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CORRESPONDENCE. THE HISHOP OF MACAO AND EDUCATION.

[TO THE EDITOR OF THE

MONGKONG

HONGKONG'S CURRENCY

PROBLEME.

LECTURE. AT THE CITY HALL

THE HONGKONG DAILY PRESS. SATURDAY, MARCH 112, 1816,

Thera was a numerous attendshes at the City Hall last evening when Mr. J. M. Xavier delivered an exceedingly interest oshing and thoughtful lecture on Hongkong's Currency problems. The lecture was arranged under the auspices of the Hong

DAILY PRESS. SIR,-Concluding, a brief mention of the prize-giving of the Collegio Sta, de Lima, your Mucae correspondent says: This school is under the direction of

a.committee, and the President, the Tishop kong Odd Vó unies' Society. The Hon. fore the passing of aneh n law (a very

of Macao, failed for more thin five years to attend a meeting."

Mr. II. F. Potock, EC., ccupied the

dir.

HONGKONG CLUB.

FANLING COURSE.

YACHT

Following is the result of the Captain's Oup played off on March 4th and 5th:-

·Capt. Campbell

80 eur. 80 tie. Mr. P. M. Hodgson.... 97-17 -80 tie, ME. F. J. de Bomo | MP3), Dowar ung, Dr. T. Lindsay Woods

Mr. G, A. Haetings

96-13 81

88—— 2 84 80-281

97-12 85

ASSOCIATION FOOTBALL

state of the currency of this Colony itself ROYAL na it was, at one time, not unlike the of Shanghai, when Hongkong was over-run, with Chines monies of all kinds: and the third, to the cause of the retention of the evil in this Colony; this is due to the shrewdness of the money-changers. For in spite of the telling effect which the pro- hibition from sirculation of Chinese sub-

clearly discernible in the sudden and entire coins temporarily produced which was removal of premium on silver dollar and the sudden drop of premium on bank-nute to 3 per cent as against 20 odd per cent, be wise step taken by the Coycrament), still they stood their ground tenaciously. For, backed up by taur skill and thorough leuowledge of the profitable nature of their business, which would always yield them a profitable return, whether in buying or Hongkang Daily Pres" and with suggelling,,, if dollar bank-note was tions in the correspondence columns of that bought in for $1.10 in sub coin they paper, observing that the prevalent iden underlying almost all the arguments ad- vanced was evidently that of withdrawa! or redemption of sub-coins from the mar ket with a view to bringing the currency to par. The policy of redemption had been pursued by the Government for a long time, but it had not brought them any At the outset I would like to make it earer a solution. It had shown no effects in tangible form. like a reduction of pre clear that I hold no brief for D. Joao -d'Azevedo e Castro or any members of bismiums ou bank-notes. As a matter of fact

Mr. Xavien fires dealt with propositions I would fain believe that this bald stets ment implies is insinuation of his lord-advanced in the leading articles of the ship's apathy towards the principe school at Macas for female education. Without any qualifying statement from your correspondent is ig difficult to believe that anything se was intended then that his lordship, by his absence from committed meeting, is indifferent to the school for which, until the regrettable expulsion of the nuns from Macau, he had done so,

much to make it an attractive school of high educational value.

world not sell it for less than 81.11 in sub-coin, thus making a clear profit of 1 per cent, and on, and backed up by the knowledge that, no matter what premiums they might be called upon to pay in order to be able to carry on their business, their business would always turn out prontable. and backed up by the knowledge that the their only chance of encoess depends would public, on whose acceptance of their terms continue to allow themselves to be exploit rd, they continued to exploit them to their own advantage simply by continuing to hold out to them the usual little bribery in the shape of premium, and the public

SCHOOLS LEAGUE.

PRERENTATION OF ROPTILES BY HE THS GOVERNOR,

On the ground of the Queen's College yesterday His Excellency the Governor presented the handsome Shields to the winners of the senior division of the Schools' Lesque. (Queen's College) and] tho silver cup to the winners of the second division (St. Stephen's College).

The ceremony was proceded by u. game between the Queen's and St. Stephen's Colleges, the former winning by three goals to love. That they were fortunate to win by go decisive a margin no-one will feel

INTIMATIONS

LANE

ORAWFORD & Co.

JUST RECEIVED:

ANGLO-ORIENT

SEAMLESS REVERSIBLE

CARPETS AND RUGS.

TWO WEARING SURFACES INSTEAD OF ONE IN CHARMING COLOURINGS AND DESIGNS.

