be
CHINA OVERLAND TRADE REPORT.
besh a falling off in arithmetic, but the questions Bimetallic League by Mr. Guo, Jamieson, Mr. were more diffenft than usual. The grant is 23 W. II. Talbot, and Mr. H. Kopsch." Is it not per cent. more than last year and is the highest enough to raise a smile on the countenance of an the school has ever carded. This is in part due anthropophagist ape? Of course Governments to the new code providing an additional seventh | do not close their eyes to facts, but cau anyone standard, but chiefly to the interest both boys imagine them opening their eyes to these papers? and inksters have taken in their work and their Has anything yet been written by the Eastern determination to maintain the good name of the Bimetellia League (of Shanghai) which can school.
taken up and laid down without the reader con-
· Twaddle." ↑ The boys have been regularly drilled by an temptuously muttering,
From instructor from the garrison. During the sum-President to Pecretary all are tarred with the mer they had frequent trips by steam launch for same brush-special pleading-and there is sea Bathing and swimming. Football and oricket not a fresh idea nor an original thought in are played on the piece of land assigned by the all their painfully constructed ding-dong. For Government as a playground for the West graciousness sake, Mr. President, for kindness Point schools. It is very small, and open to sake Mr. Secretary, tell us this. It may not each school only one afternoon and one evening have occurred to you, but is it impossible for you a Weske
to imagine, when all the torrible things you pre- Our best thanks are again dus to Hon. E, R. diet come to pass, when Western industries are all Belilina, C.M.G!! Rev. R. F. Cobbold. Messrs. transferred to the East, is it not possible for you E. F, Anford, D. Gillies, Ho Tung, J. D. Hum-to conceive that wages of labour in the East may phreys, T. Jackson. A: Mackie, W. Quincey, Gadvance? All your ideas at present are bounded Sharp, for kindly contributing the prizes.
SCRIPTURE EXAMINATION—January, 195. I have again examined the boys of this school in their Scripture Lessons and am satisfied with the result. In the VII and VI. Forms the set portions of St. Matthew's Gospel and the Acts were well done. Form V., with a few exceptions, wrote their answers to questions on the Gospel intelligently. ↑ Forms
by the limited horizon of no decline in wages in the West, no advance of wages in the East; for should wages in the West decline your alarms would be grounds. What was the price of labour in the West before 1848-1850 ? What caused the price of labour to advance? A flood of gold. | The flood of gold continues. Is then the price of labour likely to derling Nyor has no como III. took the the East. A flood of silver has or has not com- stories of Joshua, the Judges, and nth, and mehed. I do not know, which, but from the showed that an interest had been aroused, though bewailings of the Eastern Bimetallic League of a fów papers were weak. Form II. and two boys Shanghai something seems to be wrong with in I: answered well. There is evidenc of careful silver, either too much of it, or too little of it. teaching. The great difficulties (to many boys)]f they would but bring their theories down to of a foreign language are heing gradually over-practice, their great minds down to the level of coms, but there is much yet to be done. The our little minds, and iustsad of abusing govern- repitition in the lower school was on the whole ments for not reading their publications, ex- good.—R. F. COBBOLD, M.A.
plain whether there is too much silver or too little silver, many would be grateful. As the OTFORD University, Local EXAMINATION cade presents itself there seems to be a
cer -Juniors : —T. Benning, W. Burns, S. Elphin-tain number of men in Shanghai who have stonë, J. Gubbins, A. J. Mackie, II. R. C piled up a certain amount of silver, which Mööré:
they want a certain other number of men on the other side of the globy to give them a great deal more gold for than the certain other number of men consider it to b⋅ worth, and be enuse the certain.ether number of men on the other side of the globe do not fall in with their ideas the Eastern Bimetallic League of Shanghai is very angry. But apart from their petty local boards it does not seem as if there was too much silver,
PRIZE LIST.
Class Prizes. VII. Standard. 8. Elphinstone; VI. Standard. E. 8. Ford; V. Standard, Ul-chi IV. Standard, Li Cheung-kan; III. Standard J. Olsen; II. Standard, Fan Kau; I. Standard Ying Mök fat.
Special Prizes.—VII Standar, Scripture, and Physical Geography. W Barus; Mathematics, 8. Elphinstone; VI. Standard, Scripture and Mathematics, E. 8. Ford; ▼. Standard, è crip- ture, 8. M. Gidley; Mathematics, U. Haya sahi TV Standard. Scripture. E A. Sheffield; Algebra, E. R. Herton; Euclid, ang Ming- him; III, 3tandard, Scriptare. C. E. Hastings; II. Standard. Scripture. Hans Moore.
Babd-Files, G. Benning; Drams, A. C. Eiroks.
Good Conduct, R. H. Kotewall,
BIMETALLISM.
(COMMUNICATED.)
It would b's difficult to conceive
aud
694
PUNJOM MINING CO., LIMITED.
The adjourned meeting of the Panjom Mining Co., Limited, was held on Monday at Connaught House. There were present Messrs. J. Orange (Chairman), D. Gillies. Gao. Fenwick, J. H Lewis, R. Shewan (Directors), A. O'D. Gourdin (Secretary), S. B. Bhabha, Capt. Tillett, Geo. Murray Bin, G. C. Cox, R. Fraser Smith, W. E. Clement. P. S. Daver, M. B. Polishwalla. R. Cooke, J. A. de Carvalho, W. H. Ray, F. Schwarzkopt, G. C. Anderson, E. Burnie, H. C. A. Harris, J. S. Perry, Geo. Holmes. R. Mitchell. E. 3. Kolly. D. d'Aé Silva, J. Kirkwood. A. Johnston, W. Shewao, F. E. Ellis. J. Meier, T. H. Hohnke, O. Wegener, A. G dos Remedios, J. H. Cox. J. M. E. Machado, J. R. Michael, R. C. Wilcox.
