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THE HONGKONG WEEKLY PRESS AND
receive the brunt of foreign discontent, and are anxious to prove their good-will, and to justify their conduct. Russian diplomacy never seems to mind such criticisms, turning a deaf ear to all protests, and serenely going its own way, regardless of treaty obligations and promises. We reprinted on page yesterday some interesting Russian and German comments, which bear out our earlier suggestions that in Manchuria the Japanese have been more sinned against than sinning.
China has procrastinated and fenced in the old-fashioned way, but it now looks as if Russia has been diplomatically even more Chinese than China. Peking is dilatory, but St. Petersburg is mulish. It may be that the domestic disorder now pre- vailing in Russia is largely responsible for the neglect of her duty in Manchuria, but the present policy bears such a marked resemblance to ALEXIEFF's bluff method of shirking evacuation before the war, that we can have but little faith in Russia's good faith with Japau, in which British and American traders have a keen, per- sonal concern. The proposals of Japan for 8 commercial treaty have been received by Russia, but no attempt, | apparently, has yet been made to accord them the consideration they deserve, and meanwhile the patience of the rest of the commercial world, which also has rights to a share of the Manchurian market, is wearing very thin. The Russian newspapers seem to have got at the contents of the Japanese proposals before the Russian statesmen had time to look at them, and as most of the comments translated were by semi-inspired organe, only one conclusion seems to be permissible. Russians are dead against opening the Amur basin to the commerce of all comers, and when an official reply is made, will probably remind Japan of the agreement with China, which closes that river and its tributaries to all but Russians and Chinese. The real reason is that the Russians recognise that with equality of opportuuity, their trade there would dwindle to insignificance, once the Japanese and British began to compete. China is not likely to insist on the Treaty of Aigun if Russia does not; but it is certain that Russia will, because, as the Norge Vremya predicts, two years after the Japanese flag Amur, every Russian steamer will have disappeared. Japan bas opened half a dozen places in South Manchurin, so that Russia cannot wait argument. The you first" Japanese military administration by its methods seems to have largely sacrificd in South Manchuria the credit that would have gone to Japanese diplomacy for this fair start; and we have no doubt that Tokyo, amenable, ns we have said, to foreign criticism, will be glad to substitute a civil administration as soon as Russia makes it possible, and so eliminate the troubles complained of by British and But", the London Times repeats, "the Japanese can hardly be expected to prevent their own countrymen from sending goods into South Manchuria without payment of duty so long as the Russians permit their countrymen to send goods into North Manchuria upou the same advantageous terins ". Meanwhile the Chinese revenue suffers under this system, and the British and American merchauts trading with Newchwang, where the Japanese rigorously levy the Chinese Cus- tɔms, suffer worst of all. M. PoxOTILOFF, the Russian Minister at Peking, realises the true inwardness of the situation, and we believe, would soon come to terms for a settlement if he were allowed the discretion he ought to have.
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量
TRADE AT CHANGSHA.
The
[October 29, 1906. foreigners doing the work. Ex-governor TUAN FANG might have achieved something, but when he was transferred, the scheme was simply allowed to drop, doubtless with the junk-owners' approval. Among the details of imports, largely flavoured with Japanese products, it is pleasant to note that Hongkong refined sugar is making headway against all other kinds. quantity imported was 31,853 cwts., against 9,065 cwts. in the last half of 1904. Mr. GILES tells us that "a further increase One may be confidently looked for".
