516
QUESTIONS · FOR THE U.S. CONGRESS.
THE HONGKONG WEEKLY PRESS AND
む
18
of the last ten years has been, as was in- | tended, to cause an inflow of gold into the country; but like any other commodity, gold may become a drug, and as a drug (Daily Press, 25th December.)
must fall in value when brought in contact The next meeting of the Congress of the with other commodities. There is no doubt United States is likely to be an important that this depreciated value of gold in the one in the history of the country. For States has already proceeded to such an some sixteen years the position of the three extent as seriously to interfere with the ex- constituents of the somewhat complicated porting capacity of the country. Nominally, executive of the United States has been in it is true, the exports have been increasing a state of chronic strain. For the most in quantity and value, but it behoves the part the Senate and the House have been in people of the States to understand at whose some vital point opposed, and between them expense this has been effected. It is already the President has had to pick his steps becoming a subject of complaint that the warily, often to meet with a slap in the face from one or other, which in'a constitu- great combinations fostered by the present revenue system of the States are only tion not so exactly balanced as that of the enabled to export in the quantities they have States would have rendered him utterly done during the last few years by raising powerless, or compel'ed him to retire from the price in proportion on their home con- office. At other times the President him-
stituents. In principle this does not differ self has been in open and acknowledged from the system of bounties practised by disaccord with both his houses; and it was
some of the European States-which only by a sort of mutual compromise that a expressly forbidden by the constitution of modus vivendi was at last found, and the, the States. Though the people do not pay business of the country prevented from the amount in taxes, as do their neighbours coming to a deadlock. It was only last in Europe, they do pay all the same, and it year that the Senate gave the President makes little or no difference whether the such an ugly knock-down blow in the rejec-money comes out of their pockets as taxes, tion of the HAY-PAUNCEFOTE treaty that
or in artificially enhanced prices for the no government not strong in the confidence necessities of life. That Mr. ROOSEVELT of the country could have stood the shock. has, with many of his countrymen, come to In the present Congress, under the new understand this, is plain from his early President, the skies look clearer, although speeches; but Protection is still in the an abortive attempt was made by a few less United States a word to conjure by, and far-sighted members of the Senate to re- those whose profits depend on it are not open the contest. But this is not the only likely to let it become a byword so long as question of importance to the world at their personal influence can prevent it. Mr. large to occupy the attention of both sections ROOSEVELT has shown himself too wise a of Congress. Notwithstanding the victory statesman to be likely to make shipwreck of of the late President MCKINLEY over his his political reputation by seeking to hasten opponent BRYAN on the silver question, and the conflict before it is ripe, and has the desire of the moneyed classes of the announced that he does not intend to country that the issue should be fixed once
propose any changes in the Tariff. This is and for all time by the demonetisation of the act of a wise man; the priniciple that silver, MCKINLEY was never in sufficient the present excessive tariff must before touch with Congress to have an act passed long be modified is growing in the States, to that effect. Practically, and with the and any attempt at interfering with the tacit consent of the country, the sole stan- dard has become the gold dollar, but until growing plant would be in the last degree dangerous, as well as unpopular. Give a this is legally and officially recognised it is dog rope enough, and he will hang himself. still in the power of agitators from time to Protection has had a long innings, but the time to raise the question when desirous of indications are that the innings is coming to embarrassing the Government for the time
an end, being. It was the intention of the late President to do his utmost to have this anomaly redressed, and it is understood that Mr. ROOSEVELT is equally anxious with his predecessor to have this done; but will Mr. Roo-EVELT's influence with the Senate prove stronger than that of his predecessor? Much may yet rest upon this during the remainder of his term. It is, however, in questions of tariff that the struggle is likely to be keenest: President MCKINLEY made no secret of his opinion that the system that went by his name had its disadvantages, and that already the burdens upon trade as well as the pressure on the people of the States were becoming so oppressive as to call for Mr. ROOSEVELT in his utterances on succeeding to office ex- pressed pretty plainly ideas that implied his preference for a tariff for revenue. The fact is that at the close of the financial quarter there was so much actual specie piled up in the United States treasury- nearly five hundred and fifty million dollars that the look-out was embarrassing and that the Treasury found it necessary to cancel its notes accordingly. Such a fact may indicate a state of high prosperity, but as withdrawing for the moment so large a mass of currency from the industries of the nation it has peculiar dangers of its own. The effect of the highly protectionist tariff
some modi.ication,
THE CRISIS: TELEGRAMS.
