1893-05-09 — Page 2

Page

INTIMATIONS.

BROWN, JONES & 00. AMERICAN AND ITALIAN MARBLE CROSSES,

HEADSTONES AND COLUMNS

in Steak,

Priess moderate. Werk Promptly Dono. 3937

Satisfaction Guaranteed.

THX 604620NG DAILY FR835, TURSJAI HAY Pra

The following is the report for presentation to harsholders at the fourth annual general meeting, to be held at No. 0. Iss House Lage, at acon on Thursday, 18th May:-

The Ganerat Kaungora now beg to enbmit their

[the Confrenés. He is sending back the] At Pansag of the 29th ult a whole Malay H. G. BROWN & COMPANY, LIMITED. we delegates with the same fastractions family, consisting of fifteen persous, wars polson- od, and three of tham died. The remainder, as before, but his motion appears to be deter-under medical trantment, recovered." It is sup- mined rather by the feeling that the United posed that arsants had been fatroleerd in the States, having originated the Cosforonos, read they consumed. roats under me obligation to obtain a practical pronouncement from it if possible. Mr. CLEVELAND'S personal hopes probably A. S. WATSON & CO., LIMITED.are that the pronouncement will be advorse to bimustallism, for unless his viowa have undergone a great change be must be regard- ad as an advocate of the single standard. A majority of the incoming Congress, it is said, favours free coinage, but anpported by a condamnation of bimetallism by the Monetary Conference the positim of the President in opposing the silver party in the United States would be materially strongthened.

CHEMISTS BY APPOINTMENT.

ESTABLISHED D. 111.

MANUFACTUREES OF ARRATED

WATERS!

Our New Factory has been recently rqfitted: with automatic Stones, Machinery of the later! and vast approved kind, and we are well able to compete in quality with the best English makers.

The purest ingredients only are usod, and the utmost care and oleoalinese are exquised in the manufacture throughout.

:.

Nevertheless, although we look upon the Monetary Conference is doomed to failure, far as any immediate practical result is concerned, we believe that bimetalliam is Louad to be re-established sooner or later, for the simple reason that the supply of j gold is not sufficient for the currency The quirements of the world. Mr. BerRNAERT, the Belgian Minister of Finance, in his speech welcoming the Monetary Conference to Brus sele, said that what would characterise this century in the future was the prolicious and incessant development of interrational re-

•

· JAMI

two walia would probably follow. Either China Ho particularly invited their attention

oh is a large grower of volcon, and possess the following figares. First as to aßvor-- sample ares suited to its extended oultivation The coamalated production of

silver by weight down to the Kilos would be encouraged to erast machinery, and epta her own rara, or she would transfer her 1850 was uppecximately 149,000,000 custom to Japan, which is rapidly devotoping, a Production 1851-70 great manufacturing industry.

Total.. 187101.g bring an increase during the past

Let us now fok at gold—

defrosson winterer to apprehend say such great Jantput as. would put a govore strain on the Univa. The present annual production, large n it in, is not large relatively to the gold pro- dustion, as the figars above testify. But even 21,000,000 were being produced in quantities double or irebla the proeat production, we appeal to 170,000,000 the experience of the first 10 years of this oen- 58,000,000 tory, during which the ratio remained stable 30 years of amid far greater flestations than wa are ever.

likely to me again. The agaros taken from page 6 of the Royal Commission Report quoted from Sosibeer are as follows:---

Average Anaga!

Production.

The Canadian Paolo Bailway Company's

The refsation on hardly fail to anggest it- Royal Mail sister Empress of Japan, which left or sadalament at the Company's arodbe, and that the opina tado, would be affected by Vancouver on the 25th alt (having bous delayed your 1003 A

The ges profte on miles of timber, do, oris close similar antiderations, with the probable effect ons day for the mafli, nedived at Tokohama, un to the Ogmes for laul, bat, misfortunes barn.com of stimulating praduation in Chins nod Tersin, 34 per cent. Sunday morning, one day ahead of sohedale Wound to attend the working of the Company and hastening improvement in the unfacture

Tassels, and Statequrule bave contributed very of Cleinest opiam, to reset the luxurious dewind Accumulated ebook of "gold" in time, they redusing the onlinary ran by two

Kiles day. She left again at 10a.m. iterday for

largely to bring shout, the regrettably bad romalja

for superior quality which the better prepared '1850 wus about

4.752,000 show on the working, and profit and Loss mesomaÍS Kobo, Nagasaki, Shanghai, and Hongkong.

3.904,0 Production 1851-70 ranexed, ris, debit, balance of $27,702.18. The Indian drug at present supplies..

Neither “must” the consideration be leat sight past year had also to bear seriona Icesco in closing The long expected statue of H. M. the Queonut oil soaks of timber at Kobe and Fianteta. The of that the trade botwoon India and China is

Total 1870... 8,6:8,000 arrived on Friday in the stearner Glenfalls and ad come Cons, watch was purobest to fill the place remarkably one-sided. The exports of yara and

1871-9.........

3,500,000 woslanded on Saturday at the Kosken Godururs of the Margarits lust, is now page, wineoplom aleas, from India to China, exceed 11s, or an increase of 4 per cent. It is probable that in a short time a meeting of Enrique in the timber tradote Mans, and proa 50,000,000. Exact statistics of the exports from the Committee will be held to decide what sters to be of great assistance in developing the important hins to India are diff ult to obtain, because large batput of alive in the last few years the That is to say, that in spite of the admittedly branch of the Cumpary a busine shall be takou with regard to its erection. The The Company's barque Fenshaw with park cargo they are as a rule exported first to Hongkong alltion to the existing stock of silver since 1871 where it will inmasdistoly face the fature princi- last, and become a total ks, which will sell or the with that Coleay. But it is notorious that same period to the existing stack of gold. The site fired is in the centre of Wardley Street, on board for this port went on shore on 19th Eubeaary and merge in the general figures of the trade was after all less then the addition during the pal landing place of the colony.

verront year's D-souris.

they are telling compared to the great valuo argument therefore seemed to follow that had CONSULTING COMMITTEE. The Band of the let Shropshire Light Infan

Mears. Dalrymple, Sassoon, and Layton retire in of the imports and they leave, consequent other things remained the same there was sa try will play the following programme at the order with the artioles of corn, bet, ly large adveres balau, which has to be thing in the supply that could soonant for the

being eligible, ofer themselves for re-glooti

| adjusted preotically by the remittance of silver, fall in silver, Offlsen Mass. Morray Barenoks, this evening,"

a Monte Carls nommending at 8 o'clock :**

and bar hy Me. Faline.nh soever the fat may bə dlsguised- by Or again the case might be put in oven a The wecounts have "Do n

the intrieroles of banking operations.

stranger light. Comparing the two metals by Balestion Yeomen of the Guard"Sr. Sullivan.

