1911-07-01 — Page 10

249

THE RUN ON THE BANKS,

Viceroy's Action Criticized. (THE "TELEGRAPE CORESPONDENT.

Canton, June 20.

TRE HONGKONG TELEGRAPH SATURDAY JULY 1 1911

The Hongkong Telegraph

HONGKONG, SATURDAY, JULY

ARCANA IMPERII.

(24th June.)

1. 1911.

to

SOME INSURANCE INNOVATIONS.

(27th June.).

intonts and purposes bo a second home with all the powers of such an assembly. Other amendmouts which have boon tabled by mambore of the opposition will definitely limit tlio action of the Lower House with regard to certain bills such as any provision for Home Rulo.

In one of our Coronation tolograms the other day, it was mention-

It is clear then, that the House of Commons will liavo the Voto el casually that the forecast of rainy weather on the 22nd led to Bill sout back to them in a form, which they cannot possibly accept, saddon rush upon Lloyds. There was apparently a general desire and the government will either have to carry out their throat As already reported in your

to insure against woather risks. The incident rocalls the fact that to create peors to flooil out the Unionist majority in the columns, the members of the Pro Whatever may be the foshing at Home with regard to the imperial in those lays insurance covora a lunch wider province than was the House of Lorde, or else come to the country with the confession, vincial Assembly wrote an official Conference, which has just brought its session to a close, we must case somo years ago. Lifo, fire and shipping used to exhaust tho that despite their election proinises, despite their threat, they hayo letter to the Viceroy, on behalf of confess to u sontiment of dissatisfaction, when we review what is insurance catogory. Now a man will insure anything, from his crops not been able to carry out that reform which they declared it was the people in Canton, asking for boen done by an assembly, from whom so much was expected. Yot, his prizo torrior. It's all grist tant comes to the insurance comp thoir mission to carry out. The prosent situation hue a further the results scem, comparatively speaking, nil, Subjects, important anios inill, and they are never slow to covor any risks if they think significance, for the tactics of the Unionists will it is thonghat, an explanation in connection gubjects, have been discussed at great length, and ho resolution or the transaction worth their while. With the famoso stride that free the government to discloso what are the nature of th with the recent issue of foreign decision has boon come to. Mr. Asquith in his speech, which was, have been ade in the use of motor cars, it is only natural that the guarantees the Prime Minister said he would get from the Crown. louns at the time when the people after all, in the nature of an apologia, attempts to excuse this, on the vehicles should figure largely on the insurance companies books Even the Liberals admit that the position is serious but their count made a ran on the official banks, grounds that thongli nothing definito, was the outcoms, yet the dis- The most recent innovation in motor car insurance is the inclusion of ings and goings are marked with a conficonco, that they have little It is reported that . E. the Vico-ssions had cleared the ground and given each a better idea of the mechin cal breakdown. Particular importance, too, attacles in the fear ut the linnls of the electors. They practically admit think other's requirements. Such phrases may bo well in an extensive value of financial protection against claims by the parts third the Lords have the power to free an election at the present roy has sent a reply to the Provin-paroration, but as a glorification of the proceedings of the Conference, party indemnity it is called. The danger is always prosent juncture, but assert that the Insurance Bill has not detracted front cial Assembly to the effect that they are but shallow excuson. We take it, the Colonial repre- the sum at risk indefinite but always largo, aul whether their popularity with the olcutor.to, as has been thought by some.

bo the fault of the morist or of the

person That may or may not be the caso; the only question which really the loans wore not issued for the sentatives went to London with a clear idea of what theyit purpose of saying the official wanted; we take it, that the British Government mot then sluiming, it is almost invarianty the motorist who is callestonecrus us, is whether or no the olection will moan another victory Punks from collapsing, as those knowing exactly how far they wore propared to accede to their apon to pay. Then there is burglary insurance one of the mist for a party, that despite its glorious promises of social reform have, wró banks have large reserves which demands; then why indulge in useless verbiage to palliste successful of modern schemes for indemnifying the indiviual against allego, attempted to abvert the constitution of the stato for furo matiers have boon discussed in the loss. Fidelity guarantee also are always in request. The value of party purposes. On the face of it the prosent government line had however are not placed in their the fact that some strong rooms,, but deposited in abstract rather than in the concreto? Why it would even this class of insurance can hardly be-over-estimated and it ranks vory since January to do something for the good of the working people, us different banks, is the province. Boop from the words of the Prime Minister that the conference was high among other forms of insurance. One company in London as they had promised; but they have done comparatively nothing, they Iad the official banks withdrawn school for promiers, where they could obtain those contributory ele. paid out no arly one million pounds sterling in this department, have suspended the operation of the legislative assemblies to consider their deposits from the other ments of experience and knowledge, which would better fit them for cluding eight thousand for a defau❜ting administrator, two thousand seadomio questions of constitution beforeany thought was taken of whet banks, a crisis in the commerciale performance of their various tasks than if they had not been there for a bank wannager, fifteen hundred for a laud agent, one thousand hid bean promised. That the insurance bill, after the first blush ling for the secretary of a building society ward many smaller amounts for worn off, does not prosent such a healthy appearance as it did, cannot be market would have been inevit. What is this but a more sop thrown to the hungry colonies?

