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bas also been forwarded by the Governorsigned not only by Europeans and those in receipt of salaries whose homes are in countries with gold standards such as India and Ceylon, but also by a number of wealthy and influential Chinese, the revenue farmers, shipmasters, bankers, merchants and landowners. The petitioners, without expressing any views as to the sterling value to be given to the dollar, express the opinion that it is extremely desirable that the legal currency of the Co. my and of the Federated Malay States should have a, fixed relative value to the British sterling sovereign. The petition represents that violent fluctuations in exchange are very detrimental to the general interests of the Colony, that even if the conten. tion that a dar of low value stimulates a portion of the trade of the Colony be granted, it must without doubt be admitte that there are numerous interests which have been pre. judicially affected by the severe fall in silver which has recently taken place, and that it is the opinion of those of the petitioners, who desire a dollar of low value, that there must be some point at which the advantages derived from low exchange become distinct disadvan tages, and that this point has been passed.

37. The Singapore and Penang Chambers Commerce and the Municipality of Singapore favour

gold standard: In regard to the Federated Malay States opinion seems more divided. It is stated in the Go ernor's telegram of the 25th of December that the planters favour a gold standard and the Perak miners also. Other miners in the Fed- erated Malay States prefer the existing silver standard of value. A petition, very numerous "ly signed by all the principal Penang Asiatic traders, asks for a gold standard. A numer uusly signed petition in favour of a silver standard has been received by the Governor from Singapore, the signatures being almost exclusively Chinese.

of

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38. It is a matter of course that the immense majority of the people concerned in this in- quiry are unable to support any opinion on the

• complicated question of the best standard of value by reasons which would stand examin. ation. The fact remains that the majority of those able to form an opinion appear to be in

THE HONGKONG TELEGRAPH, FRIDAY, MAY 15, 1903.

may be indefinitely increased in number Under these conditions it appears to us to be an indispensable part of any scheme for the extablishment of a' guld standard that there should be substituted for the Mexican and British dollars now in use a currency special to the Straits Settlements and under the contro of its Government, unless it should be decided to make use of the Indian rupee in somewhat the same manner as is followed in Ceylon and Mauritius.

have now no debis, and the Federated Malay Sintes have no external debt. We understand, however, that the Straits Government are con- templating the raising of loans for important. public works. This capital cannot be found locally except at high rates of interest, and if a gold loan be raised in London, a fall in exchan ge may impose an additional burden on the Straits Government, both as regards, payment of interest and repayment of capital. The same difficulty will be found by the Municipality of Singapore who are about to raise a loan of 52. The extension of the currency of India some 2500co. With rapidly developing coun to the Straits Settlements was advocated by tries such as the Straits and the Malay States, five of the members of the Committee appoint it is highly desirable to encourage the invested in the Colony in 1893, and it has been ad- ment of European capital, and the absence of vocated by others. Supposing that the Gov- fixity of exchange with Western countries un- ernment of India would consent to such an doubtedly discourages such investment, and extension of its currency-and we assume that may also tend to exclude British and other in this matter the Government of India would European traders.

be consulted--we should still consider that the balance of advantage is against the proposal. It could scarcely be expected that the Indian Government would, except possibly for the initial supply, issue rupees to the Straits on more favourable terms than to others, ie, at the rate of 15 rupees to the pound sterling. If therefore the Government of India did not make spécial arrangements the cost to the community would be just the same as if 15 rupees were actually worth a sovereign. In any

44. The gold obligations of the Government are heavy in connection with the pay of their staff. hey have now placed all the higher officials on sterling salaries. The pensions of retired officers involve a further gold obligation. 45. The recent fall in the gold value of silver, not only aggravates the previously exist ing difficulties but may give rise to further difficulties of the same class both in the case of the Straits Government and of private persons, As to the future goldcase the Indian Government should, we think, value of silver we are unwilling to express any enjoy the profit on future issues of rupees and opinion.. The evidence given before us by Mr. in return they would of course be respousible Pixley is interesting and shows that there are for maintaining the gold value of the rupees no reasons to anticipate a further immediate supplied, as at present. fall of any magnitude. Other witnesses have expressed the same opinion and, as it appears to us, on good grounds. But a very similar state of matters in the past has, not un. frequently, been followed by further and un- expected falls in gold value, and the future must be admitted to be quite uncertain.