The CHAIRMAN-Gentlemen, the object of this meeting was to have been to take a poll of votes for or sainst the report and accounts sub. mitted by the Directors. A great number of proxies have been received, but I wish to tell you that with the exception of two these proxies are invalid. · Apparently the gentleinen who sent in these proxies were not aware of the Or dinanoa lately passed the Stamp Ordinance- which makes it imperative that every proxy shall state on it the mosting at which it is to be used and that it shall bear a two-cent impressed stamp The Board of Directors now holds proxies and votes for about 13.000 shares. A latter was sent in on Saturday, which informed the Board that the opposition to the report was not directed against the body of Directors, but was directed against me personally. (Mr. Fraser Smith-ear, hear). Therefore, I will state at once, in order to save time, that I am going to resign-(bear, hear, and applause)—so if I put the report to. the vote I hope it will be carried. 1 beg to move the adoption of the report an balano sheet as submitted to the shareholders. Will any one secon 1.that ?.
|
how there possibly could be any too much silver in constries where silver is the currency,
he cheaper those countries can get silver, that is the fewer products of labour they have to given exelange for it, the bitter will it be for themi. If. then, we are on the eve, or as the begin ning, or even in the middle of a silver food it should go well with us, and if the wages of labour do not advance, the prices of commo- dities will not advance, the cost of living will unt bincreased, and people in the West who are starving in genteel poverty on a shilling can transfer themselves to the East and drive their carriage on the two bob their shilling will produce Good morning, T. Wood, Secretary; have you here. “Gis a new turn, Mr. Wetmore, to the used Pear's soap? There seems to be some dust proceding of the Eastern Bimetallic Lagur in your eyes or you would screely otherwise of Shaugh, crack, up the advantages of cheap have been guilty of such an editorial slip as this silver and make your pamphlets interesting by The ellver countries close their markets to the dilati g on the advantages of residence in the East. You will see by and bye that with cheap proactions of the West, not because those products are not wanted, but because th East silver the East must become more and more a cannot afford to pay for them. Not only this home for Huropeans, and who shall say that will bat the East Ends it oan produce the very things not be good for the East? Europeans that came from the West at a cost so cheap that throng your cities and raise house rents, dokt they can supply their own wants and ship the pete for domestic labour and raise your serv ats ever increasing supplies surplus to tha, West " And this is written by wages, require
and vegetables mont
the the President of the Eastern Bimetallio Leane (of Shanghai) Poor old Wetmore. Inbourer's hire, and these ner requirements Tue silver countries do not import the produc will so infiltrate and permeate downwards tions of the West, not because they do not want that those who were, in poverty before will them, but because they cannot pay for them, enjoy comparative afflueno, then and the Fast proluces the very things which pebble thrown into a poud produces ever widen cose from the West in sufficient quantity to ing ripples so will now desires, new surroundings, supply its own wants and have a surpins for export! The East wants things from the West bat
of cannot pay for them. The East produces those very things in larger quantities than it can consume them. The East imports from the West those things it produces cheaper itself. Did
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new ambitions flow over and leaveu the Eastern Aud with the influx of Europeans will come increased competition for the posts filled by Europe ins and increased competition in the trades carried on by Europeans, so that cheap silver will in the end level up or level down wages
in the East and in the West to the same common level.
esa duyone read such a farrago of nonsense ? "Gold Thau îb another part of his paper, monometallism and its effects upon wages," Mr. W. 8. Wetmore says :-" Governments The Shanghai Choral Society has been re- gablot telfor their eyes to the frets that hava | established and a selection from "The Messiah "
published in the papers of the Eastern is to be given in March.
Mr. FRASER Smith-I do not want to be inpleasant in any way or obstructive, but I am not aware that you are in order in asking any- body to second the adoption of this report, which has already been sent back by the vote of the
shareholders.
The CHAIRMAN-Then I will put it to the vote.
Mr. FRABER SMITH-If you have taken legal advice and can tell the meeting at the present moment that you are authorised to make the proposal, I will be satisfied. I object, for reasons I gave at the last meeting. The proposal I made at the last meeting has not been set aside, and until it has I do not think you are in order.
The CHAIRMAN-I do not know the legal view, but my idea is that this poll was called to confirm the decision of the last meeting- namely, the adoption or non adoption of this report.
Mr. GILLIES This is an adjourned meeting. and we have now the power to pass the report objected to.
Mr. FRASER SMITH-I respectfully beg to differ. I do not think you have power to rescind the resolution passed by the votes of the share- holders. It can only be set aside by a poll Thit, the Chairman tells us, cannot be taken.
Thỏ CHAIRMAN —I will take a polf. Mr. FRASER SMITH-You said every prosy that has been sent in, except two, are illegal.
The CHAIRMAN-No, I did not. The proxies held by the Board are legal.
Mr. FRASER SMITH-It is in the interes s of every man who holds shares in this Company to facilitate the progress of the Company in the best- way we can to make money. I have been nearly twenty years in China, working hard all the time. I am not a share gambler and never was; but I have invested a large sum of money in this Com pany upon information given me by Mr. Brodie and other friends, gentlemen of position. I have been holding on to the shares ever since. Many more men are in the same position and we liv relied on the statements made year after year of dividends forthcoming, and they have never come. I remember once making a statement in the City Hall to the late Mr. Becher, very nearly the same we are saying now. I objected to your report and accounts, and I object to them now,
and to ask any man now to second your pro posal to pass these accounts and report is beyond the pale of common sense. I have no desire to retard this meeting or to obstract matters in any way. I objected to Mr. Orange being Chairman of this Company before and I object now,
No comments yet.
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