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Mr. A. R. Vincent, acting assistant Judge of H. B. M.'s Supreme Court, returned to Shanghai last week having made the trip to England and back again, via Siberia, in 48 days. Mr. W. E. Leveson, Secretary of the Municipal Council, made a similar trip some time ago, and was absent from Shanghai exactly 47 days.
A young German resident of Tientsin Mr. Otto Wandel who was formerly in the employ of Messrs. Carlowitz and Co., but latterly had been engaged in business on his own account, has died of hydrophobia, having been bitten by his own dog. Mr. Wandel was married, and his wife had recently left for home.
Sir Frank Swettenham, K C.M.G., formerly Governor of the Straits Settlements, has been appointed President of the Commission appoint ed by the Earl of Crewe, Secretary of State for the Colonies, at the unanimous request of the unofficial members of the Legislative Council of Mauritius to enquire into the finances, etc., of that Colony.
'The hotel trade at Peking and Tientsin, remarks a northern contemporary, has been booming of late. Vast crowds of tourists have been visiting the capital, intent on sightseeing. These tourists, like migrating birds, return to these parts at regular intervals and spend a good many dollars. This goes a long way to support the otherwise dull trade of local stores
and hotels.
The depression in trade has affected Saigon considerably. Failures among Chinese traders and difficulties among European merchants are matters of common talk. The number of bank ruptcies is, however, not large, owing to the unwillingness generally, of the creditors to enforce their claims to the uttermost in the
THE HONGKONG WEEKLY PRESS AND
hope of a composition or of things mending. For all that, the crisis goes on without any sign of improvement, especially in the import trade. Experts differ as to the why and wherefore of the crisis. Some lay the blame on the fall in silver. Others say that it has all been brought about by reckless trading and dealing.
The Times in an editorial on the report for 1907 or the administration of Korea highly praises the wonderful achievement, comparing it favourably in some respects with the British tasks in India and Egypt. After reciting the remarkable results of the extensive employment of Japanese officials, the journal points out that
the disbandment of the worthless army was ap- parently effected without consideration for the future of the discarded soldiers. The Times would be glad to see a large and prosperous community of Japanese established in Korea on friendly terms with the natives, otherwise the Japanese temptation to see other outlets for population might become more and more insistent.
The half-yearly statement of the International Banking (orporation to December 31, 1908, notes that "business in the Far East during the year rallied spasmodically in some directions, but as a whole remains quiet, and, while we are rather more than holding our own, our profits are in bonsequence small. Under existing conditions the resumption of dividends must be further deferred. The contraction which we
deemed it prudent to make in our commitments in anticipation of, and during, the recent panic resulted, as might have been expected, in the
alienation of a certain amount of our business, but we hope by the diligence of our staff and by attention to the interests of our customers to soon regain our position."
The increase that has taken place this season in the number of passengers travelling home by the Trans-Siberian Route from Shanghai is worthy of comment remarks the Shanghai Mercury. Since the beginning of March this year every one of the trains proceeding home- wards has been practically full, and at the moment the booking rush is at its height and will continue so for several weeks to come. Enquiry at the Railway's agents locally show that the percentage of increase over the number travelling by each train last year is practically fifty-that is of those booking in Shanghai. Last year there was a considerable advance on the previous season, but not nearly so much as has taken place this year. This is attributed to the improvements effected on the railway, and also to the reduction of the time required for the journey from twenty-one days to fifteen,
INDIA'S BUDGET.
(Daily Press, April 17th.) The brief announcement that after a long series of prosperity budgets the Govern- ment of India has been confronted with a Financial Statement which shows a net deficit for the past year of no less than £3,720,000 may have suggested to many readers, especially in the Far East, that this is due in large measure to the crusade against the opium trade; but the truth is that during the past year the Indian Go- vernment's opium revenue exceeded the estimate by over one million pounds ster- ling This unexpected assistance to the Treasury took the form chiefly of advance payments for Malwa opium in order to ensure prompt shipment against the res triction of exports which the Government This artificial of India is now enforcing. inflation of the income cannot be repeated, and the estimate for the present year shows a decrease of £1,168,200. It bas to be borne in mind that the decrease must be progressive if China's re- solution to entirely stop the native cultiva tion of the drug is effectually carried out. Yet in the whole course of the debate on the Budget in the Calcutta Legislative Council no reference seems to have been made to the subject by any speaker, for the reason perhaps that the time for effective protest has gone by.
