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July 29, 1899.J
ties, will naturally incrense until equilibrium is re tored This is what is now going ou in China, where wages and the prices of commodities in general are steadily rising. Any temporary advantage that may be derived from a depreciating currency can weigh but lightly as against the permanent advantages of a stable medium of exchange. Such, at all events, appears to be the opin- ion of the Indian Currency Committee, for they argue in favour of a gold standard, and | advise that steps be taken to avoid all possibility of doubt as to the determination not to revert ton silver standard. It will be noted that the Committee are unable to recommend the proposals of the Indian Government as embodied in its despatch of the 3rd March, 1898. The essential points of those proposals were that ten crores of rupees should be withdrawn from circulation annually, that this amount should be melted down and sold as bar elver, and that the Indian Government should be empowerd to borrow up to £20,000,000. The object of contracting the circulation was to increase the value of the rupee by creating an artificial scarcity. Any step of this kind is apparently deemed unnecessary by the Committee, possibly for the reason that the rupee has al ready reached the value of 1s. 4., or possibly for other reasons, for if that value hd not been reached it would have been
́CHINA OVERLAND TRADE. REPORT.
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foreigners took in the business will "less be thoroughly enquired into various Consuls. You, however, “channel through which they, worl
st
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have ent in this Court as Italian
and it shows how extremely, dangerou
is that a man of your class should, "allowed to sit here as a foreign
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I do not know what your proceedings. have been in other cases; it is not my "business to enquire into that. As you "have been in the employ of a foreign "Government the Court is willing to forego, "sending you to prison, which is what you deserve. The sentence the Magistrate has determined on with my concurrene "that you be fined Tls, 100/and "ported to your native country, foreigners implicated were two.ɑinen of the name of HEIDENHEIMER, A Ger- man, and ATTIAS, an Italian, who are in business together and describe thems as merchants, while Attias also blai be a lawyer. Both men were colle witnesses in the case and they adm receiving $75, in consideration of which they were to secure the release of aman who had been convicted and sentence imprisonment. They failed, however, to do so, and the matter ultimately resulted“ în the prosecution of TM, the interpreter the Italian Consulate, through whom the money had been paid. The principal villain in the piece appears to have been ATTIAS who tried to bluff the Court by representing the business as quite an ordinary action. In reply to the Assessor he said "I have enough influence to take
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formed us that Mr. ALGER had resigned | "ATTIAS displayed when he was in consequence of the attacks made upon "Wednesday morning. The sha him. It is not difficult to imagine the disgust and indignation that would be felt and expressed in the States when once the country awoke to the real position of affairs in the Philippines. There has been mis- management of the grossest description, and the Americans, whom the natives were originally prepared to welcome as their deliverers, are now the objects of as fierce a hatred as that which was formerly enter tained towards the Spaniards. The latter were freely criticised by outsiders on account of the stringent press censorship that was maintained, whereby the public was prevented from obtaining a true view of the condition of the islands and of the events therein transpiring. But if the Spaniards were strict in their muzzling of the Press the American authorities have tried to be no less so, but the attempt appears at last to have broken down, as was inevitable where a free people like that of the United States was concerned, for it was certain that soon er or later the public would insist upon knowing the truth. With a change at the American War Office and under the whole some influence of a full statement of the facts and free criticism it is to be hoped that a change of policy will speedily follow and that the useless sacrifice of lives, both native and American, may be brought to an end by an arrangement honour- able to both sides. Aguinaldo's Go- vernment has stood out resolutely against the demand for unconditional surren- der, and in so doing has earned the respect of its foes, but the natives would, we believe, not be unwilling to accept con- ditions which the United States might well man out. Also by offering security offer without loss of dignity. The future "succeed in getting people relea government of the islands will no doubt be "have often arranged, such ma found beset with difficulties, growing from "Mr. Scorr." In rej ly to a further the initial mistakes that have been mailetion as to the average charge for by the American War Department and a prisoner out he said General Oris; hut to have to conduct au "generally a letter is written toug interminable struggle similar to the Achéen "peau, his good feeling is touched, war would be excessively irritating to the prisoner is released on his good beh Americans, and seeing that the attempt to Mr. ATTIAS further had the carry the business through by force has so to express the hope, the far been attended with such unfortunate of his evidence, that the Assessor results it would seem well to give negotia- satisfied with him, to which the
