THE HONGKONG' WEEKLY PRESS AND
witch lie
was an
[March 28, 1895,
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THE ATTEMPTED ASSASSINATION attempted assassination of the present BERT SPENCER's doctrine that the high- Crar of Russia when as the Czare est altruism te the highest egoism and OF LI HUNG-CHANG.
honoured national vice versa,
The policy of Great Britain guest, the assassination of Viscount MORI, is not to kn, the nations in darkness in and the attempted assassination of Count order that pley may be compelled to buy O'KUMA. The apshi have not been guilty from us, as to enlighten them in order that of such diabolical outrages as the anarchists they masoyuy more abun lantly. But even in some European countries, but tline exist if it werpolisirable to keep the Asiatic natious ence is undoubtedly a blot on the fair name stationariabimetallism would be ineffective of Japan. It is unfortunate that the blot for the purpose. The effect of the adoption should have been brought out so plainly at a of that system at the old ratio would be, crisis like the present.
not an enhancement of the cost of pro. duction in silver countries, but a rise in gold prices. At least that is the effect some at all events of the bimetallic party desire. As Mr. SCHMIDT expressed it at the meeting "What of the Royal Colonial Institute,
Europe required was a higher level of Now a higher level of gold prices in Europe, silver prices in the Far st remaining the same, would not retard the development of manufacturing industry in the Far East, for the conditions in the latter would remain practically unaltered.
The attempted assassination LI HUNG ORANG at Shimonoseki will be keenly regretted by the Japanese Government. Special pre- eautions had been taken to prevent anything in the nature of a hostile demonstration. At Koji and Bokan, we learn from Kobe papers received yesterday, the Peace Preservation Law had been put in force for twenty-one days, commencing on the 18th inst., and un the actual scene of the negotiations no doubt everything that could possibly be thought of. was done to prevent any lawless act that could annoy the Chi- ness Minister or dishonour the reputation of Japan. By the Peace Preservation Law the Police are provided with greatly increased powers; nothing can be published without being submitted to censorship, nor can any meeting, however small, be held without giving notice to the police; it is illegal also to carry word-sticks or any weapon of offence unless permission be specially granted, and all strangers are subject to police supervision. It would appear, however, that some young lunatic of the soshi class has succeeded in evading all the precautions taken and has inflicted a wound upon the Chinese Envoy which may prove fatal. It may safely be affirmed that no single event in the whole history of the war has caused such pain to the Mikado and his respon- sible advisers as this mad attack on the veteran statesman who had come from China to sue for peace.
It was believed by foreigners in Japan that it was not intended the peace negotiations should have a success. fal issue, that some pretext would be found for breaking them off, and that Lr would hare to return to China as unsuccessful as
NOW
THE SILVER QUESTION AND INDUSTRIAL DEVELOPMENT IN THE FAR EAST.
*
t
The rupture of the bimetallic tie was one of the greatest follies ever perpetrated in the history of the world, and the re-establish- ment of the tie is now the most pressing need of commerce. It is well, however, to form some clear conception of what would be
The Hon. T. H. WHITEHEAD's paper on the silver question, read before the Royal" prices." Colonial Institute on the 12th ultimo, dis. business insight and played the keen thorough grasp of his subject which al- ways characterises the writer. He showed how British goods in this part of the world were being supplanted by Indian aud local manufactures, how the closing of the Indian mints had offered a further bounty to manufacturing enterprise in China and Japan at the expense of India, and how even the European markets themselves are threatened with the competition of goods from China and Japan, which countries Mr. WHITEHEAD considers have a vast industrial future before them. The views expressed by the hon. gentleman are for the most part those generally entertained by Europeans in the Far East. Yet there are one or two points on which we should be inclined to join issue with him. He says, for instance, that "although the transfer of some of our manu- "facturing industries to Oriental countries, "where the conditions are suitable, might
看看 at
"nevertheless, true that but for the great divergence between gold and silver, and "the inadequacy of our monetary system, "the transfer would probably have been de- "layed for several generations." Is this really probable? Can it be supposed, even if the silver question had never been heard of, that an enterprising, intelligent, and pro- gressive nation like the Japanese would have gone on buying from other nations what
accomplishe 1 by bimetallism and why it is desired.
