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[March 29, 1902. necessary then in China-an empire composed of a score of grand Provinces, each a kingdom in itself, with its own budget and its own system of taxation. What is good and anitable elsewhere is not necessarily so in China, and a negotiator there, to do sny matter justice and formulate a workable and useful rule, must put himself in the other's placs and see with the other's eyes. Such procedure, in addition to being what justice and common sen-e demand, would have the additional recommendation and ad- vantage of winning the native negotiator's sympathy and enlisting the Chinese Govern- ment's support, and so would secure honest effect for the rules agreed on." The expan- sion of China's exports has become absolutely 38 China's Foreign imperative inasmuch
has been and iş be gold indebtedness ing gradually largely increased through the continuous serious decline in the gold price of As an evidence I need but refer to the silver. indemnity of 459 million taels in respect of the troubles in North China during 1900. When that indemnity was agreed to in 1901 the Haikwan Tael was equal to about 3/- ssy three shillings. To-day in consequence of the depreciation of the gold price of silver the Haikwan Tael is only equil to about 2/8 or a fall of 11%.
While the gold price of silver continues on the present level the said in- demnity of 450 million taels is increased to about 506 million taels, solely through the decline in the gold price of silver. A decline of every one penny per tael from 3/- means an addition to the indemnity of about 13 to 15 millions taels. Through the decline in the gold price of silver, China has to pay an enor mously increased amount in silver in respect of the interest on the indemnity, as the interest is also calculated in gold. The difficulties Government ahead of the Imperial Chin se are of considerable magnitude but with the cordial co-operation of the Viceroys of the various Provinces who acted a most creditable part during the Boxer troubles in 1900, the difficulties are not insurmountabl but in my opinion China's financial salvation Increased lies in largely increased exports. exports can only be accomplished by the effective abolition of lekin and all other such levies. (Applause.)
THE HONGKONG WEEKLY PRESS AND Robinson, whose absence from among us will should be definite and final. The one single, be much missed in meetings of the Chamber. payment should allow all merchandise to be Gentlemen, unlike the schoolboy, I have not moved, shipped and transported throughout kept the sweetest bite for the last; on the the whole of China and her dependencies, contrary it is the only bitter morsel of the including Manchuria, that is, from any one feast, vis, the resignation of our Secretary. I part of China to any other part however personally am deeply indebted to Mr. Wilcox remote-without further charge of any kind for the efficient way in which he has conducted whatever, and the payment of the increased the business of the Chamber during my chair-tariff should exempt merchandise from any tax- It manship. My pred-cessors in the chair I am ation after its arrival at destination. sure would echo these sentiments if they were should be definitely arranged beforehand that here to do it. It will be extremely difficult to the revenue from the increased tariff shall replace Mr. Wilcox: he deserves the heartiest be divided proportionately between the Central thanks of every member of the Chamber. and the Provincial Governments. This is most (Applause.) 1 now beg to formally move the important because when lekin and other taxation adoption of the report and accounts.
are abolished it is essential that the Provincial Mr. H. W. SLADE-I beg to second the officials should have the req isite revenue to motion. The report that has been put before carry on the administration of the Provinces. us and the speech we have just had from the The new treaty should contain a stipulation Chairman have shown us all the many topics that the increased tariff shall be collected and and very difficult questions which came before administered by the Imperial Maritime Customs. the Chamber during the past year, and I do This department has rendered the most invalu- not think I need say anything particular about able service to the Central Government and to Boy particular subject. All I wish to do is to foreigu trade ever since it was established in congratulate the Committee on the very careful 1859. The fact of the new increased tariff be- and able way in which they have attended to ing collected by the Imperial Maritime Customs the interests of the mercantile community of or some other department organised on a simi- Hongkong. There is one matter which our lar footing would be a guarantee that the money Chairman mentioned to us, namely, the matter would be honestly administered. The Imperial of the new duties imposed under the new Maritime Customs is the only department of the treaty. This is a most important matter, and Chinese administration conducted on efficient a matter which needs very careful consid ra- business lines and in its ranks there is the nucleus tion before can say anything definite upon it, of the very best material for the ultimate forma- and nutil fall details as to what the terms tion of a Čivil Service for the Chinese Empire. of the proposed treaty are going actually The time is most opportune for insisting to be, it is very difficult to form a con-upon the abolition of lekin and inland taxation clusive opinion. But it seems to me, however, on trade as well as upon the actual opening-up that the idea of a fixed charge on all imports is of the inland waterways of Ching to steam a right idea, providing that the promises of the navigation on equal terms to all nations. Great Chinese Government as to the abolition of lekin Britain can do more to help in these matters than and other internal charges are really carried any other Power, and she still enjoys by far the The removal of ont. You will all have noticed the romarks of largest, share of the trade. the Chairman regarding Mr. Wilcox leaving lekin would give freedom of trade to all the secretaryship of the Chamber. His duties countries in the largest uuopened markets in have been done most heartily for the welfare the world, and the reform could not fail to of the Committee and all of us as well, and bring about a great general expansion in I am sure we shall feel his worth even exports from China. Any expansion in exports more when we come to try to find a successor would enrich China's industrious aud frngal to take his place. (Applause). There is just millions, and would enable them to buy in- one more point I wish to touch upon. I am creasingly of imports from the outside world's sorry to say that we shall in the next year lose markets. So soon as lekin in thoroughly abolish- our Chairman. I am sure I need say nothing led, foreign trade with China will expand almost to you about his worth or anything of that immeasurably, with substantial advantage to Im-
