1906-09-03 — Page 3

PHIL

G

18 CURRENCY ATION.

EXCHANGE.

SWADESHI MOVEMENT.

DESTING IN CALCUTTA.

THE HONGKONG DAILY PRESS, MONDAY, SEPTEMBER 3rd, 1906.

A

BROKERS AND BANKS.

A LIVELY BANK HESTING.

(1). That the Bank bra at times refused to advance on Government Paper especially in Decoraber last.

the complaints which relate to objections conneoted with endorsements, which are, we think, mostly well founded. I may mention, to which however, that the regulations

Wai

spartions. If there is any i

Lilippine Interests has The Commit received the followingtter from the Corernor

There has recently been a good deal of the grow the Bank, bat aOV, General, in reply to its commucisation with regard to the proposed recainage of the silver

that it is well that I should briefly to these peso:-This stication of the Commits of

eriticism of the Bank in the papers, and I think panegyrist criticisms The Swadeshi now was retaken, and it was

The two chief complaints have Philippine Interests ought to be called to the

been: the the Committee has totally miscon-resolved not to accept partition as a settled fact

the silver coine

forward agitation. The mooling ceived the value that is given to t of foreign constri, in its protest forwarded to but to press

The "Statorman's

ys-Perkapa this offer. The relation of the intrinsic value was enthus tie but orderly. to the fire and standard conventional value that sug coin male in part of silver malkins to Calcutta has never with send aeria

uess Kathering. The proceedings commenced with president. He prayed to a gold standard is not determined by the neuess

thepen road by of the constituents of the coin, the Almighty for his lasings to enable the intrinsic value of the silver therein contained.

portance whether a cain is ende people to keep the Swadeshi vow, he blessed It is of no

certain small the Almighty for the growth of their silver and is of of, or whether it outsing 79 of silver, spirit of self-help and the development but deplored ent rangement that prevailed among the bat is enough larger so that the amount of their home industries. silver within the chin remains the s theory that the value of a silver coin as a certain sections of the inhabitants of their ewa circulating medium depends upon the amount counter and hoped the somewhat strained re- of silver in it, has long se been totally Iations that existed between the rulers and the exploded in contries where the gold standard valed would bo restored. prevai's, and the silver coin has a fixed relation to the standard unit of gold, irrespection of the market price of silver. Any other theory would make the coinage depend upon the faetuating valita of silver, notwithstanding the gold standard.

199

Mr. Ben then t-livered his presidential speech. He said the 5th of August rinild never be forgat ten by the Benzali people, the day on which that crust blow was aimed at longut fer it soused the extranet of the Indian national unino It was in, who & gear age moved the resolution Under the theory of a gold standard, the calling this then prosent at the Culenta world over silver coins have a fixed relation to Towa Hall to abstain from purchasing British the gold standard unit, and that relation re-manufactures sa long as the partition resolation zains constant year in and year out, respective was at withdrawn. When he moved that of the fluctuatie in the price of silver, because resolution he bad burdly any idea that it would

be attended with such meet resells the silver coin is ut all times by the int's pare railing in thoss countries changed at a fixed ratio within the limitations provided by law.

When the Commiting stated the Burgess of silver coins in certain countries, it overlooked entirely the question of the ralur of the silver enntained in suck ccine.

facu

រ

the Mihough the intrinsic value is) above per cent of its fixed inition The German mark to the gold standard pirca has an intrinsic value of $416, whis is valno is 81.1; that is, the intrinsic value is considerably less than ous-balf its face valne The French -fraus piece has an intrinsic valne of $0.4-74, and a face valoe of 80965; that is, its face valus is substantially double its intrinsic value. The Frane of the same weight and fine noss, as that referred to is also the coin of other forming the Latin Manetary Union, Countries viz. Belgium, Switzerlural. Italy (where the coin is called the line) and after the year 1968 Griere sure the rein is en lied has drachmay. The English shilling has a face value of 80242, the and a intr.asic value of 801133; in other

As than a percent of the face value, The Aus fuze rules t trin-Hungary crown he $1203, and an intrinsic value of Sud, that ie, ita intrinsic value is less than one-half its face value.

