728478-1842-14-Jul-1842 — Page 2

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THE FRIEND OF CHINA AND HONGKONG GAZETTE.

TRLEND F CHINA AND HONGKONG GAZETTE,

HONGKONG, THURSDAY, JULY, 14TH. 1842.

We would urge on the holders of the Opium Scrip, to lose no fair opportunity of pressing on the attention of Parliament and The country, the justice of their claims. By opportune petitions well timed remon- es and incidental discussions the just rights of the claimants should he kept from ever becoming dormant or forgotten. In the attainment of the desired object-the Sufferers to succeed, must aðöpt O'Connells advice and agitate, agitate, agitate. It is believed payment will be made when the War is onded-many would add i. e, when the Greek calends arrive.

Ix saying public justice, sound policy and political expediency, alike demand an early reimbursement of these claims we only reiterate our previously expressed opinions and the general conviction thereanent.

nancial statement, but as the deficit was nearly £2,000,000 last year; what with the Afghan outbreak, threatened invasion of Tharawaddy, and other unlooked for items of expense, we are sure not much less, per- haps more, will be the actual deficit. We were very glad to see. Sir Robert Peel in his Budget speech touched on the question of Indian finances and their connexion with English credit. Still he hardly did enough, for he treated only incidentally on the col lateral and indirect effects on English cre- dit, of disorder in the Indian finances. He ought to have made a frank avowal of the direct and immediate connexion be- tween the finances of India and those of Great Britain. No time so fitting as when he was making what he called "a full and unreserved disclosure of our financial con- dition" It is notorious that John Bull was pledged (at the expiry of the East India Company's last charter) to make good, if required, the dividends on East India Stock. If therefore the finances of India We are disposed to think a beginning were so dilapidated, that remittances could ought to be made, and we would recom- not be made, the English exchequer is mend some such plan as this for early adop-bound. and would immediately repair them. tion Assuming the value of the surrendered John Bull is little aware how near such a Opium to be £ 2,000,000, (if interest be catastrophe was taking place. All thanks added, this amount would be exceeded,) to Lord Aucklands Russo-phobia. How we would say, permit this Opium Scrip to much might the aspect of India have been be receivable by the Government here for changed for the better had Lord William the purchase or rent of public lands in our Bentinck been destined to continue his rule Colony. Moreover, as Sir Robert Peel to this day? carmot fail to have a Surplus revenue of

Since if India cantnot, England must at least half a million, (should he carry his pay the Stock holders, would it not be project) what could be fairer than to allo- much better to raise any moncy required cate the whole or part of this surplus in for India in London? Where it could Equidation of the Opium Claims. It might be obtained so much cheaper, seeing also, be readily done somewhat after this fashion. there they have so direct an interest Let the Home Government permit a ten per in the matter. We understand the new Cent of the duties payable on China Pro- Indian 5 per cent Loan is filling up very duce, to be receivable in Opium Scrip. slowly at Calcutta, mention is even made Then something like a proper Marketable that a 6 per cent Loan will be necessary, value would be given the Opium certifi- whilst in London the money would be obtai- cates, which would be transferable, and innable at perhaps 31, certainly not more some four or five years hence, the claims would be wholly extinguished. A ten per Cent on China-produce duties, would last year have amounted to fully £360,000. If some such plan as this were sanctioned by Parliament, we think it would produce much more contentment to the interested, thru the most positive assurance by Gov- ernment of exacting full payment from the Cirese at the conclusion of the War. Carrying into effect the arrangement sug- gested, does not preclude, nor bar the claim, is against the Celestial Empire. But hereafter, it may comport with British pol- icy and our supposed interest to waive the prosecution of this claim, in that case, (by Our plan being realised,) no political injus- tice no

no social wrong would be inflicted.

Some little experience in political mat- ters warrants us in saying to secure public attention at home to any question not of party interest or association, it is indispen- sably necessary to have in the Metropolis a paid agent. The same should be so ap- pointed, as to be the true representative of the parties interested. We may add, as the delegate of such body, an agent will at all times be received by the Minister with far more rêspectful attention, than any mere Member of Parliament or aspirant for Colonial or local popularity. We have known audiences granted willingly to such agents by ministers, who at the same time as far as possible shirked interviews with dil- letante lords and lordlings who may have condescended to take up a question-very graciously bent on seeing (according to their phraseology) what was to be done in the matter.

In the year ending the 5th May 1836 there was a surplus on the Indian Revenue of £1.530,000. In the present year at the same time there must be a deficit of at least £3,000,000. We have not yet seen the fi

than 3 or 4 per cent. As a rule the London market should be uniformly tried. Millions upon millions have been wholly lost by investments in Foreign and Ameri can Securities which might have been safe, ly laid ont in Colonial and Indian stocks for local improvements and peaceful en- terprises. It will surprise some of our En- glish readers to know, that it is at no very distant period since the Indian Government was constrained to take up money at 10 per cent!

