19th April. We understand that the attention of the Tsungli. Yamen has been drawn to the financial condition of Portugal and to the proposition which has been made for the relief of the financial tension by the sale of all or some of the Portuguese Colonies. The interest of China in the matter is, of course, confined to Macao and it may be remembered that when Sir Robert Hart's convention was signed a few years ago with Portugal, China obtained the right of pre-emption in the case of that Colony. Prior to that time Portugal was merely a tenant of China at an annual rent although for some forty years this rent has not been paid, Ithis, however, did not alter the legal position of China as, to use a lawyer's term, the owners of the fee simple of Macao, there being no such thing as a statute of limitations amongst nations. In Sir Robert Hart's convention China gave up this fee simple in return for the customs arrangements which are now in force, but the treaty also contained a provision that in the event of Portugal at any time parting with Macao China would have the first offer. This is the substance of the convention in general terms and a good many persons thought at the time that it was a case of China selling its birthright for a mess of pottage. Weuarenow informed that the Portuguese authorities have stated that Portugal has no intention of parting with any of her colonies, least of all with Macao. his is the official answer, but we believe that it. needs to be supplemented. Where is, we learn, a strong. disposition in Lisbon to get out of an intolerable financial situation, which grows worse instead of better, by ceding certain of the colonies on condition that the powers to which they are ceded should assume the responsibility for a portion of the public debt of Portugal roughly corresponding to the share which the particular colony has had in creating that debt. This device is intended to refect the amour propre of Portugal, it can then be said that she has not in fact sold her colonies, although plain people will see little distinction between the two, But it is contemplated that this scheme should apply only to three colonies, namely Goa, Mozambique, and the half of imer now in the possession of, Portugal; and the scheme in regard to the latter colony is that which is farthest advanced. The idea of applying it to Macao has not yet been entertained. Much of course will uecessarily depend upon the success of the fiscal measures of the new Portugese Finance Minister, but as these involve an enormous increase in home taxation it appears: to be the general opinion in Europe that they cannot have. any abiding result as long as the Portuguese colonies remain a steady drain on the finances of the mother country. the! cessation of the Indian treaty by which Goa loses 400,000" rupees Joe anna will necessarily aggravate the position: It is satisfactory at any rate to know that the Chinese Government is alive to the crisis and that it is prepared, as the Portuguese now know, to make an offer for Macao.
Text read from the printed page and cleaned; old type leaves the occasional error.