obtain a considerḥla, supply of - the dollars, and as soon as this is received, the new dollars should be made fuil legal ten- der concurrently with the Mexican and British | dollars, and steps should be taken to put them into circulation. The first supply of new dollars might be obtained (with the consent of the Indian Government) by remitting to one of the Indian Minte a portion of the coin reserve of the Currency Commissioners to be melted down and converted into the new Straits dollars, and this process night bo continued until practically the whole A. E. COLLINS, Secretary. dollars. If it was found that this was a slower of the coin reserve is converted into new

17th March, 1903.

process than was desirable the Government could consider the expediency of purchasing silver for coining purposes.

new return would be checked. Under the most unfavourable circumstances the difficulty could be met by the Straits Government withdrawing a portion of the subsidiary coins

65. Before closing this Report, we desire to express our high appreciation of the able and willing assistance which the Secretary, Mr. A. E. Collins, has rendered throughout the inquiry.

58. Simultaneously with the arrival of the first supply of the new dollars, and with the making of them legal tender, the import of Mexican and British dollars should be tem porarily prohibited and export of the dollars should also be prohibited. As there is ordi- narily a large import of Mexican and British dollars into the Straits, and subsequent expon

of them, we think it likely that when their im- port is prohibited there would be a tendency towards a considerable drain of these coins from the Straits Settlements, and if the new dollars are freely supplied, the change of cur. rency might be completed without any great delay.

59. When the currency is so largely com. posed of the new dollars as to justify the mea- sure, the Mexican and British dollars should be finally demonetized and the Straits Settle ments would then be in the position in which India was when the change of standard was undertaken in that country, with, however, the very important advantage that there would not bean enormous proportion of the new coinseither hoarded or circulating in foreign countries, which might, by being thrown into circulation, indefinitely delay the establishment of the gold standard.

1. BARBOUR, WM, ADAMSON. GEORGE W. JOHNSON,

HONGKONG CHAMBER OF

COMMERCE.

ANNUAL REPORT.

the Hongkong General Chamber of Commerce, The report of the General Commilies of

for the year ending 31st December last, for presentation to the members at the annual meeting fixed for Tuesday next is as follows

the attention of your Commuce during the A great variety of subjects have engaged

past year with satisfactory results in most

cases.

PROPOSAL TO AMEND THE LAW RELATING TO EM-LOVERS AND SERVANTS,

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attempting to make use of the British flag for the same purpose, and that it was a scandal that foreign merchants enjoying the hospitality of the Colony should'so abuse it as to use their Rag as a means whereby to secure an unlawful advantage over their competitors in business. The Government agreed with the opinion expressed by the Committee, and there is reason to believe that means have been adopted to discourage the practice complained of - INCREASE OF TAXATION ON OPIUM AT CANTON.

A very serious attempt on the part of the Chinese authorities at Canton and Swatow was made to put a further heavy tax on opium in addition to those already provided for by the Chefoo Convention.. An office for the collection of the new lax of Tis, 115.290 per chest was opened in Canton on 5th July last, the effect of which was to stop shipments in transit and all similar state of affairs existed at Swatow. imports of the foreign drug for some time. A

Your Commillee took energetic measures to fallen almost entirely on the imported opium protest against this exaction, which would have

as, although the exten duty was to be payable both on the native and imported article, the former would escape much of the duty, as at present happens. It was pointed out to H.D.M.'s Minister at Peking that smuggling would cer lainly be again resorted to in view of the great. It was brought to the notice of the Comly calanced cost of the urticle, and the proposal mittee in June last that under the then existing to double the imports on foreign opium was a law there were no effectual regulations to stop poor return for the consideration shown by the the increasing practice of Chinese employees British Government to China in helping her to leaving their employment without notice, collect the opium taxes. It was suggested that thereby causing loss and inconvenience to the

the provincial share of the indemaity due to the employer against whom it was easy for an