Kat3 Kape, Henders, who offers Mavell for selection

Dcus, Lavingston & Co.,

The same consideration applies to the trade weight there ware in 1850 31 oz. of silvor to 1 Ganetal Hansge05. Valse Estudiantina... Waldtenfel.

between India and Japan, Japan being also a oz. of gold, whorens the proportion between them Boleation w Dorothy ma

..Geller. Hongkong, 9th May, 184.

to-day was barely 19 of silver tot of gold. Se Galop

Dance Com

Michiels STATEMENT OF ACCOUNTS TO Star DecoMen, 1892.

for which abs ales hoe to pay in silver. The largest fire experienced for the last thirty years at Tintain, says the N. Daily hares f550 each fully paid up

Capital:-

a pizca elled Hapel, or worth of the river. Sandry creditors News, ocenrred ar the 21st it, at daybreak; at Hoogkong und Empai Bank.......... within a mile of the Viceroy'r yamôi. This Provision for briz Enrique repaire portion of the suburbs of Ticala len parti. Provision for bad debts cularly busy one. Ono hundred and thirty-seven large business bocase wore burnt out, and their goods, ato, valued at a taillion dollars, complete houses, godowns and dwelling konses to tho numbar of 2,000 rooms," as the Chinese com- pute thom were also invelvet. The total loss could not be less than Tle, 1,500,000,

BOMBAY SODAS." We continue to supply berge hotties shore tofors, Free of Extra Charge-to those of our Cortomers who prefer to have them to the or-lations; at one time a man bolonged to his destroyed. In addition to the beeinces Goodwill - dinary size,

- COAST PORT ORDERS,

whenever praulicablo. are despatched by dest

steaiar lotring after receipt of order.

own village, to his own province, or at most to his van country.to-day the horizon of humanity was enlarged, a grea: movement upread life and welfare on all sides, nations. know each other better every day, and the world was hardly large enough Eor the

For COAST POBI, Waters are packed and pieced on brord abis at Hongkong prices; and the full amount allowed for Packages and Emp-sphere of our activities; hence the numerous ties when received in good condition.

Counterfoil Order Books supplied free or puniform fashion interests common to the international agreements to regalate in a plication.

Our Registered Talographie Address is

DISPENSARY, HONGKONG."

And all signed messages addressed thus will receive prompt attention.

سفید

Tolographic intelligence was revival yester day of the suspension of the National Cordage Company of the United States. This is the Cent was known. The combinad ospital of ume under which the great Ameriena Bapa

monopoly of the rope trade, the various the Trust amounted to $25,000,000 and great offorts were made to mozes my absolute civilized world; eonventions of almost patents being bought up in order to provont universal application regulated telegraphs, great disadvantages in respect to the adaption outside firmes continuing busive dept at postal affairs, railways, the system of improvemente in marnisoture, and all the of weights and mesures, the public other asual devices were adopted to crush pp. position. It would seem, however, that the ation of Castoms tariffs, parents, and sorene has broken down. Whether the sce copyright."Why?" he asked, "should it pusion means that the monoarn is unable to "not be the same with money, an instrumeat it liabilities or merely that the Trust bas

been dissolved is not known.

The following is a List of Waters always keptment which is international par excellence, rudy took:-

FURE AERATED WATER

SODA WATER ‚·

LEMONADE

POTASH WATER

SELTZER WATER

LITHIA WATEE

SARSAPABILLA WATER

TONIC WATER GINGER ALE

GINGERADE

LEMON SQUABI

RASPBERRYADE,

LIABILITIES.

Amonut paid H. G. Brown ne por, hat

Banchat......an baha Properly

Saville erectiona, machinery, &ar ~Barque Petsho

Bargoe Wm. Le Lacher.

Briy Varique cardin Suhooner Congo.

Staim lannoh Zales

Sundry cuttings and properties Bankan votlinga Mulosay onltingir Furnitura

..........

stock of timber in Philippines, Hongkong,

House propertT.. Bosta. Implements, stores, &cnyi

Shanghai, Rods, &o....... Taradem shares... Sandry debtore... Casù in hand............. vii... Deposit of duties

Ón cargo per barque Piashow ....my Sundry estimate:-

Uncompleted voyages of barques For

shaw, Wre. Da chur

Value of unexpired portion of polision... Stock of coalesman Hewall atnak Pilot but (cons on c Balazos of profil sad loss court

Ins

WORKING ACCOUNT, 1892,

DK. To charges To salarios and rages Cana To bad debts facing 31,359.75 writte off towards provision for bad and doubt ful debts)

and To offre expense in Hongkong To telegrame To auditor's fees

and which is the most indispensable of Some of the miseries of life in the East are "all? Why, indead? In fact, some in- depicted in a little article in the last number of ternational arrangeleent regarding money

the Quiver by Miss Alios June Muirhead, who says in the core of her paper:-"I was taking. seems inevitable. Europe and Asia cannot a little sofa-rest, after day crowded with en. afford for ever to ace commerce betweengagements and worries. My alionery work in them impeded by a constantly fluctuating than useal. Visitors had occupied my customary the native site of Shanghai had tired me more xchange. Some common standard must be writing hours, so that the homeward mail Lad agreed upon, and since there is got enough failed to escry letters I longed to soud, while ma outooming mail had failed to bring lattera Llonged gold for the whole world the only alternate roosive. I had been tempted by asney morning tive is the adoption of bimetallisas. As to have all our winter carpets and fur rugs spread the safety and sufficiency of that syatozo we them before they could be rescued while the same To lom ou pld skoks at Kobe and Tientsin

out on the lawn, and a sodden delige had soaked interest....