THEY ARE OF

BRITISH

MANUFACTURE

BOTH

chapter. But, by reason of a friendship, the premiums of late had shown a decided to their will, thinking that they, too, had disposed to deny, for in mid-field play the DURABLE AND INEXPENSIVE

Absence?

struck a good bargain.

upward tendency. Awuming that all sub

That this undesirable phenomenon of coins now in circulation were redeemed from the market, how might ordinary purevil should not of all exist where the cur rency is a standard one does no validata chases and transactions be effected in their the conjectures often made the, the Money Changers are solely to be held responsible for it as such conjectures are merely efforts of imagination; and, as such, fall to the ground because without the facit

powerless to subvert the currency. connivance of the public they would be The blame, therefore, falls not on them alone but also on the public as the latter are at best accessories to the evil by accept ing the proffered bribe of a premium.

with which 1 am privileged by his lord. ship, I happen to be in a position to speak with son authority as to his lordship' attitude towards the school in question. I write without fear of con.

In 'connection with the question of the tradiction that, far from being spathetic, the Bishop of Macao evinces a keen, ifissning, by the Government of its own votes uno tentatious, interest in the welfare of in place of bank-notes, one most important the Sta. Rosa de Lima. In proof whereof factor of the currency had been overlooked. I will cite one instance of his zeal. When, He alluded to the copper cent, which, fast year, the English section of the school though of a lower value than other coins wag without its lady teacher, his lordship.excopt cash, formed part of the currency,

with the concurrence of the school con-

Just us much notice should be taken of "mittee, deputed his secretary, the Rev. Father Sarmento, to proceed to Hongkong,it ny of sub-coin, as there is also a dis- with a view to secure the services of a thoroughly ehcient certificated English teacher, and to my certain knowledge the rev, gentleman pursued long and patient enquiries in the fulfilment of his mission, In the course of the enquiries, he, rightly enough, called upon the Inspector of English schools in Hongkong, whose kind and ecurteous good offices he promptly obtained. Notwithstanding that the torms offered were extremely attractive -- so altractive, in fact, as to be over and above the standard of remuneration oblain- ing in Hongkong—such was the dearth of professions] certificated teachers that after a week's stay in Hongkong, the Bishop's deputy had to return to Macao and reluctantly report the failure of his

mission,

With this concrete instance of the Bishop of Macao's interest, in the matter of the education of the young at the Portuguese settlement, not to mention others within my knowledge, I will feare your readers to judge of his kuruship's attitude towards the intellectual well- being of those under his spiritual charge.

Yours faithfully,

HONGKONG

The best, the surest and the quickest, if not the only remedy against the evil, then lies with the whole population of the Colony a remedy probably never yet con- crepancy in its value, but for some unceived by the numerous writers on the sub ject because if the opinions of the popula accountable reason its existence seemed to

tion were at one, and if they were to refuse in a body to be influenced by the con- have been ignored altogether,”

The lecturer traced the cause and origin sideration of the prevalent bribery in of the currency anomaly, Shanghai might the way of premium, the purity of the currency will, in the event of such a safely be pointed to, he said, as the place concerted action being taken, bo rehabi. where it originated on account of its two-litated forthwith and without further ado, fold currency, namely Tael and Mexican to'lar, and on account of its not having a standard currency of its own for sub- coins, The sub-ovins in circulation and in use there come from other parts of China and are of such a heterogeneous descrip- tion that no banks could, even if they would, under such circumstances, accept them as legal tender; while it is not an uncommon practice for the natives to receive or make payments for goods sold or bought in small pieces of silver, the value of which was determined by weighing. Such a practica is not at all surprising because Tael itself is nothing more not less than a piece of silver of uniform or standard weight,

For the purpose of the ordmary course of transactions whether in regard to the purchase and sale of the daily necessities

But though this is, 1 take it, the least circuitous way to counteract the evil it would be almost idle, indeed, to expect it to mature; for a very formidable obstacle which cannot possibly be removed, lies across its path. This practically insur mountable obstacle is that the population of this Colony, being a cosmopoatan one. and composed of various communities there can exist zo common ideals, can among whom ideas differ and among whom hardly be expected to be swayed by one opinion.

