The CHAIRMAN said it was an important matter, and it woud be very desirable to have it ventilated.
Mr BALILIOS here suggested that, as re gards the Stamp Duty, a quid pro quo might be given to the Government for reducing the tax on bank note issues, if they proposed in- stead that the duty on insurance policies be In other coun ries they were increased. charged ad valorem; and he thought it would be meeting Government half-way, and relieving the banks of a heavy load if a slight increase on insurance was made. With their depraved ourrency, the noto issue was a great facility, and if rightly infortaed, he believed one bank had cur railed its issue, and they ought to come to the rescue as he suggested.
| levlod, and, as in the Kum Hop Sing case, such a purpose. It would be necessary to That find a spot, and a room in the City Hall have been clearly proved to be so. theas duties should be levied at Hongkong building would probably be a convenient instead of ports of clearance in China, place. The outlay would not, he thought, be was simply monstrous; and as there was a very excessive, and it would be self sup- disposition from sheer weariness to give porting, while it would be necessary that way-the Chinese know it, those who had membership should be open to all classes charge of their inter sta kuew it he would and all nationalities. He would be glad say that anything more olearly against the to see the subject ventilated, and perhaps fundamental priuciple of the free trade of it might do some good to the dulness of
Why, the trade, the Colony could not exist. duties were often double; and as for seizures, their tradal waters were turned into a fighting ground to collect Chinese duties. Was that what Hongkong was 68- tablished for? Let China collect her outies at the port of shipment; and if she could not do so, like other civilized countries, then let her go without, The Chinese Govern- ment was with the British Government; but the mandarina, the litterati and the intermediate powers were not with them. If they doubted that, let them take counsel with those who knew-let them ask Bishop Bardon, as to the north; Dr Chalmers, who has large experience of Canton; Dr. Eitel or Mr Lechler here. Our Governor is a Roman Catholic; let him go to Bishop Raimondi or Fathers Borghiuoli, or Vigano (Italian); let him go to the Spanish Pro- curation and Father Saisz; to the French Mission, Father Lemonier-every one of the same these men would tell him story, that all who bear authority a
Should not this be adverse to us. borne in mind;
not and should our attitude be powerfully aft cted by it He maintained that until the present sys- tem-by which no salary was paid to the officials, who squeezed it ut of the people was done away with, there never could be a change; as the mandarin knew that the obanges would endanger his position. This should be thoroughly rooted out. ite believed they were all free-traders in Hongkong: even the German merchants were so, notwithstanding their Chancellor's changeable principles. There was no free trade in this Colony
What was the matter? There was no happiness, n joy in the place; what was at the bottom of it? If there was anything, let them root it out, As to population, there was clearly something w ich prevented the Chinese from coming here they had large factories in Macao and Canton; but here the expense was too great, owing to the Blockade. He hoped that this would be earnestly brought before the British Minister.
Mr Ryrie then submitted his resolution : "That a deputation consisting of the Committee and a ma y members of this Chamber as oso attend do watt upon Sir Thomas Wade, and lay before him the complaints of the Colonists in regard to the Blockade, and also other matters connected with the trade at the new ports opened to the southward "
Mr BELILIOS having secouded the mo- ¦tion, it was carried unanimously.
PROPOSED EXCHANGE,
Mr MAOEWEN said he would like to suggest an idea of establishing, la connec tion with the Chamber of Commerce here, an exchange and general sales-room, as he thought it would be a very desirable thing for those concerned sud interested in busi- ness to meet on a common platform. There was nothing like that institution here: the Hongkong Club was the nearest approach to it at present, bat it would be desirable to have another place than the Club for
The CHAIRMAN observed that he had ever held the opinion that the tax on Bank notes was & very reasonable and proper duty, and one which, so long as the Stamp Act ex sted, should not be withdrawn, was not excessive, and as equal and fair as Iporeas in insurance could be levied.
it
would affect trade, and shippers were great sufferers at present: so he thought the mo- I already passed should remain un- changed.
Mr Nelson remarked that though the proposed xolange was more for merchants than bankers, it would be a pity if the sug
It was gestion should not be taken up. very important, and if well weighed might have an important influence on the mode of doing business in the place.
Mr SHARP remarked on the saving of time it would effect, if it were understood that in a room at certain hours everybody unting could meet everybody else. round to see people was often very f uitless work,
It would be no great cust, and a general convenience; if ten leading part. ners agreed to-morrow to mees in a room from Bay 12 to 12.80 every day, there would soon be plenty of people about.
Mr MACEWEN thought that once a week would be sufficient.
ME HASSELL said that the subject was looked into sume years ago, and fell through as there was no one to take it up. Now merchants were entirely in the hands of Ubinese, whose information was often en- tirely faise--not designedly, but from par- tal knowledge. They were often told their neighbours were nothing when they were doing exactly the reverse, They were frequently completely in the dark-snch darkness that ought not to exist. He supported the idea of an Exchange for iute:course in business.
The CHAIRMAN said it would be a great advantage it an interchange of views on business took place, but he was not quite clear that the Chamber of Commerce was the proper medium to arrive at this sud. Is "would be batter were the time and place not to depend upon the Chamber, He thought the movers might promote the morement by getting people to join. Some one ought to take it in hand; and be thought Messre. MacEwen and Hassell might do so. In no other way could it be done.