replied, "I will strongly, rocommend prosecution of yourself and Him "HEIMER." ́ ́ ́ It is mendation will be
upon; also ti Italian Government will not again all Chinese subject to represent it (supposed) foreign assessor in the Mis Court. The necessity of improving; th status of that Court has often been discussed, and it would seem that it is not alone on its Chinese side that it requires reformation. ***
possible to fix the rate of exchangeability at a lower figure, as in point of fact two of the members of the committee do, recommending 18. 3d. as the rate. The majority of the Committee, how over recommend is. 41, but they also say that existing conditions prevent the limiting of the amount for which rupees should be legal tender for some time to come, and they recommend that the Indian Government should not be legally bound to part with gold in exchange for rupees, but should make gold-vailable for foreign remittances whenever exchange falls below a special point. Silver rupees will, therefore, continue full legal tender for some time to come, but India will be a gold standard country. The position will be exactly analogous to that in France, where silver coins are full legal Lender while gold is the standard. It is expected that legislation to give effect|tion a trial. to the recommendations of the Coal- nittee will be passed immediately, and there can be little doubt that the effect of giving India a sound currency will be to greatly stimulate and facilitate trade.
(Daily Press, 28th July.) We hope it will not be long before Chiua A very unsavoury case was disposed of at sees her way to follow the example of India. the Shanghai Mixed Court the other day. Currency reform on sound lines would not
The interpreter of the Italian Consulate, a only promote trade, but would also go a Chinaman wearing foreign dress and with- long way towards helping the Celestial out a queue, was charged with obtaining Empire out of the slough in which she at money by false pretences, convicted, and present finds herself. Hongkong is appar-sentenced. The false pretence was that he ently determined to wait for hina in this was able to procure the release of a pri- question of the currency, but there are those soner. What makes the case particularly who think she would best consult her own nauseating from a foreign point of view is interests, as well as give China a helping that the prisoner had on some occasious hand by leading the way.
been deputed to sit as foreign assessor in the court in which he has now himself been THE SITUATION IN THE PHILIP. convicted, and that he was working in
PINES.
(Daily Press, 25th July.)
A telegram in the Australian papers states that of the United States troops in the Philippines, four thousand are in the hospitals, that the troops are discouraged and complain of being overworked and badly handled, and that there is a general outcry in the United States against Mr. Russell Alger, the Secretary for War, who is blame for mismanagement.
t. A Reuter's telegram of the 19th July in
AN UNSAVOURY CASE AT SHANGHAI,
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goted Ped the
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THE RACE FOR NAKAL SUPREMACY.
(Daily Press, 24th July.) *** In introducing the Naval Estimates Mr. GOSOHEN said that Great Britain wa bound to be equal in strength to anyt possible hostile Powers, but that it was league with two foreigners. Addressing desirable to enter into a race. the prisoner the Assessor, Mr. MAYER, Supremacy. • Noo doubt the right said :-
"It has been proved undoubtedly gentleman's remarks have suffered from the "that you have been using your official severe condensation, necessary in, a brief
'position as Italian interpreter to help two telegram, for as they stand they acom " very unscrupulous foreigners to obtain what illogical. If Great Britainsin bou “from this woman (complainant) a certaiuniaintain a navy equal in strength
sum of money under false representations, of any two possible hostile Po "by saying that they had the power to get the other Powers are" contin her husband out of prison, when you to their fleets, if follows that knew very well they had no such power. must continue to race, if she It is not the duty of this Court to dwell overtaken, and deposed from ther upou the rascality and low cunning which now holds. It is to be hoped that
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