Should a recoinag of Philippine currency be taborized on a basis of only 1000 fine, the pee, which is exchangeable for $0.50

A

MONEY. LOST IN NEWSPAPERS.

KODAKS AT HOME PRICES.

No, 3 FOLDING POCKET KOUAK 23-12-68) $38.00

4 CARTRIDGE

(25.15.0L) $60,000

LONG. HING & CO..

THE

No. 17, QUEEN'S ROAD.

3

[35

CHAMPAGNE

OF THE TWENTIETH CENTURY.

MOET &

DRY

CHANDON.

IMPERIAL.

GOLD FOIL.

PER CASE 2 BOTTLES

214

SOLE AGENTS:

361

H.

PRICE & CO..

TROUBLES OF AN AMATEUR FINANCIER.

WINE MERCHANTS,

The affairs of an M. Plate member for North-East Suffolk, contain interesting details of how Bone members of Parliment live. When be breamo momber of Parlament in

In 185, with £5,000 to £6,000 a year, of 1835, he had £200 a year. but is stupinther of more paid his election expe

be

iu much harm by causing a tension of feniiugend or discount fer we have no nots issneppeared for five days in the second week of married « lady, the spending for their joint/

He used them however to hold their sculs in

16

1.

balances

words, the intrinsic value is waterially led Mr. Morley Limes!f had admitted than paper realise that the resources of nor market triuwed to catch what, at the time of with moneylenders, financiers, and pawn.

pears and only to give vent to their feelings in the most moderate monor. The partition bud been tried for a year and there was no sign that ut toy amponlar among the Bengalis but the people were reconciled. The partition was so among hurge section of the European thoughtfal English planting cem with Indian ministration had men declared themselves against the measure.

that it was indefensibl, theagh he would not broke it.

He believed the interests of

of goud Government would not be efectually secured until the parti tion was anualled bat object conll be fully attained if their Angle Inding friends necerded expected from them. The interests of the Ludian communities were identical on this point. The speaker went into refer to the devotion

10

the embarrassment of

Altog ther

807UW

$40.00

RR, QUEENS ROAD CENTRAL.

THE

ROBINSON PIANO

CO.. LTD.

BUILD

THE MOST SERVICEARLE

PIANOS.

FOR THIS CLAMATE;

SOLIDLY

CONSTRUCTED

AND ALL PARTS THOROUGHLY

SEASONED AT OUR FACTORY

HERE.

PRICES FROM $390

CASH OR CREDIT.

Mr. H. Courtenay Wright, the President of

An Indian shareholder, apparently interested A great demonstration was held at Calcutta Con August 7th to col-brate the day when the the Bank of Bombay, made a long speech at the forception has been taken are not of our making. 38th meeting of shareholders on August 9th.in the Stock Exchange. replied at length. He The more interesting passages were as follows: elaimed to have been, until he was alarmed by amount of discounts, the "chertored Swadeshi campaign was opened. All the well- own wadeshi leaders took part. Some put

Chairman assamed a high moral tone numbers present down at 20,00. Nath Bagarjon presented fo- Babu Surandin

when he spoke of the sins of omission and com- mission of the Stock Exchange, and he spoke quite like a father to the other Banks which are woll able to take care of themaires. When be spoke of the enormous extent of the speculation

Garerumont Paper lo

wrong (2). That the Bank gives uudne preferance to in

nothing, If I know

I know this, that the investmont of ite funds in the purchase of

RDA what constitutes enormous speculations, bills.

sinca 1901. is in very With regard to the first point I would say the

gambling that the Bank did not stop leading against moderate Government Paper in December last, though it is with equal chauss: while the Bank of every lanu was not granted. I must decline to Bombay gambles with insded din with a fore- over into the reasons why particular loans were knowledge of the ebbing and towing tide of the us it is contrary to all banking usage Money Market and it buysand sall independent nat givan.

