Ara time when the Imperial exchequer and provincial treasuries are low, when unrest prevails over a large portion of the Empire, mainly owing to the difficalty experienced by China's crowded population in earning even the meagre livelihood with which the stern school of necessity has taught it we be satisfied, it would be thought that the Central Government would leave no stone unturned to increase its resources and to promote the contentment of subjects. By common consent a vast revenue lies baried beneath the soil, the exphitation of which might contribute ly toa happier and more prosperous for the whole country. This fact is not unknown to the powers that be; the full extent of CI mineral wealth cannot be accurately appraised by anyone, bat some idea of its potenitialties must have been brought home before now even to the unenlightened intelligence of the most conservative official in Peking.
there could be any doubt on the subject, it would be dispelled by the obvious anxiety of foreigners to participate in the development of the country's mineral wealth. the Anglo-Chinese Treaty of 1902 China recognized the advantages of such development by means of foreign as well as Chinese capital and agreed within one year from the signing of the Treaty to initiate and conclude the revision of the existing Mining Regulations, In accordance with this undertaking a et of provisional regulations was drafted in 1904 by Viceroy Chang Chih-tang, on which it was propoed to base a permanent code for mining enterprise. These protaioal regulations, however, were found to be so much at variance withthe spirit-and with the lotter of the Treaty that the foreign Ministers in Peking protested against their adoption as a basis for fuller regulations. The provisional draft was, accordingly, withdrawn, and three and a half years later it is announced that revised regalations have been drafted, submitted to the [bronc and have secured its approval. Within a short time after this announcement it is reported that the Russian Minister to the Court at Peking has protested against the new cod:, and it may safely be assumed that his action will be supported by the rest of the Diplomatic Body.
The revised Regulations have been translated and published by: "The Peking and Tientsin Times," and if we may accept the transla tion as substantially correct, it is evident that mining in China will be virtually closed to future foreign enterprise and consequently that the development of the country's mineral resources will be indefiniteregelatione embodying seventy-four thoned.
and seventy-three clauses respectively the Chinese Government has} contrived to incorporate the maximum of general ignorance upon the subject with the minimum of that encouragement of foreign enterprise to which the Treaty of 1902 committed it. By a series of arbitrary enactments it places, at the outact, every possible impediment in the way of prospecting. In the event of such obstacles being overcome, and at the moment when the prospector has evidence of the value of his mining proposition, the owner of the Iand—a private individual or the Government— may step in and purchase the mine discovered through the knowledge and efforts of the prospector at a price equivalent to the mere outlay incurred in prospecting. If, however, we may suppose that all such preliminary difficulties have been circumvented and that a mine has reached the production stage, we find that fifty per cent. of the profits have to be surrendered to the Government or for equal division between the Government and the original owner of the land,|her From the remainder an amount equivalent to ten per cent. of the total output has to be paid as a Government royalty, while in addition an export duty has to be defrayed as well as numerous fees and licences. Diamond mines and a few of the richest gold mines alone could be worked profitably under such terms. When itis remembered that the majority of mines require the expenditure of considerable sams before any return on outlay can be made, it is evident that capital would fight shy of such conditions even if other clauses in the Regala~ tions did not add to the general uncertainty of all mining enterprise in China under this amazing code. A detailed consideration of both documents would reveal many other weaknesses and impossible conditions. Indeed the Regulations as a whole are so erne that it would be gratifying to China's friends to learn that the English translation does not represent the version that In two sets of|has received the approval of the Throne.
It is, certainly, unfortunate that the new Mining Regalations should come up for consideration at a moment when the country is disturbed by general agitation against the admission of foreign capital in any form whatever. Of the need for mineral exploitation there can be no question and equally little doubt prevails regarding the inability of the Chinese at the present juncture to cope with'all that makes for successful: on a large scale, China's supply is estimated to be sufficient to supply the wants. of the world for a thousand' years fo come at' the existing rate of consumption. It would be the irony of thwarted destiny if these magnificent reserves were held back until other means had been devised to meet the world's increasing demands for fuel. The primitive labour of individuals in' the various mining districts means a livelihood for the few favoured by geographical position; its benefit to the world at large is infinitesimal. By encouraging' the development of mineral resources by modern
Text read from the printed page and cleaned; old type leaves the occasional error.