[FROM OUR CORRESPONDENTS.]
[December 30, 1901.
SHANGHAI, 27th December, 7 p.m.
It is reported that Yuan Shikai advises the Empress Dowager to remain at Pao- tingfu until the Ministers of the Powers consent to restore Tientsin to China.
HONGKONG LEGISLATIVE
COUNCIL.
A meeting of the Hongkong Legislative Council was held on the 28th inst. in the Council Chamber. Present:-
HIS EXCELLENCY the GOVERNOR (Sir HENRY BLAKE, G.C.M.G.).
Major-General Sir W. GASCOIGNE, K.C.M.G. Hon. J. H. STEWart Lockhart, C.M.G. (Commanding the Troops). (Colonial Secretary).
Hon. W. M. GOODMAN, K.C. (Attorney- General).
Hon. Commander R. M. RUMSEY, R.N. (Harbour Master).
Hon. C. McI. MESSER (Acting Colonial Treasurer).
Hon. W. CHATHAM (Director of Public Works).
Hon. A. W. BRLWIN (Registrar-General). Hon. T. H. WHITEHEAD.
Hon. J. THURBURN. Hon. Dr. Ho‘KAI Hon. WEI A YUK.
Mr. R. F. JOHNSTON (Acting Clerk of Conncils.)
FINANCIAL MINUTES. The COLONIAL SECRETARY laid on the table
Financial Minutes (Nos. 71 to 74) and moved that they be remitted to the Finance Com- mittee.
The ACTING COLONIAL Treasurer second-
ed, and the motion was agreed to.
FINANCIAL REPORT. The COLONIAL SECRETARY submitted the
moved its adoption.
Report of the Finance Committee (No. 15) and
The ACTING COLONIAL TREASURER second-
ed. and the motion was agreed to.
KOWLOON WATERWORKS GRAVITATION SCHEME.
The COLONIAL SECRETARY laid on the table the following correspondence, and said-I may inform the Council that a telegram has been received from the Secretary of State for the Colonies, in which he informs your Excellency that he has referred the scheme to Mr. Chatham
for report,
Government House.
Hongkong, 31st October, 1901. Sir,-In continuation of my despatch No. 325 of the 23rd of last August, I have the honour to transmit for your consideration the enclosed, copy of letter from the Acting Direc- tor of Public of Works, submitting a complete estimate of the cost of the new Kowloon Waterworks Gravitation Scheme, and to recom- mend for your approval the improved scheme, which seems absolutely necessary if a proper water supply for Kowloon is to be secured.
2. In the Estimates for 1902 a sum of $60,000 has been inserted for this purpose, and a sum of $100,000 has been placed in the Estimates for this year: but, as the latter sum "has of the Manchurian Convention.scarcely been drawn upon, there will be avail- Firstly, they cannot accept Russia's demands able for 1902 a sum of about $160,000. for the exclusive training of the Chinese troops, the limitation of the numbers of the Chinese garrison of Manchuria, and the appointment of a
SHANGHAI, 26th December, 4.10 p.m. A Peking telegram reports that the Chinese plenipotentiaries object to four
terms
Russian commander. Secondly, they state that Russia must evacuate Manchuria before three years' time. Thirdly, China cannot agree not to open any mines in Manchuria without Russian consent and partnership, or to employ solely Russian capital. Fourthly, if Russia returns the Newchwang railway to China, the latter cannot agree not to open branches without Russian consent and partnership, or to employ solely Russian capital.
may
3. Mr. Chatham estimates that a sum of $200,000 a year will be required until the work Works hopes it is completed, as the Acting Director of Public
be in four years' time. 4. In view of the urgency of the matter, I shall be glad to learn by telegram whether you approve of the scheme now submitted. I have the honour to be, Sir,
Your most obedient Servant,
HENRY A. BLAKE, Governor.
The Right Honourable
J. CHAMBERLAIN, M. P.,
His Majesty's Principal Secretary of
State for the Colonies.
(Enclosure.)
Secretary.
The plenipotentiaries state that they will forthwith discuss the other terms of the Acting Director of Public Works to Colonial Convention, and in the meanwhile they beg M. Lessar, the Russia Minister at Peking,
on the to give them an four points,
answer
above
Public Works Office, Hongkong, 24th October, 1901. Sir, I have the honour to report that Messrs. Denison & Ram have now, in accordance with
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Private notes are available after approval.