To abanged nnot do better than refer our readers toelag, poaring through an aususpected bole ja

and the very able speech of Mr. Geo. JANTESON, ceiling is car spare room where I was superin-To loss on barque Dorothy so

the roof. had brought deve a huge fragment of

writers stocks, do in Philippines of Shanghai, reproduced in another column fonding the remeral of the farniturs for speedy Tales un baryce Penshen and F. Le In yesterday's issue on gave a translation of repairs, when I received a request, not to by re-

Lacheur working tinahading sost of re pairs and general overbal) an article by Mr. OrtoMAR HAUPT in which fad, to scomodate next day a missionary To loss on stam launch Lotus working the alarmet view of the over-production servant bod mashed a faveurite rase. precious couple from inland, bound for Europe. A olamay

of silver is advanced, and in which it is stated with home associations; my tailor had brought that the metal can be produced for 8d. or 9dhouse, after a month's delay, a set of furniture- covers spoiled by carelessness; and through these (19 un ounce. So can gold, and many a placer various vesations experietuves had bess running tainer has become wealthy after poly a few au undertone of toothash." This le truly a weaks' work with his own hands. We have depressing picture of an avalancha of unfortunate

atronatsnoer to look not to the cheapest but to the average cost of production, and wary owere af silver mines are discovering that at present price it does not pay to work then. The Sheridan Mining Co. of Shanghai ówne

No Credit given for Bottle that look Girty or greasy, or that appear to have been asod for any etter purpose than that of containing Aerated Waters, a sagh Botties are never and again

by us.

A. 8. WATSON & CO., LIMITED, The Hongkong Dispensary, Hongkong.

NOTICE TO CORRESPONDENTS. Valy pongamicstions relating to the news ocfumné should ko nidressed to... ***The Editor,”

Correspondents are requested to forward their name

By profit on masenille parking and sales of timber, do. in the Phillippines and with Br profit on Farique and Congo working..

arents By morip fans

By balange transferred to proit and loss

$

4.

504.00

$933, 242.81

."

Proportion of Silver Bilvor. Gold. to Gold:!

Year.

1801-10 2.8,002,000 £ 2,480,000 82

to 1

1811-20 £,866,000

1,596.009 8.0, 1

1,953,000 2,0

1891-90 4,075,000 1881-40 5.278,000 2,830,000 1.8 1841-50

7,634,000 .9 8,867,000 1451-60 8,190,000 27,985,000 28 1961-70 10.375.000 28 $12,000 41 1870-80 18162,000 24.150,000 - .75 1381-83 21.438.000 20804,000 1.03 1888-95 90,000,000 £1,000,000 1.80 (Silver being taken throughout at old value (of 60d. par on}

large importer of Indian raw cotton and that if 600, was the fair averago value of aliver ty. but notil Gormany broke away and controot-

Ol'oonsait may be eaid, and has often been aid. that aush a Union would not last, that our nation or another would be breaking sdrift to sait salfishands. That in a matter of opiatðu, no postive proof could be addreed one way or the other. All that can be said is that, no. far, no

Thus it will be seen that in the early yours of the century the prolaction of silvor was in valse 3 timer that of gold, while for the past 10 years it has been abant 1.17:1. From 1800 to 1870 the ratio of production varied enormous- We shoul, in fast, be nothing ap between when the proportion was 31. 1-and ralne jed binetallic area the current value over Indis and the Farther Enst the very barrier that remained constant for over 100 years on

And yo saried to may appreciable extent. 360,00.0) which is now embarrassing ber financial rations hardly be called fatitions the price today, the world was not quite in its infancy at 10.191.14 with the West. Having made guli aziífcially other things being equal and munding it in the beginning of the entury. CommeTJA SKÁ 11,102 62

scars by demonetising silver in Europe, it is mary with the law of supply and demand, should barking fascialand in those days as in Dur 600.00 3,343.53 no proposed to make silver artificially scaron is be something like 1020 per os The form and mss of business ween as abroad and fudia, with a view to redress the balançe. going contra the wo matals by might four-headed as now. silver did its function KIS,258.01 It is, however, bayand the prostage of this or mses of existing stocks. The same or s wolt the as a mediuor of exobange what bus Association to dilato un objections that pesen siiller result was obtained if they locked at va happened to make li Toss itted for the purpose c. themselves from an Indian point of view to a lara. The whole axisting stock of precīɔng me- now? But again rasuming, as I have said, that polivy that would contact her arroung at hans tuls in the world, woiond and uncoined, in esti timetallum is astablished with a fixal ratio and ant disturb her commercial relations abroad, instel at £3,000,000,000 sterling, of which silver the mists are open to fren coluage, it seems $1,400,00

Our purpose is rather to urge that the question is £600,000,000 and gold £1,300,000,000. The vident if your area is afficinally wide that 49,009.84

18 one which must not be. Tooked at erolosire. average sannal production of gold for the ilver mover esa depart materially from the 28,73 100-ly from an Indian standpoint; for Eng-past ten years has bene £12,000,000 sterling, or mist valas. The onresacy of the aron is thos 17,090.00 land, is vitally in crated in the trade and my an increase on existing stock of 14 per cent compounded of the two metala-it is mif 19.15000 tunncial systems, not only of ladis but of The average annual production of silver at old son were to friss the whole into pas mass and 14,901.20

