1905-07-06 — Page 5

TELEGRAMS.

[Reuter's.]

Prince Arisugawa in England. LONDON, 4th July,

Prince Arisugawa has given a donation of 10s to the Lord Mayor for the King's Hospital Fund.

Later.

Princess Arisugawa successfully launched the Japanese battleship Antori at Barras in the presence of 10,000 cheering spectators, The ship weighed 9,400 tons when she took the water; a record Inuuching weight. The weather was brilliant and the Prince and Princess were much orated. Viscount Hay ashi and many Japanese attended the cere mony. After lunch the builders presented the Princess with a diamond pendant and a jewelled miniature of the Katori.

*

Church and State in France, The French Chamber has adopted a Bill for the separation of the Church and State,

::ལྟ་་

THE HONGKONG TELEGRAPH, THURSDAY, JULY 6, 1905.

MEMORANDUM ON STRAITS

CURRENCY REFORM.

CONDITIONS AT TIL OUTERT.

Government-on the contrary-but" of the cheme itself. If these reasonings are correct the future will never be safe unless some remes dy is provided against the dangers arising from the axternal circulation,

THE WAY OUT,

HUNGKUNG AND WHAMPUA DOCK GO.

Hongkong and Whampoa Dock Co., Ltd., will be pleased to learn that he has

MR. W. WILSON'S PROMOTION,

The many friends of Mr. W. Wilson, man- 4. There are generally ways out of every Fager of the Kowloon establishment of the 11.fficulty, and the following is advanced as a solution of the present problems:-

(8) That, in order to have no period of can traction at all, fe, to make the ratio at once ective, the Government provide, concurrent with declaring the ratio, sufficient gold, and give it right from the beginning for Dollars of Notes tendered.

1. The following are some of the conditions. prevailing in India and the Straits Settlements, respectively at the time of the Reform --

The huge Continenc of India is a compact political and economie' body with its own. hinterland, self-contained, and with a self- contained trade. As the time of the change of inndard, had a large debt, a deficit, and the tax screw put on to its maximum. They population, wedded to the rupee, would, it was believed, look at no other money, and had shown itself unfavourable,

The majority of this papalation were ignorant agriculturists. Trade formed only a portion of the sum total of the country's interests. The whale issue of the currency was practically all circulating within the country oly, and the country itself, being for fin social and other reasons not in a position to aspire to the best in money (r, a gold currency) had to resort the token as a matter of necessity, and not of ¿hoice.

the Note.

(b) That, in order to avoid the dangers fro the external circulation, the coinage of the Straits Dollars be closed for good, and an an› nouncement to that effect made by Government Any future required expansion of the currency to be Noter only, for sale against Gold,

CONTRACTION AND RESERVE

5. The period of contraction was deemed Prince Arisugawa recalled the fact that

unavoidable in India. The quantity of gold Admiral Togo's flagship had been built at

required appeared so large as to raise outside Barrow and hoped that the Kateri would

considerations. The financial position of India was such as to lead to the belief that the prove a valuable addition to the Japanese

On the other hand the Straits Settlements scarcity period was the only means of practi Navy and act as a guarantee for future peace.

consist practically only of a couple of transiting the required gold. The hardships of that On the occasion of Prince Arisugawa'sports, entirely dependent on the trade with the stage were not anticipated, and when realised, visit to England, Viscount, Hayashi has surrounding countries, which form a construc.everything possible was done to shorten the received the Grand Cross and others, minor tive Hinterland. Any trade disturbance in duration of the period. grades, of the Victorian Order