With rogard to the foreign policy of the Empire, for the first time clerks and collectors who had committed breaches of fidelity and inoubted, and the state of affairs at present does not bode well for the ablo. The Viceroy explained in the lotter the object of issuing these in history colonial delegates have been taken into the complete en volrod their employers in loss. Despite the great risks presented by parts that scenis to be in danger of laving to go to the country with loans was to save the situation infidence of the Imperial Government. The Arcana Imperii have been this form of insurance the inear ince companies require only very two items, on its slate of deeds performed:--an abortive Veto Bill, the money market and for the laid bare by Sir Edward Grey, when the conference went into com moderate premiums. It is interesting just to glance for a moment and an unpopular insurance mousuro, purpose of devoloping local enter-mittee on the question of imperial defence.. These, and kindred at the cost of taking out such policies, as given in "The Financior": prises, The loans will be re-matters, are not public. It is as wall they were not, and the decisions that have been irrived at havo necessarily beon thrown into the samo deemed by the bonefits accruing

The gloom and obscurity, by the imperative need for absolute secrecy. from those entorprises. Viceroy stated in the letter that We can only hope that the right policy has won adopted

Technical education in China, ospecially in the application of ho never thought for one moment though the resolution asking for the allirmation of the Declara-

scientific principles to the various branches of industry, and the of asking the people to be respon- tion of London would seen to dawpon all hopes in that direction

dovolopment of the vast natural resources of the country, is now sible for the rodemption of the After various Colonial bodies have passed resolutions condemning

being given that attention, by the Hough Pu, which such a matter loans. The Viceroy also called the declaration, after naval oflicers, pooplo, who realize the possi

rightly deserves. More especially are the energies of the Board of attation to the fact that the Cantonbilities of this international measure, havo sont to Parliament

Education directed towards the formulating of special schemos, for treasury is very strained as the petitions pointing out its dangers, and after chambers of commerce result of the loss due to the sup-throughout the Empire luva signified their disapproval, the colonial

thrown

the discretion to delegates havo

Since the extension effected by fire offices into the domain of the perfection of teaching in engineering subjects, and it would seeut, pressión of gambling and reorgan-

1 vote in favour of measure accident and casualty insurance, it has become a fairly gonoral from this, that the Poking authorities were beginning, not only to isation after the recent trouble.of heaven, and recorded

in practice to offer fire insurance in combination with burglary, ncci realize the dormant wealth in Chinese territory, but also the im that Moreover the new sources of re-that is viewed with keen disapprobation by exports

ntrado in the...natural products of opening up. venue have not come up to the naval and commercial circles. It would be idle to ani- dents to domestic servants under the Workmen's Compensation Act, perative need of a full service of communications for the purposes

This seems to a useful combination,

travellers have, time and timo again, described in mark

Had the madyort at length on the proposals of the Declaration of and plate-gloss lonkage. as expected.

London; it would be equally futilo to indulge in speculations as to especially to the ordinary shareholder, who is thoroby enabled to loans been issued for the purpose of meeting the cast of the local the why and wherefore of this astonishing action, and the only chance obtain insurance against several risks under one policy, payable by books on their sojournings in the land of the celestial. It is in administration, he would have of relief is that they have seen some virtuo whore none was pro-the same premiun and renewable on the same date. In some in keeping with this policy, of doveloping China for the Chinese, that stances, the companies offer a policy covering four risks incidental the government should take steps to train the youth of the Empire put an item to that effect on theviously found to exist.