Be the whole East. It is not only the interests cotio of 15). I is £28,600,000 ve en almost iden

en your oins from the compound. How much 6,301. of India that are one roed; the mannfastaring Voal increase of a t ifs over par om. Here fa alisor and how much is gost is perfectly im 6.857.03 pre-emineage of Great Britain, alcwudy seriously ugain it is apparent that if the demand for silver material. Whatever of vither motal is pro 4,875.13 shaken by the growing diffenties of commercial and remained as before, there was and is nothing from the mines, after dednotion of so 3,6737 intercourse with silver-using countries, would be in excessive supply that could amount for the oth as may be requiret-for-the-arts, falls-at- 11.55944

3,013,93 still more gravely prejudiced by the farther dis fall in price.

ance into the general miss of exchange medium. turbance of exchange that must inavitably ranit. It them look now at the other side of the The price of commodities will vary with the - 30,573.03 While the mills of Lancashles have been fataly Cautor. Fins the demand rapsing onetout? nut of this general mass, but the ong .....553.90 idle, mills in Japan bery been working the falleat The demand for a thing depends upon the ass metal as compared with the older cannot 5250.00 time, and now machinery of varied character is you put it to If all the world ware, from whimsary. Eo long as the mints are open the alvor 011-43baing rapidly not up. The cotton industry of or by foron of legislation, wrldenly to take to produose can always gat mint value for his 1,638.00 Japan is, in fact, advancing by leaps and bounds, waaring wool es things and discarding cotton the silvor, and of coured he will not sell it far and the purpose is evidently entertained of com price of cotton things would go down, and it last. It silver were eally being produced in peting with Manchester in the production there wore sory great stocke of cotton things tous quantities, 85 5 or 10 times the value 5,574.36 of the finest quality of rain. Possessing the in existence the prices would go dowu very much of rold prolage, then no doubt it would become

same advantage as India is respect of cheap This is precisely what has happened to allvar. In

question of the size of your.bimetallic union 1,870.69 labour, Japan tre the advantage over Bombay 1816 England led the way by euroting that gold, cotiparal with the rest of the world. If your 6,203.00. of possessing cheap col close at hand; nud and gold aloue, should be the mirrandy media, anion comprised practically the whole camer

C 59 though she has at prament to import the greater She turned out of man great quantity of leercial world-my Europe, the U. S., and the great, 17,703:15 part of her raw eation, tha is at a lass dis and sassed to woln say wore (axcept subsidiary British solates and Rependencies, then no mal- advantage in this respet than England, and which is of no acnoua) But at that time and for what the relative prodaction might be the will obviously be favoured in her internour for many years aftar the east of Europe was ratio must remain steady. Prices of commodities with China by overg fresh variation of exchangs bimatallio, that is to say the mints of some or would adjust themelzas to the sam totul cf e. between silver and Fold-using evastries all of the chief countries were open to the old plus silver irrespective of the quantities 7,807.10 At a moment when offo ta nze being made by free image of silver or gold and silver vir- of vach in circulation. Lathe number of 6,190.14 our diplomsey to extend intercourse with Chins cofsted side by side with gold, at the fired ratio of gold in circulation and gama in silver, and Japan by obtaining freer intecourse with of 15: 1. Now as long as sy mint is open to had lot the ratio ba 20:1.then the currency of the 20 the inhabitants and remoring fiscal obstruations, the free coinsge of both gold and silver iron world stany given mopsat is (x + so y)in gold. 1,500.00 60 42 to exwood the onesumption of manufactures ·| lating together at a fixed ratio the demand. The two instals am for a ́l curranes, perpass. $92.75in the production of which our bouris populo indefinite. If you own always get your silver on you- bare in affent, paradoxical as it may 1000tion is so vitally interested, we should be usiued and turned into currency the demande de getallion with two meals. That is 1,719.27

geutralisiur these offorle by widening the gulf must always equal the supply. Because what to say: so long as the Tuina holds together, you 2,44.85

between the (gohl) post of prajulang nur mann-ever ailver is produced so much of it as is not have all the effects that would result if your our factores and the (silver) price for which they sell required for the arts de manufactures on here verdy ware absolutely mosometallic. 10,800.71 to 8 point that would make our export trade to always find na ontle. He was speaking of

1,439.64 vilver-using countries almost impossible.

course of bimetallic countries. They would see The Committee onnovira that there is not Intaron what would happen in the event of a 22,093.06 Bround for any nonflict of opinion as to the osterious divergence of price between the ten stosa tainly of this romlt. They have, therafors, metals. Ho merely noted in passing that he less hesitation in asoiating themselves with tween 1816 and 1872 the mints of Europe did as SEX.A08.09 the protest of their correspondents in Chian, be a matter of fast camiin open, and so there was good reason has been shown why ons nation

cause they fad themselves in sympathy with is always a'demand for silvar.

hould cut berwolf off from the rest, or what known views of the Government of India as fo The notion of England in the isolating hor. she would gain by so doing, and as the world the remedy that would host nonollate all the self had no affest, dhe bimetallic ares being as was mostly governed by reason when no 45.149.82riona interest affected.

yat wide enough. But in 1973 the Germandalf-interest osme into play, that surely was no 1,586,06 Experience and enquiry have convinced mer Government decidet ofter much discession par insuperable objection to trying the experiment 3400 chants and manufacturers that the depression in the reform of her carreter system, to adopt the it all events, danin it is urged that to give a our trade with the East has been brought about gold standard and to sin anls gold. This Solitions value to silver cant be wound_polioz, 11, icly through the appreciation of gold in restricted the area of silver circulation still and must avontually make matters wares instead $53,509 99 Europe, and the conseguint divergence in value frther it decreased the demand for silver and of better. But what him stallista afmed at was between it and silver that has resuited from the increased the demand for gold. The insvit inorsasing the demand for silver by increasing dislocation of the tie between the two matals; able result was that silver began to flow to the its use. The rate world than not be fictitious e. and they are persuaded that a cure is to be found only remaining countries whose mints ware es it wand ba based on a genuine demnaud. in the nonsticstion, rather than in further stiff open to recairo is on equal terms with If it was true that the premut depreciated demonetisation, of silver.

