1894-02-17 — Page 3

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I have no reliable information as to the starter for the Foochow Cup, but the field is bound to be a small one. Should both start only Vagrant and Bovill have any chance what ever, and at present my impression is that the dun better clara pony and a better stayer `undoubtedly-dot being quite up concert pitch, will run second to the game litle winner of the past three years. Not cent for second pony in this two-miles race. Thrifty Elize belb"

THE HONGKONG TELEGRAPH, SATURDAY, FEBRUARY 17, 1894.

form over a mile and a half, I prefer not to lish her industries (provided she adheres to sliver Indulge in prediction.

monometalism) on such a firm basis that they will still be able with her cheap labour and other advantages to hold their own in the markets of Asia and America f not elsewhere. It may here be noted that Japan, although not yet a ship-building country, may in the near future become so; already she figures as a stramskip omarron no smallscale (considering how recently she has emerged from a state of semi-barbarism) and is in the field se un ocean carrier, running steamers successfully not only on her own coasts bat to ports in Siberia, Cores, China, the Philippine Islands, Sandwich Islands, Australia and India (this is due to a great extent to cheap slives), and now she is opening up banks in the ports where her trade has most developed, such as Shanghai and Hongkong, with view to finance her own trade, also an indirect result of cheap silver. The raw materials for her new and growing indeshies the is seeking for yearly in more distant lands, as to the case of her cotton planing and cotton wowing enterprises, the Faw cotton for which she already imperts from China, America, Indie, and even Egypt. The articles of a foreign type (imitations of foreign goods, perhaps at present inferior but very much market, China) Japan now manufactures fer cheaper and obtaining a ready sale in the large home consumption and export would fill a long value both as to quantity produced and variety list if ennumerated, and are dally increasing in

of goods.

If Jockeys are obtulauble there will be about a score of afasters for the Valley Stakes. The ponies that, on form, bave any prospects of success are Frohsian, Duart, Swift and Exchange. Swift is a tride alow for this distance, game little meke as he is, and Exchange, fast enough for anything, had his stupidly exaggerated pretensions properly taken down this morning by the supposed gharry-pony Elsinore, when it came to actual racing. Either Frehaian or Duart will win-presuming they don't go in the Derby, and I fancy I can safely predict on Tuesday which of this pair will get

home first.

As I am not in the confidence of Mr. John Peel, I don't know whether Tallamaa la or la not a likely starter for the Lusitano Cup. If he is sent out, bis probable opponents will be Democrat Dunoon, Primrose, and perhaps Petronel of

China, the country on which the effects of cheap silver are showing themselves in only

States, will be to put a stop within a few years at me of payment or settlement of account, to any export trade they may have with silver natural laws will then rule and control the ratio currency countries, those countsics either draw- | between the metals and no one need dread, av ing their supplies from other silver currency now, to accept payment or enter into a confriet countries (manufactured goods probably from for the receipt af payment in either metal at all, Chins-provided she gives, facilities for the future date. For instance, a loan of 100, eabhshment of manufactures by machinery gold, may be made with the stipulation that is and security for the safety of capital invested in repayment is to be in gold or its equivalent fh amo-Japan, and Hongkong) or supplying their silver at the prevailing market rate of allver at own needs. Later, they may expect to be draw-time payment falls due without fear of four, the lag supplice of manufactured goods from these harrower also fealing assured that he will not sources of cheap manufactures themselves. It by cast upon to repay a greater value that is hardly probable, however, that they will that which he has received. Some months ago remain-blind to their own interests (or that those when the question of bi-metallism was brought interested in booming gold will have things forward in the British House of Commons (in their own way tit that happens, for there reference to the then pending International are already signs of the gathering together of Convention on Bi-metalliam) Mr. Gladstone, the forces which will are many years elapse stated that Great Britain could set support effect their entire defeat) till such time, bicaetallism owing to British capitalists having that they have to turn to the East for their supply Immense sums ofther lent out or farented tp of manufactured goods, but before times have gold securities abroad and that were bi-metallium dried that far some temporary, Inca permanent, introduced they would have to accept repayment solution of the vexed currency question will have in silwer. (The above is the substance of his been arrived at; ifnet, the East is again destined expressed views, the exact statement can be to prevail over the West, not as formerly, how found in the papers published at time.) This is ever, by a resistless flaw of armed men, but by the reason of the strong opposition shown by the more friesistible power of commerce and British financiers to the lotroduction of of packed communities which have the means of Well! at first sight their reasoning seems sound civilization, for anarchy must be the lot at densely metsillam, and they are its chief opponents. earning their bread taken from them.