of the intrinsic value of the s-curity. The individual transaction, of to disenus publicly

sany er to give reasons why particular business was enterprises and the industry of the contry can the particular loans referred were in the opinion out the Stock Exchange. In floating lonus, coinsed, but will content myself by saying that do without the Bank of Bombay, but not with-

Stock Brobange. - nut without the of the Eperetary and the Directors refused fGovernment can do without the Bank of Bombay,

We have been told bat good and suffizient reamous.

carries Block Exchange

STUTU that the Piannos Minister has given the The of stringency or stress the Government ars von call that large in a Pesidency like Bombay?. Presidency Banks to an erstand that in time of paper hedget by forward sales, and de prepared to advance them all the money they Without it, bow could the business be carried on In this. Mr. Chairman, you were either fair to require against the lod ement of Government for investors and sellers at ange of the market

profit out of it. to the best of the Banks nor to the Stock Excimuge paper, and with a condition procedent that

The report was ultimately passed, and the our knowledge and belief zu such undertaking

directors re-el-cel they make

xists. The refout of these loans is said to have been directed against the stock Exchange. The effect of that solution in promoting the and we have boon toll of the coursqu

which would ensue if such loans ware refused Izoarded their wildest anti- Swabshi cause faul cipatins Swadeshi had pa-red like a wave all by the Banks of England or France in the or Indin and events which might have been London or Paris markets. We have to work In Tandon spread over Uso or three generations had been under very different conditions.

There is a definition of a tri-wookly tery It was at the instiga the Bank of England is able to land crowded in a few pos

American of care which describes it as "a paper which comes out for one week, and The following fasts will pince the Conxuitter Lion of the Anglaise prees that the Govern largely, and frequently does so without danger

tries fa come out in the next." The definition in possession of information which apparently ment was prevailed on to declare an open war of its cash reserves being depleted. In Paris. And not riman to it at the time of writing its against Swadesh and they all knew what the Book of France bass highly effectire and letter to the Governor-Gorral aunt the indeplorable rests if lind produced. On the one expansive note issue by means of which it is has been approximately responded to by the mission, or if the feta lan come to that Com and Swadeshi and done incalculable go to able to meet large demands for accommodation unfortunato exporioues of the latest venture in by dannating their industrial without Ines of cash. In Bombay we innst Londen daily journalism. The Majority, having the country activities, but it had on the other hand resulted prepared for cash withdrawak whenever we

July, came out na more, mittes, they are not stated in its communication.

The Majordy, indeed, which ha lind Taking the present price of silver for con

anexpected as

as the facile humorists of Fleet Stret unkindly

and like a real county magnale he หล sideration all a fullowing cave,

between the rules and the rated which was when with to most sudon or

i had try house, are still denie: necess

put it, went over to the majority. Yet it bad purposes. He hought a town home and a conn a fine felt its duty to promote a light railway in done its best. the

8 mentioned assuming that value to be 30-3, 41 per ones of

London market.

Its promoters put rtised Suffolk. In 1899

stepfather left him substantially the deplored by all right thinking men of both desude, and we 24

front in Fleet Streat. They standard silver, which

zed

Couto EX600, The light railway led to The chairman then went on to trace the the report. There is, ton, no certainty

the

expansively. Government treasury quotation of to-day, the intrinsic value of the communition.

cantare expensively that the silver dollar of the United States is SOTAN

will be made available. I need not say Every hoarding in London preclaimed the treable, and he put £73,000 in before he know where he was. This led to his buying shares The silver is exchange for a dollar gold history of Bengal in the past year and the rule