Passing from this to other questions, a ray of gladsome light to domestic life-fire, burglary, glass breakage an accidents toto fill the important positions, that are now occupied by Europeans budget, and placed the mattor before the inembers of tho Provin seems to have sprung through the dark clouds of unfortunato decision. domestic servants--at an inclusive rate of fivoshillings par hundred drawing larger salaries, than a Chinese in the same position would cial Assembly for consideration. Though they have made, wo submit, in our opinion "un faux pas" as re- pounds upon the total contents of the house. The interpretation do. As Japan is doing so China will do, and as the former are gardsthoforeign policy of the Empiroin or direction,they have evolved recognised by the companies in rolation to such policies appears gradu ly ousting their European teachers, and replacing them with a businesslike doctrine in another. That commercial treaties affect to be sufficiently liberal. The term "burglary," for instance, signifier Japanese, so will Chinn, Cous quently in the future, the near POLICE COURT.

ing over sous dominions should be so secured as to permit of their burglary, housebreaking and larceny, including thefts by servants or future, many positions will be open to Chinese candidates trained in withdrawal, if and when any dominion desires, is a principle that other persons lawfully or unlawfully upon the promises. Glass break-evil, mechanical, mining and electrical engineering.

In pursuance of this policy of developing China for the Chinese has airontly gone too long unrecognised, and it is pleusing to note age is applicable to all the fixed plate and orumental glass in the the Board of Communiontions his established colleges, the three that a little water has been found in a thirsty land,

house, inclusi voof window 3, doors, faulights, mirrors in sideboards,

Friday

Before Mr. J. R. Wood and Mr. F. A. Hazeland.

Theft of Mineral Waters.

four winds

#1

Clerks to guardians and other public bodies Collectors of taxes

Local Government officials...

Clerks and cashiers...

Secretarios and managers ...

Executors-lative, administrators, efe, Travellers and collectors...

Collectorauf rates

Agents on cominission...

Per cent. from

s. d.

4.0

***

50

76

10 0

10.0

10 0.

10 0

,

25 0 30 0.-

CHINESE TECHNICAL EDUCATION.

(20th June.)

The conference has passed. Four more years must olapso bofore wardrobes and, overin intels As regards accidents to domestic:st important of which are at Shanghai, Tientsin and Tongshan. the August assembly sits round the board at the Foreign Office, servants, the insuring householder is relieval of all auxists Tee schools have been said to be excellent, by competent authori- tias, c'ugh the torm is merely enparativo, because, though they four years full of possibility for god or evil. Meanwhile, we must sit and warry wintarer, as the companies tike over the votre ched that stage of efficiency which is necessary. for the by and watch a pornici us international agreement become law, dust and control of any actions that may be brought mul A Chinese clerk in the employ of must see our shipping placed at great disadvantage and console bear all the ciscansated with them. In recent years, however, ourselves with the crumbs of comfort that at loust the Arcana Im- the most striking, innovation that appears to have been made in Mess, Watson's, Kowloon, wesperti have been laid bare. The results have been disappointing, the matter of fire insurance is the home for in in profits after a charged with stealing 24 dozen Much that we luiped for has gone, we have no wireless, wo are ox-fire. Where a business is brought to a toil stoppe for the time

Monday last, cluded from the Empire chain of stations, and we may grumble, but being through fire, the merchant or manufactu or (the 180 m the property of his employers.rar complaint, like the crying of a child in the desert, will pass boy would by insuranco have covered his loss of profits by a polies They wore valued at 25 dollars. unheeded, especially by those who have seen and appreciated the drawn upon the basis of his annual turnover and not gain. When

A money changer was charged mysterios of Arcana Imporii. along with the first defondant with receiving the mineral waters knowing them to have been Ntolon.

mineral waters

CHINA'S RAILWAYS.

(26th June,)

training of good engineers, they are sufficiently complete in equipment stitutions in other countries, taking, of course, everything into consi- and capability of instruction, to compare favourably with similar in-

management. China is putting on a new garmont; it is exchanging deration. The difficulty at present seems to be the present system of the "cheung sham" for the Western coat, and the change is at pro- sent uncomfortable. Members of the old school of learning are finding it difficult to get into consonance with Western ideas, and until new teachers, imbued with Occidental precepts, are ready to step into their place, and take control, the scholastic machine must necessarily contain incongruities which will tend to its inharmonious

we consider the matter in all its bearings, such a schems is but the natural completion of ordinary fire insurance, yet it is only within rocont yours that it has come to be recognise I as a highly important branch of the insurance companies' operations. These are only a working. fow of the Intor developments of insuranco business. The likelihood is that insurano against risks will yet extant indefinitely into evory dopirtment of daily life, labour and enterprise. In those lines we believe England not only leads but is far in advance of all other

THE GLORIOUS FIVE HUNDRED.

