June 22, 1901.}
But, after all, the whole point of the Chamber's letter was the serious damage to the trade of Hongkong from the pre- sent epidemic. The local Chamber of Commerce, we take it, has among its most important functions the protection of the trade of Hongkong, vit..lly threatened by the continual ravages of plague on this island. The ratepayers, from whom Sir THOMAS JACKSON thought that such a representation would more fitly come, are not purely commercial. They are all alike, of course, interested in the welfare of the port and in the sanitation of the place in which they live. This, however, does not by any means preclude the commercial community from having a special interest in the question of the Colony's health, and the Chamber of Commerce was well within its rights in ad Cressing the local Govern- ment as it did. Even the Chairman expressed the hope that the letter sent in might be productive of much good. We fail to understand, therefore, why any members of the Chamber should have been at pains to minimise its effect.
CHINA OVERLAND TRADE REPORT.
form capital in aid of production, and that in these circumstances the tendency to an
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THE CRISIS: TELEGRAMS.
[FROM OUR CORRESPONDENTS.]
SHANGHAI, 16th June, 5.57 p.m. is earnestly hoped that the usual retirement Yuan Shikai's mother died yesterday. It for mourning will be prevented, as otherwise absence of Yuan Shikai. certain calamity awaits Shantung, in the
SHANGHAI, 18th June, 7 p.m.
A military graduate named Tien Lo-siang has collected a large force of Boxers and
excess of imports over exports and con- sequent drain of specie must continue to "exist, and an adequate cash reserve can be "maintained only at a sacrifice of ease in "the money market, by a prudent limitation of the Government bank-note circulation "and of credit facilities. The flotation of foreign loans can afford only temporary relief in this respect, and bearing in mind "the improbability under the most favour- able circumstance of any but a quite gradual increase in wealth derived from resources at present undeveloped, it is evident that the palliative of borrowing is "one which should be resorted to with the
exodus of gold coin and bullion in 1900
greatest circumspection."
The actual
revived the financial anxiety with regard to the reserves in 1899. The reserve fund in
Shanghai, 19th June, 7.23 p.m. the National Baak fell steadily every month
An Imperial Decree orders Yuan Shikai at the end of January it was £10,851,700, to retire to the yamen at Chinanfu for one at the end of May £8,707,000, at the end of, hundred days. Meanwhile the Treasurer September £7,262,255, and at the end of of the province is appointed Acting Go- December 26,693,802. Gold coin and vernor, He is ordered, however, to consult bullion were exported to the value of Yuan Shikai on all important matters. £5,283,998 in 1900, while the amount introduced Was worth only £915,402. Most of the outflow went to India and the United States. Mr. LAY says: Before
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The reply of the Government to the Chamber's letter is very little to the point. Undoubtedy many reckless statements have been made in the correspondence columns of the local Press. People suffering under au intolerable state of affairs are not apt to pick their phrases, or even to stop short of exaggeration in presenting their Various departments of the Government, however, have not been slow to adopt sug- gestions conveyed in the "reckless " remarks thus put forward, so that the writers have at least the satisfaction of not having written in vain. We are told that the various matters discussed in the Chamber's letter have long been subjects of most anxious consideration by those whose professional knowledge and experience best fitted them to advise upon them." This being 80, resident in Hongkong would like to see some manifestations of this professional knowledge and experience. Such qualifica- tions cannot well be taken on trust. It is any easy matter for a salaried arm-chair expert to say he has been considering such steps, but if he does not take these steps until their omission has become a widely discussed scandal, he cannot complain that he is not the recipient of public confidence. A little initiative on the part of the Government would do much. But this was true at least seven years ago.
JAPAN'S FOREIGN TRADE IN 1900.
(Daily Press, 20th June.)