this Hinterland (in part politically independent In this respect also the Straits are in a of the Straits) adversely affects the Straits different position. The quantity of gold re- trade. The major portiga of the Straits cur- quired to enable the Government to make the rency does not circulate in the Colony, but in ratio at once operative is so small as not the above mentioned hinterland, which makes possibly to raise outside considerations. With use of the currency without any arrangement confidence prevailing--which will be assured with the Colony. The Straits bave a good once there is certainty that the coinage of the Budget, no debt, and practically no taxes. Straits Dollar is not to be increased-it is pro The population is enlightened as to money bable that no tender will be made at all, and would practically adopt any coin backed It is believed that a small gold reserve would. by Government, while the Note is not only be sufficient for all purposes. With the pros. Popular but greatly preferred to the silver pective great expansion of the surrounding deller. Financially and otherwise the Colony countries, with the generally favourable position is in a position for the best as regards money of the Straits, Settlements, its credi, and the to fall within its means. This best-a gold fayarable balance of exchanges, it is believed currency-would greatly assist its trade, which that a Gold reserve of £100,000 would do all practically represents the sums total of the that is required, and, that as the outside figure Colony's interests, other interests being in pro-the utmost possible maximum-£500,0co partion small and dependent on the trade. can be named.

by 341 to 233-

The Peace Negotiations. M. Skipoff, Director of the Treasury; M. Pokotiloff, Minister at Pekin; Professor Martens, General Vermoloff, military attaché in London, Captain Rousstine, ex-naval at tache at Tokio, and other experts wijt assist

M. Muravic and M. Rosen.

A Russo-Japanese exchange of views is proceeding through. President Roosevelt with a view to an armistice.

The Black Sea Mutiny,

The surrender of the Pobiadonetsile "has been formally carried oul; the officers have returned on board and the ringleaders sent Ga shore.

The Russian transport Prouf has mutini. ed. Before leaving Kustenji the mutineers handed the Prefect a humbastic proclama tion declaring war on all Russian ships not joining them, and notifying their intention of bombarding Russian ports, but of respect ing neutrals.

[N. C. D. News'

Porce Prospects.

•

Tokio, 28th June..

The Seiyukai have passed a resolution which,

while refraining from enumerating the de mands to be made on Russia, urges that the cession of territory and an indemnity may pro: perly be required for the safeguarding of the Empire, and in the interests of the permanent peace of the Far East recomme ds a decisive solution of the various questions in Coren and Manchuria.

The Progressists have passed a resolution to a similar effect.

The Campaign in Manchuria.

Tokio, 28th June.

It is officially imported that live Russian companies with six guns appeared on the even- ing of the 16th inst., in, the neighbourh nd of Changchiatun, fifteen miles north-west of Kangping. They were repulsed to the north

ward.

:

And in Coroa-

Tokio, 18th Juce. The Japanese have occupied Yusnong eleven miles north of Kuong ong, North Corea.

THE TRAVANCORE" INQUIRY,

TRADE CONDITIONS.

2. Now that the British and Mexican Dollars are demonetised, the scheme for the reform is, for both countries, one and the satne. Con- sideration will show that for the stage now approaching-the period between declaring the ratio and its becoming effective-the differ. ence in conditions precedent might lead to that period lasting longer and entailing pro. portionally greater hardship than in lodia.

When scarcity will make itself felt in the Straits (as it is intended under the scheme that it shall) it can be temporarily, reme.

lind

wiz

inseng, as regards the interland, the creditur-country and in other respects beller organised, cun easily attract the money circulating in the Hinterland,

I

:

To have such, or even a large stock of Gold ready at the time of declaring the rating to as once offer to give gold at the ratio for the token and thus save the whole trouble of contraction, is financially within the teach of, and would pay, the Calony. The Colony possesses al

eady sufficient gold-it is only necessary to liquidate it and make it do service for a short time.

The gall required is extant in the gold in vestments of the Straits Currency Commis sinners, a temporary gold loan against which should be negotiable at cheap interests. As ..................♬ would probably only be required for a short period, namely until sufficient gold be ging to flow in by means of expansion of the currency, the cost for each year, of stringency voiled would be small, and, in comparison with what it means to the Straits Settlements to avoid the whole period of contraction, insig. fitficant,

CLOSING DOLLAR ISSUE.

Specie can be transferred and retransferred by means of which manipulations (perfectly fair and business-like), the time for the ratio

6. Closing the issue of the Straits Dollar will becoming effective would be retarded, perhaps avert the danger from external circulation, considerably. Especially so as the volume of whether arising from its demonetisation by any currency to be handled is smaller, the dispart of the Hinterland, or from its emigration tances nearer, the intercour.e closer than in India,

to China and elsewhere.

