Page
July 24, 1909.]
Russian financiers do not monopolise a loan in the Yangtze Region, Russia cannot be regarded as contravening the strict letter of the engagement into which she entered with England in 1899. But there can be no question whatever that the demand which Russia is at present making on the Chinese Government is a flagrant violation of the whole spirit of the engagement. At the time she entered into the compact Russia had a well-defined "sphere of interest" in Manchuria, which she completely lost as a result of the war with Japan. Had she been able to maintain the dominant position she had acquired in Manchuria, she would not zow in all probability be concerning herself with railway loans in the Yangtsze Region; but circumstances have evidently forced her to the conclusion that this is now the only means of saving her political influence from utter extinction in China. There does not appear to be any superfluous money in Russia for investment abroad indeed, in order to finance her own railway projects, which require an immense amount of capital, she has to resort to foreign loans. The fact that the Russo-Chinese Bank, which is a State institution, is named as the financial organ for the purpose of furnish- ing capital for the railway enterprises in the Yangtze Region makes it additionally clear that the aim is entirely political. The Russian population at Hankow does not amount to one hundred souls, and neither Russia's interests at Hankow nor her interests in the tea trade of the Yangteze- which is one and the same thing-would be likely to suffer through the absence of any Russian stake in the railway loans. The Waiwupu's reply to the demand will be awaited with interest, though we see no grounds for anticipating a denial, having regard to what has already taken place. The idea that was so confidently entertained a few years ago that British interests were
politically unassailable has been ruthlessly exploded since China made known that she was prepared to accept foreign loans for the purposes of railway construction. Great Britain, however, never sought to obtain exclusive privileges in the Yangtze Region. The Chinese Government had all along been well aware and had more than once intimated
are
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that they recognised "the great importance that had always been attached by Great Britain to the retention in Chinese posses- sion of the Yangteze Region, now entirely hers, as providing security for the free course and development of trade," and it was simply an assurance of the maintenance of the statu quo that Great Britain asked for in 1896 and obtained. At that time rail. way concessions were granted outright to foreign syndicates; and China did not have the same regard for her "sovereign rights" that she has to-day. Railway concessions
no longer granted. The lines are constructed by China herself-as the British China Association many years ago recom. mended that they should be constructed- with foreign capital, attracted by provisions for foreign management under Imperial control and Imperial guarantee. The British view has always been that commercial enterprise can be left to compete
commercial enterprise; private capital with private capital, but the operations of great State banks cannot be rivalled by private finance either in regard to promptitude or daring. If it is private capital that offered by Russia for investment in the Hankow railways, there seems no reasonable ground of objection. State capital, however, constitutes and has always constituted the main ground of the British objection to en- croachment in what used to be called "the
with
is
CHINA OVERLAND TRADE REPORT.
British sphere." It can hardly be called a "British sphere" any longer. Dr. MORRI SON has recently informed the readers of the Times that "by the contract signed on June 6 the German Bank secure advan. tages in the Hupeh province more far-reach. ing than the public apparently realise, not only a railway connection between the three treaty ports on the Yangtsze river, namely, Hankow, Sha-si, and Ichang, covering two. thirds of the distance westward to the Sze- chuan border, but also a branch line running from this main line northward to the important inland port of Siangyang, once the projected (erminus of the Pekin Svudi- cate's railway, and thence eastward to the Peking-Hankow trunk line.” America has acquire a stake in the railways; now comes Russia; and as other countries are at present discussing the relation of invest. ments to prest ge in China, we may possibly learn by and bye of other similar demands.
· RANDOM REFLECTIONS.
After a week of atmospherical depressions, with corresponding mental depressions, it was a great relief to see the sun on Friday. Every body welcomed Old Sol. There were many who expression of gratitude, although they appreciat- were perhaps not conscious of any particular ed the change, but no matter whether the glad thought found expression or not, there was joy
in most breasts when the overcast skies were
replaced by the bright blue and when the suc- cession of storms gave place to genial sunshine. No wonder the ancients regarded the sun with such veneration and worshipped it as the source of all life.
Was
The discussion that took place at the Legisla- tive Council on the subject of sparks certainly a very proper one. The fires caused* by sparks from locomotives at home have been numerous in the past, and it can well be imagined that in a summer heat such as ours with overy- thing in the neighbourhood of the railway of crops and even houses becoming ignited embankment as dry as tinder that the danger from the sparks of our prospective locomotives is very great, and it is satisfactory to learn that steps will be taken to minimise the risk of fire.