Dampfyll Fuller which he described as

Railway to the extent of of Bir

immitmen of the new light, and 84. much money against

in but in the Great Eastern tror throughout the Inud. He shuddered to that we are prepared to lend think how it would all have ended if the Fuller Governmen: paper, and it is a matter of comme money west base ho laid out

knowledge that we do lend largely on this way as would have supplied for the floating £10000, with a view to get them to buy the when silvertising cost less light railway. This did not come off, and has lost newspaper We. than it res

competition in 7,000 over these shares, carrying them orer now, and regime had been allowed to continue. The cur

Nor was The

till February in this year. In Dreember 1903 tai had fallen go bis administration and all Security and some of one regular customers of

however, bold that our duty los chiefly in the journalism was less sovore.

he frst dealt with money-lenders, receiving THEY ARE they could so was to lift their hearts to Heaven are members of the stock exchange. in thank Eniness.

direction of assisting trade and we are nof

brought

to the birth, by any avans u bel£1,400 cash for his bill for 122,000, a. 6 months. His experience was that he got saven-tenths of many of

the amount the borrowed in bak notes In pared to withhold money required for tenderity, when after long gastation it was purposes in order that occasional assistance halfpenny worth. Compared with

Dews and racing tips, it was a more than 1905 he began to buy jewellery under arrange- was given to operstars in Government the oroning papers which live largely on racing paper who appear to expert that we shall uexist

catered, and on what, in fact, is called the Times system." thou at all times regardless of the position of creditable production. Nor was it a restricted moute, providing for deferred payments an it our balances, and, if necessary, at the expense clientele for whom it

We do not who support it seemed, a priori, to hare His object in making these purchases was to

raise money on the jewellery by depositing of our regular constituents,

good reason for coating. The sails were think that the large operators in Government

he bought 400 the general election at all events, might fairly brokers. are limited, and it would be well if this fact

than it is. The be called the prevailing wind of popular favour of joallory, in respect of which he paid were more appreciated

£48,000, leaving 200 doe at the im have st And it cannot be said to have failed to catch it.

of the grisis. flis liabilities were £248,0 0 operations in Troveramont paper

proper-On one day in the brief weak of its existence it times assumed large and undue tions in relation to the available resources had a circulation of thres and a half lakhs of and his assets under £9,000. The Bank-

ood the market, of

previous experience

two lakhs. And yet, having toddled that on August 3rd, 1995, you bought jewel- them the support which quite reasonably they has led us to be wary of financing these larva / sopics, and it seems ou no day to have fallen | ruptcy Registrer said: "I are in your acupunts, operations which lead, as they base done in the along for a day short of a week it died, bating lory on credit from Bensou of Old Bond that Bonson Do you suppose and of trade. I thinks the Correarket, in tell in its lust momonts a story like that of Street for £2,000, and on the same tag reply to a memorial submitted in 1991 that confidence that they ought to lave done well, would have sold the jewellery to you on The would con'sin materially larger intrinsi value in silver then do the silver coins of any

"under no circumstances would it be their though they didn't, protested that the venture dit if you had told him you were going

had been necess is very sense butt a financial straight to the pawnbroker with it?" of the great commercial sations of the ths

(Government's) duty, it securities. I world. The murdieval Pops who spoke of a debtor: I cannot say, but 1 think he woul

It is an interesting world above referred to. This

speculation in Government securities. venture to sak our friends in the Stock certain condottiere as b. ing an excellent gen probably have done. element of the comannication from the

may do with clot that for which Committee on Philippine Interests which which

Exchange to bear in mind that the sources erul if only he knew how to win battles was conversation, and illustrates how a member of of the market are limited and set to depend equally contemptuous of the practical criteria:

If we had had more money the ordinary man goes to jail. The case the ди has been entirely overlocked, and

the dangers of He thought the absence of sericus disturbance too much on tho aseistare of the Bank in their of hould bare succeeded," we see to hear the nstrates too undermines the whole, superstructure of its

Ja an interview with a representative of the The Commitine's theory

in old Bengal had been due to the praiseworth transactions, which cannot always be given communication.

