728597-1844-20-Apr-1844 — Page 2

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NOTICE

THE FRIEND OF CHỈNĂ AND HÕNG-KONG GAZETTE.

are requested to Parties sending advertisements, write on the face of them, how often, or how long, they wish then inserted. In all instances, non-subscribers, will pay in advance. New advertisements, will be received, until 4 O'Clock, on the evenings previous to pullication, Viz Mondays and Fridays,

The Friend of China is regularly filed in London, by Mr. P. L. Simmonds, Agent for the Colonial papers, British and Foreign Newspaper and advertising agency office, 18 Cornhill (opposite the Royal Exchange), who

toill receive any communications, orders and advertise. ments.

THE FRIEND OF CHINA,

AND HONG-KONG GAZETTE. VICTORIA, SATURDAY, APRIL 20TH 1844.

By the arrival of the Young Queen, Captain Ilart, the total failure of the expedition, fitted out at this port, by the Honorable James Erskine Murray and Mr. C. W. Bowra, to open a com- mercial communication with the Island of Borneo, has been confirmed. We regret to state that the report of Mr. Murray's having been killed, in an engagement with the natives, is also too true. We have been enabled to acquire some of the parti- culars from an authentic source. **

As a matter of course, the Admiral upon this or

After their escape, the Young Queen fell in with HM. S. Samarang, Captain Sir Edward Belcher; this energetic Officer will no doubt put himself in communication with Sir William Parker, if ho bo

still on the India station, and with Sir Thomas Cochrane, who is unfortunately absent from this port. We do not suppose that Sir Edward Belcher will attempt anything with his own ves- sel, her draft of water would render the chastise- ment, which must be ample and complete, impos- sible.

The following is a list of the killed and wound- ed on board the two vessels.

Kalap.

Hon. James Beskine Murray, James Dance, Seaman, John Thomson, Boatswain

WOUNDED.

Young Queen. Annu. Anña.

views. With all its gigantic commerce, in British the East India station, will not permit this daring India, there are only five Banks, with a capital of affair to pass unpunished. There is not a sufficient two millions, and their transactions are purely local In consequence of this, the rate of interest, in the depth of water for heavy ships, to carry them to the town of Tongarron; but the small iron steam-agricultural district, is from 21 to 75 per Ct. an- ers, of which there are several in India, and one nually, and the expences of raising produce conse- here, are admirably fitted for the service.

quently much increased. Large as it now is, the commerce of this splendid Colony, is but in its in- fan with additional facilities for obtaining capital of reasonable ferns, a few years would see the £30,000,000 of Imports and Exports more than doubled. It is almost solely to the trade of the East, that England can look as an outlet for her manu factures. In Europe and America, she is met by skilful competitors, who are gradually driving her from these markets. Fortunately for the welfare of our country, as these markets close upon us, In- dia opens, doubling her consumption of the fruits of British industry every ten years. Were every port in the world closed upon us, with due encourage. ment, India could take manufactured goods to as Jarge an extent as all the present exports from Great Britain; allowing the consumption of euch inhabitant to be only one piece of calico, or two pia. ces of muslin yearly the gross amount would not be far short of £60,000,000. For this, they could pay in produce, which includes nearly all that the Mother Country requires, with the These ideas are nor

is quite attam- able.

which it can be and the great means, brought about, is numerous local banks, where the We have been favored with the prospectus of a

industrious and honest farmer, can obtain assig tance, without paying usurious interest. This is proposed chartered East India Bank," the head quarters of which is to be in London, with branches merely a matter of time sooner or later it will take at the three principal ports in India, Calcutta, Bom- place; and we are satisfied, that on the expiry of bay, and Madras. The operations of the bank are the Company's charter, a now and a brighter era at present to be confined to exchanges, which, from will dawn upon British India,

letters received from 'one of the Di- enormous, and annually increasing trade of In- By private letters, dia, are very large. The profitable employment rectors of the “ East India Bank", wo_are_inform- of capital in the Canadian, West Indian, and Aused that, it is their intention, to establish a branch tralian Banks is well known; and the advantages, which these colonies have derived, from responsible || banking institutions is incalculable. With a con- merce exceedingly limited, as compared with India, they have afforded profitable employment for many millions sterling, and their shares are always

