November 27, 1905.]
a nation's imports and exports must balance each other of necessity. Certainly it does not appear to have been a carefully thought out proposition that any increase of foreign sales to China must depend upon foreign willingness to buy a correspondingly greater amount of Chinese products. China has an area said to be well stored with undeveloped riches; and we agree with Professor JENKS that here there is another method of increasing China's power to buy, by assisting her to develop. Unfortunately, China does not desire such assistance; and at present the prospect of advancing that development seems as reinote as ever, if we except the railway movement, and even here China seems determined to check it by an unwar- ranted self-confidence. In the meantime, ber purchasing power shows little sign of inability to keep pace with the demand for foreign goods; and the only reason for im- porters to wait on exporters must be an academic one.
EUROPEAN POLITICS.
(Daily Press, 22nd November.) Prince von BuLow has evidently been studying scripture of late; "all things are lawful for me, but all things are not X- pedient," said ST. PAUL, and all things are lawful for Germany, repeats Priuce BULOW, but they are not always ex- pedient. We do not propose to comment ou the PRINCE's ethics, but the result so far has been eminently satisfactory, and we have no disposition to quarrel about the method. Germany desires to be on good teras with England, and the two govern- ments are, so far, in perfect accord; eich has too much regard for the responsibilities likely to be incurred in case of a breach to perniit itself to be influenced by the hostile opinions expressed by the press; and he trusts that the prejudices which have been excited on both sides will with further experience cool down. With regard to France, his words are equally reassuring. By the arrangement with respect to Morocco pence has been maintained, and he trusts that the relaxation of the strain will be
the prelude to future confidence. France stands well with Italy and Russia, and Germany is also good friends with the latter, so that there is no reason to fear any breach as loug as things carry on in their present groove. It is certainly plea- san', after the friction of the last few months, to find these sentiments issuing from the mouth of a stat smin in Prine: BULow's position; and we should be the last to throw cold water on so pleasant a picture, and only hope it may come true. There is, of course, a dark spot over the otherwise serene sky, and that is the present position in Russia. That Germans should feel this more keenly than the other Powers is natural. Uniler any cir- cumstances it is an unpleasant thing to have one's next door neighbour's house on fire, and we are not disposed to cavil at Germany's taking precautions on her own frontier. It is yet well to remember, as a inatter of history, the unfunate result of Germany's interference in a not dissimilar case, when she attempted to interfere with the course of the French Revolution by snding the DUKE OF BRUNSWICK across the frontier with the object of forcibly re- storing Louis XVI. True, the German Government repudiates all such intervention in the present case; an las long as she con- tinues in this mini there is no great fear for the preservation of peace in Europe generally, but there has always been on the part of the rulers of the two countries a
|
|
CHINA OVERLAND TRADE REPORT.
Russia
are
L4
as
strange sort of personal fellow-feeling got quite understandable to the outside world; aud this has at times been so marked that Germany has more than once endangered her relations with the other Powers through her not altogether wisely displayed affee. tion. Some have attributed it to fear, others to even less worthy motives, but it is undeniable that it has existed, and has been the fruitful cause of much uneasiness to Germany's neighbours. Prince Below does not deny it, but it is not so plain why he should take the present opportunity of, stating, in the face of recent occurrences in Russia, that Germany's relations with
excellent,
is uatural and traditional." With whom are these relations so excellent, with Russia as a nation, or with the TSAR whose ill-faith with his own people has brought about the present position? The note jars unpleasantly with his other declarations. Then there is another little affair, which, though at the moment it looks insignificant enough, yet has within itself many poten. tialities. The chief Powers of Europe have seemingly come to the determination to make a "Naval Demonstration" before Constantinople, and the SULTAN is up. parently determined to take no notice of it. ABDUL HAMED is not a model ruler, but he has proved himself no fool when bicked against Europe; in his way he is as clever as the KAISER, as careless of his good-faith as the TSAR, and as incapable of looking the situation in the face as the EMPEROR OF AUSTRIA. In the case of his treating the demonstration as a joke, are the Powers going to make it a case of war, and if so, who are to be ranged on the respec. tive sides ? Are we going to make it a second Navarino, and reverse the whole of our foreign policy of