(28th June.)

J

CURRENCY REFORM.

(30th June.)

Nevertheless, the signs of the times augur well for young The Chinoso government has practically pledged itself to the

China. It has been said by many writers that the rejuvenation The first defendant was allowed hit on a bail of 100 dollars und nationalization of the Canton-Hankow and Szechuan-Hankow Rail

such S a religion, which has some great boaring on Wednesday and the second de-ways, by an Imperial Decres of Jane 19th, which clearly outlines the

of the Orient cannot come about, unless some moral force, Tondnut on a 25 dollara bail. policy to be adopted by the Government with regard to these most countries.

ovoryday life, comes into hoing. We prefer to believe, that necessary moans of communication. The history of China's railway

proselytising is not a necessary adjunct to Oriental awakening, but. that the imperative factor is the casting asido of old trains of thought UNCLAIMED TELEGRAMS.devolopment has been unique. In the first plage, iustond of dealing with the undertaking as one complote whole, it was divided into asi

and the assimilation of new idons, idens which have tended to the prosont industrial excellence of the western world. We cannot blame The following is a list of un-any parts as provinces, through which it passed, the governing body in auch being responsible for the duo execution of their part

The coming month will probably see a dimax in the jolitical | China's desire to do without the stranger in her gates. It is a sign of claimed telegrams lying in the of the construction." Nor did this strange method end høre, for each Eastern Extension Australasia & individual district, was required to find the money for their part of the affairs of the mother country, and some of those, who profess to know, real progress that she is anxious to walk without the continual support China Tolograph Company's work. That any progress was made at all under those circumstances is say that a cal election will come, before the arrival of of European nurses, and that she will be able to do so, and build up Whether that be so or no, time alone will tell, an extensivo commeren, is no occasion for alarm but rather of rejoic office at Hongkong:-

traly surprising, but the fact remins that some work was done-August. Arnhold, Stanley Pacific Mail how, we can hardly yet tell. That it was done extravagantly no one though, it must be confessed, there are large clouds upon thing. We have yet to learn that the industrial progress of the west horizon, which seem to augur a stormy period for the party now was a menace to the competing uitions, and by analogy, if in the Lino Office, Chicago; Chiongche can doubt, for rumour to that effert, and well authenticated or in power. To day while the Commons are discussing the Declara-latter hemisphere it proved a good thing, surely in the east it cannot san, Samarang; Lawtichoon, 221 that, has been alkat for months. It was untural that the Poking ton of London, the House of Lords will be working their pleasuro | fail to do this name. Hollywood, Batavia; Bokye, Ran-Government should become cognisant of the facts, but pornliar that

on the Voto Bill, on which they will be in the committos stage. The goon; Portugal, Ponang: Sands, they delayed taking action so long. Macao; Shunelioong, Nundinh;

The government's action for the remedying of this chaotic state hand of the Government is to be forced. That has been decided by Stoppani, Astor House, Milan; of affairs is at once drastic and excellent. It will resume possession e Unionist loaders, who, in solemn conclave, rosolved to insist on Tchichong Hon Marche Central, of the railway and present shareholders will be allowed to exchange their amondments to the measure, so us to force the party in power

Students of history will doubtless lavo noted that all the nations their shares for Government Railway Bonds, bring at the rate of to disclose their position with regard to the threat to create live Pnompenh; Taitong, Singapore; six per cont. per annum.