The CHA EMAN-The confirmation of the kind. It is all known to everyone, and I think perial and Provincial revenues, while the internal no than will leave Hongkong whose place is and inter-port trade will also increase commen-election of the new members is the next more difficult to fill in the future than Sir surately. The North American Review for Jan- business befo e the meeting. I have pleasure Thomas Jackson. (Applause.) I beg to second uary, 1901, contained an article by Sir Robert in proposing that the election of the following new. members be confirmed -The Hamburg- the adoption of the report and accounts. Hart, "China and her Foreign Trade," in which
Amerika Linie, Messrs. E. Pab.iney & Co, the Hon. T. H. WHITEHEAD-Before this motion he dealt with the abolition of lekin, transit passes,
Chin Export, Import & Bank Co., Mr. Ellis is put to the meeting I would like to make a the revision of tariff, &c., and his views are of few remarks in connection with one subject the very highest importance. Sir Robert Kadoorie, Mr. Fung Wa Chün, Mr. M. 8. only, and that is the question of the revision of wrote:-" "The Tariff requires revision, for since Sassoon, Mr. C. L. Gorham, the Guaranty Trust Company of New York, the Tai Shing tariff; and its importance justifies me in asking 1860 all values have altered and many new you to listen to me for a few minutes. The commodities have appeared. Whether it is to Paper Manufacturing Co, Ld, and the Agreement between Great Britain and Japan remain a five per cent. tariff or be made ten per Russo-Chinese Bank. of 30th January, 1902, substantially guarantees cent. is a point for negotiators to deal with. the integrity and the independence of the The Commission consulted the provincial off-motion was carried unanimously. Chinese and Corean Empires and that all na-cials in this connection, and purposed to pro- tions shall within the limits of the Chinese pose a ten per cent. import duty, plus a five per Empire and in the adjoining regions be afforded cent. transitdue, payable simultaneously, coupled equal opportunities for the development of their with the total abolition of all other taxes on commerce and industry. The object of the such imports forever after and everywhere, and alliance is the maintenance of the "open door" the Government was to arrange for the equit- in China. With this object the American Go-able division of the amount so realised between vernment has expressed distinct approval. The the Central and the Provincial Treasuries. As Agreement makes for the preservation of peace for exports, it was under consideration to for the next five years at least. Trade has retain the five per cent. rate but do away with thereby been made safer, and 'tis not unreason- the right to bring produce from the interior able to expect that it will become more extensive. under transit passes, coupled with an undertak- But for the development of commerce, fiscal ing to refund to the exporter at the time of reform throughout the provinces of China is export to a foreign country whatever amounts necessary. The effective abolition of lekin and he had paid on such produce over and above a overy other form of taxation on trade would half tariff rate between the place of purchase open in reality China's internal waterways to and the port of export. Some such arrange- team navigation and immediatly bring about ment would satisfy the Provincial officials, immense expansion in the export trade. would efface hostility to the spread of foreign Against the total abolition of lekin and all trade, and would also at once do away with the taxation on exports and imports the British malpractices and abuses connected with the Government should concede to China, a sub-present unpopular transit system. The most stantial increase in the tariff now in force important point of all, however, is that which on imports under treaty. But any increase in is connected with negotiation. Negotiation the import duty should be granted on one con- concerning commercial matters ought not to dition only, viz. that lekin and every other tax be in any degree of the nature of dictation, charge of whatever nature now levied on and it ought to proceed slowly and cautiously, trade should be abolished. The payment of the and not only with a perfect knowledge of facts one increased import duty in substitution of and circumstances, but with a full and friendly ekin and of every and all other taxation on consideration for the other party's views and merchandise to be fixed in ́s new treaty, necessities; and in no country is this more
The report and accounts were adopted unnimously.
Mr. J. R. MICHAEL seconded, and the
The CHAIRMAN-The next business is the election of the new General Committee. ballot will be-taken, and papers sent round.
Hon. T. H. WHITEHEAD-I would wish to mention to members that our worthy Honorary Secretary, who is retiring from the post, is, I think, eligible for a seat on the Committee, and I think it would be a very graceful and a very proper compliment for the members elect him to that position. I only make it as a suggestion. His services would be of very great use. (Applause.)
Mr. R. L. RICHARDSON-I beg to state, Mr. Chairman, that I am not st.nding for the Committee.
A vote was then taken, Messrs. Hi P. White and A. Ross acting as scrutineers, and at the conclusion of the counting of the votes,
The CHAIRMAN intimated that the result of the voting was as follows-Sir T Jackson, Chairman; Messrs. C. S. Sharp, Vice-Chairman; A. Haupt, E. A. Hewett, Hon. J. J. Bell Irving, Messrs. W. Poate, R. C. Wilcox, N. A. Siebs, and H. E. Tomkins. Of course, as you are aware, added Sir Thomas Jackson, I will be here only a very short time, but still as I have been Chairman I will continue at your request to act in that capacity during my stay. ||(Applause.)
Mr. R. C. WILCOX-Mr. Chairman and gentlemen, I beg to return my sincere thaul
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