gold, siz, the wints of the Latin Uaioa. Had price of silver hat bean brought about simply It is held as a settled, conviction by the great these minte cuained open the result would bave sud soty by the setion of man in auxite 11.03.63 majority of those amorcoed in the Easter beez that gold would here continued to flow out legislation, night it not be said that the presect $19,191,90 | trade that the resening of the minds of the und silver to flow in notil the whole of the low valno was a fotitions valds! Unto that world to the ooinagi of both meta's aka stiind currency baosma siivor. Not choosing to a legislation and go back, simply in the status quo ratio would at once obviate the fovocial diffieal that result the French statesman alsad their rate 1873 and the prina of silver, would go back ties of India and remore commercial disabilities minta. first partially and then wholly, to the in all probability to its old value. Would any which threaten to assume disastrous propertions public coinage of silver. No ono blames them; ne say that the price of find. at which zilver

And vet if the opposite policy is pushed to a further or of coarse it was a wise and pradiat step, stod for 150 years was folition? trame. But if it is bold to be impasibatil the result was to rostriot still farther there was less silver relatively to gold in tłu i to outertain, et present, the recognition, later the demand for silver, and now practically world use thun there was then

nationally, of both metala sa mesar con fixed the whole of Europe is obsed to coiunge Again, one often hears it aaid wilver in a com it is altogether a mistake to ascribe the dealere gecricity, he lowered his tre life boats. By bedance ourried forward to a new sccount 17,2018 bale of relative vaine, the Committee is oop of silver. Thus a very large region which codity and you os no moro fix the price of vinced that a polley of non-interference-would formerly used to absorb many millions sterling silver than you can fix the price of cheers er pression to over-production. I silver were

$18,191 29 he leas barmful then further partial and local of silver par sanum in colungs has been ofond butter. Here there was a little confusion. la robabilitated as money the whole stock and

Regislation. Esther than such a palley, the to that metal, and on the other. band there has contrias that had a gåd standard silver was a theannaal production would be absorbed with

Association would prefer a scrapsione non-inter- been a correspondingly increased demand for commodity, and in cutries with a silver ference with the natural laws of supply and geldt is callated that the ingresad da standard galt was a commodity. By publicts out difficulty; and in course of time Europe

THE " BOKHARA” MEMORIALS. demand. The operation of those laws would wand for gold within the last 20 years, chief declaring or sancting that one metal shall be the Tuz news telegraphed by Router that at will come to ace that it canot do without

in time, produce something like finality in in Germany and the U.S., in addition to all the medium of exchange for all payments you take the request of Anurses Belgium has issued silver, that gold is insufficient, and that there

The Sub-Committee appointed to carry out the relative value of th provicas motale; old demand. is over £200,000,000, while not only it out of the category of commodities of invitations for the resumption of the Mone-must be a reversion to bimetallian. But

the decisions of the Bolehara Find Committee whorens Local Ingiulation would not only ba has the demand for silver in Europe wholly plaes it in contrast to all other articles. It In regard to the erection of memorials in Hong-unclusive, bat would interfere serioasty consed except for the arts and for sabsidiary in the con article against which all the others tary Couftrence of the 20th inst. should there is no doubt the China Association is H., A. V. CARBINE COMPETITION. Fong and the Fespadores have decided in plac with the internal prosperity of India (which he coinage, but old German coins have been public are exchange and the prions of all articles vary not have too much importance attached in it. correct in the opinion expressed in the letter

jog a window in St. John's Cathedral and errot been stimulated by an increasing and aboudintly sold to the extent of over 200,000,000 sterling. with the supply of the malium. f gold in the The Volunteers rosawed their competition on ing a granite monument on Sand leland. currency) and would be deplorable in its eff.ot Until England is propared to adopt bimetal-to the Treasury published in another column,

It seems therefore that thisis quite enough to lium, when the supply is increased prions go aturday last. The shooling was extremely

Arrangements have been made for the solo on the manufactoring in fustry of Great Britain. nccount for the divergence in price. and that np. when the supply is rastriated either absolute- lism nothing effective can be done for the that until bimetalliam is adopted a policy good, there being an excellent light and very |tion of a design for the window in Loudon,

which is largely ispudsat for an outlet on the here we have the whole explanation. The point ly or in proportion to the work to be done, rehabilitation of silver, and the rawut debate of non-interference will be lose harmful the wind. In the "Lahe Farse" event the The granite moment, which bes boon Greater East, ontalde of Indls, with which as he wished to all special attention to was this prices go down. The precise relation between in the House of Cuamous showed that, althan farther partial and local legislatina.o-itions ware etarding at 00 yards, kneeling sompleted, is now awaiting shipment for the Immane merda has been built up andas via, that this momentens rejult was not the prines and the amount of the motallio currency

yards, and prone al 500; marking as for Pesonderes na mau-of-war by which the Ad more favourable currency conditions.

annsequence of the operation of any natural was a dificult au lotitonte problem, but roughly. though the mirvesoot is making steady and Legislation of this clameter would glass freing, that it 4 for a hallways, 8 contro, mital, Commander-in-Chief, has very kindly Shanghai correspondents point out, invalead the lation. Given the logislation, the rasalt follows of onerandy the mere of it will gives for au

The orastion of that commeros has, as surlar, but purely and simply the result of logic the rule was undoubted, is, the greater thesupply indeed rapid progress in that country, the simply result in temporally disturbing and 2 enter. The following are a few of the wasted to have it onveyed.