is a curious study in contemporary social Petit Journal, Admiral Fournier, after au

with seemed to be that the value of a site is behaviour of the tiovernment of Bengal. The having regard to the limitations I have spoken andaunted promoters of this larest journalistic instaliment system of jewellery selling

tioning of culture and A mas

the importance of Singapore from the of the depended upra the degree of fiueness of Miser ihervin soutaine, irespetice of the partition an duinistrative measure hud of and to our duty to trade in general. I take failure say-much as those other daring men

for their rulers to this oppertunity to invite the e-cperation of would have left a different re ord "if the bowl history.

our banking neigement paper within

es to endeavour to keep had been stronger." Well, but is not Fleet Street ample mesur, by nature bern to make historical commercial and strategical points of view, is strawn with the wreckage of similar ventures researches, taking to politics and railway pauce, reported to have said:

*It may be stated that a dent supported by size and of the quantity of silver contained proved a failus anil it therein.

No such theory exists anywhere, in judge whether it was worth all its attemilsur

he tolerated. The risk. The Swadeshi worement must advance the operations in

Brains and high endeavour and even a not and being dragged down slowly till he comes to unbonatiful measure of public support have buying jewellery on Monday to pass on Tues such a base, properly fortified, could absolutely the world, nor would rucoinage, it authorize would add serral million for its own sake and he would earnestly ask all reasonable limits whenever they show a tendency

allegation that the Bank sheltered itself behind failed to secure early snccess for many a sesery-day to meet pressing creditors. On the credit prohibit the passage of any naval forcs, and prees to the amount of coin in circulation is countrymen over to give it up as their to rau to excess. I would briefly allude to an cause would triumph if they proceeded on Five all s

the Bank of Bengal in 1901 on being asked by ing enterprice How mary fortunes were side are the glories of a Parliamentary career; could render more difileult commercial com in the Islands, and would still

canticus and jadicions lines.

wasted on that eminently respectable paper the on the other sixteen years of financial worry musication between the Chien seas and Europe, the Finance Minister why it refused to lend inhabitants of these Islands a better value.

bi conclusion, the speaker said:

Echo-yoneer of the halfpenny press of London engaged in getting ent of a financial tatge which could virtually be suppressed. This of silver Bu

in Tal that is

which died a lingering death a year or two begun in a time of exuberant political aspiration, carrying out of a scheme which has long bee coin, then could be fed in the silver coits of bonad 16 by the laws of the hand, to respect against Government paper. The reply is that

I would next refer to the second point and to see? Even vow there are prominent daily Tight railways, about which all England went studied and prepared can assuredly not be any of the great comercial nations of as the constituted authority and to uphoid all the no such letter was received,

in the Metropolie which, but for wild in 1888 or so, and which were to resuscitate regarded as a wenses diefed against such or Dwspaperx

the rural population, have proved a dismal such a Power having interests or colonies in world at the present tins. La confident that traditions which you have learned from British

would appeal the criticism which has been made of the Bank's

the long purse of some millionaire, with more alleged that our bills are this Committee, interested as test of it rule. To our young men

failure in niue cases out of len, and with thom the China seas. In reality it does thresten bill portfolie. It is bring

enthusiasm for his party than care for his I would

bove

CATERS ended their

have collapsed many Kke the M. F: in question them all. money,

Would reading the within any discredit to the untion.

