in the China Afail discourses as follows Under the head of local jottings," a writer Several on dite are afloat. I shall notice one of them now, which is to the effect that some of the English firms will remove their head-quarters to Shanghai. A change in the spirit of the dream" is apparently coming upon the directing section of the Chiva trade. It has often occurred to me: what is the trade of Hongkong to justify its being the.seat of the taipans? Tt indeed looks like nothing else than following the example of certain Western Powers, who have their executive and seats of government at ports of small commercial importance. Prior to the Arrow war, the head-quarters of the mercantile firms, with the exception of those of two, were in Canton, and very properly too, for the country produce was shipped from thence, and the imports passed through it to the consuming places. Even then Hongkong presented the attraction of its mansions, club luxuries, carriages, &c., but they were too feeble to produce for years the change which the shells of Sir Michael Seymour accomplished in a few days—the exodus of the mercantile community from Canton and the destruction of the factories gave the finishing stroke to the old city's misfortunes. 'This naturally gave start to Hongkong, which the driven-aways from Canton became more and more partial to by the' advantages it offered, in a social way, over those of the ' pack-houses " at Honam, after the termination of the war. From a sense of insecurity to property, and like the Banks, which never cared to re-open their branches at Canton, this place continued to be the seat of the taipans. But I may ask cui bone? the pro-duet of the Colony being nothing else than cabbages and cornelias. The produce and manufactures of China being shipped from Consular ports, through which English mani factures find their way into the interior, it indeed appears anomalous that the heads of firms should not be at those ports to closely consult the chart by which to be guided with regard to fine Oopacks and choice Tsatlees, but remain at a place in which the only description of native industry brought to light forms the annual horticultural show. Whatever confidence captain may have in the abilities and judgment of his officers, he never retires into his cabin to read novels leaving to his subordinates the task of navigating the vessel. So the directing powers see at last the necessity of being located at the "centre of trade," which as regards tea, silk and English manufactures, is Shanghai.
Text read from the printed page and cleaned; old type leaves the occasional error.