I can be sear during the maxt few days at the employment of a vast capital, iz Banks, Books, of course, but the legislation was a pacely particular dommodity, thatis prices will rise, siker process of conversion is still far from .com-the exchanges, making the ductuations

| Gan-fan-kook qusery in Kowloon Bay-

Industrial Companies, and all the various ad voluntary not which paad never have been things being eqani, and the lass the supply the plete Mr. GLADSTONE declared uncompro-moro violent than they would be i

If Bimarok and his advisors had loss can collera of commechtins get for their Arrangements have been made for photo-inots of trade capital which has been already dens. misingly against the double standard, and the matter were left entirely alone, and

seriously depreciated by the late currency dis thought differently it would not have been goods...prices go down. But countries can de- graphs of it to be taken.

turbances in Europe and which is still mors done, and moreover It was an aut vhicholars or esot that is metals instead of 400 the question may be regarded as definitely doing no permanent "good. The boom in

gravely menaced by the further demonetisation might even now be undone. There was shall be deemed to be the m diam of exchange, hung up for at least so lug as the present süver that followed the passing of the Shor

of silver that would be the virtual outcome of nothing in the nature of things which compell and that debts me be paid in uiler cas or the exclusive surrepor legislation for the Indian either England in 1816 or Germany in 1873 or other or parity in oo and partly in the other. Government may, remain in power. As a man Act, with the subsequent collapse,

Empire.I have, do, matter of form probably the invitations now was one of the worst misfortunes that issued by Belgium will be accepted, but ever bofel Hongkong. Had that boom not may be accepted as a foregone conclusion taken place we would have been spared that there will be no practical result from the much of the trouble that has taken place in Conference. In the resolution by which the our share market during the last two years previous session was adjourned the hops was expressed that "during the interval the

There were 1,773 visitors to the City Hall *careful study of the documents submitted Museum last weik, of whom 150 wers Europeans. "to the Conference, will base permitted the

Amongst the passengers leaving for Japan by “discovery of an equitable agresciant, which the Gaelis this morning are Major-Generat "shall not infringo in any way the fanda-Barker and Mrs, and Mine Barker. “mental principles of the monetary policy The silk ox Northern Pacific steamer Victoria, "of the different countries." But the Britial which left Yokohams on the 15th April, was delegates in their report say"For our delivered in New York on the 5th inst (20 days) "selves we are doable to share these hopes. At the Magistener yesterday the master of “It appeared to us that the discussions had ing 36 passengers in 19 of the sumber per the steau-launch. Willing was oned $50 for carry.

"shown such divergenos of interests that wilted in his ficanes, "there was little more prospect of an agree

The Bnal for the tennis championship is to ment after or interval of a few months.be played on Thursday afternoon, when Surgeor "We did not. however, think it politic to-Maden will mat Mr. H. Ploskony, the holder.

The game will commence at 3.80. "oppose a wish generally entertained by the

and address with sunstions addremand to the Editor, not far pahle tips, but as evidence of good faith.

All latters for publiation should be written on one aids of the paper only.

No anonymenaly signed communications that have appoured in other pipowa frat ulii ba izterted,

Orders for extra dopies of the Daily Preet shoul?

be sunk hofurn 11 wal: un but day of paliicntior

After that hour the supply in-Recited,

Telegraphão Adimen Pram.

AO. Box 90.

DEATH.

Talenhone No, 12.

At No. 98, Crookside, Tokotams, an the 29th April, Joan HUDSON Macdereen, aged 55 yonra.

The Daily Press.

Horexone, MAY.9TH, 1898.

—

LOSS OF THE GERMAN SHIP

HARMONTA”

མཡura LL

PROFIT AND Loaa Account.. Dr.

To cost of extmordinary repairs toj and general overhaul of brig Enrique treated as depreciation and written of

what is represented as a very fine pro- 27 alt, -Captain Leathe, of the German, ship Oar Anjer oorrespondent writes under date of perty in Colorado, but unfortunately for Harmonia, sepurta that his rossa commed too halage of working account transferred

the shareholders it in quable to work at leak in the meridian of the Cape of Good Hope, and that on the 29th und 30th Murob, in latitude

a profit. The alleged over-production of silver is a simple bugbear started by gold mometallists to scare the timid or because they are themelvas deceived in the matter.

39.38 de Sont aud longituda 65.49 dag. East

Or.

be encountered a very severe gale, and from that By amount brought forward from hands to be at the pumps night and day without timn the leak Ineenused every day requiring all cassation. When in latitude 12.20 deg. South and

As is shown by Mr. Jawan20x, the price of longitude 103.43 deg. East, finding it impassible

silver may be depressed by legislation, but to keep the vessel afloat, be decided to abandon

her, and the Norwegian bark Decima being in

mod proceeded with his men on board, sing quantity of provisions which Captain Svendsen with his officers and men left here on the 3rd of the Decima book, possession of. Captain Leathe just overland for ristavin, and the bonts were the 25th inst. despatched with the steamer Sweerderon qo

best seors:

LADIES PUBss,

200 400 500 yerde yada, yards.

162 Lammert 21 QU Gunner, C. Hayward 19 Corel. JacksoI,

GY IDON

Total,

09

29....... 62 20.......

10

10........57

18 18

22 BG

15.......

16

12.......

Sergt. Buzoan. 2 10 der spins. ......................... Ganner Boondoram...... Captain Maluma ......

Ginoor Watts

18 men fred:

Sugt Collins.

· MEMBERS' CUP-OFER TÚ OFFICERA DAKÝ. Ordinary Marking.

200 400 520 Jarde. Faris, yard. Total.

Capt. Metallo 29

E. Denson.

Revidwood

F& 12...... *

24 16 15 GOKHANDANT'S CUF

Markier as for Class firing.

Gr. Chapma

200 10 255

Or BF Lammers. 36 Songt. Danean

10 6

71.

60

Test recount Lom final dividend for 1991 of

1 per share 26,000

$

8,548.18

B

15,380,85

Kenumeration to Consulting Cmmittee Att Doperóntion, de. $1,500........ 12,500 $1

-ו

499.84

THE QUINA ASSOCIATION AND THE CURRENUY QUESTION:

The following corrispondence his dean for- |- warded to as for pablisation

22

Så scratch

22 soatch

ys scratch

87

29 suratok

... *

18

Servant

22 18 10

35

21 18

7

4... 49

-AT

Gr. G. G. Hogward £3 25

21

Corp. Jackson

24-90

Gr. Hancock

Bernt, Collins

Gr. Bucury-tal Gr. Wyliei. V

WINNERS LADIES' PURSK-Gunner (bapman." ALHES CUP-Lent. Deusda. COMMANDANT'S CUP-Gannor Chapma CONSOLATION PRIZE-Gr. G. C. Hayward.

