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442
Augant 23, 1999.]
CHINA OVERLAND TRADE REPORT vas in accordance with that. view that the colony was kept bare of the necessity small change.
portance with which the Committee had
The question, of more immediate,
to deal was that relating to the Chinese.
Tere ofther Briciski territory or were, under the control of the British Govern ment.
Originally the, policy' of "the Companies was on, broad international; “Tints, but during the past few years this
policy had been somewhat modified" meet the demand für, special oæbler for small, coins with which the colony is now. ** British traffic; and recently they had laid down new cables from England to Al exandria, touching only at Gibraltar and 'Malta, at a cost of £442,000, in order that "no British traffic should transit foreign territory, leaving their cables from Mar- sailles to carry the French and other “foreign traffic." From a political point of view this is highly satisfactory, as it gives through communication with India and the Far East by British lines touching only on British territory. But having these special cables for British traffic, and being thus in an independent position, how can the Com- panies claim that they are prevented from lowering their rates by Foreign Govern- ments? There is the International Tele graph Convention, it is true, but if the Cable Companies were willing to accept lower rates the other signatories to the Convention would not be likely to raise any objection: Moreover, the Convention is subject to periodical revision.
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THE SUBSIDIARY· COINAGE QUESTION.
{
S
or prohibition of the import of The Committee say that the
coin from the Canton mi
pipractionbib:*
If the tenderi coins were made,
•
opinion,
enal offence the”?
Some similar action, if we are not mista
very soon disabre". PROTATE META
has been taken in the Straits Settlem554) with respect to the copper currency. The question is whether the alleged evil sufficiently serious to call for suöll « dri remedy. If prohibition were decided enforced by making possession of the punishable offence it would not be i to fine or imprison the whole one or two examples would suf when the prohibition had heap” made tive and the Chinese coins had disap the colony might possibly flud los had simply involved the public perpetual inconvenience,
We agree Mr. WHITEHEAD. that the report mi with advantage have gone further and shed some light upon a vexed and question. The whole matter, seems to re-* solve itself into this; the public requirer a certain amount of small change and i goes the market in which it can obtali-it, on the best terms. If it were made worth the money changer a a while to o keep. Hong kong coins in stock he would readily" 48" but he is allowed no profit, on those colla while on the Canton coins be makes an ap preciable percentage.
THE DEFENCE OF HONGKONG
fooded. A very general desire, has been. expressed that the circulation of these cains, should in some way be prevented, and their place be filled by the colony's own suba diary coinage. This desire, however, does not seem to be sufficiently strong to induce people to go to the trouble of obtaining Hongkong coins when small change is re- quired. This little question of trouble in, fact to a great extent explains the secret of the preference Chinese coins enjoy. If any one wants ten dollars worth of small change he can give a ten dollar note to his shroff or boy and in a quarter-of-an-hour his require ments will be filled, but in Chinese coins. If on the other hand Hongkong coins, ure wanted a long, process of red tape has to be gone through, In the first place a written, application has to be sent to the Treasury, upon which an order upon the Hongkong and Shanghai Bauk is given, and when the messenger is sent to the Bank the pro- cedure there appears to be such as to detain, him for a considerable period. What won- der, under the circumstances, that Chinese, coins are preferred? They readily pass cur- | (Daily Press, 21st August;);
rent at their face value except at the Go- The report of the committee appointed by vernment Offices, and one or two large es HE the Governor to enquire into the tablishments where ten and twenty-cent subsidiary coinage, question possesses the transactions are not very frequent anyhow, qualities of bravity and terseness, but it and if by chance a small cash payment has is not altogether a satisfying, document. to be made to them a dollar can be tendered
(Daily Press, 25th August.) The Committee have passed resolutions to and the change taken in small coins, the
"It is refreshing in days when so many mis. the effect that an ample supply of Hong-receipt of which is usually considered a cop the United Kingdom and elsewhere on statements are maile in the public Prece In kong subsidiary coin should be al
always-kept venience.. in the colony, and that in view of the fact It is said that the circulation of the sound and sensible nu appreciation