"For, if a notion were laid before the whole population of this Colony for the purpose of voting for or against the sup pression of the currency evil whereby they would be precluded from receiving any. more premiums I am positively certam that the votes thus cast will be against it in over helming majority because they cannot be made to understand by the most persuasive of arguments that, on its sup pression, the cost of all commodities now ruling must, of necessity, go down, that if the evil be allowed to go on unrestrain of life or to the thousand and one forms ed they are simply contributing towards the benefit only of the Money-Changers of other needs, it is an imperative neces

and that by paying for everything at an sity-one that cannot, under any circum-enhanced cost the difference between this stances whatever, be dispensed with--to enhanced cost and the real est-whief have some sort of changes (Standard would be so if no disparity in currency exists is absorbed by the commission changes preferable) of lower value for charged by the Mency-changera; so all the standard currency

of higher value. profit goes not to their own pockets nor to those of the traders but direct to those Another obvious reason in fevour of such

of the Money-changers a necessity is that, as there-are-innumer

A FRIEND OF MACAO'S. Hongkong, 10th March, 2016,

LONG SERVICE.

[TO THE EDITOR OF THE

DAILY.PRESS."'] SIR-In your issue of the 8th_ingt. publicity was given to the fact that Mr. R. J. Remedios completed 40 years' serviceable things worth a great deal less than a tael or a dollar, it will be the height of folly on the part of those who can afford, to pay every time a tact or a dollar for an object which costs but a cent or two; while it will be an utter impossibility for those who are not overburdened with riches to

in the Mercantile Bank of India Ltd. Mr. Remedios comes third, I believe, amongst those who hold a record for long service in this colony. The first is Mr. E. H. d'Aquino, 1.8.0., who last year completed his 50th anniversary in the service of the Government; next com Mr. E. E. de Silva, who has 4 years to his credit in the service of the China Sugar Refining Co. uuder Messrs, Jardizo, Matheson & Co., Ltd./

It would be interesting to know if any others in this colony can boast a similar record. Yours faithfully,

READER.

Hongkong, 10th March, 1916.

COMPANY REPORT,

HONGKONG ROPE MANUFACTUR-

“ING CO., LTD.

The General Managers and Consulting Committee of the Hongkong Rope Manu facturing Co., Ltd, wil, at the forth coming meeting of shareholders to be held on 25th instant, recommend the following allocation of profits:-

To place to Reserve Fund To pay a Final Dividend of

31 per share wi

To pay a Bonus of $1 per

share.

To pay & Bonus to staff at

Factory To carry forward

880.300.00

60.000.00

60,000.00

3,210.00 41,864.94

Father," said little Rolle,what is appendicitis?" "Appendicitis, my son," answered the deep thinking father, "is something that enables a surgeon to open up-a-man's-atomy, and to remove his entire bank account.”

do so,

In the absence of small changes of Standard currency and in view of the influx of sub-coins from other parts of China, the Chinese, with that inborn as tuteness which is characteristic of their race and which they possess in a remark- ably, higher degree than any other race, soon saw a way to enriching themselves by trafficking in it.

As long as the public will part with bank notes, etc., at a premium, the cur- reacy evil will remain as it is; but, in spite of the public's will or inclination, I am led into the belief that a remedy will be found which will do away with the our- rency evil, although that remedy may be a complex and complicated one. When this comes to pass the currency evil will be a thing of the past, while the Government can with perfect impunity put into cir culation tenfold the amount of sub coin in circulation which has been erroneously thought to be overflowing the market, or it can substitute even nickel coins in their stead without running the slightest risk of a repetition of the currenty evil, And I am more than convinced that the sub stitution of nickel coins for silver coin will be accepted us the standard currency without any demur. (Applause.)

The subject discussion.

Was

then thrown open for

One member of the audience asked what was the difference between the intrinsic value of the actual silver in ten dimes (ter teu-cent pieces) and the Mexican dollar! No answer was returned,

The

St. Stephen's boys were no whit inferior the Queen's They Tarled to carry their excellent work to fruition mainly owing to. the reluctanes of their forwards to tackle determinedly the opposing backs, game was quite a good one al round, the centre balf of St. Stephen's and Johnson of Queen's being easily the foremost players. The winners were extremely lucky in their first two goals, which were

scored the first few minutes of the game, but in front of goal they were a more Aroong the spectators were HE, the dangerous combination than St. Stephen's Governor and Lady May, Mr. Irving (Director of Education), Mr. T, K, Dealy Headmaster of Queen's College), and Mr. E. Ralphs (Inspector of English Schools).

Excellent arrangements were made for the presentation ceremony and for the accommodation of the visitors by Mr. Grant and Mr. Tanner.

Tho

WE HAVE THEM IN SQUARES 3 by 2, 3 by 3 and 3 by 4 Yards.

AND

CORRIDOR, HEARTH, SOFA,

AND BEDSIDE RUGS. COLOURED LITHOS ON APPLICATION.