Any idea that the progress of one country could thereby be retarded for the profit of another missed
may be dis- altogether visionary. What we want, and what would benefit all countries alike, is a stable medium of ex- change. A measure of value is in principle very much the same thing as a measure of length. It does not make any difference to the value of a piece of cloth whether it is sold by the yard or the mètre, but if trade is to be conducted on a healthy basis it is essential that it should be known what the standard of measurement is and that the standard should not vary in length from day to day. It is the same with gold and silver; the trade of the world is conducted partly in one metal, and partly
in
the other, and it is unportant that their relative values should be fixed as precisely as the relative lengths of a yard and a mètre. What the ratio may be is a
to special and temporary interests for trade would in the long run adapt itself to any ratio that might be decided upon, but that a fixed ratio is desirable seems so self-evi- dent that it is surprising any one can be found to dispute the proposition.
AMALGAMATION OF THE OFFICES
OF COLONIAL SECRETARY AND
REGISTRAK-GENERAL.
his predecessors, for Japan is not sooner or later have taken place, it is, present in a bumour to stay her victorious march whatever terms China may offer." But if it was Japan's policy and intention to bring the negotiations to nought it was the more important, if it be allowable to use the comparative degree in such a matter, that there should be no failure in treating the Chinese Finvoy with personal courtesy and consideration, for a contrary course would be calculated to alienate the sympathy of the foreign powers and to damage Japan's they found they could make for them-matter of comparative indifference, except just claim to be admitted to the comity selves ? of nations on an equal footing. And As Mr. LESLIE PROBYN said in the course the discussion which followed the a hairbrained youth has shot and of
of When full reading Mr. ll-nigh killed the Envoy.
WHITEHEAD's paper, of trade are particulars of the unfortunate affair are commodities in the course received it will be found, we doubt not, that changed for each other, and not for the gold the Government failed in no point of its and silver by means of which the changes duty. Attacks on distinguished strangers are effected. In the long run trade would ratio may take place in any country, and, indeed, adapt itself to any standard and to any there are not wanting instances in which between different metals. Sudden changes ven monarchs have been the target of are of course disturbing, and when they uld-be assassins while they were occur a temporary advantage may be given th
guests of a foreign court. Such to one country at the expense of another. |
must always be event
the cause England and all other gold monometallic of detap pain to the country where it occurs, countries have been for years past suffering but there are reasons which will make the from the impediments thrown in the way of attack on LI HUNG-CHANG specially painful their trade with silver countries by the to the Japanese Government and nation. divergence between the white and yellow Throughout the war there has been a metals and the consequent uncertainty of ex- conspicuous desire on the part of Japan to change; but, granting all that, it nevertheless conduct the operations according to the seems to us a fallacy to suppose that the readop. strictest rules, of civilised warfare, and the tion of bimetallism in Europe and America
we should have been soldiery have, with isolated exceptions, would permanently or in any material degree
see Mr. STEWART LOCKHART loyally acted up to the standard set before retard the development of manufacturing
the footsteps of Sir CECIL them, establish thereby a reputation industry in Japan, China, or Asia generally follow in for humanity th to has been a source of As soon as a savage or semi-civilized nation SMITH and rise in the service through the surprise to mangaly feervers. The unfor- begins to wake up and adapt itself to the Colonial Secretaryship of another colony. tunate attack on LimanG-CHANG, however, ways of ether nations, it is only a question That is looking at the mitier from a purely On personal serves to remind us in ] as unpleasant man of time as to when it will begin to make impersonal point of view.
que will be glad that ner of the existence of thit dangerous class things for itself that it has hitherto been grounds every the soski, in which patriotism and vanity accustomed to buy from others. But, as it such a popular officer is to remain with us. run into what is little removed from simple does so, it develops new wants, and its trade The Secretary of State has conferred the sayagery, breaking out as it does in such with other countries continues to grow appointment of Colonial Secretary of this outrages the one
under notice, the instead of falling off. It is like HER-colony upon him, and though we may be of
The Hon. J. H. STEWART LOCKhart, who has been promoted to the office of Colonial Secretary, is a conscientious and energetic officer and his services well merited recogni- So much must be admitted even by tion. those who, like ourselves, doubt the wisdom of selecting the incumbent of the office of Colonial Secretary direct from the ranks of the local service. It would be well, we think, that the holder of that important office should have had experience in more than. one colony, and glad to
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