Foreign Powers might easily be met by increas employee to recover damages for a similar ing the duty on the native product, and, by fault on the master's part. Representations strictly enforcing the same, a large revenue were made to the Government with a view to

would be assured and a vast contraband trade

remedial legislation being enacted, and the Committee are of opinion that the Employers and Servants Ordinance, No. 45 of 1902, will go far to meet the evil complained of.

ABSCONDING CHINESE DENTORS.

53. There would be much inconvenience in placing the currency and the system of ac counts in the Straits on a rupec basis. The East India Company in 1855 adopted measures for forcing the rupee (which had previously bien legal tender) into 'general circulation in the Straits and making it the only legal lender. 46. it has been argued, that," as the Straits Great inconvenience was experienced and public is a collecting and distributing centre for pur demonstrations took place, resulting in the pro- poses of trade, and as many of the countries ject "being countermanded. The dollar con- with which it has commercial relations have|tinued in general circulation without being hitherto had a silver standard and have used legal tender, and Sir Hercules Robinson in the same coins, the adoption of argoki standard 1863 pointed out the absurdities of a system by may seriously affect its prosperity. We are

which rupees were used for Government not prepared to say that there is no force in accounts, whilst the real monetary transactions favour of a change to a goid standard, the chief this argument, but we think that too great of both the Government and the public were to meet the requirements of business in the Shang firm of Canton were in the habit of

weight may easily be attached to it. Singa- conducted in dollars. We do not think that pore is a great centre of trade by reason of its the community would take to the rupee much natural advantages, and its freettom from cus- more kindly now than they have done in the toms duties. In these respects the adoption of past, and if the dollar and cents system is a gold standard will not make any change. continued, as we recommend, it is obviously

'more convenient that rupees should not be in by the Government as the future value of the Canton after 'demand for the debt had been circulation and that the dollar should bear a fixed ratio to the sovereign, and should not be quoted in terms of the impée.

exceptions being the banking community and

the mining community. The latter, if we ex- cept those in receipt of money wages, have probably been the principal gainers from the continuous decline in the gold value of the dollar.

39. There is no question that the Straits Settlements and the adjoining Malay States have prospered under a silver standard. Trade has grown largely. The values of the imports and exports and the growth of trade during the last twenty years are shewn in the fol lowing figures:--

STRAITS SETTLEMENTS Imports.

Exports.

Dollars. 77,025,952 125,805,772 266,553,270

Dollars

1881

84,190,397.

1871............ 135,886,217

1901.................310,381,094

FEDERATED MALAY STATES.

Imports.

Exports,

1881

5,669,078

19,161,159

1892 30........

39,524,603

5,538,641 22,662,359 63,107,177 These valuations are in silver, but even if the imports and expors for these years be "valued in gold the increase is very great. Pro-

sperity is everywhere apparent.

4. It is contended that there would have been the same or greater growth of trade and prosperity if a gold standard had been in exist ence for the last ten years. However that may be, we are of opinion that there must be a point at which the advantages said to be derived from a low or falling exchange cease, and dis- tiget disadvantages are experienced. As the dollar bis now fallen in value from 45, 2d, to about 18. 78., the time has come at which those interests which have continously suffered from the fall may fairly claim to be protected from further less, unless it should appear that the disadvantages of adopting the necessary remedial measures would outweigh the benefits to be derived therefrom..

