Hongkong is to participate (at her own cost) in the blessings of penny postage, The. rate of postage is to be reduced on and after to-morrow (Christmas Day) to four cents to the United Kingdom, India, and to all British Colonies except those in 'Australasia, The concession does not evoke all the enthusiasm here that Mr. Henniker Heaton might expect. A good thing in the abstract, penny postage here does not count for much; since it will not lead to' any great increase in correspondence and the reduction of the rate' will cause a falling off in revenue which will' have to de made good by increased taxation in some form or ain economy in some direction,
Text read from the printed page and cleaned; old type leaves the occasional error.