LANE, CRAWFORD & CO.

WEST RIVER STEAMERS.

[R1

Mr. J. RALSTON (Hon Secretary of the Longue), expressing thanks to His Excel- leney for his attendance, said it was the first time that the Governor had presented the trophics in this competition. League was just 12 years old, having been inaugurated in 1804. The Shield, which HONGKONG, CANTON, MACAO was given to the senior champions, was subscribed tor by the various schools competing. This had been won by Queen's College in 1907, 1908, and 1914 prior to this season. In 1908 the then Governor (Sir Frederick Lugard) presented the silver cup for the junior lengne, for the purpose of creating greater life and zest among the smaller schools. The son very successful; In the Benior League which had been brought to a close kad boen Queen's Ca lege emerged winnergunbeaten, but had drawn one game with St. with St. Stephen's College and one Joseph's College. Thus Queen's gained 14 points ont of a possible 16. In the junior league, St. Stephen's junior team was invincible. It finished an easy first with 1b points to its credit, having lost only one point in a draw with Wanchai Turers-up equal with St. Joseph's Government District School, who were College. (Applause)

JOINT SERVICE OF THE HONGKONG. CANTON AND MACAO STEAMBOAT CO., LTD., AND CHINA NAVIGATION CO., LTD.

LINE

&

You

His EXCELLENCY, before presenting the trophies and medals, gave some useful advice to the boys in regard to their play.. I congratulate Queen's College very heartily Sir Henry said, on their per- formance in the League and in carrying. of the Shield, I am very glad indeed to see that the school has taken such ·Tend- ing part in football. I used to kick a football myself once, some 35 or 40 years ago, and was very fond of the gaze. I would like you boys, when you have the opportunity, to go and watch some of the best football teams in the Colony. want to keep the ball a good deal searcr the ground, and not so much in the air. I know it is very difficult on this ground, but that is the particular art-in-the- Association gume which you ought to cultivate You showed a great deal of speed and cleverness with your feet, but the next time I see you play I hope to see more dribbling, keeping bady closer to the ground. This is only friendly advice, you cultivate the gre scientifically you ought to do extremely well. (Ap plause.)

The Shield was then presented to the Captain of Queen's, and the Cap to the Captain of St. Stephen's College.

HONGKONG LEAGUE, DIV. II.

KOWLOON 7. IZAMICS.

The following players have been selected to represent the Kowlon Dock Juniors against the Islamics at 2 p.m. on the Chub Ground today;-A. Mosesdern; C. Hedley and G. Best; A. Van L genberg, F. Ross, d A Kinross T. Taylor, J. Lime D.. Ogley, J. Smith, and F Clema, Reserves, F. Ribeiro. E. Rocha and W. Taylor.

CRICKET,

CIVIL SERVICE. KOWLOON.

There were no other remarks and the CHAIRMAN expressed the grateful thanks of those present to Mr. Xavier for his lec ture. There was no doubt that this was' B

The following wil represent Civil fler- vice in this match, to be played at Kowloon very thorny question indeed, and he was sure they would consider the arguments this afternoon:-R. E. O. Bird (Capt.), carefully when they saw them in print. E W Hamilton R. A. E. Ponsonby, P. He hoped that all those who were compet-Lamble N. L. Smith, W. H. Edmonds, ent to discuss the subject and wore able R. O. Hatchison, R. 8. Southerton, E. to discuss it in the newspapers would take W, Dawson Sara, and W Berne, the opportunity of doing so, because this Umpire, W. Higby. Beorer, W Fincher. was subject which came very near to all

Shanghai is the direct outcome of the As the deplorable currency evil in unsettled state of its currency, there can be no reason why the money changers should not thrive there because their business in that place is a legitimate one based upon the principle of exchange of the currency of one country for that of the other. But why should they flourish in this Colony whose currency is Standard one This is the cruelsl ques tion. Upon this question more than upon any other the currency difficulty reste

Index on a close examination of all the controversies on the currency question, it is found that this vital question, from which arises a series of causes of the cxist- ence of the currency evil in this Colony, lins not boen understood; for the invari. able thome contained in them is concerned purely with the evil as it is and not with why it is

To answer this question successfully of t, and was very important from the three facts, therefore, must be borze in point of view of the finances of this Colony, as at the present time we were paying out mind as they lead by successive steps to the evil now existing in this Colony. The large sums of money in trying to repair. first refers to the origin and cause of the the evil Especially in this time of war, evil; this has been traced to Shanghai on there was every necessity for husbanding account of its dual currency and the zor our resources and we ought to consider existence of sub-coins of its own currency, every possible remedy for the present state the second to the eircumstances favour of affairs, ing the introduction of the evil into Hong- Long; this is also traceable to the unsettled

A vote of thanks to the lecturer was carried with acclamation.