HONGKONG RIFLE ASSOCIATION.

I hate the honour to be, Sir, your obelisnt

R. 8. GUNDAY, Hoa, Bos, China Asavelation.

The Boerotary, Hongkong Chamber of Com

merva

Cains Assisolation,

d.) E. 8. GUNDRY, Hon, Sec., China Association. To the Secretary to the Treasury, Crowsnry

Chambers; Whiteball..

A CONUISE STATEMENT OF THE THEORY OF BIMETALLISM.

the US. shout the som time to adopt a gold In that can both metals are taken out of the standard. Each no doubt dit so under the im-list of commoditiss and the sum of thạo two pression that a monomets!ld standard was on constitutes the metallic durmacy Conceivably the whole the best, and cartainly they over onesgh this might be dons without firing China Association,

anticipated such a tremendous catastrophe ass ratio betwoon them; hat at that would 31, Lombard Street,

Lisy have brought on the world, though there lead to grant practical inconvenience it had at- 7th April, 1893.

were shrewd hands even then who predicted what ways boon the custom of governments to declara Sir, I have the honour to encloss for the in

would happen. Biver in 1878 was doing ita how much of one should be doomed equivalent to formation of the Hongkong Chamber of Cota-

work as well as over it did. Nobody complained, a given weight of the other. When that was merca copy of a letter which bas been addressd

of it or refused to take it, and it seems arcer done the two matale were linked together in sach to H. f. Treasury, in pursuance of a reggettheuer which res bara ass, was that given by (set the ball rolling us she did. silver would at perbootly immaterial to a preditor whether he One of the ables itatments of the bistalli lain as anything can be that had Germany auta way as to be practically identical. It was from the Commit ton of the Associatiou at Blitz. Gen. Jamieson in the span be runde in the this day has born still worth did. un en hai, deprecating any emolusive legislation in re-

got paid in silver or is gold-all be wanted to recent debata on the subject by the Shanghai Tho object of him tallats was to restore public bo assured of was that the metal be received Jde yde. yds. Points Tobal.gard t the Tadian standard of sarrency,

I have not a copy of the Shanghal etter at Literary and Debating Society. The great fact confidence in silver and persuade mankind that would foxeh Lim as much in vilas in turn as he Or. Hopkina... Es 21 24 39 4 ... 72 band but it has been made publis in the before then, he said, and the one that had given the alteration in value is not the result of any gave for it and would not depreciate in his hands. N.-C. Herald, it has doubtless dome under the rise to all the trouble, was this that whereas the natural or faevitable law but simply the con. So far as the precious metals were waed as gold price of silver had been uniformly steady sequence of swiss legalation, nod is endeavour money they were no part of the wealth of the notice of yone Committee.

or approximately steady for over a hundred years to procure if passible a repeat of that legislation world. The real wealth of the world was còm- before 1876, it had, beginning with that year, The difloslty about it is this, that no single molicies-things that minister to the sapport bagno to fall and had gone on falkog orur einsation, by itself can do anything offatosl If and comfort of man. The trade of the world until it had dropped from 60d, por ez to abant silver is to be restored to a fixed valus in relation consisted in the interghange of them senmodi The question was what had cacaof this to gold it can only be done by international tios All the gold and silver in the world might great fell for until they had satisfactorily agreemont over a exficiently wide area. That be sank to the bottom of the ne, and the world, determined the cause it was impossible to it need not be absolutely abirarsal is shown by as a world, he none the poorer. There would be come to agreement as to a remedy. Most peopls the fact that the adoption of the single gold as much to eat and to drink and to wear as avar, 31, Lombard Street,

had liburzio been in, the habit of potating to standard by Englandia181 had no effect baterer house would be as, ormfortable, borse and 6th April, 1893. the great output of silver and saying "is lain disturbing the ratio, simply because there was carriages would to as useful as over. Un's the Bit-In partanes of my letter of the 9th question of supply and demand, if you leave it an ample enough bimetallio area without her to precion metals, though not wealth in themselves, "Cenforense, and therefore contented our Sunday, commenced discharging her cargo of The bank tamer Clam, which arrived on

Febenary, Thare now the honour to cubmit, for alone it will and its own level, it is impossible to ourry all the prodcution of the mi

Bat no represented wealth. By the common consent of the consideration of Her Majesty's Government, boletor up the price of silver and if you attempt. singlation on maintain a limetallic standard mankind they entitl-athe ponsor of them for the "selves with expressing doubts as to the kerosine into the tanks at Kowloon yesterday

a letter from the Shanghai branch of this Aato do so it will only make matters a great deal against the rest of the world. The operation of iron bing to call for a share in the world's wealth. "Advantages to be gained from further worslag, This is the first arrival of baik oll

soviation, giving reasons for believing that the worse than if you do nothing. The implies the natural rele known as the Gresham law They were the sluray of wealth, or of valim, "meetings, and urged that under no-cir- in Hougtong.

