'A series of Regulations, embodying a scheme for the purchase of machinery for spect{ully submitted for the inspection of inning and weaving foreign cloth—re-
the Authoriti Ist.—A memorial must be laid before the Throne, reporting the establishment of the factory, to give it an official status, The establishment of a factory in the interior for the weaving of foreign cloth by machinery and in accordance with the pro-adopted in Europe, is without doubt an innovation. Moreover, it concerns the interests of both Chinese and Foreigners, and without the Imperial permission for the starting of such a factory, and the official nomination of Directors, there would be no sufficient guarantee of care or authority for the assumption of responsibility. By the joint appointment of several gentlemen to assist in the direction, the concern will be guided by their united counsels, for where there are many ears and eyes, the ex-Future, if additions are made to the factory, perience of the mind extends also, In
the board might be depended on to furnish experienced managers (to such branches.)
Qnd.—The machinery to be bought must be of the newest, most suitable and most profitable kind, in order that the production may be large.
Machinery in Europe is improved yearly and daily. "By the old-fashioned loom one piece could be woven in a day, by the new improved loom two joees can be woven in the same time, and with half the labour there is ti vice the production. The differences very marked. For the machinery to be purchased for the present scheme, a price will be agreed to, a contract will be drawn up, and bargain money paid in advance. Each set of machines is to be complete and guaranteed. Our legation in England will be requested to depute an officer to watch its manufacture, so as to prevent the manufacturers stinting the materials or scamping the work in order to make profit.
Srd.—The public must be invited to take shares, in order to form a Foreign Cloth Joint Stock Company.
In England, India, and other places where there are cotton factories, a capital is raised of from several hundreds of thousands of taels to several millions by means of shares, and Joint Stock Companies are formed. Money is thus easily got together, and there is no trouble about the treasury. Our present scheme of establishing a foreign cloth factory being a novelty, it will be floated in the same manner as the China Merchants' Company was, All persons, whether officials or gentry, merchants or private persons, may take shares.
They shall be of Tls. 100 each, and the subscriber for one share will not be disliked, nor will the avidity of the subscriber who wants 1000 shares excite disgust. The Company will receive the money and thereafter issue scrip certificates and interest warrants, Interest will be paid at the rate of 9.67%, paid yearly. Of the profits remaining after that, four-tenths will be reserved as a fund for the purchase of additional machinery and the increase of the Company's capital, and six-tenths will be divided amongst the shareholders, or, at their option, they will receive additional scrip for the amount of profits due on their original stock. th,—Before erecting Factory buildings, the site must be carefully gone orer.
The site must be high-lying ground, and near water communication, for the convenient receiving of cotton, and the despatch of goods. The Innd' should be a large space, to allow of the extension in future of the factory buildings, and to prevent the people holding land in the vicinity getting monopoly prices. The commencement of the factory building operations will have to be delayed until the arrival in Shanghai from England of plans, specific tions, and explanations of the machinery. The erection of the counting house, godowns, and employes quarters may, however, be preceded with at once.
5th.—Foreigners must be employed to teach the art of weaving.
Every machine has its special function for example: for taking out the seeds, heckling"the cotton, carding it, starching it, spinning and winding it, ete., all of which must be taught by foreigners. European weavers will therefore be engaged in the present enterprise for this purpose, with agreements for three years, so that the Chinese factory hands may learn their work thoroughly and do it skilfully. On the expiry of the time for which they are engaged, there will be no need to re-en age them, and thus their expenses will be saved. Gth.—Native cotton of superior quality must be selected, to avoid the expense of freight.
In the cotton factories of England, American cotton is used, being chosen on account of its soft nature, and its length of staple. 'The.cotton used' in India in the manufacture of cloth is all grown from plants originally produced from American seed, and although it is nut of such a good quality or so soft as American cotton, it is pretty much the same as our Chinese cotton, or indeed worse. If the cloth made from it be thrown amongst English made cottons, the two kinds cannot be distin guished. If Chinese cotton be used in the manufacture of Piece Goods, there is no fear of the cloth being irregular and uneven. On commencing work, we suggest that the Company begins with T-Cloths and Grey Shirtings, and for these fabrics it will be found most convenient to buy native cotton. Some time ago a man consigned Chinese cotton to a barbarous*
[Rote by Transator, It is high time the character SAR eceeiaa Ses of ths teumapery mature of the Weis dropped by Chigwuen la alluding, in oficial Braicen el etna or other mn entry. Tis Thotai, oaghs'to know belter. If sny of our readers now this geutletuen, will thos kindly bring this to hie notice.) country to be woven, and it could not be distinguished from a foreign cotton cloth, 7th.—On all cottons manufactured by the Factory for sale, the same duties will be paid as are levied on imported cottons.
Work will be carried on every month on every day except the Foreigners' Sundays and for the twenty-five working days a strict account will be kept of the exact account of cloth manufactured. This will be reported to the Custom house every month and a tax paid thereon at the legal ttc rate for foreign cotton imports, "On eis will boosted cee ing sent up country for consumption, no 8th.—Accounts must be kept and published order to encourage the works From the day on which the work of weaying is begun, a small balance will be struck every three months, a lange balance every yeat, and a general balance every three Years, so that everybody, far and near, may fe tore is no cheating estcript.—The cost of the machinery, land and buildings, the interest and duties, salaries of managers and wages of employes, the cost of raw cotton, coal, mess accounts and miscellaneous expenditure, have been detailed in 24 paragraphs and submitted to Their Excellencies for their consideration. Itis estimated that the machinery to be bought can produce of all kinds of piece goods 260,000 pieces per annum, which trould realise, on an average, Tls. $20,000. Deducting the expenses as above, there will remain, it is estimated, a net profit of at least 30 °/, per annum. When_ the: machinery is actually bought, the buildings erected, the workmen hired and everything ready for work, a fresh estimate of the exact cost will be made and published for general information in the interests of truth and in order to avoid all chance of hocussing the accounts.
Text read from the printed page and cleaned; old type leaves the occasional error.