The necessary expansion of the currency, is provided for by means of the Note instead of the silver Dollar, and apparent difference only, since it is to a very great extent already the were popular Note which circulates.

The real difference is that, as security against

been appointed acting chiel manager doring the absence on leave of Mr. W. B. Dixon, the holder of the substantive appointment. Mr. wilson's well deserved promotion is popularly

́received by the shareholders of the Company, as it is certain to be learnt with satisfaction by the large number of people forming the ship- ping community of the port by whom Mr. staff of the European employees of the Com Wilson is generally well liked. · The large

paay will also receive the news of the Kow- loon manager's advancement with a great deal of pleasure; fer Mr. Wilson's promotion is

deserved on the principle of palmam qui mr all feral. We understand that the appoint

'ment was made in deference to the wishes of

certain shareholders.

THE KWANG-CHOW-WAN

ATROCITIES.

To-day's Advertisements.

NOTICELY

HS NATILAN will be "AT HOME at MOUNTAIN LODGE, TO-MORROW AFTER- NOUN, from 445 to 6.45 P.M.

IS EXCELLENCY SIR MATTHEW

Government House, Hongkong, 6th July, 1905.

"SHIRE LINE OF STEAMERS.

FOR NAGASAKI, KOBE AND YOKOHAMA.

THE Steainship

"DENBIGHSHIRE "

(712

Intimations.

| ROBINSON PIANO

COMPANY, LD.

THE PUBLIC MAY RELY

IMPLICITLY ON GETTING

FROM ÚS

PIANOS

OF THE

will be despatched for the above Parts, TO HIGHEST CLASS MORROW, the 7th instant, al 5 E..

For Freight or Passage, apply to

SHEWAN, TOMES & Co.,

Agents "Shire" Line. Hongkong, 6th July, 1995,

. (710

"SHIRE" LINE OF STEAMERS.

NOTICE TO CONSIGNEES.

FROM MIDDLESBOROUGH, LONDON AND STRAITS.

"DENBIGHSHIRE," Captain W. A. Evans, having arrived from the above ports, Consignees of Cargo are hereby informed that their Goods are being landed at their risk into the Godowns of the Hongkong and Kowloon Wharf and Godown Company, Limited, at Kowloon and stored at Consignees' risk and expense.

No Claims will be admitted after the Goods

have left the Godowns, and all Goods remaining undelivered after the 12th inst, will be sub jest to rent

In the Courrier saigonnais of the 27th ult,, an article appears on the subject of the Kwang- chow.wan outrages. The writer states that M. Alby, the resident, has arrived at Hanoi to answer for the crimes committed at Kwang- chow-wan in the name of France. The de- THE Steamship fence of Resident Alby is, briefly, that he knew nothing about the outrages, that everything was done by the "bandit" Liegeot, and that he had not the slightest idea what was happening. The writer, however, alleges that the atrocities, the tortures, massacres, and mutilations were carried out within the cognisance of the Rest dent, under the pretext that they were intended to repress Chinese piracy. The writer fur. ther alleges that whatever was done by Liegeot had the 5 spport of the Resident and that in fact the policy of decentralisation was carried out to the most extrémne limits. He charges Ally with carefully hiding from his right hand what was being done by his left, and snakes many bitter remarks regarding the pretended innocence of the Resident. Alby, he says, is merely responsi ble for assassinations by premeditation, the torture of Chinese men and women, and children-the protégés of France-torturings and assassinations by the dozen. The stories T of the Congo attrocities were received with horror, but at any rate the people of France could congratulate themselves on the fact that at least Indo-China was free from these barbari- ties. They little knew that Kwong-chow-wan was being converted into a charnel-house. The writer commiserates the Kwang-chow-wan pea ple on their sufferings, and assures them that they have the sympathy of all right-minded people.

COMMERCIAL

-TO-DAY'S CHANNE

Seliter.

London-Rank T,T. ...m

....

130 Da 4 months sight tance-Bank T.T...... erica-Bank T.T Germany--Bank TT.

-dia T T.