from a self interested point of view. How is it, that is required, viz, Sufficient currency for trade they are thus grasping after can only be hid Gold gives stability to currency, but more than however, that they fail to see that the gold that wants, and a more even ratio between gold and at the cost of letting out the llie's bipod of the silver (the metal still forming the standard of oiloat hy the rein of her manufacturing in more than half the world), bringing the cost of dustries Are they for a temporary galo, pre-

華

to-day's Advertisements.

LODGI

"ነ

HONGKONG, No. 1026.

expect if they went on to meet the disappointed Sulu Sultan, while they had just been fighing the feet of the Saltan of Brunel, whose coast INGY tésúlts (and always supposing that this series of were then off, so it would seem judging from the talem is trae), that they made over towards Celeber. But meeting strong winds they did VICTORIA not make much way; and, their stores exhausted, they had to take by force or otherwise pick up, were able; and foally became ocicats, or a Spreies of Flying Dutchmen as it were, living by A LODGE will be held in FREEMASONS as well as they could, such provlaloon an they

N EMERGENCY MEETING of the above stealth, and in ilme carrying off young women for wives whenever they could catch them, every

HALL, Zetland Street, THIS EVENING, the 17th man's hand being against them. The weather Brethren are cordially invited.

instant, at 8.30 for 9 p.m. precisely. Visiting besten bosts were replaced by smaller new ones, built by themselves in a frequented places,

Hongkang, 17th February, 1894. generated into the Ses Gypsies they now are. VICTORIA meatly sandy telande, and' gradually they de De few sandy undesirable lelands they have etilaments, but as a rule they prefer living on the water, each family in a bout to itself."

UPPER-RIVER NAVIGATION.

[336

LODGI

OF HONGKONG, No. 105.

REGULAR MEETING of the abors LODGE will be held in the FREEMASONS? HALL, Zetland Street, on WEDNESDAY, the Brethren are cordially farited. arst inst., at 8.30 for g p.m. precisely. Visiting

Hongkong, 17th February, 1894- HONGKONG AND SHANGHAI BANKING fazi

CORPORATION.

31

THE DIVIDEND DECLARED. I the the rate of Que Pom STERLING (Ct) per Tabycas unding 31st December last, at

Volts, and The Don, but they might just as wall alightly less degres than in the case of India and production in different parts equally suited for wired ran the Bend Anarchy-ahjuty thatti is the recent arounding of the FHaig, whose cap Share of $125, is PAYABLE on and after be kept at home, as they are not in the same Japan, may be next considered as to results production of same commodities nearer the same | graspiógenlicy wil ere jang, fi not abated; bouw tuin may fairly be called the dayes of upper: | MONDAY, the roth Instant, at the Offices of

be kept the thelens three-cornered one that ran the gallant Royalty to a head for the Shang bai St. Leger, and who is just now in his very best form.

瘿

The Canton Cap is a race that greatly depends on the result of the Derby. Dare Devil and Beanfort are the fastest milers in the entry, but as both these ponies will run in the big event earlier in the day, they may be absenteees for this race. Laverock and Elsinore appear the most reliable of the remainder, as Opal, If he gets beaten In the Derhy, will be carefully preserved for the Tai Yesk Foug Cup which valuable trophy he has little, if any chance of winning,

.

The Hongkong Clan Cap (a mile-and-a-half resta with Rovril and Vagrant, and as there are no penalties both of these 'cracks are almost car tain to compete, Bovril will win notwithstanding Vagrant's sensational and somewhat flaky victory in the Shanghai Stakes over this distance at the late Shanghai Winter Meeting.

The Compradors' Cup and the Encourage. ment Stakes are puzzles too difficult to be dealt with just now. Luginsland, Catterthan, Exile, Haughty, Silding Scale and Harmony are ponies that might be kept in mind for this event, bat until after the Valley Stakes its mere guess work. Most of the "subs will face the music in the Valley and the result of that race will guide their future programme. I may attempt to forecast the results of the second day's racing. on Tuesday or Wednesday next, but not now. Any opinions or vaticinations would only mis

AN OLD SPORTSMAN. Hongkong, 17th February, 1894.

lead,

CARBINE COMPETITION.