47. In trade between silver countries and

gold countries the difficulties of a fluctuating exchange most be encountered at some stage and the evidence before us justifies the belief that the Chinese merchants who chiefly man. age the trade between the Straits and he adjoining silver-using countries are as well fitted to deal with difficulties of that nature as merchants of any other nationality. Moreover, in any case where the countries adjoining the Straits Settlements; now use, or may hereafter adopt, a gold standard the difficulties of a fluctuating exchange so far as they arise from a difference of standard will be not transferred but wholly removed,

48. Our attention has also been called to the probable further fall in the value of silver which may follow the adoption of, a gold standard by the Straits Settlements. We do not think that such a change would in itself have any considerable effect on the price of silver, but it would undoubtedly have some weight in inducing other countries, to follow the same course and the cumulative effect of such changes might be considerable. On the other hand it can hardly be expected that the Straits Settlements, if it should appear advant- ageous to adopt the gold standard, should sacrifice their own interests out of considera. tion for other countries.

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34. if the cost of a change to gold standard is to be faced we consider it advisable that

the Straits Government should, maintain a gold standard themselves, incurring the initial cost and receiving any profit which may ultimately ensue from their own cur rency. We believe that the flourishing .con dition of the Settlements and the Malay States, and the profit on overvalued coins will, with careful management enable them to maintain it. It is true that the trade returns (see Appendix 18 (12), Retum No. 19), shew a large excess of imports over exports in the case of the Settlements, but it is agreed that those returns are only partial, and we do not believe that there is any thing in the trade balance of the Colony to make the maintenance of a gold standard specially difficult.

55. There are various methods which might

60. After the Straits Settlements had arrived at this stage, the procedure might be exactly the same as it was in the case of India, after sufficient Straits dollars had been coined Colony and the adjoining States, the coinage of dollars would cease until the exchange value of the dollar' had reached whatever value in relation to the sovereign might be decided on

Straits dollar. After this stage is reached the straits Government would issue the new dollars in exchange for gold, and at the fixed rate.

A case of considerable importance to Hong kong's trade with China was brought to the notice of the Committee by Messrs. Mounsey & Brutton, soliciters. It appears that the Wo

credit from Fuk Tai firm of Hongkong repairing to Hongkong and buying goods on

amongst others, which debts were not paid, and that the office of the debtors in Hongkong was closed and the person in charge went to made, but before the issue of the writ sunimons, The debt judgment was obtaured for $5,353.61 in the Supreme Court here.

was admitted and

Consul-General was, however, of opinion that this was not a case of "absconding as defined by Article 23 of the Tientsin Treaty, and advised an action being taken by plaintiffs in person in the Chinese Courts.

1. When the gold standard is established,

The plaintiff's solicitors requested H.B.M.'s it would not be indispensable that any gold coins should be made legal tender in the Consul-General in Canton to act in concert Colony and the Stales. But the Government with the Chinese authorities in Canton to should be prepared not only to give in ex-enable the judgment debt to be satisfied. The change for a sovereign sach number of dollars as are hereafter declared equivalent to a so vereign, but also to give sovereigns in exchange for dollars at the same rate so long as gold is available, or to give bills on the Crown Agents in London based on the fixed rate of exchange. 62. The above method would be rather slow in operation and would involve some, though not very great, expenditure, but it would be a perfectly safe, and, we believe, sure method of establishing a gold standard involving no risk and creating the minimum of distur bance, while we do not anticipate that any very serious delay would occur before the gold

be adopted for the establishment of an inde-standard became effective. If the time within pendent gold standard in the Straits Settlements.which the gold standard becomes effective 15 The first which we wish to mention is that of unduly prolonged, the matter might be ex which the leading idea originated with a Sub-pedited by establishing a gold reserve, and in Committee of the Singapore Chamber of Com any case we think that the profit made on the merce, and is explained in its Report of 6th coinage of dollars after the establishment of a November, 1897. Under that proposal the gold standard should be set aside as a gold Straits Government would obtain a supply of reserve, the whole or any portion of it being notes of small denominations, especially of one of thought desirable, invested in gold securities. dollar notes. This supply would require to be