the last sixty years? For the moment Finland professes to be satisfied, and as long as the TSAR's solemu promise holds good, judging from the past, she is ready to act loyally, but she caunot forget that the breach of trust was not on her side, and she has learnt how little a TSAR's most solemn promise is worth. Poland's case 19 even worse; she has a century of wrongs to adjust, and Germany's couscience is not altogether clear about her treatment of the portion that fell to her lot. It is barely three years since the Poles of Posen were ready to throw in their lot with Russia rather than face their projected ffacement by Germany. Altogether while Prince vox BULow's desire for peace and harmony in Europe is undoubtedly sincere, his conversion has come a little late to be received with the acclamation which it would have met with had it been six months earlier. With regard to England he WILS fully justified in stating that the example of France, worthy proof that a reconciliation between England and Germany would be cordially received by the British nation, but it way very well be that he rather overshot the mark in using the term "always." Nothing at present stands in the way except that Germany for a series of years has been capricious, but capriciousness is at best dangerous, and may lead betimes up to misunderstandi.gs not to be readily re- moved. Still, from her position as a Power, as well as from the fact that geographically she is set between eastern and western Europe, and her weight thrown to one or other side must very materially alter the balunce of power, no nation on the coutinent of E rape can afford to treat lightly her intentions. Such a position from an inter- national point of view entails a considerable responsibility, and if her EMPEROR and her CHANCELLOR be as conscious of the fact as
!
Was а note-
363
the latest utterance would seen to indicate, they will find no discordant word uttered by Great Britain.
A SERIOUS BUSINESS
INCONVENIENCE.
(Daily Press 22nd November). Hongkong has not been,so ngitated for a long time as it was yesterday in connection with the matter ventilated in to-day/s e rrespond-nce. The whole business com- munity was in accord in condemning the negligence, to put it mildly, of the local office of the Paciffe Mail S. S. Company. The Korea sailed yesterday with a portion of the Christmas mail for America. We say a portion advisedly, as we hear of many firms missing this, the last, Christmas mail,. owing to the
failure to announce the sailing of the Kore until the last moment. We understand that the Post Office was not notified until after four p.m. on Monday. This notwithstanding that the Korea has been in harbour for the last eight or nine days. As a contrast, we understand that the Empress boats no sooner arrive than the Post Office is a ivised of their sailing date. Our readers will remember that not long ago a Japanese company was fined for not giving safficion: notice of the departure of one of their teamers, and we presume that the authorities who decided that their notice was inadequate will be competent to give an Just at this season, opinion in this case.
when silings are less frequent, there can be no excuse for the omission. If this Compray cannot afford to advertise its movem uts alequately, like other com- panies, that does not affect a case like the present because the Post Office, if notified in time, will do it for them. As already said in a footnote to the correspondence, we do not think the interes's of this Coni- pany will be served by such neglect of the interests of the public.
CHINA'S NEW COPPER CURRENCY,
(Daily Press, 23rd November.)
In his article on "Chinese Mouetary Re- form" in the September issue of the Journal of the American Asiatic Association, Pro- fessor JENKS says: "The proportion in value of copper coins in most civilised countries is very small.
In China
C
I should expect that for a considerable time it would be much lar. er; the highest estimate that I have ever heard placed upon the copper circulation in China as compared with the silver circulation even at. the present day, counting the cash used in the interior, where the common people use nothing else, and conting silver both in the form of dollars and of ycee (bullion), is that one-third of the value of the metals now used is in copper cash, two-thirds in silver." It is possible that the currency expert might amend this e-timate to-day, in view of the wholesale and reckless coin- age of copper money in China, against which the foreign trading community, voiced particularly by the Chambers of Coinmerce, has been futilely protesting. Three or four months ago it was stated that there were no less than eighteen provincial mints busy or about to become busy with the pleasant task of coining money. This with the full connivauce and encouragement of the pur. blind Government at Peking, in stolid. defiance of its undertaking to establish a stable and uniform currency. These eighteen mints are expected to yield over seven million taels a year for the Military Com mission (according to a Chinese journal); by which it is evident the Chinese Government
i
No comments yet.
Private notes are available after approval.