The annual meeting of the Shanghai General Chamber of Commerce was held in the Municips) Board Room yesterday afternoon, Mr. J. L. Scott was in the chair, and there were also present Messrs. R. Inglis, J. Chapsal, A. Wright, ©. J. Dudgeon, J.S. Fearon, J. A. Ballard, A, Riva, and Drummond Hay (Secretary).
Before proceeding to the resolutions of the meeting, The Chairman said—The various business matters taken in hand by the Chamber during 1900 have naturally been less than usual owing to the disturbances, political and tradal, which have reigned during the grenter part of the year. A resume of what has been is as usual given at the commencement of the annual report, and to this I would beg shortly to refer.
River Conservancy.—This most important matter has continued to have the attention of the Chamber, and you will see from the copies of correspondence chat we have pressed upon the Diplomatic Body at Peking, the gest need of its being taken in hand with as little delay as possible. Somewhat: similar representations have been made to the British Foreign Office by all the English ner companies trading with Shanghai, and T believe that other nationalities have also approached their governments on this subject. We can only hope that such a powerful cornbin: tion will, with the assistance of the Ministers at Peking, be successful.
tration of Pieve Goods Chops.—Tnacince with the resolution passed at last anonol meeting this has been started, and is now being proceeded with. Importers have been rather slow in sending in their chops, but when the sets ars complete and the scheme begins working, its advantages will, T feel sure, be appreciated.
The various other matters dealt with by the Chamber do not, I think, call for any special remarks non the only one perhaps to which I might refer is the subject of ntee for Native Bank orders. You the failure last October of the repudiation of the orders issued by them, and the consequent shock to credit. Tu order to prevent. if possible a recurrence of such incidents in the future, the Chamber wrote to the Banking Guild suggesting that the Banks forming the Guild' should mutually agree to guarantee the orders issued by the various Banks. No reply was received to this letter for some time, and when we did get one it amounted really to nothing. the Guild said that each Bank must manage and be responsible for its own business, and politely told us. that they could manage their own affairs without any help in the way of suggestions from the Chambe But the subject which overshadows all others at present is the continuance of the disturbed state of affairs in the North, and the consequent curtailment of and interference with the usual course of business.
wish I could tell you or sine of you tell me when we are to see the end of this state of things and when business will resume its normal condition. At present I ann afraid that siges of the dawn of brighter times are not easy to discern.
One, to us, especially important point which' has to. be settled between the Powers and China is Tariff Revision. You will see by the report that in January last the Chamber wrote to the British Minister at Peking saying that in view of the probable revision of the Tariff in the near fature, and the promise by his predecessor that the Chamber be granted an opportunity of putting forward their views as to the best way of dealing with this revision, the reports on the various sections of trade and foreign industries in China, which in 1896 they sent to the Diplomatic Body at Peking, were being revised and written up to date, and these would be forwarded in due course as soon as ready. In reply Sir XE, Satow ssid the Chamber might rely on his adopting every practical means of ascertaining their wishes whenever the revision of the Tariff came to be considered.
'A short time ago, however, we heard that the Ministers were discussing the indemnity question and in connection with the various ways and means of raising the funds required to form security for a guaranteed international loan, the majority had decided to raise the Import duties to ton per cent and this without claiming from the Chinese government any reduction of the present likin and other inland taxes wheel are such a burden on foreign trade, and, moreover, entirely contrary to. the Trevies. As you all know, the Chamber has for the list thirty years or so strongly protested against the imposition of these taxes, but when the raising of the import duties was broached, they recognised the justice of the demand on the part of China, and said there they would have no objection to this increase provided that foreign trade was freed from thes" nefarious and injurious inland taxes. From time to. time win numerous reports and dispatches, they have in past ears clearly shown the injury thus done to foreign trade, and the absolute necessity of their being done away with if trade were to expand at all. Now here was a splendid opportunity for bring: ing pressure to bear on the Chinese government and insisting as a quid pro quo fur the increase of the Impoct Daties that arrangements should be made to eign trade feom the burden in hind squeezes, but the majority of the Ministers seemed to look upon these duties in only one light, and that was as providing a sum of money which would serve as part security for the loan, forgetting, or not earing to emember that fureiyn trade and its expansion would be most injuriously affected thereby. However, owing to the objections uncle by some of the Powers, this matter has been referred to the Home Government for settlement. On hearing this, the Chamber once telegraphed to the Chambers of Commerce of the countries largely interested commercially with China, and the following messiye was sent to Berlin, Paris, New York, and London:—"'Believe majority Ministers Peking urge immediate effective high increase Tariff' purpose providing large part service indemnity Loan. This international chamber strongly protests any such hasty treatment Tariff question which besides destroying oily Teverage obtaining redress present anti-treaty grievances seriously threatens trade mansion. Sufficient admit principle Tariff increase reserving settlement details later by chief commercial powers."
Tthink you will agree with me when I say that sich a complicated question as the revision of the Tariff should not he dealt with in this hasty manner, and moreover that it should be taken in hind and seitied by those Powers only who have large commercial interests in China, and who from their knowledge and experience of trade matters and the general economic condition of China are much more likely to devise " scheme satisfactory and fair to trade than if it were settled by the vote of those whose commercial interests are of the slightest description. Indeed if
Text read from the printed page and cleaned; old type leaves the occasional error.