A match between the Field Battery of the Hongkong Volunteers and the Royal Antlery Sergeante Mess was brought off at Kowloon to-day. The teams were ten a-side, only the eight highest being gunle, seven shots at each eight highest being counted; Martini carbines, at

range. The scores werd

VOLUNTEERS.

Corp. R. F. Lammert ...........

Sgt. Hayward

Lt. Chapman...

G1. Hancock..

Set Brown exasperariveas

Gr. Bamity

m

B. S. M. Duncan ..........................................

Sgt. Wyllt......

δε

Total...$20 Average.....66,13

ROYAL ARTILLERY.

Sgt. Kercher...ien 5 tarkusbrand Set, dmunds.................. D.S.M. Weite ........................

M. G.,Dugganuma

C. S. M. Lewi¶ ................................................

Sgt. Richardson

Sgt. Paison244902

Sgt. Young................................. 10

Totál

438

Average........ 5475

already brought about and those which may be expected. As to those already evident it may be said that If her trade in cotton yarn and piece goods with Europe and India has not already all but entirely ceased it la on a fale way to do so and will cease so soon as Jpan can produce afficient to supply the market. As previously mentioned in considering India, that country was fast monopolising the cotron yarn trade fo the East, whilst she was favoured by cheap silver, and Dusting English yarn from the markets, mainly owing to the difference in cost of production (due to gold monometallism). In plece goods she would doubtless have done likewise were it not that Japan was already in the field. Other industries were likely to follow, though Japan already showed signs of taking to herself the monopoly of sundry manufactures requl ing more enterprise, fogenuity, and skill in the labourer than is the case with spinning and weaving. Japan has besides the advantage of plentiful supplies of her own cheap coal, an important factor in all manufacturing enterprises. Since the gold standard has been introduced in India Jagan has the Beld practically to herself (for Coins is not yet In it, because the few mills in Shanghai and Hankow, unless extended, 21 doubtless they now will be, are trifling com petitors) and the advances made by Japan in the past quarter of a century, wonderful as they have been, are destined (should the present Ansocial policies regarding the currency question remain unchanged in Europe, America, and Asis) to be eclipsed by the industrial progress of the next few years with its civilising and elevat. ing effects on the people, raising them and their country to a place of importance in the countries of the world such a Great Britian has gained and still holds, mainly through the wealth and strength gained by the industry of her people and with the continuance of which now endangered by gold monometalism-alone

level, otherwise the country with cost of produc- tion much in her favour must have the monopoly of supplying the world's wants, which previously shown, Japan will have, at present, for manufactured goods.

A. W. Exit,

" A DECADE IN BORNKO?! N

steamers trading on the Upper Yangtae, 14, From time to time attention bas been called in these columas to the dangers that beset the between Hankow and Ichang, and the decesalty anal methods. Tals necessity becomes more far, in some way, marking their position by the hdmore urgent as the traffic Increases, com [petition becomes more ksen, and accidents more frequent." The latest example of its urgent need

river navigators, in close proximity to the rocks great danger that her experienced captain Tan at Ita. Indeed, it was no doubt in avoiding this bis steamer badly on the sand a little above it,

turned out her assistance was not required, and which necessitated the Shart being sent: down from Ichang to tow her off. As it

free before the larger boat arrived, as fortunately the Yiing had wriggled herself it is little short of scandalous that a company which has so largely helped to develop the Yet

trade of the upper provinces should be called upon time after time to expend sa much money or wasta so much of the time of their vesels fu Injuries and delays that might be avoided did the authorities bat do their pisin duty in having all the most prominent dangers and obstacles marked in such a way that masters could mavigate their vessels with confidence and cer- fainty

requested to apply for Warrants. the CORPORATION, where Shareholders are

By Order of the Court of Directora -

IN

T. JACKSON,

Chief Manager. Hongkong, 17th February, 1894. fasa

IN THE SUPREME COURT OF HONGKONG.

IN BANKRUPTCY.

No. 6 or 1893.

THE MATTER OF ROBERT LANG, of No. 26.- QUEEN'S ROAD CENTRAL, TAILOR AND OUTFITTER.

EX-PARTI-THE DEBTOR.

THE Cousy of March; 1894. # 12 m'clocke Noost, for hearing the application for discharge has appointed THURSDAY, the

Dated this zith day of February, 1894. of the above-named Debtor,

BRUCE SHEPHERD,

Trastes.