On looking over the list of Directors, we do not orite investments

known names, of opulent and in- the Bank of Australasit, dual men, connected with the East. Mate

of £100,000 || Mr. Jarding, it is true, at one period,

the

Mr. B. C. Hart, Mr. Mc. Nyles, John Miller, fate, - William Thomson, Gunner, Constance, Boy,

F

Anna. Anna.

Young Queen. Auna. Anna.

• quixotiption of fine wool,

at Hongkong, principally to negobate Indian ex- changes. The Directors muy anticipate the op- position of the largest firms, both in India and China, to these schemes; gradually however they will be found serviceable to all parties.

After their arrival on the coast, the two vessels -the schooner Young Queen and the brig Anna, entered the river Cote, for about eighty miles, and anchored off Tongarron, During the ascent no opposition was offered; and arriving at the town named, where the Sultan resides, he express ed himself gratified by the visit, and willing to trade with the vessels.

Deceived by these friendly appearances, they were moored; but after some time had elapsed, there appeared no inten- tion on the part of the inhabitants to buy or sell. Prom the large body of armed men congregating around the Sultan's house, suspicions began to bo entertained that all was not right. These suspi- rions were soon confirmed by attempts being made to board on two several nights, which were pro-favorite vented by the vigilance of those on the watch The

cen aside of Sultan had now thrown overy appearance of friendliness, and there was no longer any doubt of his intention to destroy the vessels, if possible, Mr. Murray, deeply impressed with their danger ofis position, addressed a letter to the Captains of the Young Queen and the Anna, stating his convic-dition to which, this bank has now a reserved funded to the extent of the intended operations. This

tion that they could only escape by fighting their way through the gun-boats and floating batteries. with which they were surrounded, he also endea- voured to get hostages from the Sultan, for a safe passage down the river in this he failed.

cite as

exam the cautions capitalist, observe the ched in 1835, with a captased to Bark, his cordial support, though subsequently,

on East Indian Sugar, and the in-

Caran-

paid; the capital has been since £1,200,000, which is all profitably employed, the annual dividends being 8 pr. Ct., with a bonus of €15,000 divided among the shareholders. In ad- of accumulated profits of upwards of £100,000. This admirably conducted institution, is still in a flourishing state, although the purely colonial, that is, not chartered banks, were mostly ruined, The attack commenced upon the vessels on the New South Wales. To the West Judies the Co- during the recent derangement of monetary affairs 18th of February while they were still at anchor, lonial Bank pay's a dividend of from 5 to 8 pr. Ct., by masked batteries from the shore and gun-boats. and has been mainly instrumental, by a cheap sup- They slipped their cables and commenced their al-ply of money, to enable the planters, since a reduc- most hopeless attempt to fight their way out of the tion of the duties o river, surrounded by numerous boats which kept up creased price of labor consequent on Negro cana an incessant fire from their long brass guns. On cipation, to make his plantations profitable. In Ca- every turn of the river they found a fresh battery nada, the Bank of British North America, with a to contend with, the boats keeping up the pursuit capital of £1,000.000 pays 6 per Cent, notwithstand- out of range of the swivels, but not of the long ng £550,000 of its deposits being invested without guns, from which, in the Young Queen, there were

interest. The exchanges, turned over by this bank tired 550 shot, and a proportionate number from the Anna. At one time the dana got on in one year, were three and a third millions. We

na got on a mud

are not aware of any instance of chartered colo- bank, but her consort nobly bore up and ranged nial banks not being safe and profitable; many alongside for her protection, until she got off But for this she would inevitably have been taken. The purely unchartered banks, are ruined by local inte night being calm with a strong ebb tide, the two

rest, as recently happened in New South Wales, vessels were lashed together, and allowed to drift when the local directors, shared out the capital of with the current, determined to escape or parish in company ahead of each was a boat to pull them round when they got broadside on to current: the men in these boats state positively that they heard English voices hailing them from the shore.

