It would seem as if there were some ugly rocks ahead of the Chinese government, financially. for the last few months the rate of silver has been abnormally low, cash reckoning only 1,120 to the tael instead of 1,500 as has been the average for many years. This is a fall of more than 25 per cent, and at present there is not much likelihood of a change for the better, "something" may be hoped for with the opening of navigation. The trouble comes from the fact that while the government pays out its money in one kind of currency, the user must pay for all he buys in brass cash and the purchasing power of this last has not changed except forthe worse. Take the military for Log the pay of the men has, we know, been screwed down to the lowest notch by their officers and any further reduction must result, not as in others lands in inferior service, but ins further reduction of the force. Hence we must expect either an increase in the pay ora still larger number of soldiers on paper. Probably in other parts of the country the rate of exchange has not fallen as much as it has at this particular place; but even a cut of 20 percent in the civil service of such a country 2s China is at present, would give cause for al
Text read from the printed page and cleaned; old type leaves the occasional error.