*
The old question cropped up this last week as to whether the Government could be sued. The Hon. Mr. Osborne placed the Government in the same exalted position as the sovereign, that have exploded the idea that the King can do no it could do no wrong. I think our forefathers wrong, and I fancy that few of us regard the Government as quite immaculate. We may not be able to sue it, but we can slander it and say nasty things about it. That seems to be about the only satisfaction we can get out of it.
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We know that the local courts have still before them the case in which the Governor on behalf
of the Government is bringing an action against a frontager for the performance of a specific con- tract. We might argue on that, but unfortu. nately that matter is not settled yet and we don't know where we are. One learned judge who had to decide a similar case wanted to know who is this thing called the Government of.
Not a very polite way of referring to such an authority. But it is a legal analysis.
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73
and the expectant taotai had to pay a large sum to secure his freedom. I rather think he lost his promised title, as I understand that no bond- men can hold any office in China.
*
Hongkong's budget this year will be waited with almost as great interest as the production is bound to happen. It may not be the plunder. of Lloyd George at home. Something unusual
ing of hen roosts, but additional money has to be obtained from somewhere, and what these sources will be we would fain know. It has been suggested before that if we needed to raise the wind at any time that it could be done by taxing liquors. I am reminded of this by an utterance of Mr. Bottomley, the M.P. who,` recently figured so prominently at home, in which he agreed that luxury in drink was a convenient source to tax, but why, he asked, confine it to alcoholic drink? Alcoholio drinks were taxed because they were luxuries, but wasn't every drink in the world a luxury point. If the drinker of alcohol was taxed except pure water? Now we come to the
because it was a luxury, what right had they to exclude the citizen who by means of ginger ale lemonade, soda water, and other gaseous con coctious endeavoured to convert himself into a dirigible human balloon? Why select alcoho- lic drink from other kinds of luxurious drink? It was a dwindling industry. The days were coming when the triumphant Tariff Reformer gone, and the temperance reformer was already. would go to the country and say Drink is pointing to the proud time when a magnum of ginger ale would represent the limits of legiti muate hospitality and a barrel of lager beer the crowning symbol of a Bacchanalian orgy. Those would be great days from the point of view of the temperance reformer, but pileous times for the Chancellor of the Exchequer." (Hear, hear.) If they taxed any kind of drink because it was a luxury, then tax the teetotal beverages as well, and add patriotism to the other virtues of the temperance party.'
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The argument is a sound one. It seems only fair that teetotalers should bear their share of the burden of taxation, especially as we have departed from the good old days when we as a nation drank ourselves out of debt. The only
drawback to the application of such a principle in Hongkong is that it would hardly be worth while. The teetotalers here are so insignificant— in number, I mean.
Ice cream is not likely to be such a popular item on household menus. The price has gone up. Apparently the local ice war is ended, as the Ice Company have increased the price to one cent per pound.
RODERICK RANDOM.
'DNOXNOH
Inspector Gourlay prosecuted five Chinese shopkeepers for having in their possession for
each fined $50. use unjust weights and measures. They were
Derteano to act as Consul-General for Peru at The King's exequatur empowering Mr. M. D. Hongkong has received his Majesty's signature.
New offices are being erected on the compound of the Central Police Station. These, we un- derstand, are necessary on account of the work the Police Department are taking over from the Registrar-General.
The Government Gazette notifies, for the guid- ance of all concerned, that His Majesty the King has ruled that flags should be flown at half-mast on the day of the death of any foreign sovereign, and also on the day of the funeral.
share. proximo.
The editorial in the Daily Press the other day on the subject of the reported proclamation for the emancipation of slaves in China re- calls to mind an incident which took place at
The Hongkong Land Investment Co., Ltd., Canton a few years ago.
A certain Chinese,
announce an interim dividend of $3.50 per share well known in Hongkong and Canton, had for the past half year, and the West Point prospered in his business and become wealthy.nilding Co., Ltd., an interim divi end of $2 per and accordingly he bought himself the title
These dividends are payable on the 3rd of Taotai. On the day on which he was to as sume his new honour, and when his friends had gathered in large numbers to congratulate him, a man stepped forward and to the astonish. ment of all present claimed him as his
appeared
the expectant taotai's father had been slave of the claimant's father and as the latter had not purchased his liberty his son could not be a freeman.
The event caused a great sensations
It slave.
that
a
His Excellency the Governor has given his assent, in the name and on behalf of His Majesty the King, to the following Ordinances passed by the Legislative Council:-Ordinance Ño. 20 of 1909 An Ordinance to amend the Com- panies (Local Registers) Ordinance, 1907: Ordinance No. 21 of 1969.-An Ordinance to regulate the Construction and Management of Railways.
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