854
The matter was revived periodically, and for an interesting review of the events leading up to the years immediately before the British Government decided to build its section up to Shum Chun, we have to turn to the newspaper files. The S.C.M. Post of November 25, 1903, devoted a lengthy leading article to the subject. It stated:
To understand the Kowloon-Canton railway question in all its bearings, it is necessary to consider the facts. Several years ago a concession was granted to Messrs. Matheson and Co., of London, to build a railway from Kowloon to Canton. That concession was obtained from the Chinese Government. Messrs. Matheson and Company endeavoured to float this concession upon the London market. They discovered that British Capitalists had no faith in Chinese railways: had no belief in Chinese securities; had no confidence in the power of concessionaires to obtain the necessary trade for their line, adequately to protect the line, or satisfactorily to conserve their rights under the concession. Messrs. Matheson failed to float their concession.
"Years went by. In June 1898, a convention was signed at Peking leasing to Great Britain the portion of Chinese territory, including the port of Kowloon, and land further inland, together with the waters of Mirs Bay and Deep Bay. In April 1899, the New Territory was formally occupied by Great Britain. The difference in the security guaranteeing a railway line largely through British territory, protected by British troops, from one built in Chinese territory, is self evident.
Another chapter in the history of the Canton-Kowloon railway was opened by the granting of a concession to the America-China Development Company, in 1898, to build a railway from Canton to Hankow. The Americans took that concession to New York, and experienced difficulties similar to those that beset Messrs. Matheson and Company in London. Americans had to be educated to an understanding of the commercial possibilities of China. Partly because of the greater speculative boldness of American capitalists, partly because of the advocacy of the men in charge of the flotation, money eventually was obtained and, on June 14, 1902, an edict was issued by the Chinese Government approving construction. In December 1902, work commenced; and on November 15, 1903, the first section of the railway from Canton to Fatshan was opened to public traffic. That line has been built through purely Chinese territories, through a portion less familiar with European manners and European inventions than the people inhabiting the country between Kowloon and Canton.
Still, the Kowloon-Canton concession lay, dust begrimed and inert, upon the shelves of Messrs. Matheson and Company's office in London. Then it was the Americans realised that Canton would never make a deep water terminus, and deep water was a necessity if the world's trade were to be carried inward through China on the rails of the American line.
2.
854
The matter was revived periodically, and for an interesting review of the events leading up to the years immediately before the British Government decided to build ius section up to Shum Chun, we have to turn to the newspaper files. The 3.C.M. Post of November 25, 1903, devoted a lengthy leading article to the subject. It stated:
To understand the Kowloon-Canton railway question in all its bearings, it is necessary to consider the facts. Several years ago a concession was granted to Messrs. Matheson and Co., of London, to build a railway from Kowloon to Canton. That concession was obtained from the Chinese Governiœnt. Messrs. Matheson and Company endeavoured to float this concession upon the London aurket. They discovered that British Capitalists had no faith in Chinese railways: had no belief in Chinese securities; had no confidence in the power of conces- sionuries to obtain the necessary trade for their line, adequately to protect the line, or satisfactorily to conserve their rights under the concession. Messrs. Matheson failed to float their concession.
"Years went by. In June 1898, a convention was signed at Peking leasing to Great Britain the portion of Chie se territory, including the port of Kowloon, and land further inland, together with the waters of Mirs Bay and Deep Bay. In April 1899, the New Territory was formally occupied by Great Britain. The difference in the security guaranteeing a railway line largely through British territory, protected by British troops, from one built in Chinese territory, is self evident.
Another chapter in the history of the Canton-Kowloon railway was opened by the granting of a concession to the America-China Development Company, in 1898, to build a rail way from Canton to Hankow. The Americans took that concession to New York, and experienced difficulties similar to those that beset Messrs. Matheson and Company in London. Americans had to be educated to an understanding of the commercial possibilities of China. Partly because of the greater speculative boldness of American capitalists, partly because of the advocacy of the men in charge of the flotation, money eventually was obtained and, on June 14, 1902, an edict was issued by the Chinese Government approving construction. In December 1902, work commenced; and on November 15, 1903, the first section of the railway from Canton to Fatshan was opened to public traffic. That line hus been built through purely Chinese territories, through a portion less familiar with European manners and European inventions than the people inhabiting the country between Kowloon and Canton.
#Still, the Kowloon-Canton concession lay, dust begrimed and inert, upon the shelves of Messrs. Matheson and Company's office in London. Then it was the Americans realised that Canton would never make a deep water teridimus, and deep water was a necessity if the world's trade were to be carried inward through China on the rails of the American line."
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