Thera is A familiar sying longogo. indorsement by the Treasurer and the facts, but she led away by false und irresponsible by way of contrast the bills which the Bank of to keep themselves within the strict England discounts are said to be rediscountable

19 not ont of herein stated, resise its conclusions, and ren flat hounds of discipline and order. They are boys at a moment's notics. It is hardly necessary that every sovereign that is

for me to say that neither the Bank of England the mines of the world costs three in the got. of reinage, if it securs, will ia no

nor the Bank of Bombay are in the abit of ting of it. Something like this wight be said or indirectly impair any interests today and will be citizens to-morrow.

their Bills. As comparison bas discounting

journalistic enterprise. Grant fortunes sro take this opportunity of saying made, and successes are askinred which arrest been made I may

ion. But these phenomena t BTS 100 strengthom the whele financini system at

if

that there is this important similarity hetween public attention. Pesos lay increasing around wvvely

our bills and there of the Bauk of Ergland. I., times as wideading sa they are striking. The in circulation, but particularly by placing them

in various ways, will look up ani nevist

e susceptible to every movement of that they are upon such a basis that they all wot be in endeavours with a charitable

short history of the Majority shows that there is For 51 XLE weeks before susthersid to the story, and invites attention to the rate of discount

to the

of amount danger of ssport or of being welted.

attention was drawn to and alter

the care with which tey may be lost in the us in attaining the objects which mean the progress and development of the country.

Mr. Banerjee was then led upon by ilo bibs discounted and purchased, the Bank's production of newspapers oven when they are

favourable.-Times of Fudia.

great cunning the lunatic, ro bud been president to were the following resolution: weekly statement shared an almost continuous started under conditions in many respects

That the inhabitants of Culentta, in a public decEns in the total of bills. This did not occur

rosting up and down the street, then kid him. sif bebics & pillar and watched for the ap-Siagupere for this port on the 31st Angust, at meeting assembled, desire to commemorate the froto any dearth of hills in the market, to

proach of some unsuspecting citizen. He was 4 p.m., with the outward English Mails, and is 7th August as the eng on which best year the begin with at any rate, but from the simple fact agitation against the partition of Bengal was that rates of discount at many other centres

not long in eonceciment when a peaceable das hers as the 5th Sept, abort 6 am. market warranted and the bills found their

Chinamon est remarking the unusual quet of the The I.G.M. Mesmer Gacisenau,

Germer Mails with dates troncaring the rood entered from an intersecting strest. meat, and in commemorating this day there lower than the condition of the local menting due again renews the Swadeshi row way into the thesprat market. If then this

a howl the manise sprang out, but the China-

light-Blat August, and and declines to accept the partition of Bougal Bank like the Bank of England does ant

men after just one glance sprinted like light 31 Angust, left Colombo on Friday, the settled fact, and resolves to continue the redccount its bills, it can alse, like the Bank view to its of England, rapel o al tract bills throngh its

The Straits Times of Aug. 27th, referring to the petition to the Gpreruer of Hongkong, ning to a trap standard arst shined up it in about Monday evening, the lith instant. It in further alleged that our

The str. Benglee, from Antwerp and London, record time. The Innatic that eat and backed rate of discount agiletion against it with a nilification or withdrawal.

lille have ac other tangible security behind

at the foot of the standard doubtless believing Left Singapors on 30th August them than two signatures. As a matter of fact

This is a very properly and moderately er

he enak est it down, but the

polies on Friday, weapon. A

the 31st alt, at p.m., and is due THE LATE COLONEL MONCRIEFF. many of our bille carry nuwerons endorsements. pressed missire to a British Governor, and it

and we have ret good reason for knowing that would be well if other opponents of the habit badly turn the edge of only effret was to : The O. & O. Hlr. Dorie sailed from Shanghai The C.P.R. str. Empress of Jupan arrived at substantial by

wero to follow such an excellent example as constable, who bad been waiting his opportunity, here on the 3rd inst, at daylight Der Usiasiatische Lloyd remarks, in the

The death of Colonel Moncrief corries us they are invariably backed

that syt by these good men is longkong And thos ran up and after a strugga maanged to

overcome and disarm the marise. He was Shaughai at 11.30p.m. on Friday, the 31st Aug. course of a reference to the proposed appoint ment of a Belgian engineer for the Canton back to the early days of very beavy nuzzle.curity. The business of the bank is to assist loading orduauce. At a time when British trade as much as possible, and I venture to any Hankow railway

of eighty tens that our bills which bear the endorsement of yet Sir Matthew has and not much sympathy to If one remembers the fact that the Hong- artillery had reached a weight for a device shroffs and others are safe, and that we hold show Lis petitioners, apparently, s he merely taken to Central oliceation and just outside and loft again at 6 p.m. on Saturday for. Hong.