Jure and which when once thoroughly arouleater on desperate men (who might have bread on themselves, ihele wives and their little onta) te seize the gold of the capitalists for their

sanctioned by law, but not at a fixed ratio (the ing in the balance with the Bi-metalliam question, own needs? The British Empire, the grandest The free coinage of silver should also be and the poblest the world has yet seen, is hangs reasons for which I will give later on), the Govern ment simply attesting by their stamp (all aliver the 'faicis or theories stated are sound they may The above ideas are giren in the hape that if to be minted at Government mint) that the coins have a Infloence, however slight, in arousing contain silver of a certain fired weight and those who have power or influence to throw all fineness, in order that people making use of of it fold the settlement of the currency question silver in their transactions can accept them as soon as possible. The whole world is such without having to weigh and test for them-terested in it, especially Europe and America, selves,

but hoge more than Great Britain. The ratio in value between two commodities cannot be fixed, but is subject to the natural law- of supply and demand (gold and silver sot excepted) as has been proved time and again by eminent political economists, and yet the financiers of the present day, with these proofs before them and taught amongst Western civilisation was first introduced is one Chungking to Peking since the opening of the

The history of Borneo from the time when

The revenues remitted from Hankow and the first rudiments of the important science of the most interesting rages in the whole history port in 1878 have increased esarsuely, the of political economy, will persist in ignoring of the world; and the skilled hand of Mrs. W. B. the fact, trying to effect the impossible. No Payer her produced from it a book which recalls, from a single small craft to a fleet of five, mest steamers engaged in the trade have multiplied government has the right to refuse to give though in's more serious forms, the pleasure with of which are vessels of considerable size and carrying on of exchange transactions (trade) and similar paries of pioneering in the tropics. Mr. marked by a single bamboo by the authorities wha to its people a free and ample coinage for the which used to read "Robleson Cruso" saine yet the dangers on the river are not asal if even lead and iron colos were likely to be Pryer headed the original expedition of settlers in reap the rich harvest which the united companies utilized as medlems of exchange it would be their Sandakan, fa 1878, and the first official proclama- have brought them, and the hidden dangers to daty to provide facilities for having the colostles ever published there bears his signature as this fleet remain as unranked to-day as they did stamped with the Government impression as a Resident. Since that date he has been ever to the pioneer steamer that opened the trafic guarantee of their pareness and weight, charging most prominent in the difficult and thankless nearly eighteen years ago, and took a week to whatever was necessary for working expenses task of creating order out of chaos, building make the upward voyage, to those bringing to the metal for coinage, the city in the wilderness, and establishing civilised Government having nothing to do with assuring government in one of the widest and remotest their valse in relation to other commodities serious of had ante from that day to (metals included) or to one another (which as a this be has the constant and valuable matter of fact they cannot do the natural law of assistance and encouragement of the gifted supply and demand artiling that in spite of all writer whose book is now before us that human efforts to oppens its workings). The there could hardly be any better qualification for attempts to fix the value ratio between the noble writing the modern history of Bernes than Mrs. metals, gold and silver, ls ous of the great Pryer possesses. There are in the little volume The Foreign trade of China in cotton yarn and impediments to the Introduction of bi-metallism. occasional flashes of pardonable enthusiasm, as plece goods, which may be considered as the There is no reason why there should not be for lustaces a remark that "Great Britain had most important of her imports, now destined to multi-metalliam I likely to be utilized in hitfeste nat pocaatsed any tropical calony baring fall entirely tulo the hands of Japanese mang-exchange transactions by the people (bat in much famidget which is deads libel facturers and merchants, can be taken as an practice, natural law being allowed free play, on Cericanbontheonly in the qual polical other imports, though in the case of some of would doubtless prevail and therefore freedom crestent with the ctares of los atat example of what may be expected regarding her bi-metallizm, gold and silver belag the metals, digressions. The book is almost entirely des- them exceptional circumstances will prevent

in the epilonal use of either of these metals eye-witness of a tras artlats Japan from monopolizing them also, although should be facilitated and allowed by the free touch. We would like to quote a few bright she, with the present currency system, possesses cofaage of them by government),

passages, but it would be hard to stop short of reproducing the whole book. However, here i so many advantages over Europe and America. The fature effects of cheap allver on China

one extract, which will serve to show the read depend greatly on the line of policy taken up by

