Tre stoppage of the Sugar trade in Formosa and the lekin and taxes which the Viceroy of Qauton la imposing on trade in the south are all evidences of the irrational way in which Chinese officials try to surmount financial difficalties, They seem to be careless how the money is raised ao long as they got it, and this has been the immemorial practice of all eastern governments, is not likely that we have as yet the last or the worst expedient; it is much more probable that matter will go feom bad to worse, aul the Peking Government comes to the istence of its, Viceroys, It is quite time it should do so, indeed with the adoption of expensive foreign means of warfare some adaptation of foreign finance should have been introduced.
It is rather unfair to require Viceroys to purchase expensive ships, cannes rifles and all other munitions of war, and to leave them no other means of paying for them than were sudicient for the era of junks, gingalls, bows and arrows. It is true that some money las been borrowed for coast defences, bat considering the heavy outlay which the troubles with France involved, this seems to have been insufficient, and extraordinary methods of raising money have had to be resorted to, So far as our information goes the Provincial Governments which bad to bear most of the expenses incurred two years ago are wanting money. They unfortunately turn their attention to the commerce in which foreigners are engaged, and apply uew taxes and lekius to thew, as the readiest sources from which their wants can be supplied. The Viceroy of Cnuton seems likely to stop the jank trade from Hongkong and Mncao, as Liu Ming-ching has stopped the sugar trade in Formosa, Probably both officials will be beaten in the end, as the rice merchants at Swatow defeated the exnotions imposed on them; but in the menutine they do a great deal ut harm and chiefly to their own people. The officials in this Peoviuce have cons tented themselves with forming opium farms here and at Chinkinng, and in the latter port they have been so successful Uhut the Chinese partners in the monopoly lave now the trade wholly in their hands. It is true the mandarins made an effort a short time ago to impose an oxtraduty on the sugar imported at Chi kiang, but it failed, and on the whole it seems as if the publio finances had been more skilfully dealt with la the north. ern provinces than in those to the south. Yet the Viceroy of Nanking must have had large disbursements to make, and his current military expenses must be leery. Although the loss and 2 from the present state of affairs in the South is great and grievous to be borne, good will result from it, if it compels the central authorities to take measures to place the financial system of China on a more rational play, one better adapted to the changed circamnees of the country.
Text read from the printed page and cleaned; old type leaves the occasional error.