communication with the interior of the neighbouring province. We may have to wait long, however, for the "realization of what I advocate, for I cannot forget that notwithstanding the years that have now passed since foreign Ministers were admitted to the Capital of China they are still content to crawl miserably from Tientsin to Peking, taking sometimes as long to accomplish that short journey as in travelling from Shanghai to Tientsin. I think the facts I have previously men- tioned point very forcibly to the inadvisa- bility of advocating the establishment of a mint in Hongkong. It has been my opluivn many years that the mint would never be a success here, and recently that impression has been fully confirmed. After a few running comments on the Report the Chair- man moved that it be adopted, and the accounts passed.
Mr BELILIOS seconded the motion. Carried unanimously,
Mr Ryu said that with regard to the pa- ragraph in the Report respecting the Postal Service between Hongkong and Yokohama, į one or two matters had recently come to: light which might induce the Committee to modify the views expressed in the letter sent by them to the local Government, It had lately come to their knowledge that the community of Yokohama bad addressed a remonstrance to Sir Harry Parkes with re- gard to the giving up of this line. Then again it had also come to their knowledge that there was a possibility of one, if not both, of the American lines being discon tinued. It bad at all events been reported in the American papers that probably the J'asitic Mail line would not be continued. Under these sircumstanyes he thought the question might be well considered whether they would or would not alter the opinion expressed in the letter seut by the Committee to the local Govern→ nient. He thought it was very desirable thut, with the possibilities now before them, the British service should not he dis- punted. If the American steamers did pot run be thought it was very desirable que britpă alescifre abonių: 1) was diwaja
79
82
2 bucloure
No comments yet.
Private notes are available after approval.