WHETHER the plan suggested by "Dulce" be adopted, we know not. At home such-an portunity of taking an honest advantage of an det Here, the Mercantile interests from the magnitude of Parliament would be immediately seized. of their operations would not avail themselves of such to them, small and unimportant advantages. It was we think the Prince Pückler Muskau, who said the only after dinner desert ordinarily taiment, was dry biscuits. An ex-minister of brought on the table of an English house of enter- Charles X records that in his travels in England he has in a like predicament sometimes encoun- tered an Orange. There is some truth in these remarks, as unless ordered Boniface rarely shines in a desert which in England, is deemed by many perly ruled to be not an unimportant part of the a Surplusage whilst on the Continent, it is pro- dinner. An agreeable and pleasant article for desert, can now it seems be cheaply, and no doubt will be regularly furnished to the folks at home. Hence we hold the poverty of the people's after dinner accompaniments, is in a fair way of bemo removed, If the duty on Oranges (nearly 100 per lar, at least, amongst the juvenile portion of the cent) is also removed Peel ought to be very popu Queen's leges,

We have inserted the letter of S. H. and (with all respect to our esteemed correspo dent) we would say, however valuable may be the commercial informati mani tion unless he per

and

the same ad libit

compelled to refuse them admission inte hould be adopt a timi

are more our

we wished

under discussion Columns. The subject u being of some interest we have inserted his present communication, but we hope he will, in all future contributions, avoid a tone of animadversion which, whether justified or not, we will never consent to adopt or imitate. S. H. truly says the remarks of our ur affair Macao. contempor, or we wished he would than his, thinking sof have confined himself to a mere statement of facts and they would have been suffi- ciently interesting without spicing them by motives and indulging attributing improper in personalities as he has done. This is all very facile to the writer but is it not a gross insult to the render ? who looks for other and better fare than such garbage as Editorial squabbles-mere Eatonswill con- troversies.

3

A correspondent asks us whether Cassia, shipped from Hongkong will be admissible at the Colonial duty of Id. per Ib, instead of the Foreign rate 3d per lb? We have not yet received a copy of the Act but our impression is that to obtain admission at the lower duty it must besides being Shipped from, be also the Produce of a British possession. Cassia sent from hence would not we think by the-

obvious tenour of the Statute be admissible at 1d per lb.

We hope some of our friends will try the experiment, it can be done without risk of loss. Becanse under the old system Cassia if shipped from a Foreign Port, paid Is per lb, and if from a British Port (although not produced there) only 6d is no good reason for believing a similar absurdity will be continued, we should say on the contrary; no bad evidence of its probable abolition under the revised System.

ONE good effect of the discussions on the Tar- iff is, that it will set the National mind a-thinking, and pave the way hereafter for the consideration of the financial expediency of abolishing all indi- rect taxation. As yet the public mind is not suf ficiently well informed, to take up this most im- portant question. To many the practicability of keeping faith with the public creditor, and at the Excise duties and Assessed taxes, would appear same time abolishing all import or export Customs, absurd or utopian. Still it is not the lesst rue that this could be done. The levy of a very small annual per centage on property of all kinds would suffice to defray the national expenditure. Some statisticians

one half per cent would be adequate. If we could include the property owned by British subjects, in our Colonies and for- eign parts we believe this would be nearly suffi ccent. Assuming however, one per cent to be re- quired-how few are there who would not be large gainers by such an Assessment

We should then "eat our food, wear our clothes and enjoy our luxuries free from all cost, charge or impost beyond the market price of the commod- ities we purchase. England for necessaries and luxuries, would become the cheapest country in the World. Thousands of our countrymen who from motives of economy are now domiciled abroad would then most joyfully return to their native land. Let any of our friends who have kept house,

cles of domestic consumption, (Not forgetting at home, take a Tariff, look to the duties on the arti the profit of the retailer on the duties) he will soon see how much he would be a gainer by the pro- posed change. How much more considerably our long suffering operatives would gain, who can tell? on our beloved country (could this change he The flood tide of prosperity which would pour in effected) is quite startling to contemplate. The

ilization, who dare prognosticate /

social and moral effects thereof on modern civ

more

TURNING to China would not the adoption of this policy soon double our trade in this than a double consumption would take place. So If in England Tea was withut Duty, mu of Sugar and many other articles Philosophers have yet to learn the moral influence have yet to appreciate the political and Financiers to calculate-the a full belly,

AFERVALS AT ST.

March

tatesmen

ENA FROM CHINA.