Neyotiations are now proceeding with the Chinese Government for the establishment of settlement for the use of Japanese only at Amoy. It is expected that the selection of the position of the settlement will be difficult.
Since the collision between Liberals and Progressists at the recent meeting of the Administrative Reform Committee, the disagreement between the factions has graduntly increased. The Liberals appear tobe trying to make an alliance with the Satsuma party.
Tux Japan Mail says:—The silver yen may be said to hat p pose finally out of existence. It ceased to be legal tender nine months ugo, and it lost its exchangeable value on the 3ist of July, becoming thenceforth mere bullion. The Nippon notes that since the coin first came into Ueing in Japan, the aggregate quantity struck was 162,077,072 yen, to which must be added trade dollars totalling 3,056,638 yen. It is calculated by the authorities that 26,150,471 yen worth of these coins re-mumed unchanged on July 3ist, an amount exceptionally large when judged by the history of similar currency changes in other countries. Where are all these coins? The bullion value of the yen to-day is only 87.1 sen, so that there is a loss of 12.9sen on every yen which its holder failed to present for exchange before 3ist July. Tle generally received supposition is that, during the troops and defray expenses incidental to the campaigns in Manchuria, Liaotung, and Shantung. Coins shipped in that way would not have appeared in' the Custonis returns, and, passing into the lands of the Chinese, have probably remained circulating in the Middle Kingdom, their holders totally oblivious of the new currency arrangements in Japan. It is not necessary indeed, to assume the existence of any oblivion, for to be able to convert the coins into gold pieces having no utility in Manchuria and China as tokens of exchange would not have tempted their! holders to send' them over to this country for such a purpose. But that explanation does not apply to 4 or 6 million yen worth supposed to be still held by Japanese in Japan. The loss on 4 millions, at the present rate of exchange, is 516,000 yen, and who the careless sufferers are it is difficult to conceive.
A CORRESPONDENT writes from Bombay as follows: Weare glad to hear that the Wadia Mills Ca., Ld., has been able to secure the service of an efficient and competent mill manager who has been for years in one of the leading mills in Bombay and in the vice of one of the largest exporters of tachina. His experience and honesty Will remove all further doubts with regard to counts, length, and weight that the mill was suffering under for the past few months, and the constituents of the mills have! already given a very favourable report of chy of Asia, Ifa reform is to be wrought, there must be a moral as well-as an intellectual change of system. It is the harder as well as the more important of the two to accomplish, and although the introduction of Western learning—which must involve that of Western professors—may prepare the way for a national: regeneration of China, it certainly will not suffice to bring that regeneration about. There is an ominous passage in our corres. pondent's letter in which he points out that the reformers of the ''classical" school who: are so eloquent on the intellectual qualifications of the candidate for office are silent on the moral. qualifications of the official. There are' few amongst them, he affirms, who would honestly uphold proposals for fixed salaries, audited accounts, and the total abolition of "squeezes," Yet without these reforms and without the spirit which alone can effect them, mathematics and even political economy are vain as instruments of national growth, changes in the higher j offices at Peking do not point in the direction of any such real transformation Tar Lon n Daily Telegraph of the 26th of July say:
Not often do visitors to the Metropolis have an opportunity of encountering a London fog in. the mouth of July, but yesterday morning the sun suffered a temporary eclipse, and his place had to ho Supplied by artificial illumination. During the yam manufactured under the present management at the above mills. steadily mounting upwards, and, owing to the past fow days the barometer has been We have received the London and China ress of the 5th ult.—The Metropolitan accumulating overhead, traffic in the upper the way in which the Mimosphere has been Railway Directors are to try substituting regions became congested, and nil that the electricity for steam power on the smoky clouds were able to do was to loiter, defy-Underground.—The Hooley gold plate is to ing all attempts of the feeble breezes to be given up to his creditors by St. Paul's move them on. Meteorological exports Cathedral.—Captain W. M. Long, R. N., would say that yesterday's gloominess was was retired on the 19th ult., and it is the outcome of an anticyclone, which has doubted if he will, after his previous displayed very little energy of Into, and experience, consent to come k to shown no disposition to mine room for the China.—Silver had risen to 27}d.—cool breezes which every now and then Syndicates for exploiting China are more attempt to force their way in from the numerous than ever.
Atlantic. Bo this as it may, it remains A Loxpon telegram of the 18th ult, that yesterday's weather was of a trying says that owing to the statements made character. by Mr. Hooley in his examination in!
Messns. S. W. Royse & Ca. write as Shroot an intermediary, a certain Mr. bankruptcy that the Earl of Delawarr, follows on Metals in their report dated Manchester, the 30th of July—Dusiness fu Broadley, had offered a bribe of a thousand pig iron has latterly been moving well, pounds for Mr. Hooley to retract his charges and prices at Glasgow and Middlesbrough Receiver applied to commit Earl Delawarr inst the Earl of Delawarr, the Ofiicial j present month. The Fair holidays have advanced some 6d. per ton during the have and Mr. Broadley to prison for subornainterfered with trade at Glasgow, but at Middlesbrough there has been " continued dealing wit application, found that tion of perjury. Mr. Justice Weight, in firmness, and the market is at present strong the money had been offered for the purpose and a good business doing; the outlook is of inducing retraction of the statements satisfactory, makers being already well sup-made by the bankrupt, but thought that plied with orders for delivery ahead. The justice would be satisfied by condemning iron trade in the Midlands is also in " good 1 Delawarr and Mr. Broadley to pay position; the recent quarterly meetings the costs of the application. The papers, were well attended, and a good amount: commenting on the case, agree that buth business done; prices in all branches are the accused are extremely lucky in escap-firm and future prospects are bright. Flucing so easily. tuations in copper during this month have Tae Time, in a leading article on been unimportant, und values are practi-educational reforms in China, in its issue cally unchanged. "In tin there have been of the 19th of July, says some heavy operations, and the price is Even official Chinese who have come some 12s. 6d. per ton higher. Spelter in contact with Europeans and have seen closes slightly easier. Lead hus dropped the material results of European science about 7s. 6d. per ton, and is easy. cannot quite shut their eyes to the fact Tae Bureau Veritas Monthly List, that there is a good deal of useful know-published on the lst of August, of wrecks ledge to be acquired from the "foreign and casualties recorded in Juno last, devils." If it is offered to the race on nounces that 43 sailing vessels were report authority they may be anything but reed as totally lost; 21 by stranding, 4 by Juctant to accept it in substitution for the collision, 3 by fire; while 3 foundered, 1 antiquated erudition to which they have was abandoned, '6 were condemned, and 5 confined themselves hitherto. It will be! were missing. No less than 133 sailing still more interesting to see exactly what vessels were damaged; 41 by stranding, 28 the authors of the reform mean to a by collision, 6 by fire, 23 by leaks, and 35 complish, The mere opening up of the by stress "f weather. The steamers totally acute and laborious national intellect, her-lost were 16; 9 by stranding, 4 by collision; matically sealed for so many centuries to while 1 foundered, and 2 were condemned all useful knowledge, must in itself pro-'The steamers damaged were 204; 68 by duce far-reaching results. But it will not stranding, 52 by collision, 14 by fire, 3 by by itself effect the national regeneration of leaks, LI by stress of weather; while 56 re-yen were sent' from war with China, large Longs of silver japan to pay the the most thoroughly corrupt official hierar- ported injury to their engities or boilers,
Text read from the printed page and cleaned; old type leaves the occasional error.