12%
551
bimetalism, whichever system may be adopted I
think can be showIL«
I cannot agree with Mr. Osborne that Hong-
-Kong must under all circumstances remain the
distributing centre for the Southern trade of
China and that he is right in solightly passing
over the affect a change in currency must
unquestionably have on the trade of the port.
Were a railway connecting Hongkong to Canton
and thence to other important trade centres in
South China matters might be somewhat different.
We have reason to fear however that such a
railway is still in the clouds. I consider that
we would be unwise were we to at once set on one
side the possibility of rivals appearing in Canto n
Macao, Kwangchau or even Swatow. All these ports
may in time draw off a certain part of our trade.
It is within the bounds of possibility that
improvements may be effected in the river which
will enable more vessels than hitherto to trade
direct with canton or at least as far as Whampca.
As regards Macao the cost of making the
harbour posɛble to ocean steamers would not
probably be very great .
If in addition to this a railway were
built to canton and the suggested agreement
between the Imperial Maritime Customs and the Portuguese Government carried out it is quite possible a portion of the Hongkong trade might
be diverted to Mac ao.
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