the importance of paragraph shows commercial travellers, even against quality. It
Hays; "Soap is also being imported in ever-increasing quantities, and a number of Japanese brands have been placed on the market in an endeavour to compete with the British and American article. They are of very inferior quality, but they appear to command a ready sale, largely because they enjoy the advantage of being pushed by Japanese merchants on the spot". And again, we have this:
(Daily Press, October 25tb.) Interest in the alleged open port of Changsha has waned since what was at one time a burning question was allowed to end so ignominiously--that is, by allowing the Chinese obstructionists to have their own way, for a consideration. Mr. Acting-Consul B. GILES is not particularly encouraging in his report on the trade of Changsha for 1905, and we close the blue-book with a feeling that perhaps after all the place was not worth the fight for principle that was foreshadowed soon after its nominal opening in 1904. The statistics he gives us are not of much present use, for various reasons. There are no figures with which to make useful comparisons; in any case the large proportion of junk-borne trade makes the Customs returns unrepresentative of the real volume of business; and finally there is the rise in silver to further complicate the report. The Customs showed exports worth only £246,641, against £645,559 of imports, but such important exports as tea,
"The Japanese are making a determined bid coal, and wood-oil are not seen by the for the trade of Changsha and of Hunan generally. In this province foreign interests are as yet Customs. Mr. GILES also adds that
practically non-existent and the Japanese are kerosene oil and machinery were undoubled making the most strenuous efforts to develop ly imported in large quantities last year, yet their trade and place it on a firm basis before they do not figure in the Customs returns. any other country shall have had an opportunity Consular returns have to depend largely on of doing so. They have established a number Customs returns, but Mr. GILES seems to of firms in Changsha, chiefly large retail establishments; the number of Japanese traders be so alert to what is being done that we may take his word for it that as a place in Changsha amounts to no less than 100, who, by dint of advertising and pushing their own commercially important Changsha is unlikely goods, are already doing a very fair business, to justify the bopes it once inspired. The and one which is rapidly devoloping. In total trade of the port for 1905 is given at anticipation of the opening of Changte the 2892,200, as compared with £403,899 for Japanese Steamship Company is building a the latter half of 1904, a proportionate steamer larger than either of its present ones, increase of nearly elovca per cent. Expressed which will be put on the Changsha ran, while in silver, the growth is reduced to barely one of the smaller ones now running to Changsha over five per cent, the total for the yearly speaking it may be said that the Japanese will be transferred to the Changté run. General- being Hk. Tls. 5,931,522, and for the have made a careful and systematic study of the previous half-year Hk. Tls. 2,822,528. We commercial possibilities of this province; they may look for the interest in these details, are making the fullest use of the information not as representing the actual volume or collected by them, and are prepared to take value of trade, but as illustrating "the advantage of the slightest opening for trade io
whatever direction. extent to which the steamer companies are managing to compete with the junk traffic". We are now told that Changsha is chiefly a residential city for retired officials and other wealthy people, but with very few traders of importance. It offers only its own local consumption for foreign goods, which at present is neither strong nor growing. Shipping is about fairly divided by British and Japanese steamers from Hankow, two of each. The British take 47.5 per cent of the tonnage, the Japanese 41.35 per cent., the modest remainder falling to Chinese and German bottoms. The British ner-centage is much greater when expressed in cargo value, being 61.96 per cent to Japanese 34.34 per cent. There has been talk of new competition by the China Merchants' Com- pany and by a German line, but Mr. GILES does not think it likely to pay them, Although the foreign steamers have been getting a bigger share of the carrying trade, he understands that freights have been far from remunerative; and the existing steamer companies continue running rather with an eye to the future than on account of the pro- fits realized by them at the present time. As it is, they have to suspend during a quarter, of the year, owing to low water, while the junks continue busy. The junk masters are alive to their advantage, and frequently, when approached by shippers during the steamerless three months, insist on contracts for the whole year. That is, of course, a check on exports, and helps to explain their comparative insignificance in the Customs returns, There is no probability of the river being dredged, as the Chinese seem unable to tackle it, and object to
|
TWO SILVER DOLLARS.
(Daily Press, 26th October.) The Singapore Free Press of October 18th discusses & Government Bill then about to be introduced, and since reported passed, which was necessitated at the southern port by the rise in the value of silver. Though not new, a similar step having previously been taken, our contemporary describes it as "another step in establishing the gold standard". The Straits Government takes power to pay either gold or silver in exchange for its currency notes, whichever may bappen to be financially convenient. If the Government has more gold than silver, it will tender seven sovereigns for six ten-dollar notes; if the coutrary, it will redeem them with sixty of its own silver dollars. In addition, will accept all its own dues in gold, if so offered. Thus the British sovereign, though not legal teuder among the general public of the Straits, becomes legal tender so far as payments to A fixed the Government are concerned. follar does not at once remove all the embarrassments of exchange fluctuation- nothing apparently can do that—although it simplifies matters a great deal. the value of the Straits dollar was arbitrarily fixed at 28 4d., silver, though rising in value, was not to be found in it to that amount. Like the Hongkong coin, it was not really worth what it purported to be, the balance of intrinsic value being the credit of the Government which issued it. In other words, it was a token, a promise to
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