Each transfer would for the time being denude more or less of currency the part of The Hinterlant concerned, leading there to stringency of money and producing a disturb the Notes circulating, there would he save- ance of the local trade. Such disturbance reigns in place of silver Dollars in the Govern

Do. demand would each time he bound to react on the mentauits. This in itself is an advantageanghai—Bank T.T. trade of the Straits Settlements and thence and strengthens the position, since the coveted Japan-Bank T.T.......

`ava—Hank T,T. spread to the whole system. The sum total of gold reserve could (by notes being sold only a the interests here being trade-inare minst gold) be far more quickly accumulated, mediately sensible to currency effects than other interests-die handships' would be com paratively greater.

than if drawn as now contemplated, from profits of coinage, Such profits are them selves uncertain and of doubtful advantage, While conclusively counterbalanced by the To this should be added that the moment inherent disadvantages. Further, it gives the the ratio is declared the rate of the Dollar is in

certainty that the issue of token (which is s'ject to the collapse attendant on all things one direc ium guaranteed, which one-sided protifiial) will not be excessively increased tection is likely to lead during the period of It is also a means of avoiding the danger of transit ens (as it did in India) in greater renewed dislocation of prices should silver rise fluctuations than ever and to a renewal of love the ratio fixed-a danger which it is une of the principal objects of the reform to do unhealthy speculatirin.

away with,

In any case it will be granted, that it would be preferable if the pead of contraction, ac. companied by stringency of money and the hardships to trade resulting therefrom, could be av ådeð altogether.

After nur report of the inquiry into the stranding of the sailing ship 7ravancore had left the Court yesterday, the following ad- ditional evidence was given by the chief vessel from the westward and heavy rain and officer,-At 9.15 a heavy squall struck the this caused the ship to move her bows which were paid off by reason of the sail set on the foremast, and had sait been set as ordered on the aftermasts the, vessel would have gone clear.. As it was she glided forward, but got hang up by the stempost, and her bows swing. ing round, she became Again stranded The men were ordered to make sail in the mizzen be equally assured. which thus time they did,and shortly afterwards

EXTERNAL. CIRCUITION. 3. Even after the the ratio is effective, the Holt on of the Straits Seulements will be less favourable than that of India-stability will not

But the greatest advantage in closing the silver coinage lies in thereby arriving no ling with the currency, at that gold basis, tomatically, quietly, and without further med. which is so earnestly hoped a d looked for.

The Gold Currency would place the Straits trade and Hinterland using its currency on as privileged a footing in this part of the East as Great Britain's trade enjoyed up to 1873 over that of the Continent.

7 The simple measures proposed above are the only remaining modifications of the scheme This on account of the "external" circula-indicated by the local conditions, but they are indispensable if the best for the Colony is to

the vessel began to bump very beavily... The tiun of the Straits Doltar. The greatest portion men then left the ship and witness Recom panied them, but the master refused to leave of the Straits currency is circulating "outside" and remained on the prop. About & a.m. of the Colony, which unfavourable proportion the master slepped into the first boat that

will grow as the currency is allowed to work

and laid off the ship and about 7 a.m.

be done.

:

ORJECTIONS MET. Any objections, such as there being difficul tits about the gold required, or there not being

rigidly adhere to the course pursued by india,

came alongside and went to the Liking, | automatically, the export to China and else. sufficient silver dollars, or that we should sighted the Reberi Cooke. She went to their where again allowed, and the cheque system in assistance, bringing the second officer and the Straits increasing in favour and expanding. crew back from Hongkong, --Hawsets of 44′′ | The future of this important portion of the issue wire were then passed from the starboard bow of the token coin his been left (and to some of the Travancore to the Robert Cooke, As soon as the hawsers were made fast the crew again left the ship in the two boats without permission, and the master and witness alone remained on board. The Robert Cooke then

commenced to go ahead, and on the aid ultimo the vessel was cleared, fter a con sultation between Mr. Martin, first mite of the Pebert Cooke, and Capt. Chamberlin it was decided to continue the towage of the Travan- core to Hongkong provided the men could keep the water down by pumping. They were towed into Harlem Bay, where they anchored in four fathoms of water. When the ship was pumped she 'was towed to Hongkong.