The report on the foreign trade of Japan in 1900, which was issued in London last month, is compiled by Mr. ARTHUR HYDE LAY. It opens by pointing to the check upon the rapidly expanding export trade of Japan caused by events in China. The indications in the autumn of 1899 were that 1900 would offer splendid opportunities for business; consequently large quantities of goods were ordered abroad, and the year opened with a feeling of over-confidence in Japanese commercial circles. "It soon became apparent, however," says Mr. LAY, that the outflow of specie, which had al ready begun, was likely to increase and that "the large arrivals of commodities would find "an increasingly stringent money market." He goes on to say that unproductive expenditure, or expenditure on works only remotely productive, continues to bear all abnormal ratio to the wealth and resources of Japan, that but little of her large wage expenditure in connection with defence- works, armaments, railways, etc., goes to
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the present drain ceases, the loss of some more gold may be expected, and the required quantity will no doubt be obtain- able, but it is difficult to see what arrange- ments can be made. A possible means suggested is the deferring of a portion of the post-bellum programme.”
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of the financial situation, Mr. Lay's remarks However, to set against this gloomy view
quoted, and with this we shall leave the on the total trade of Japan in 1900 may be remainder of the report for consideration elsewhere. Mr. LAY says: -"
"Foreign trade for 1899 had reached the highest figures "recorded since Japan first had commercial dealings with other nations. That record, however, was in its turn surpassed by the result revealed by the returns for the year "just ended. In 1900 the value of imports was £29,324,646, of exports £20,868,895, giving a grand total of £50,193,541. Japan "continues to make constant progress in all directions, and the tride of the country keeps pace with the advance taking place and with the accompanying growth in the national requirements. One is, therefore, "led to the conclusion that when the unpropitious conditions at present exist. ing-many of which are in their nature "transient-are removed, a great and last- ing expansion of the foreign trade of the Empire can be hoped for with confidence, until Japan attains in the commercial world a position more commensurate with the rank she has gained in the sphere of “international politics.
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disbanded soldiers in South-west Chihli and defeated the Imperialist troops in several conflicts. The movement threatens to spread to Shantung.
SHANGHAI, 20th June, 7.40
p.m. Reliable reports state that General Tung Fuhsiang is collecting resources and veteran troops, intending to start a serious rebellion.
A THREATENED COOLIES'
STRIKE.
We understand that certain companies and
coolie labourers, who threaten to strike if firms here, as a short time ago we suggested was likely, are having trouble with their
removed to a plague hospital and not allowed the sick from plague amongst them are
to leave for their own homes. Without whether plague-stricken Chinese should or entering here upon the merits of the question should not be allowed to leave the Colony, is, we hear, that the Secretary of State for we must accept the existing situation, which the Colonies will not permit the removal of plague-stricken Chinese from the Colony is to be done to deal with the coolie eveu to China. The problem then is, what labourers in order to bring them to reason. By their attitude, these coolies are in effect threatening the Government and putting pressure on their employers to try to coerce Mr. Chamberlain to alter his decision. In fact, the coolics wish to demonstrate that submit to a regulation which they resent. they hold the upper hand and will not In this state of affairs, it would seem to be the paramount duty of all Europeans to unite to teach these refractory coolies that it is their duty to obey the regulation, whilst using lawful means to obtain its rescission. And it is undoubtedly the duty of the Government to co-operate with the European community to inculcate in these labourers The Ostasiatische Lloyd of the 7th inst., in a the virtue and necessity of submission. lengthy editorial, criticises the withdrawal of Many years ago, a strike of cargo-boatmen the German troops and the Commander-in- occurred, occasioned by some such regulation Chief, Count von Waldersce, from China, and as one requiring them to be photographed. considers the move a great mistake on the part of So far as we remember, it was not every the German Government. Our contemporary firm that came out of that crisis with flying thinks the situtation as bad as ever, and that though China has agreed to pay 450 million colours. A salutary sentence passed at the taels to the Allied Powers, there is no guarantee Magistracy on an intimidator caught red- for the payment of the same, nor any reliable handed and the march of an armed squad of the assurance that the outrages of last year will not | Northamptons, headed by the Magistrate with be repeated at an early date. The German journal further hints that England had some- thing to do with the move that caused the departure of Count Waldercee, on the ground that most English papers applaud Germany's The Ostasiatische Lloyd amiably remarks that action of withdrawing the bulk of her troops. English papers usually only praise such actions of other Powers as bring benefit to England.
the Riot Act handy, through the western por- tion of the city, soon brought the strikers to their knees. Those cargo-boatmen objected to a regulation and struck work; to-day, tion and strike work. other classes of labourers object to a regul
Amongst these are sure to be found some who are willing to work but for fear of their fokis, A simple
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