matters affecting the Far East, to findude! that Hongkong subsidiary coin is the only Chinese coins, involves shopkeepers and position of Great Britain in the Fat legal tender restriction: or prohibition of others who receive large quantities of them that enunciated by Mr. Anskis Kraubon the import of: súbsidiary coin from: thes in a substantial loss, and it may be so, but in a recent article published in the Clanton; mint is unnecessary and, in the in that case it is singular, the chair coolies|Mall Gazette. This article deals Committee's opinion, impracticable. This accept them, so readily; they are entitled to expecially with Hongkong as being the'n ~ report is signed by the Hon. A. M. legal coin, and it is certain that they would important outpost of British influence, THOMSON, Sir THOMAS JACKSON, Mr. J. not accept any other unless they knew there at the British public have not yer gene THURBURN, and Mr. B. M. GRAY The could get the same value for it, and it is ally come to recognise. An few morte mich Hon. T. H. WHITEHEAD, Riso a member of equally certain that the shopkeeper would articles as that of Mri› KHäuser, the Committee, does not sign the report not give as much for a Chinese ten cent panied by illustrations, may perlaps but minutes "I agrees to the resolutions piece as for a Hongkong, coin if he could to convince British readers of what ***but think we should go further." The not in his turn pay away the former on the mount importance to the maintensines hon: gentleman gives no indication of the same terms as the latter. This was exemplifies British prestige, and the preservation direction which he thinks the reporting some years ago when the market was flooded British trade is the retention of this should go further and seeing that on both with Japanese coins; these, not being legal chign of vantage in these Eastern seas, RINKI great į the points touched upon the resolutions go tender, fell to a discount and the chair and also to bring home to them the vital450 to the extreme it is to be presumed that risksha coolies, thereupon refused to have cessity that exists for placing it in a position what he means is that something in anything to do with them and insisted so to defy attack and dominate) if need be, thel _the way of historical summary and de cording to their right, on being paid in provinces of Southern Chiting Mr. KHAUSOR.. tailed statement of the present position, in Hongkong coins. The result was that the though in error in some particulines «för we i short, the reasons on which the resolutions Japanese coins were very soon withdrawn cannot agree with him that the Chintườn are based, should have been given. This and they are now seldom met with. How could at anytime have retaken. Hongkong would have been interesting and probably is it, then, that the Chinese coins are main also useful, and it is to be regretted, we tained at par? We think some explanation think, that the Committee has not supplied ou these points might reasonably have been in As: to the bare resolutions; however expected from the Committee in their they go as far as they can. In the fires it report. Since the Committee has failed to is recommended that an ample supply of give it perhaps the Government might Hongkong subsidiary coin be always kept with advantage-call upon the Colonial in the colony. That recommendations will Treasurer to make a departmental report be endorsed by everyone in the colony, and on the subject. This might be brought premimably the home authorities must also:||about by Mr. WHITEHTAD: asking aɛɛ serias: by this time have become convinced of its of questions in the Legislative Councils wisdom; though somen years ago they were From the published correspondence it wilt filled with alarming forebodings of future be seen that the hon. gentleman asked Mr. financial disaster to be brought about by THOMSON for some information while the the subsidiary coins which have passed into enquiry was in progress that the applica circulation in China being thrown back on tion was passed on to the Government; amli the colony and falling to a discount. To that the information had not been supplied personas with local knowledge this seems up to the date to which the corespondanos para; nonsense, but it was the view held extends The subject is off sufficient im andusolemnly, enunciated some years ago portance to warrant a folk statement of the:
position:
1.
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has on the whole a good grasp of the situation Hays “For fifty sew
ear we held the island by thế giớc ở the Chinese, who at any time could have heights of Kowloon; and now that "destroyed the city of Victoria from the have Required a portion of the Pentueet ", which might threaten the Br
we have neglected this most obviou guards necessary to our well-being? while the island of Hongkongi: in Bei territory pure and simple, the "Peninsula is held under
ritor
KRAUSE appears to be unaware that that portion of the generally as the Kowloon Feat cerveck to us if perpetuit veation of 1860 but sa thài at Hoes not affect the s pfiche newly acquired ter
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