63. There remain two matters on which amply sufficient to cover the whole number of Mexican and British dollars circulating in the tions. It has been represented to us that we think it expedient to offer some observa, area of the Colony and the Malay States in

the trade of the Straits Settlements is accom- which it is proposed to establish the gold panied and facilitated by a large import and standard. The object of obtaining these notes

re-export of silver dollars, and it is feared that would be temporarily to substitute them for the

that trade might be injured if either the import Mexican and British dollars as the currency of of Mexican and British dollars were prohibited, the country, and, later on, 10 exchange these

or if Mexican and British dollars ceased to Le notes for coins of a new currency special to the the legal currency. As regards this matter we Straits and issued on a gold basis. We have considered the details of the measures by which desire to point out the prohibition of the import this could be carried out, but as, for reasons given below, we do not see our way to recom. mending the plan, we have not thought it necessary to include them in this Report.

56. If the procedure above indicated could

of Mexican and British dollars would only be a temporary messure and that simultaneously the exchange of the new special Straits dollar for the existing currency would provide a supply of Mexican and British dollars more than sufficient to meet the wants of trade, whi le after the completion of the xchange, and on the demonetisation of the British and Mexican dollar, the prohibition of importation would be withdrawn and Mexican and British dollars might continue to be imported and exported as the Straits Settlements with foreign countries merchandise in any quantities that the trade of might require. To allay possible apprehension, however, it might be well to provide when the general import of Mexican and British dollars

Article 23 above referred to reads as follows:- "Should natives of China who may repair to Hongkong to trade incur debis there, the recovery of such debts must be arranged for by the English Court of Justice on the spot; but should the Chinese debtor abscond, and be known to have property real or personal within the Chinese territory, it shall be the duty of the Chinese authorities on application by, and in

concert with, the British Consul, to do their utmost to see justice done between the parties."

The defendants had property in Canton and, through their absconding, the judgment of the Hongkong Court was set af defiance. The Committee advised the plaintiffs to represent the matter to the Government and they were informed that His Excellency the Governor could not see his way to take any action in the maiter as suggested.

The Committee do not agree with the deci. may decide later to represent the matter to sion of Mr. Consul-General Scott, and they

H.M.'s Minister at Peking.

DISINFECTION OF VESSELS AND DESTRUC- TION OF HATS BY CLAYTON'S PROCESS.

·

Rats Ordinance, 1902, The Government requested the opinion of the Chamber as to the desirability of using Clayton's process of pumping S.0.2 gas into the bolds of ships for the destruction of rats.

·

brought under control.

This matter was referred to the Home Authorities, and in December last, after · negociations extending over seven months, the

The Committee desire to place on record their final abulition of the new tax was accomplished.~~. appreciation of the energetic manner in which Sir Ernest Salow and Mr. Consul-General Scott brought this matter to a satisfactory con-

clusion.

PROPOSED FÀST ATLANTIC SERVICE BY

THE C P. R. CO. It came to the knowledge of the Committee

in September last that negociations were pending between the C. P. R. Co, and the Imperial and Dominion Governments, with a view to the inauguration of a fast Atlantic bability be followed by a faster train service Service which, if successful, would in all pro-

across Canada and quicker steamers to the Far East. As this proposal would have the cffect of reducing the delivery of the mails from London, vid Canada, to about 25 days, the following resolution was passed and for. warded to the Government for transmission to the proper authorities :--

"That this Chamber strongly endorses the necessity for a fast and reliable At. lantic service being inaugurated in con- nection with the present excellent service between China, Japan and Canada, and being of opinion, judging by the regularity, despatch and reliability of the Canadian Pacific Railway Co.'s present Pacific mer.. vice, that an equally satisfactory Atlantic service would be provided on the improved conditions stated above, hereby recom mends that the contract for such a mail and passenger service be accordingly en- trusted to the Canadian Pacific Railway Co, and that a copy of this resolution be mailed to the Postmasters General at London, England, and Ottawa, Canada."