FAR BASTERN MEN AND THE WAR.

M P Hang, formerly with the Central Engine Works, Ltd., Singapore, who as an officer of the R.N.R. was on the Triumph when she was sunk in the Dardanelles, is now a Navel Sub-Flight Lieutenant

HONGKONG-CANTON

Bingle Fare by Night Steamer Return

(Tailable also for return

by day steamer) Single Faro by Day Steamer Return

HONGKONG TO CANTON, I

$6,00

10.00

4.00

8.00

CANTON TO HONGKONG.

SATURDAY, 11TH MARCH, 1916.

8.00 4.M. HONAM, 10.00 pm. FATSHAN,

8.00 m. FATUHAN. 4.30 p.m. XINBILAN.

SUNDAY, 12TH MARCH, 1916.

10.00 p.m. KINSHAN,

4.30 pm, FATSHAN.

HONGKONG-MACAO LINE.

8.8. BUT TAI, Tona 1,651.J

48.9, MAISHAN, Tons 2,006, HONGKONG TO MACAO. - Weck days at 8 .. and 2 p.m. from the Company's Wing Lok Street Wharf, Sundays st 8 am and 1 p.m. from the Company's Wing Lok Strook Wharf,

tr

MACAO TO HONGKONG

Week days at 7.30 am and 2 p.m. Bundays at 7:30 a.m. and. 3 p.m. EXCURSION TO MACAO SUNDAY, 12TH MARCH, 1916.

The Company's New Steamship

"TAISHAN"

Will depart from the Company's WIG LOK STREET WHARF 1859 am, and return.. Mano 147. D.

Y.B-The Company will also ran a Stommer from Macao on Sunday at 7.30. und from Hongkong at 1 pa.. from the Company's Wing Lok Street Whart

Tuis Steamer connects with the Excursion Stomer retaming from 3sono at 7p.m.

FARES AJ. USUAL

MACAO-CANTON LINE.

8.8. SUI-AN-

Departures from Macao to Canton on Monday, Wednesday and Friday, sil?_p.ar. Lepartures from Canton to Macso on Tuesday, Thursday and Exturday, a1 4.00 pm. JOINT SERVICE OF THE HONGKONG, CANTON AND MACAO STEAMBOAT CO., LTD., THE CHINA NAVIGATION CO. LTDA AND THE INDO-CHINA STEAM NAVIGATION CO., LTD. CANTON-WUCHOW LINE.

B.B. SAINAM, 588 tons, and 8.8. NANNING, 589 tone.

Ops of the above Steamers leaves Canton for Washow every Monday, Wedunday and Friday, at about 8 am, and the other leaves Wachow for Canton on the same days at 850 mm. Bound tripe lake about 5 days. Parongers can return to Hongkong or vice versa by lhe Company' direct Steamers LINTAN and SANUI These vessels have superior. Calta socommodation and are lighted throughout by electricity. Electric Fan in each Cabin,

Booking Offee open daily (Bunday excepted) 9am to 5 pm. Farther particulars may be obtained of the Omics of the

CANTON & MACAO STEAMBOAT CO., LIT., HONGKONG,

Hotel Mansions (First Floor), opposite the Blake Fier.

[198

FORTHCOMING EVENTS.

TO-NIGHT

9.15 pm The Augel in the House," by the Hongkong Amateur Dramatic Clubs in ad of Blas Cros Fand.

Monday, 27th March

6.30 p.m. Hongkong Club, Thirtieth Yearly

General Meeting. Tuesday, 28th March

11.30 sm-Hongkong Ice Co., Ltd., Meeting

Shareholders.

Noon Hospkeng Fire Inintance Co., Ltd,

Meeting of Shareholders. Wednesday, 29th March.

Meeting of Sharehollers. 11.30am Chine Sugar Refairg Co., Ltd,

LONDON SELLING AGENTS

TEA, INDIGO

FLBRES

BRISTLES

OILSEED

Sold on CHRO

mission in Britinda

and Continental ·

HIDES & SKINS Marketa. RUBBER DRUGS

COTTON, WOOL

ORES, MICA GUMS, AND GENERAL

PRODUCE

Samples vaided.

Best ports for consignments In- dicated.

KEYMER, SON & CO., Import Dept.) Whitefriarz, London. "Telegrams, "Koymer, London." Est. 1814.