A Newchwany dispatch states that there was quite a panic the other day in native mercantile circles m that city, owing to the issue of a proclamation by the Russian Superintendent of Trade—who is undertaking the duties which used to belong to the Taotai of that port. Tt appeared that during the disturbances in Manchuria in 1900 and_afterwards there ear city of silver, causing a seri sion in the trade of Newchwang and Moukden. The Russo-Chinese Bank, however, showed a willingness to a-commodate, and native merchants and traders, tempted by the favourable terms offered as well as being pressed by the exigencies of their forward contracts, borrowed in large numbers from the Russian Bank. Then the day for repayment of the loans began to loom up on the horizon, and borrowers Dogan to feel unewy, finding themse.ves unable to pay up on time, Thea the other day the proclamation noted above appeared, informing native borrowers they would be required under pain of the law to meet their debts to the Russo-(vhinese Bank on the dates formally agreed upon. Chinese merchants by experience have a wholesome fear of ollicils, and the appearance of an official proclamation naturally created something very like a panic amongst the traders, A petition it is said has since been sent to the Russian Bank praying for an extension of time, but so far there has Deen no definite answer made to it. Rumour even has it that the terms of the Joan contracts entered before so willingly (guilelessly?) by the Chinese merchants have so bound them that the situation will probably assume political aspect, in The General Abolition of Likin.
It is reported from Peking that the Gravd Secretaries Yung Lu and Wang Wen-shao and Viceroy Liu K'un-yi_ are not at all ayainst the scheme of "Liki Abolition, while tie notorious Conser Jin Cutuan-lin, President of the Board of Revenue, is tooth and nail against it. As for Viceroy Chang Chih-tuny, he is not strong against it as Lu Ch'uan-lin—"sit ing on the fence #s usual," as one may say—but fears that, with the complete abolition of the tax, the revenues of the Imperial Maririme Customs will not turn out equal to fulfilling the double burden laid on it in furnishing the wherewithal to meet the ordinary' expenses of the provinces.
The Meetings of the Commercial Commissioners, have, it is stated, been changed to the afternoons of Monday and Thursday of every week, from 2 to 5 o'clock, instead of from 10 to 1 o'clock as former far nob one of the tw-rity-four subjects discussed between the Comm noted in these columns yesterday morning, has, it is repor ed, been definitely s-ttled and initialled, and most of the mandarin secretarial s aff and assistants on duty think that they.are now bound down to Shanghai for at least eighteen months. sth April Rumours about the Manchurian Treaty.
Phe Tientsin native papers report that the favourable terms on the face of the recent Russo-Chinese Convention about Manchuria, obtained by the latter country, nob seem to have been any source of extra gladness to the Chinese Plenipotentiaries while, on the other hand. the Muscovites who negotiated the Treaty assume most complacent attitude. "This has brought considerable doubt amongst the members of the Progressive Party, and even Conservatives number not a few, that there must be something more under the surface which even the Em-ress Dowager and the Grand Secretary Yung Lu have not been allowed to know, xnd which only the chinese and Russian negotiators of the Convention alone are aware of. As if in confirmation of this, dispatches received from both Nanking and Wuchang simultaneously report that Their Excellencies Viceroys Liu K*unyi_of the first-named city and Chang Chih-tung of the lnt'er city have also shown considerable dissatisfaction lately when speaking of the Convention, which lead people to think that there must, for a certainty, be someth yond the terms published to the world which outside meaning those who were sot present at the negotrations—have not been permitted to. have even an inkling of. Apropos st the above, it must be remembered "by our readers that the Cassini Convention of 1896 is yet in force which still gives Russia the hold on Manchuria which she wants, and which, unless formally cancelled, " thousand sub-equant treaties between Russia and China to the contrary, can have n-t substantial effect. This is the tramp card up the sleeve of the wily Muscovite which must be given up if China is to have any real control over Manchu the future.
An Ex-Boxer Made a Military Commandant.
A Peking dispatch states that the Manchu ex-Boxer, Na Tang, who accompanied the Court to the Eastern Mausolea, ing apparently satisfied the Empress ager that he knows something about military matters, has been authorised to raise " regiment of 1,000 Manchu Banner. men who are to be organised, drilled and armed after the most modern methods. It is to be hoped that the men to be raised by Na Tung are not to be composed of his former camp unions of 1°00.
29th April.
Text read from the printed page and cleaned; old type leaves the occasional error.