ing public how well the work is worth their atten the officials in regard to the introduction of

tion:- machinery for the manufacture in the first place of cotton yarn and texile fabrics; secondly on the encouragement or otherwise of mining, especially for coal and front thirdly the developement of railways; and fourthly, on the establishment of manufactures other than cotton fabrics, If this is conducted, as at present, entirely under official control some progress may be made, but for small and slow in developement. If, as can hardly be expected, freedom is givan to all to enter on the manufacture of goods by machinery and as difficulties are placed to the way of import ing and establishing this machinery, in factoiles of conducting the business and disposing of the products of came, great progress may be looked for and China will in a large measure supply the wants of her people in this line with her own productions in the course of a few years, and later,

'It can be maintained.

The difficulties is the way of the introduction of bi-metalllem might easily be surmounted if people would have the common-sense to leave the fixing of the ratio to natural laws instead of trying to become Almighty and fix it for them. selves. All that is required is to stamp the colos and natural laws will settle the rest if allowed free play, the expense of stamping the coins falling of course, in the first place, on these taking the metal to the mint; if the tokens were not in demand, the loss would fall on them also and no more of that metal would be brought damard.

borde along by bright part-coloured sails are "About the shores of these seas, small hosts frequently to be seen. Sometimes these sil are made, of alternate blue and white stripes, sometimes red predominates, while occasionally they are combination of red, white and blue. As a rule these are Bajow boats.

The Batons Of BER

GOVERNMENT NOTIFICATION.

the Sea front at Causeway Bay

By Command,

G. T. M. O'BRIEN, Colonial Secretary's Office,

Colonial Secretary.

Hongkong, 17th February, 1894. [213

HONGKONG, VOLUNTEER CORPS. ORPS ORDERS FOR WEIK ENDING 24TH

FEBRUARY.

Corps Quarterssarter in addition to his Battery datles.

No. 57-Lieut. H. E. DENSOM will act sa

MCCALLUM having returned from leave of No. 58-FIELD BATTERY-Captais J. once on the rith instant, resumes Command of the Battery accordingly,

No. 50-For daty, Lieut. MACHELL and Sergeant HAYWARD

DAY at 9 P-Squad and Carbine, WED. No. 60-DRILL TUESDAY and THURS

Company and Carbine. No Uniform. NESDAY, 5.30 P.M., and FRIDAY, at 9 P.M.-—-—-

in by each member is posted at Headquarters NOTICE-A lat shewing the drills to be put for information. Members entitled to LONG table in the Armoury.

rassons which I cannot enter upon, it will be very for coluage till such time an it was ugain in 1 mascolar, dark race, the 2 psies are a strong, to the albers, then it could be understood why SERVICE STARS should fill in the form on the

T249

F. JERRARD, Acting Commandant; H.K. V. Corps. Hongkong, 17th February, 1894.

HONGKONG RIFLE ASSOCIATION, ON SATURDAY, FEBRUARY 24TH, 18940

"ING to the RACES there will be NO

COMPETITION. Members are re

This is pretty good proof of the truth of what become an exporter of manufactured goods to be a fallure, the only true-test-ofʼrelativa value Uring fin hand to mouth; they never think of of the risk of life that has been produced by guested to send their ANNUAL SUBSCRIP.

Governor Rabirson said at the Volunteer priso distribution that they do a good de l te make up in efficiency for what they lack in numbers.

CHEAP SILVER, OR THE GOLD MONOPOLY.

other countries.

bé done.

ARTHUR CHAPMAN, Honorary Secretary, Hongkong, 17th February, 1894-

DOUGLAS STEAMSHIP COMPANY, LIMITED.

145

doubt largely to blame, for it plainly seats with will be CLOSED during the RENEWAL of the For this the captains are and have been so NOTICE is hereby given that the Road them to take the initiative and insist, through Bridge. their agents, that something should be done to relieve them from removable anxieties and protect their companies' property from hidden dangers, such as is done on the lower part of the river and on the China coast. This has become of Infinitely more consequence since running at night is rather the rule than the exception. The increasing volume of the trade, year by year, has now reached a point which makes night. running both desirable and necesty, and if properly pashed home, such dangerá as the Mopaushik rocks, can no longer be delayed: marking of the Itu, Takkechow, Klangkang and and it is for them to see that the work is done. Todividually they all admit its urgent necessity, but for some Inexplicable reason they do not make a collective representation. It is true there are other persons equally concerned now that war ships pass up and down from