FRENCH TARIFF AND HONGKONG PRODUCE,

Since 1900 further correspondence has taken.

place during the year, and it is satisfactory to

notice that this Colony has been placed in the same footing in this respect with the Straits Settlements and Federated Malay State's as the result of further negociations between the Home Governments,

CHINESE BMIGRATION ORDINANCE, 1901.

The Chinese boarding, house keepers pati. tioned the Government in July last against the onerous conditions contained in this Ordinance, and sought the assistance of the Chamber an the ground hat the shipping interests of the Colony might suffer through. the probable Your Committee were adverse to the em- driving away of the coɔlic emigration business ployment of this process on the ground that the to neighbouring ports. The Committee did use of the apparatas would involve the deten- not think it advisable to protest against tho tion of steamers and const quent beavy expense, clauses of the Ordinance regulating the amount and also because in most cases vessels calling here usually have large quantities of cargo on not, therefore, be practicable. board for ports beyond Hongkong, and it would

The Government drew the attention of the

Chamber to the regulations drawn under section 3 of the Rats Ordinance of 150 with a fully informed on the subject. These regula view to the shipping interests of the port being tions are to be found on page 334 of the Gazette

of the security to be found by the holders of boarding house licences, but agreed to repre- sent to the Government the advisability of curtailing the 48 hours during which emigrants were obliged to remain in the boarding houses, more especially as regards male emigrants over 16 years of age. The Government weré ap-.

that the time should be reduced to 24 hours.

49. There is a further objection to the estab- sliment of a gold standard in the Straits Settlements which applies also to other Eastern countries such as India, Java, Siam and the Philippines. In such countries; although the standard may be gold, the coins in actual use must continue, for an indefinite period, to be mainly silver coins, and such coins must be of unlimited legal tender. With a sufficient gold reserve these coins can be 41. Fluctuation in exchange is undoubtedly | maintained at their legal value, so long as a a grave disadvantage to the community gene settled Government exists which is able to en- tally. It introduces an element of speculation furce its laws. If the Government were des- which constantly interferes with legitimate rayed and anarchy prevailed in any of these business. The introduction of a gold standard countries the gold standard would disappear, will not do away with this evil, bat will transfer and the holders of the overvalued silver coins it from the trade with golf countries, to the

would suffer serious loss. The contingency is trade with silver countries. The trade with a remote one and we do not think that in the gold countries, however, is much larger than

case of the Straits Settlements greater weight that with silver countries, as will be seen from need be attached to this objection than in the be successfully followed the question of intro the figures supplied by the Singapore Chamber case of India, Java or any other Eastern coun-ducing a gold standard into the Straits Set of Commerce [Appendix 18 (12)]. The dispm- try under a civilized Government.

ilements would be solved in the speediest portion in favour of trade with gold countries sa. It will be seen that, apart altogether from way, and solved in a form which would will be increased by the recent addition of the question of practicability, there are argu- not impose any cost on the Government Siam to the list of gold countries, and the probments both for and against the expediency of able addition in the near future of the Philip establishing a gold standard in the Straits lation would quietly accept notes for coin But the question whether the general popu- pines. The same course may be followed in Settlements. We have tried to set out these throughout the country is one in regard other-countries-with-which-the-Straits-are-in-arguments-with-impartiality-and-while we do to which we feel great÷doubt. From what

of the 15th March, 1901, and apply to all ships -this-suggestion-and-the-Committes-were-sur- commercial relations, and which now employ not think a gold standard should be pressed is known of India we have ao hesitation

not propelled by cars except junks and larchas rised to learn that the petitioners had in- the silver standard, but we see no prospect of on the Straits Settlements against the wishes in saying that no such plan could have is prohibited that such dollars might beimported not propelled by steam. There are also pro timated that they no longor desired the curtail- of the Government and the people, we are been or could be adopted in that country, for purposes of re-export with the sanction in visions to prevent rats from entering buildingsment of, the 48 hours rule laid down in the equally of opinion that no objection should be and although the proposal was made by a each case of the Straits Government and on raised on the part of ffis Majesty's Government Sub-Committee of the Singapore Chamber of such conditions as that Government might drawn. to the principle of the change, if the Govero-Commerce, and is supported by other persons prescribe." inent of the Straits Settlements, after consider who have practical experience of the country,