fretting their brains

would give the matter his caseful consideration and it took two powertal Heropan Sergeants

they could de to keap him from breaking away kong Government, shout a year ago put the inventors were DICOUSERTY MPans at the disposal of the Governor. to provide protection for the gun teams. Several that the trading classes here with whom we des sent to them the stereotyped reply that bo the Police Court was seized with another frenzy kong, and is due hers at 9 am on Tuesday, the

When the frenzy passed the madman General at Wachang for the revvinption of the types of errriages on the disappearing " prin. are as honest and trustworthy us similar classes His Excellency may not be blaueworthy in the the Chinumien's sincerity, and the attitude

was taken away to the General Hospital for conecesion from the Americans aud Belgians,ciple were put forward the essential ides was anywhere. And after all the chief test of this matter, however, xa he has opportunity of tot self beld out his hands to be masscled and haughtai on Friday, the 31st Aug., at 10a.in. business is in the results for compared with our the Celestial Govern munt may not instilical diservation. There was one amasing Tuesday, the 28th Aug., arrived at Shaughni gun should be exposed caly when being of Fate that the irvoy we cannot help smiling at the

armed and discharged; the fonding was per- turu are the losses incurred in bills have been

the feature in the affair which otherwise The Moucrieff carriages absolutely infritesimal over s long series of much confidence in their protestations of & which gives this matter a new amet. One can eavily nuderstand that the Hongkong Govoru formed under

were the most successful of this class. Colonel years.

I quite agree that as the bark is the custodian clean-tranded suggestion is all very well in its serious one. This was the bobaviour of

arrest. Hogame down and strutted round proudly ment has emphatically protested against this intention of the railway administration and Moncriell's erential principle was to stare ap

on the fact that it only sup the energy of the recoil and then to utilise it of Government balances and the floating balances way, but without a check of the kind which is tenant of the tram standard after the lunatic's at 3.30 p.m. on Friday, the 31st August. Leses

to return the its condition that caly English of plied Japanese engineers should be engaged. Of he did in ice to the firing position. This of the Presidency that its assets ought to be furnished by the levy of indirect customs due desoribing what he would have done to the Singapore on the 1st inst., .., and may in

two ways; by raising a counterweight correspondingly liquid, and I am glad to have by Chinamen, epium would be introduced scot course, the Chinese will answer, and with some and by compressing air through the agency of the opportunity of saying that the average for

With the univores! adbption of breads the past year of the daily

and other ane, that the Hongkong Government just ground, Jade this not with the right person: ! leading mechanism at which the British plus investments in Government of cash fror, and the habit would enormously increase, to shake bis fist in the madman's face and expected here on or about the 6th inst.

authorised public securities to all call money per cent., though Governor-Getstal Chang Chih-tang Government long kooked asiance--and the im has redeemed the concession from the Americans provement of mechanical appliances, the Mon including savings kenka deposits is 87

erief system, where it was retained, was altered which I think shows a bighly liquid position. and Belgians, the railway is not built by him or the Chinese Government, but by a privata com- plmost out of recognition. But the governing With regard to the recent complaints in the pany, which is in no way hound by the agree, idea-the utilisation of the energy of the recoil newspapers, 1 bare to esy that the Public Debt ments of Chang Chih-tung. One is ourions to for the mechanical handling of the weapon-is Department of the Bank has of late been paying know how this unpleasantly complicated matter more widely employed in artillery than ever. It interest on Securities more expeditiously than

ever before. We are moving in the matter of } alone made the quick-firing gun a possibility. will further develop."