By the President-It took same three minutes to get the anchors c'ear for letting Ko. The ship's log was lost during the second time the loats left the ship. The crew are prin cipally English and Irish. Witness had no thing to drink before leaving Hongkong. They were carrying stone and sand ballast. le -could not say that he bad ever seen the master

under the influence of drink. The racks seem -ed to be about three-fourths of a foot distant When they inished stays. He received no orders from the second officer when he relieved him at midnight. ;. He had been first officer in the

Asa Noramber of last year.

extent must be left) entirely la accident. There is no Currency Union.

need only be approached to fall to the ground while even the closest investigation will show the mode proposed to be sound in principle and easy in practice. With the face an unknown number of years eich in present scheme unaltered the Colony has to

volving an unknown extent of trouble, from which it would emerge with the currency still on an unsafe basis and with the best possible

Should at any time for some reason or other a reflux of this external circulation take place, it would always be embarrassing. Should the achieved. With the present scheme modi. reflux be large and take place when the intrin Reform would be over within twenty-four fied as above suggested, the whole Currency sie value of the Straits Dollar has considerably hours. All apprehensions and speculations as declined, confidence might be shaken and sia- to the future would at once he removed; there bility as well as the financial strength of the would be no period of tightness of money: po Colony put to a severe test. If concurrently tions and prohibitions. All dangers from the further dislocation of prices; no more restric the economic position of the Settlements benken, from the external circulation, from a otherwise under a cloud the whole structure of❘ rise of silver and the like, would be avoided; stable currency might come down with a rush, the currency would at once become automatic, Investigation will show that the external cir.and to the Straits Settlement, the most advan and become also automatically-the soundest, culation constitutes an unprecedented positiontageous possible, fe, a Gold Currency, For and a grave danger, leaving the future unsafether, the uncertainty of the present position is needlessly harmful to the best interests of the This danger has evidently been felt by Go.Colany and it is therefore to its greatest advan

tage that the currency reform be finally settled vernment; hence it is believed, the late procis-as soon as possible. Concurrently it can be mation re-prohibiting the export of the Straits shown that the total conditions could hardly Dollar, which constitutes one of the several al- be more favourable for such settlement than terations of the original scheme. *** ¡now.

..

GOVERNMENT ACTION,

This alteration has been adversely criticised

ship with the present captain since 23rd and called a sign of weakness. A sign of weak- The inquiry was adjourned until to-morrow, nose it appears indeed, not on the part of the

HAMA HUTTENBACH, Member Legislative Council,

Straits Settlements.

Pouang, 16th May,

Ruvine.

All broken, chafed and damaged Goods are in be left in the Godnwas; where they will be examined on the 12th inst., at 2.30 P.M. No Fire Insurance has been effected. Bills of Lading will be countersigned by.

SHEWAN, TOMES & Co, Agents. Hongkong, 6th July, 1903,"

(719

NOTICE TO CONSIGNEES.

THE P. & O. 5. N, Cols Steamer

*"JAPAN,"

FROM ANTWERP, LONDON, MALTA, PORT SAID, SUEZ AND STRAITS. Consignees of Cargo by the above-named vessel are hereby informed that their Goods are being landed and placed at their risk in the Hongkong and Kowloon Wharf and Godown Company's Godowas at Kowloon, where each consignment will be sorted out mark by 'mark," and delivery can be obtained as soun as the Goods are landed,

This vessel brings on Cargo:-

From London, &c. ¢¥ S.S. Egypt. Optional Goods will be landed here unless instructions are given to the contrary before Noon, TO-DAY.

.......... Ich

Goods not cleared by the 13th instant, at „1/10 g/16 | 4 P.M., will be subject to rent.

•1010 11/15

No Fire Insurance will be effected by ine in 2.3any case whatever. .....452 Damaged Packages must be left in the. Godowns for examination by the Cousignees' and the Company's representative at Jin appointed hour.

1.92

140

.1401

All Claims must be presented within ten ...71 fnys of the steamer's arrival here after which

late they cannot be recognised.

...92 .20

have left the Godowns.

* months' sight LIG.

......1'10) 396 1/10 15/16 6 months' sight L/C, to days' sight San Francisón & New York 461

do 4 months! sight

47 31 days' sight Sydney and Melbourne 1/11 1/16.) 4 months' sight Francs

...........2 394. * months' sight

..7.41 1.361

months' sighi Germany ........................ Ray Silver Bank of Roylamb rate....... Sovereign

OPIUM QUOTATIONS.