64. A large amount of subsidiary silver ing all sides of the question, should decide we consider that the risk of its failure owing to cqips has been issued in the Straits, and a por finally in favour of an alteration from the silver the possible suspicion and opposition on the tion of it, approximately estimated by the logold standard.

part of the general native population is so great Colonial Treasurer af 300,000 dollars, is in that on she evidence before us we cannot circulation outside the Straits Settlements, the recommend its adoption.

Federated Malay States and Jobore. Some, if not all, of these coins will be returned to the Straits Settlements when a gold standard is established. But we do not anticipate any serious trouble from this cause. If they are returned and put into circulation in such quanti ties as do not cause the subsidiary coinage to fail below its face value no harm will be done, and if the subsidiary coinage falls below its plan it will be necessary for the Straits to face value the tendency of such coin to A:SK for ASAHI JAPANESE, BEER. SK for ASAHI JAPANESE BEER- ♫X G. Girault

any such change being made in China; and the places immediately adjoining the country, which depend largely for their prosperity on their trade with it, will consequently have a strong inducement to maintain the same stan dard of value.

43. Akhough the uggregate of the trade with China and other silver-using countries is smaller in amount than that with gold coun- tries, it has been represented to us that the number of transactions with the silver-using countries is larger, and that although the existing evils might be transferred to a different class of operations by the adoption of a good standard, their magnitude would not "really be reduced.

43. An important consideration is the difficul ty under present conditions of obtaining capital from gold countries... The Straits Government ASK for ASAHI JAPANESE BEER

PRACTICABILITY OF A CHANGE,

5r. If it is decided that the gold standard enght to be substituted in the Straits for the present silver standard we are of opinion that such a change is practicable. Special difficul-

57. The plan which we recommend is grad cally to introduce, a special Straits dollar of the same weight and fineness as the British ties are no doubt presented by the fact that at dollar at present current in the East to be present the countries in question do not make substituted for the Mexican and British dollars, use of standard coins which are peculiar to the latter dollars being demonetized as soon as them. They employ the British and Mexican the supply of new dollars is sufficient to permit dollars which are current in the East generally, of this being done with safety. Under this of which enormous quantities exist, and which ASK OF ASAHI JAPANESE BEER-

AG. Gimalt.

to which the attention of property owners is.

REGISTRATION OF JUNKS UNDER FOREIGN FLAGS TO EVADE PAYMENT OF “CHING- FEI" LEVIED BY VICEROY OF

THE TWO KWANG. The attention of the Government was drawn to the fact that junk owners were evading pay meat of this tax to the Imperial Maritime Customs at the Taishan Custom House at the entrance to the Canton River by resorting to

However, the Government would not agree to proached on the subject, and it was suggested

Ordinance.

COLLISIONS BETWE` # JUNKS AND STEAMERS. In 1901 representations were made to the Government on the subject of regulating sall- ng craft in the barbour in order to prevent the dangerous custom of sailing craft crossing the bows of steamers. Endeavours were made to get a similar regulation in Hongkong to that enforced at Singapore, bat without success. However, in 1çoz this subject was portued and met with better success at the hands of the

the protection of foreign flags and producing Government, the result being the passing of documents stamped wilb the seal of the Ger the Junks (Collision) Ordinance, No. 39 of man and American Consuis, authorising their 1501, which practically places junks and respective flaga lo he used, and in virtus there steamers, on the high seas only, on the same of evade the tax in question. It was pointed footing, between sunset and sunrise, as regards out that British merchants and traders were lights. The Committee regard this Ordinance precluded by the Shipping Regulations from as merely a step in advance, and further repre-

SK for ASAHI JAPANESE BEER, SK for ASAHI JAPANESE VEER-

A G.. Girzult.

1 G. Girault

As

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