The results of the Boxer outbreak of last year have now brought us face to face commercially with one of the most critical positions in the in story of foreign relations with this country, China stands at the parting of the ways. The old trea ties are practically in abeyance; this ancient Empire stands with the world fac ing her.
'A staff of Commissioners, representing the civilised world, stands on Chinese soil prepared to make treaties with her.
whole ground of international intercourse will be covered by these treaties and the history of the next 25 years, if not entirely bound up in the treaties now to made, will at any rate be very largely influenced vy them.
In crery sense of the term and in all departments of our life the situation ix fraught with immense possibilities. In a commercial sense we are now at the merey of the treaty-makers. It is in their power to foster arid develop trade, and to give just the scope which it needs for the fullest development. of the latent possibili-tics of this great Empire. It is also possible by a false move to very seriously retard the opening of the Empire, and to hinder the expansion merchants have so long expcetod and worked for. A great nian questions of the most serious import must be considered, and the one which seems at the present moment to occupy the largest share of the official attention 1s, How shall the revenues of China be creased?" Just at this point danger looms Jarge on the horizon, and it is a matter of grave concern that the prospects of foreign trade shall not be sacrificed to the supposed rived's of the national China is a debtor to all the civilised nations of the earth. She is called upon to commence at once to liquidate these debts, and every month must see a continual stream oF money flowing into the various exchequers in Shanghai. At the same time China requires large sums of money for the reorganisation of her own national forces, and for the current expenses of the ordinary departments of Government. irom all quarters, Imperial and Krovincial, there is a demand jor funds. The reply to the demand on all hands seems to be that the Imperial and Provincial treasuries are empty. The Chinese Government have very cleverly promulgated this idea and seek to omphasise the same at all seasons. They would work upon the generous sentiments of the foreign nations, and by the continual ery of poverty, seek to lighten their own burdens, or to throw the same on the apparently willing shoulders of the Great Powers.
Some of the Western nations seem willing to lend a ready ear to this reiterated ery, and are prepared to relieve China as much as possible of the burdens which she iterself is well able to bear, It is readily conceded thst the national revol rines of China must be increased in order to meet her present liabilities. In the opinion of some, at any rate, the only remedy is found in an increased import duty, thus throwing the responsibility upon foreign commerce.
It is seriously proposed in some quarters to request the Chinese Government to abolish likin, and as a compensation and with a view to assisting China to dis-
Text read from the printed page and cleaned; old type leaves the occasional error.