To-day's stationg see as follow

Malwa New

Old Older

Oldest

in New

pairs New

Darrian (Paner

THE

No Claims will be admitted after the Goods

1. S. LEWIS,

Acting Superintendent.

Hongkone. 6th July, root

12

FROM HAMBURG, BREMEN, ROTTER- DAM, ANTWERP, PENANG

AND SINGAPORE.

...THE H. A. L. Steamship

"SPEZIA,"

214 10.62

-Per picul

.. 1'40 .... 1180

1,340 Per chest

Captain Ehlers, having arrived from the above Ports, Consignees of Cargo are hereby requested to send in their Bills of Lading for countersignature by the Undersigned and to take immediate delivery of their goods from alongside.

•

Optional Cargo will be forwarded unless ..@ 1,230/1,2/6 | notice to the contrary be given before, TO-

DAY.

Any Cargo impeding her discharge will be landed into the Godowns of the Hongkong and Kowloon Wharf and Godown Co., Limited, and stored at Consignees' risk and expense.

All Claims must be presented within ten days of the steamer's arrival here after which date they cannot be recognised,

.....@]

.. 1089

. tan

To-day's Advertisements.

PUBLIC AUCTION, Undersigned have received instructions

to sell by PUBLIC AUCTION,

FOR ACCOUNT OF THE CONCERNED,

m

SATURDAY,

the 8th July, 1905, at 11 A.M., at their Sales Rooms, No. 8, Des Voeux Road, corner of Ice House Street,

A LARGE ASSORTMENT OF ENAMELLED WARE, GOODS. TERMS As usual:

No Claims will be admitted after the Goods

EMBODYING THE VERY BEST

MUSICAL AND WEARING

QUALITIES,

AT

MODERATE PRICES.

OUR CLIENTS HAVE. THE

ADVANTAGE OF OUR

30 YEARS' EXPERIENCE AS

EXPERTS,

DEVOTED

EXCLUSIVELY

TO THE PIANO TRADE.

WE ARE BY FAR THE

LARGEST IMPORTERS

AND

MANUFACTURERS

IN CHINĄ, AND STOCK THE&

GREATEST VARIETY

OF MAKES.

Hongkong, 8th June, 1904.

THE

"BURLINGTON."

CHARGES FOR DRESS-MAKING —

BLOUSES

From $3.50 cách

SKIRTS

From $4.50 each.

PERFECT FIT

GUARANTEED

AND

APPOINTMENT

have left the Godowns, and all Goods remain STRICTLY

ing undelivered after the 12th instant will be subject to rent.

. All broken, chafed, and dimaged Goods are to be left in the Godowns, where they will be examined on the rath instant, at 3 P.M, No Fire Insurance has been effected.

HAMBURG-AMERIKA LINIE, Hongkong Office.

[720 Hongkong, 6th July, 19at.

OBSERVED.

Our Goods have now been greatly THE DAIRY FARM CO., reduced in Prices, and are Cheaper,

LIMITED.

WE RECOMMEND A TRIAL

$718

HUGHES & HOUGH,

-- Auctioneers.

Hongkong, 6th July, 1995.

FOR SINGAPORE, PENANG AND

THE Steamship

„CALCUTTA,

"LIGHTNING a. C. Speece, will be despatched for the above Ports, on TUESDAY, the 11th instant, at Noon.

گھلا

¿For Freight or Passage, apply to

DAVID SASSOON & Co., LIMITED,

Agents, Hongkong, 6th July, 1905.

ΟΥ

MARLENE.

THE BEST SUBSTITUTE

FOR COOKING BUTTER.

'PRICES:

40 Cents per, b. Print.

20

(715 Hongkong, 6th July, 1905.

quality for quality, than can be obtained anywhere in this Colony.

HATS of every description kept in Stock, from $1.00 upwards, and Made to Order at Loudon Retail Prices.

M. GAINS,

Manageress.

TELEPHONE No. 635..

[4S

Hongkong, 3rd July, 1905,

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