After a vote of thanks to the Chairman and the retiring Committee, the proceed- inga terminated.
The following is the Report of the Com. mittee :-
been
Since then the Chamber has favoured by His Excellency the Governor with a draft copy of the proposed amend. ments, and were invited to express their views thereou Your Committee have THE CURRENCY.Upon this subject, His carefully considered the changes proposed Excellency the Governor has been good and have generally approved of them. enough to forward, for the information of REGISTRATION OF PARTNERS IN CHINESE the Chamber, a portion of a despatch from Honds. In the Report for last year you Her Maje ty's Secretary of State, in which were informed that your Committee had will be found the following expression of represented to His Excellency the Governor opinion: Having regard to the reports the importance of having some system of which have heen made at different times by registering partners in Chinese Hongs.
the Deputy Master of the Mint relative to The reply received from the Government the proposed coinage of a British Dollar not being calculated to encourage any hope
for circulation in the Straits Settlements of the suggestions of your Committee being and Hongkong, Her Majesty's Government carried out, it was deemed advisable to have come rolnetantly to the conclusion again bring the matter before His Excel- that this proposal could not be adopted leney, nrging upon him the necessity of the without entailing a loss on the Colonial measure, as much for the benefit of the Treasuries, or rather that in order to avert Chinese as of other traders in Hongkong. such loss it would be necessary to impose Your Committee are not without hopes that such a charge on the mintage as would the matter will receive that legislative at- practically be prohibitive if the British and tention which so important a subject Mexican Dollar were brought into competi-
deserves. tion'
POSTAL SERVICE BETWEEN THIS PORT AND At the last Annual Meeting, a resolution YOKOHAMA.-Your Committee, having been was passed as follows:-
asked by the Government to give their "That as it was most desirable that a opinion upon the advisability of discontinu coin of British manufacture, of well ascer-ing the existing services by British Packets, tained purity, should be substituted for the have expressed their views in favour of dis- present commercial currency, it is the continuing the subsidy. opinion of this Chamber that the best mode of obtaining the same would be to establish a Mint in this Colony for the coinage of dollars and subsidiary coinage. It is fur- ther the opinion of the Chamber, that such a Miut would eventually prove a successful undertaking, repaying the Colony for the cost of its erection and maintenance."
POLITICAL TELEGRAMS.—A new arrango. ment has been concluded with Reuter's
Telegram Co., by which instead of a dally service we are to get bi-weekly messages for $200 a month, with the understanding that should any important events take place in the intervals they are to be communicated.
TELEGRAPHIC SERVICE,-The attention This was forwarded to the Colonial of your Committee has been called to a Secretary, and on the 28th Angust the proposal of the Eastern Extension Tele- Chamber were favoured with a reply, giving graph Company to issue an anthorised extract from a despatch sont to Lord code of 50,000 words selected from the Carnarvon expressing His Excellency's English, French, German, Latin, Italisu views and promising that no opportunity declared by the Chairman of the Eastern and Hindustani languages-which it is will be lost by the Colonial Government to promote the views of the Chamber and to Company would be suficient for the re- obtain a settlement of the question on quirements of commerce-and to apply a satisfactory basis.
single rate for such word in this code, but a double charge would be made for any words other than those contained in it," and, at the invitation of the Bengal Cham ber of Commerce, your Committee have agreed to join in a general protest against the proposed change and in a request that all words or word combination not exceed
THE BLOCKADE.Your Committes have not relaxed their efforts to obtain some remedy for the present obnoxious proceed. ings of the Hoppo's Cruisers, and further correspondence has taken place between this Chamber and the Government, but so far without any satisfactory result.
THE STAMP ORDINANUR.At the lasting ten letters be admitted and five figures. Annual General Meeting, the following re-
be received as one word without extra solution was passed 1 →→→
charge.
"That the Chamber recommend to the Colonial Government that demand drafta and cheques payable to bearer or order drawn out of the Colony be subject only to a stamp of two cents, being the equivalent of the penny stamp used in England "--
which was forwarded to the Colonial Secretary.
In August last, the Chamber wasinformed that the Collector of Stamp Revenue had received instructions to draft a bill to amend the present Ordinance with a view to the facilitation of commercial transa0- tions, but the same letter intimated His Excellency the Governor's inability to sanc tion any change in the Ordinance by which the Colonial Revenue would suffer a redno tion.
APPOINTMENT OF Assessons or Coters' OF SURVEY UNDER THE MERCHANT SHIP”. RING ACT or 1876.-In February last, the Government forwarded despatches from the Secretary of State for the Colonies and the Board of Trade upon this subject, and invited the views of the Chamber thereon. Your Committee came to the conclusion in Hongkong as so few appeals were likely that such appointments were unnecessary
to be made.
FUNDS. The Secretary's Account-our- rent for the year ending 81st December, 1878, has been audited by Messrs. Crombie and Hassell, and is annexed hereto. There
a credit balance of $2,688.11, to carry forward to the current year, and the de posite remain as before.
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