In this way the construction of the hundred peers, to secure the passing of the Veto Bill, through tho Toylung 120 Connaught, San line will be expedited-at least it is loped so, though it would be upper house. That was the decision come to at a meeting of the have had what might be termed parallel histories; each in its turn sooms to have trodden the same path in the plains of time, to have Francisco; Tuongshin per cent. foolish to be too sanguine and much of the unnecessary expense opposition leaders on Wednesday last. Wangfutyuon, Bonliam Strand,

The position at home resolves itself into one simple question. encountered the same obstacles, and to have passed the sama mile Port Darwin; Wagonslits, Singo-

will be curtailed. The shareholder's interests seem to be adequately pore; Yuonchan, Saigon; Yuon provided for and these, who do not care to exeliange into the Are the Taberals going to carry out their threat to create the stones. In this respect it will be remembered, that practically overy Yiot, Torroon: 0006, 5883, 2837, government security can sell to the authorities at the rate of 60 por glorious five hundred They have got to answer the question country has had trouble with its coinage, from the times, when Sparti 3932, Tiontsin: 0678, 13-44, 0361,

Cont. ad valorem and the balance of 10 per cent, after the expiration of soon, for, by the end of the wook at least, the intentions of the temporarily solved the question of the provision of valuo tokens, by 0074, Macno; 2837, 3032, 1382 10 yours. In any event objections of shareholders will be simply a Unionist Majority in the House of Lords will be plainly manifest. steel, which had been rendered useless by quenching in vinegar, when mattor for equitable arrangement as far as possible, for it is the in fact they are so now if the notice that Bird Lansdowne has given red hot, to the stage in England's history, when kings purposely de expressol deformination of the Government to resume control of what as to amendments, is any eritorion, but it still remains to be soon hasol the coin of the realm. Time was, when England's coinage wes if the whole party, to a man, are prepared to see those proposals minted in different places, and when the weight and purity of the is, and always should have boon, a national undertaking.

we remark that the carried out. The amendments which, the noble lord has put upon coin was the only criterion as to its value. Consequently there was Departure of Coronation Quests. It is rocalling old history whon

a. chaotic The American delegates, who builders of the tower of Babel failed because of want of unity, the paper, are of a most drastic nature, and if they are considered it a time when commerce was merely barter, and coinage a thing ur cams over from Manila to be and it is quite conceivable that the construction of the will be seen that their acceptance by the Lower Rouse would mean known. England's trado was at that time in prosent at the coronation colo- Chinese railways would have been still merrily proceeding till the that much of the power that the bill was to have given to the state, and, though, owing to the universal use of the brations, and were guests of the Trump of Doom, had the present system continued for exactly the Chunmone bad bean taken away, and that the measure would be Spanish doubloon, trade progressed in Elizabeth's time, it was not Governor and II. E. Major samo reason. Authorities have leon at cross purposes, delay and worth hardly the paper it was written on so far as the party in power until Cromwell established once and for all the purity of British Genoral Anderson, leave Friday always dolny has been a marked characteristic of constructional is concerned. To put it briefly, if Lord Lausdowne's amendments coinage, that the trade of the little islo mundo huge strides to the in the Zafiro for Manila. It will mothora. Naturally chaos was the only outcome, money was being are carried, the Commons will find their bill in such a badly unauled present state of prosperity. Given such a preamble as this, we claim be remembered that the party frittered away, and the end was no more in sight, than when the condition, that the powers they have been striving for will have that industrial progress is due to a standard currency and that with composed of Brigadier-first length of rail was laid. At the same time Chins is taking a dropped from the altered measure. Supposing for une instant ont it, the ceaseless nuisance of a varying oxchange would greatly Turning to Chins, we find our assortion justified. To begin with, General and Mrs. Pershing, the most courageous step, a stop that may lead to much good or a plethora these alterations were to become embodied in the moneuro and the liamper business of any sort, Hon. Mr. Elliot and Mrs. Elliot, of evils, whose name will be legion. Should she control the railways other provisions to remain as they stand. Dospite the fact that Capt Holmes, Lieut. J. P. Swift, in an able manner, on linos similar to those adopted in western coun- the bill would then provide for the passing of certain measures by the dollar piece is worth slightly more than one hundred cents and Dr. P. C. Frier, Col. J. L. Cham-tries, they will be a great factor in China's industrial progress, but the mere flux of time, limitations, and large limitations at that, the game divergence exists between the cent and the cash. That i berlain, and Mrs. Chamberlain, should it be a subject of maladministration, & millstone will have would be placed upon such questions as the existence of the Crown, itself is bad for internal trade, but for international commerce ilik protestant sucosesion, and the establishing of national parliaments, decidedly worse. The value of the dollar, owing to the absence of Mr and Mrs. Charles Dorhamn und boen tied round the nock of the Empire's economic development unless approved by a special joint committee, which would to all a gold standard, is hardly slas sarge for a week on end, and this back Capt. Looke,

which will crippla it for many decades.

Tientsin.

was

#

Page 10Page 11

TIB