Merchant Service captains and will render all the Hankaw, but we are assured that the captains of these ships are in fell sympathy with the

it must rest with the latter to bring the matter Assistance in their power; but it is obvious that before the, responsible oficials in the ant Instance. If any one captain or company were to gain an advantage that would not accrue darkest of all the Malay there should be certain dificulties and want of tribes. They have the appearance of having unity in dealing with the matter. But where all The gold monometallists may well (and with been pickled and preserved by the salt so would sasp equal advantages in the saving of isalice) say in opposition to the introduction of breas which they love so well, and by the bed me and the security of their ships it seems bad bl-metallism at a fixed ratio that it would be direct rays of the brilliant tropical, sen. The business, at least, to drift along as at present, unjust to make a man receive in return for a children of this tribes about absolutely there would be less to be said had not serious gold loan or debt, repayment in sliver at a fixed unclothed naill an advanced age. Tasy lead fatlo, that satis not representing the equivalent fret roving is in boats, herd to-day gone tows have alluded to, thus proving that the most #ccidents already occurred at some of the obstacles in valus (as it could not, unless the then prevall. morrow very rarely settle on the land, and when careful captaics cannot avoid them, but no less ing market rate of silver corresponded with that they do always select lonely spots along the than five steamers have struck and received alle) of the gold lent. Any arbitrary ratio must sea-shope they are reckless, feckless face, serious damage to hall and cargo, to say nothing being the prevalling market rate of the metals plasting anyiking, and take fight like a flock of there accidents. Some day there will beTIONS to the Hon. Treas. Captain PALMER, We may now consider the effects of cheap settled by supply and demand. Bimetalfists scared ana-birds on the slightest provocation, adver on the small but important colony of mast recognize this, and give up all iden of fix. The ancestry of the Bajowsis somewhat doubt. startling fatality; then, perhaps, something will OrdaLace Office. Hongkong at present labouring under its filing the ratio, or else give up agitating for fal. Once upon a time, so the story goes, & certain affects. The trade of Hongkong being mainly bi-metallism, for under such condition it would Sulian Johore was the father of a beauteous improvements we have suggested-and the Not only would the steamers gain by the that of the import from Europe and elsewhere be unjust to holders of gold and would result daughter, bearing the style and name of Dayuly want of which are disgrace to the Chiness manufactured goods destined for the Chinese in the withdrawal of gold from circulation. Ayesha Glowing accounts of her charm of face government, which annually pockets the revenus market and the export of China's raw products The Gresham law (admitted to be sound by all and fastre travelled to the distant courts of the derived from the increasing upper-river traffic- One of the principal eventual results of the to Europe, America, etc., necessitating the Enan-eminent authorities on political economy) would at Sultan of Brunel and Salu, so that the Saltans but the native junk owners and enchants would fall fathe value of silver in its relation to gold will sing of it belag subject to the uncertainty in ance come into operaion were bi-metallism at a of Landlordonis beyond the sans desired much likewise be large gainers, for at present special probably be the movement of the manufacturing value of liver in relation to gold, the markets fixed ratio inaugurated and the metal whose to obtain her for a bilde. Her father naturally pilots have to be engaged to take the large centres from Europe and America to silver receiving China's raw products and supplying market value was higher than that fixed by law, in favoured the wall of the Sultan of Sulu (Sala Inanks past these dangers) and it is no secon monometallle countries, such as Japan and in return manufactured goods being gold mono- relation to the other, would be withdrawn from these days being the most important state of the mon thing to see fanks and rafts plied upo Chios, which formerly bad the advantage of metallic countries, it is likely to suffer, as the circulation and the other alone be in size for thren, which account tailles very well with what them, the former frequently becoming total cheaper labour-now renderes more so by the fall treds of the whole world bas suffered, from the currency, so that if the ratle were against gold two glean from entier chroniclers who sain to wrecks, owing to their captains trusting to the to allvers (lar wages in silver remain the same in present uncertainty as to the relative value of as would probably be the case, gold coins would the duke archipelago the seemingly idered his own knowledge of the position of the rocks, these countries, as does also the purchasing the two metals, but this it might hope to recover disappear.