[April 26, 1909. DÅ gestions which are based on knowledge and i accurate data. India, as we know, is not the only country confronted with this economic question. It is one with which all Eastern countries are more or less fami- liar, Japan especially, and we are not allo gether unacquainted with it in Hongkong and the Treaty ports of China. It would. certainly be interesting and instructive to have an authoritative opinion on the causes: of the rise in prices in India, but it is not very obvious how a Government which is already postponing necessary public works to avoid additional taxation can well do more than this to stave off the danger they recognise to be inherent in a rise in the price of Indian products.
RAILWAY CONSTRUCTION IN YUNNAN.
(Daily Press, 19th April.) The rapidly approaching completion of the French line of railway from Haiphong to Yunnanfu affords a text for a writer in one of the Hanoi papers to preach to his compatriots the duty of confidently believing in the future prosperity of this great enter- prise. To act otherwise, he says, would not only give to certain metropolitan politicians additional grounds for distrusting the Colony, but would also give an opportunity to all the enemies of France in the Far East for the display of their malignity. Patriotism is The deficit which the Budget Statement all very well, but men can only believe in shows involves a sharp eurtailment of the future prosperity of the enterprise on expenditure not only on the part of the commercial principles. We gather from Government of India but on the part of the the article that there are two opinions in Local Governments as well, implying the Indo-China concerning this railway. There discontinuance or postponement of many are those who regard it as destined to be- useful public works which were undertaken come a modern Pactole," bringing away when the str. ss of approaching poverty did waggon loads of gold from Yunnan, and on not seem so evident to the Local Govern. the other hand there are those who prophesy ments. Famine, sickness, trade depression the rapid and lamentable failure of the and loss of railway revenue are mainly grand enterprise. It is probable, the writer for the diminished receipts. says, that, as always, the truth is situated responsible Hopes of better times were held out in the between these two extremely contradictory course of the debate. Though the agricul opinions. But though for Frenchman it tural outlook in India is not as bright as it may be an obligation of patriotism, of might be, it was declared to be not dis-national amour propre not to clamourously couraging, and with a single good season India might look forward to a rapid return to prosperity. One notable feature of the debate were the allusions made to the rise in prices in India, and a demand was made for an immediate and full inquiry into the abnormal prices now prevailing. Though the Financial Member was not in a position to make an announcement on this subject, he intimated that the manner and agency of an enquiry had for some time past been under the consideration of the Secretary of State. The Government evidently recog nise the complexity of the question and the subtle danger inherent in high prices to which the Government are exposed in com mon with the whole community. In the words of Sir FLEETWOOD, WILSON "the cheap ness of India's produce and of her labour has been the main cause why she meets her obligations with ease. If prices should rise to a level which interferes seriously with the demand for her products in foreign marke's, our export trade would decline and our capacity to pay our debts be diminished." While the Government does not deny the importance of the move ment in prices,, the many hardships which it entails and the dangers which attend it Sir FLEETWOOD WILSON said they could not accept in silence the criticisms which laid the high prices at the door of the Go- vernment, or which pretended that the Government could alter the position by a stroke of the pen. They were prepared to ascertain the facts with the utmost care and to give their best consideration to any sug
decry the first serious enterprise of the French to extend their influence in China, it can hardly be expected that an appeal to patri tism will persuade the prophets of evil to take an optimistic view of the enterprise. It seems to be admitted that the regions of Yunan traversed by the line will not immediately provide sufficient traffic to coverexpenses, but, as the writer very rightly urges, hope of a more favourable future need not be abandoned because the line does not pay from the very start. It is admitted by all who have travelled in the country that Yunnan is by no means a poor province. Major DAVIES in "Yunnan: the Link just between India and the Yangtsze," published, says: "It is safe to say that there is no district in the province that does not contain mines, and with better communica- tions Yunnan might become one of the principal metal-producing countries of the world." It is largely, indeed, on this fact that the French build their hopes of the future success of the railway. The mineral de. posits of the province are as yet practically unexploited. Chinese have scratched the surface of this wealth in some districts; and the belief that when these mines are opened up, either by European or Chinese enter- prise, the ore will be transported by rail is strengthened by the fact that even now the Chinese exploiting mines situated about twenty kilometres fro. Mengtze couvey their ore to the railway for transportation. to Laokay and below. There is no river in the interior of Yunnan, Major DAVIES tells us, that is of any practical use for boats,
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