30 hours of continuous fighting, they reached within a few miles of the mouth of the viver, and escape appeared certain. But they found a numerous fleet of boats ahead of them which had entered through some unknown creek. This was the last and most desperate attack, and the number of pirates killed must have been immense. With personal safety, almost (within his grasp, here poor Murray was killed. He was lighting the mid-ship guns when he was struck by a two pounder on breast; death was instantaneous,

They at longhth passed the bar and Bats at the mouth of the river, though at sunset the boals were still in chase.

During the whole affair the conduct of the Officer and men was excellent. An unflching determination was evinced to escape or die in the attempt. Mr. Murray was the moving which they were all influenced, and it is

be regretted; that he was cut

vigor of life with bin talents and over.

have dono much ta

We regret to state

on attempt at mutiny was m

Young Queen, in which one man was shot. - He still a prisoner on board,

the bank amongst themselves,

The facilities which the trade of India, amount- ing to upwards of £30,000,000, afford for exchange derived from a substantial institution of the kind, operations are immense, and the benefit to be

can only be appreciated, when we call to remem brance, that in 1831, six houses were bankrupt, whose liabilities amounted to £14,000,000. It is the belief of the most entolligent Merchants, that these failures, were mainly caused, by the attempt to blend banking with commercial affairs, which in most cases proves ruinous to the Merchant and those who deposit with him.

The annual remittanges from India to England amount to nearly five milions, yet all of this large aim is in mercantile paper, the holders of which, are, for a period of ten months, held responsible for the stability of the firm whose drafts they have purchased and in the large failures, to which we have referred, the distress entailed upon indiy whose hard ear nying of yours had beenra titte rough houses is incalculable.

of the British dominions, no bank established in London.

nd now, that the Bast India

upon vood

more

fresh business arrangements, induced him to change his views,

19

the

The capital of £250,000 appears disproportion is but for a commencement--which if success- ful, will lead to a regular increase, demands of the institution require. It is an ascer tained fact, both in banking and mercantile allairs, that the real road to success is to commence on a confidence is obtained, the business will inevitably moderato scale; when, by judicious management, increase. quently proved disastrous to new banks; and in A large unemployed capital, has fre.

the present instance, the prudence of starting with a small sum, may be a guarantee of future good management.

It has been proposed to petition His Excellency Sir Henry Pottinger, to introduce a clause in the land lenses, now preparing, to the effect, that at the expiration of seventy-five years, occupants of houses will be permitted to retain their property on fair and equitable terms. In His Excellency's letter to the land holders of the oth ultimo, mention is made of such clause; and although the paragraph referring to his instructions from Her Majesty's Government, is rather obscurely worded, we are inclined to think, that his orders were to have this to the letter itself, our fellow colonists have an clause inserted. If such is the fact, and we refer

imperishable token, of the love His Excellency bears them. Sir Henry Pottinger, in virtue of the powers he now holds, would act with perfect legality were he to deny us this privilege. We do not assert that he has, but we are morally convinied, after much deliberation that although he may exert his extraordinary commission, in a manner injurious to our welfare in pecuniary affairs, and to our per- sonal comfort in this land of pestilence, he will never use those powers for the benefit and well being of those he governs. He has unfortunately taken a one sided view of his duties as a Governor ; he will spare no personal exertions to protect the interest of the Government, but the Colonists may protect themselves We are aware, that he would mind what he considered a positive net of injustice but from the school where he was polit call cated, we are afraid, that his conceptions bat ought to exist between 'n people and their Chief Mamstrate, are, of rather an ante

hat the Thou

be permilled them and pl they petition

Joe altering the prices to pull

If they are suspici

place no faith

lency stater ja

option would ecord, sull

can blame them? Cir