2007 population of 200,000 persona). Daygur Ayesha power of that metal as regards native produce from "when" some defialte policy has been Bl-metallats, again, can with equal fustion hectly anime som to have com a few hundred cash, that the troubinarines which Isla with these pilots, amally, who thus para and manufactures, which can supply all the arrived at as to whether bimetallison or declaim against gold receiving an artificial value ebays hate contact with and lost her heart to prevents the captains of the steamers themselves necessliles of the people, India, sp a silver monometalllem Is to prevall in Europe, by having the monopoly of employment as the Salts of Brunel, whe, we are told, succeeded placing any sort of permanent marks of their own modumetallic country, with cheap labour and free India and America. Unfortunately it fa corrency, the supply of geld belog deficient for a surrepilifously visiting the Astada (páláce) at dom for all industries which could take root, grow, pretty evident that some years must clapse the demands of trade and there being other Johore. A day however amived, when; all prepara for any certain indication of the channels by way at the dangerous points, or even jointly arranging and tourish, was developing her trade anormously before the question is definitely settled, as metals, notably sliver, capable of supplying the dots belog completed, the abduzats father, turn of sampins bearing flags; for in one instance THE with the fall in silver giving her greater advan bimetalliam, the eventual solution of the present deficiency. Even gold monometallists cannet lag still a deaf car to the prayers of his warping they removed the marks, and in the other fell tage eser gold monometallic countries, like Great troubles, is still the losing side, although gala- do without the use of oliver for small change, but daughter compelled the lovely Ayesha te font of and drove off the boats that pointed out Britain. This was most noticeable in the growth ing adherents daily (especially amongst distos they seek to limit its use to that fanction only embark in a specially constructed boat and start-115 sats road to junks and steamers alike. of her trade in cotton yarn with China and Japan terested students of the question) from the ranks (though it is well adapted for larger transactions) for Bals, attended by a fleet as convoy, and under and her exports of tax and wheat to Europe, but of the menemetalitats, many of them men of and in doing so they have again to fall back on the charge of many fighting men, to whose cite by the Chinese authorities, and It rests with These difficulties can only be grappled with other industrica were likely to take root slso, and mark in the financial world, But though the a fixed ratio.

abo was particularly committed, to become the the lane to overcome all obstacles, ence the Asurish for the same reason that the cotton yare trade of Hangkang must contiace to suffer from The fact is, the folly of adopting a Sxed ralio beide of the Sultan of Sulu. Soft and favouring adultles and dangers are pointed out by the trade and wheat trade thrived so well, cheap the fluctuations of silver there is a prospect of is one of the great evils of the present currency winds Alled the parti-coloured salls, and masters of the vessels trading up and down the Captain G. A. Tayfer, will be despatched for the fabour and a large market at herdoors (heather great prosperity for the colony if capital (and system. You may perhaps to-day succeed in gently rippling waves here the charming river. That this should be done at once the above Port on TUESDAY, the 20th instant, at densely populated countries of Asia for manu there should be lots of that forthcoming, British Exing a ratio which is pretty fair thing, which but still weeping princess safely across the archants, insurance companies, and travelling factured goods, and Europe for wheat). But and Chinese) In only brought to the colony would work well enough were the supply of the intervening India's promising, prosperity has been suddenly and invested to converting it into a vast metals to remain relatively about the same, but the Hotila neared the shores of Borneo. No jointly concerned in the accidents and delays Passengers and is fitted with the Electris

ses without incident, unill peblic Fave a right to expect, for they, too, sre

This Steamer has Superior Accommodation cut down by the introduction of gold monome Industrial hive, festly in sharing with Japan with the great scientific discoveries of present thought of surprise entered into the minds of the that are of most daily occurrence on a part of talliom, the results of which will not be long in the supplying of the Chiness market with times (and who can say what the possibilities of fighting men, wir protectors, who lay lailly on the river that is now being used more and more

Light showing themselves. One of these will be the cotton yarn and place-goods, then starting the future are?) it is impossible to say how long it the decks of the praans, basking in the brillant each year, and whose present sbmarked dangers

For Freight or Passage, apply to. falling off of her exports of opiam to China and match facturies and other industries (the first would remain so. One of the principal factors rushing, chewing sinih or meditatively rolling my a standing menace to safe navigation" and a

SHEWAN & Co., the still more extended growth of the poppy In in the field for the fortunes to be reaped in settling the value of a metal is the cost cigarettes. But suddenly, when of these constant suplety Bilke to master and merchants.