Seven.monbers of the above competed for the proposed closing of the Indian mints would bare tion is that the production of alvor is sat of all draws mt all the more valuable metal and leaves and one of the great assentials of such a medium Long Bango Oup on Saturday afternoon, but of a calamitous effect on the interests of British proportion to that of gold and the fall is therefore her with the cheapar; silver being equally good that it should be stoady; that is to say that "cumstances should the Conference ba

Our Anjer correspondent writes:-Caffein them only Inspector Mass showed aarthing like commeros, not vally is Chien bat throughout due to an inevitable law. But is it the factay in Fresco a gold and gold having more tho pousser of say 1.000 oz of gold or of silver called together again except for the Schott, of the German barque Emilis, from New decent form. A fair 4 points at the 700 yards Bastara Asis. For although the magnitude of that the production of silver has really been purchasing power in way England it would sheud be able to get as much value for it at one esnsideration of a definite proposal pountered on the 20th December in the 800 range landed lite the winner of the Japau. Hongkong, the Straits Setlements, and supply nud demand is no new thing, it has bona fal. But there is all the differenes in the him 5, 10, or 20 years hence as to-day. A bani uta York to Halphong, reports that in a gain of wind range followed by the fret class sure of 15 at the China trade gives it natural premiasse, excessive in relation to gold? The law of naturally tend to low where it is most use-time as at another, that it should be as useful 19 "manating from the Government of man was washed overbeard and drorned trophy and not aggregate spoon with a total of every cute of Britab trade in the silver uning operating on gold and silver since the world world between national and international stability is of scursu impossible, but the great

the United States or some other Gorern-

84 points. Mr. N. Gilles won the handicap countries of Asia are equally concerned... bagas, na on everything else. It simply uns bimetallisas. In the latter se gold on complaint is that gold is the more unable of The next competition of the Golf Olab will spoon with a soors of 74 počata. The sceZUR "ment." What the Conference reassembles take ples on Thursday, Felisy, and Saturday were as follow

The question resanta steelf under twa mo this, that the exobange value of a thing depaoda not flow out or be driven out there is no the two, that it is much more liable to extreme upon the relation between the supply sad the place where it can be driven to. If gold and silver notuntions of supply, and töst us a matter of the United States will naturally be expected next. In addition to the MoEwen Challangs

70 500. Net Hong Gita 1-Trade between Eastern Asin nad India, demand. The supply may very wells the demand have equal purchasing power in oue aantry as fast it has varied very, much more than allvar Cup there aro a unmber of other primes, includ

yards.purda.aggro.points. ink. to submit a definite proposal, and the only ing a gold championship medal and a silver Inggutor Mana

2-Trade between Eastern Asia and England is popatani or the demand may vary while the in another Thors on be no possible raasan tor during the past 20 years. Gold has appreciated, 084 and the rest of the Empire.· ́ Mr. Watson, 41.09

supply-is constant, or both may vary. Increase sending one out of the country more than sit is said, 30 per cent or more while silver has de- proposal they have to submit is the adoption andicap medal. These with the bogey

Mr. Duncan

The Shanghai Committee invite special atton- the eupply of decrees the demand and the prien other. Ballion of sourse will be shipped bere precintel but littls in relation to commodities. of international bimetallism. But this the prizes, waps, and other trophies will give a good, GHE

The argument.ilat bimetalliste found on this tion to the rapid growth in the import of Indian goes down, docrowse the supply or increase the and there scording to the rate of discount and chance for some of the outsiders. The competi

rarn, which has reached a total of 67.000 tons, demand and the prios gove up. If incruse ef the exigencies of trade, but seaming, which byle that a union of tis petals adopted over a mejority of the principal European states tions are somewbat Ister than sal owing to

ralued at nearly Tis. 20,000,000, while the im supply and increase of demand kosp pace the hypothesis you are bound to do, that gold bea anffigiently wide heals would give the most stabla will flatly refuse, aven to discuss, and the the fact that the apply of bills had ruajes Byton, B. II. 20 retted

portokvaro from Bugland remains nearly stating price coming steady.

the same purchasing power say in England as in medium; any falling-uff in the supply of oss Conference will separate without agresingal, but as a limited number have now arrived

ary st about 4,000 tons. Ocnaldurations of staple Now, which or how many of those saassa bave Franos, and the same with slivar, what possible would probably be compensated by a csin play, which has not been vary energetic of

THE INTERPORT RIFLE, MATCH, open the recommendation of any common fate, own now be recommenced. Unfortunately,

and waltability bare doubtless had their effect been operating on silver and to what extent? reason can you assign for supposing that gold the other, and so i mean aurag supply would in producing those results; but the steady level. Let us look first at supply. This was question would be drained away from. England and re- be kept p. To use the soils of the late Pro- course of action. A perusal of the pruhowever, a large portion of the naval contingent

of exchange between two silver-aning countrim | of figure, Tha Agares he would give then placed by allver?

-sor Jovana, suppose ven have a city drawing who always bring an element of pocertainty A fotogram was received yesterday aquone has anquestionably been an Important Instop, were taken from Dr. Soetbeers's Matarinien, Assuming that binnfallsu were once astab its water supply from two separate and far apart ceedings at the previous sittings of the late the game-will not be able to take a part in lng that the Singapore team had made total To do the mists of India to silver, ge to enter busk naastently, goted and enferred to by the lished, at any gatio you places, may fül ever a sources, pach dependent on its own rainfall. You Conference fully warrants this belief, the contests, the Imperieuse having left for of 786 points to the store match; their more blish a gold porreper, would be to abolish the Gold and Silver Commission na haring the suffoiently wide ares, would the ratio remain may have one half of city suffering from a water cording to the American paper also, Pre. the North he greens as bones and hoeing 3 behind that mads. By the suprats, advantage which she now posseses, and to place. Highest thority. This was mibilished in 1866 straty in the spout of the greatly incruia farine, while the other half was an add grâm là sơ lưạy that the moratoh players will - tives of Hoogkong The Singapore men have her menufacturers at the same disairaalaga of phy for later date be referred to the Economist uulpit of sites That is a question which no supply. Bat suppoas you connect the two sourced sident CLEVELAND dess Hot Parent any doubtless bent a decided request segit congratulated Epping. So they nothing barasyng exghange by which the Wandweer sad to klappt's book on the Currency Castion doubt perplexes many, but we sawer sourdent with pipe leading to comition vervalt from proptical resnita from the resembling of "to pek to some good során,

manufacturer le mironky bandimpped 20s of publisked in 1882, 297

"by soni 19 mania" de bay Bm glast three je na phies the alty is supplied, the fallure of onj

312

.ds

440

£7

20

U....58 13......74

92......477

.....