. . currency

nor

The promoters of The Majority, with a cheery and it with George of the Strand forį

The treasury at all times, | displayed by their young aned, some of whom in one with us in this matter for they intimated the Three Wise Alen of Gotham.

ін

Eastern Bengal had not only taken the Swadeshi vow but had sworn to a celibato life long as they were angaged in the Swedushi moremont. A country that end produce such youths need out despair of its four greatness: at the same. Line le egreted certain outbursts of juvenile boisterousnes

was

You are

in

members are in the welfare of all the inhabitarte pecially to beharo yo thnk they lay narediscountable in any mark t in India, while

of the Islands, wit,

1

48K

Let

for

theg, but upon the century. will them at themselves by stern self repression S

Beru

The Committee ought be to be reminded that before acting upon this proposition the Congress of the United States suminoted before it the most eminent experts on the use of silver in gold standard countries, and that those experts all agreed in recommending the snac! went of the law tbst nas finaily passed by

devolre.

Dur

the ouernas duties which some day will dev upon them. 1 huge at the same time Anglo-Indian friends to whom we are indebted our national

Clougress and that the set was passed by Courted by the boycott and the Swadeshi move.

investi. gross without objection, after though gation before a Committee of most distinguished financiers,

HONGKONG AND THE KWANGTUNG RAILWAY.

00

the

DERMAN COMMENT

|

cover.

says

ot

NACCS3.

THE ANTI-OPIUM PETITION,

SINGAPORE COMMENT.

desire for checking opium scnsumption.

A CHINESE ARMED LUNATIC.

3101

1 is

The Singapore Fran Prew tells the following story:

A Chinese lunatic who possessed himself of o chopper and rau about brandishing it in south. bridge-road orcated a panie there and soon cleared either side koning their doors to keep him out. the street of trafic, the occupies of the houses on

far as t

alt

HIRE FROM $10 PER MONTH.

Hongkong, 2nd August, 1906,

SINGAPORE

A FRENCH ADMIRAL ON

[16

Bet a fact which has to be considered is that the creation of a naval port at Singapore is the first step taken by Great Britain in the way in which she longs to go-namely, to be supreme in marilims commerce in those sens. which, fter having known her fag, have stea its power wane before that of a formidable" rival Germany. Singapore is a key put to the gate of the Chiua seas."

LATEST STEAMER MOVEMENTS.

The P. & 0. 3. N. Co.'s Na. Devonka left.

nd may be expected here on or

4th Bopt

The LG.M. str. Pria: Heinrick, which left here on Tuesday the 28th Aug., arrived at

The str. Prine Waldemar, which left here ou

WAS wust on Friday, the 31st Aug., at coon.

the The GP.R. str. Tartar arrived Vancouver

went so

The str. Arration Apcer, from Calentta, leit

He Innatie lad peoessity called for it.

The N.Y.K. str. Kusano Maru (Australian con-Line

left Manila for this pert on the lat inst, with a fall in the cost of opium."

whether thin angered the lunstic or the stable purposely pastly released his held to give and is expected here on the 3rd inst.

The N.Y.K. str, Nikko Maru (Australian How To LE BEAUTIFUL-Keep your com the braggart a lesson is a moot point, but any plexion, Mrs. Ellen's Creme Charmant, Lait way the lunatic made a spring and nearly got Line) left Nagasaki for this port on the lin Her anything else to happen, int turned and ran for The NY.K. str. Bombay Mart (Borabay

his life, followed by the jeers of the crowd Line) loft Singapore for this port on the 1st inst Charmant and Special Skin Tonic and Pondre his tormentor. The Chinama did not wait for Aug., and is expected here on the 4th fret Charmant will enable you to do it.

713 For all that is known he may bestill running. Specialities for the Skin are the study of a lifetime. A, B. Watson & Co., Ltd., fiole Agents. who shouted: that the wadman was after him. and is expected here on the 7th inst.