General Managers, China to supply the demands of her own popala, thus in Hongkong are likely to contiene to take of its production (witness the great fall and undir cover of the falling night a tarpeeks. The sooner this disgracefal state of affairs is'

Hongkong, 17th February, 1894. [354 axchequer, as also to the Peking Government. a cheap dollar is in as good a position as China of atominium, a metal destined to oust from from

onslaught was made by the Sultan

TO LET. japan (which above all is advancing with rapid and Japan to supply the Eastern markets with many of its present stes) and any day in der Ware the fight car as he Rercent, the Bali Dolls New bounds in every branch of manufacture) may be manufactured goods, there being a limitless covery may be made which would reduce the hiptail, in s specialy prepared and fast práce, taken as the riext country on which cheap silver supply of cheap labour at hand, and industilas cost of extraction of gold or silver from eams alostios Dayung Ayesha's, bent. She will have most important effects, as industries started in Hongkong would enjoy all the freedom their ores to half (or even quarter) the Jumped on board, and leaving the two stregeling there receive fair treatment, sie fast taking root for their development which is to be found all present expense and render it possible to work dents to fight it out, the laying couple, rapidly and doorishing. She has already, like India, the world over under the Beliak flag Hongkong with profit very low grade ores at present pasted clasppeared into the night,patazkaip sent F benefited by the fall in allwers dalies India, Isaiso well slated for drawing the needfalsupply ever as worthless. Where would then be the Next morning found the Jobare Best fa a very however, her growing industries have not been of coal, at a minimum cost, from various sources fixed ratio ? It would, I presume, have to be pleasant predicament.: Bereft of their poncial blighted by the gold menopoly, but she la bene Macao, notwithstanding the misfortune of the fixed over again, besides again upsetting trade, chap to wats to Jokery would be rimpli, Iding by its ill effects on other Industrial pogn, }' sitting up of her barbour, might also' with a'creating uncertainty similar to that now existing, || omiting death at the hands of the cornpop tire stomach, and wild,parer, talk to give 30cp Tom" ("ross) capacity, also to be let under... trics, and, even when they are, by the Injuries liberal and wise policy take a share in thle pro- The true solution of the vexed camascy goes father. Very litle better treatme inflicted upon them by list continuance brought spent of supplying manufactured goods to Chins, tion seems to be the introduction of bi-metalliam

flon ; this wil of course cause loss to the Indian † the lion's share of the trade) for Hongkong with in late years in the cost of the productW4 22AEA A feet to tha attack, and a Baby-zéland gauws and realised at Feklog the better,N, C

to reason and adopt, as they must eventually do, The bath?

· Mosėtallisos, Japan will havÉ BIEN ADM SO Hotale in Pantage of them preżent low valge of niiver, } (and if necessary multi-metalliam) making either; we be adj |

Of Karope and the United i metal legal tender at the prevailing market zaton

FOR SWATOW, AMOY AND TAMṢUI,

THE Company's Steamship

Captain Davis, will be despatched for the above "FOKIEN,"

Põrts on TUESDAY, the 20th instant, at Day.

ght.

For Freight or Passage, apply to

DOUGLAS LAPRAIK & Co.,

General Managers,

CHINA AND MANILA STEAMSHIP Hongkong. 17th February, 1894- (248

COMPANY, LIMITED. *FOR MANILA (DIRECT). THE Company's Steamably

"ESMERALDA,"

NOFFICES Victoria Bulldings

TOS.:1, § & 7, SEYMOUR TERRACE Ir the sufferers from Consumption, Scrofula and Gentral Debilty will by Scott Emision of now in course of erection at the comer of Ice The GROUND FLOOR, of the Promises Pure Cod Liest Oil with Hypophosphlies, they for Offices for The Moor De

House Street and Cohen's R

» Road Central, multabla. bepeat. The Medical Profession in the various divided into separate sites of Offices if nieces- Will And Immediata Felled and, a permanent countries of the world universally declare it a LARGE and DRY GODOWN 'sultable for remedy of the greatest value and set is very the Storage of Opiqus, Cottos, Code, of about

sary, to suit intending Tenants. 250 it can be readily taken by the most

felt and creatort to the sutarenko Any Chemist the abova Premalnos, pi

Gad Supply 12-A. §. Waton & Co. (Limited), ASAL DAVID SASSOON, SONS & cď. Agents in Hongkong and Chini,

Honghong, 17th February, 1894.