Appreciation of Dr. Loke Yew, C.M.G.—Romance of a Millionaire—Lessons for Young China By Professor Middleton Smith 'A' newspaper just received from the Straits Settlements records the unveiling of a tablet commemorate ing the benevolence of Dr.
Yew, ca.c. The acting Bri resident of Selangor unveiled the memorial to this very remarkable Chinese captain of industry. It. is situated in the grounds of the district hospital, Pahang Road, just outside the ward whose name it bears, The inscription reads "Lo Yan Yun. This ward was erected in 1918 from funds provided by Towkay Loke Yew, c.3.G., LL-D-, (Hongkong) for the accommodation of aged Chinese."
What a romance was included in the life of the Chinese Towkay who erected the ward! Let us consider a few recollections of this pioneer captain of industry, who died a millionaire During the last 50 years the native of China has made himself a factor of importance in many other lands. He 1s irrepressible, except in his own country, where the official classes have constantly opposed development. To Westerners he is frequently incomprehensible. Europeans who have lived many years in China say that the Sons of Han are a bundle of contradictions. No nation seems to cling to the ideals of the pest with such tenacity, and yet the natives of no country in the world attach such importance to posterity. It would, indeed, be possible almost indefinitely td elaborate the remarkable characteristics of the Chinese; but the immediate purpose of this article is to demonstrate that the nation which super. ficially, appears to have remained unchanged for 4,000 years, has produced at least one modern captain of industry. The romance of his career rivals that -f any Westerner. For the late Towkay Loke Yew, Commander of the Most Distinguished Order of Saint Michael and Saint George, and Doctor of Laws honors cause, of a Britich University, commenced life in the most. humble circumstances and he died a millionaire, To quote ap. English newspaper. published in the Far East, he "passed away amidst universal re-grots of all classes." i Aaazixa Ixpvstry.
In many respects the life of this modern Chinese may be compared with that of Mr. Andrew Carnegie. He left his native land, an emigrant at early age. He built up his unique position out of the inexhaustible resources of nature. Mr. Carnegie made his fortune out of steel; Towkay Loke Yew acquired his wealth through the medium of tin, These two poor, untaught, and almost friendless young men concentrated their attention upon the exploitation of the natural wealth of the country to which they
careers with almost every possible emigrated, They commenced thei handicap. They lacked friends, connexions, education and money. They possessed industry, shrewd financial genius and good health. Alter they had succeeded they used a portion of their wealth for the endowment of learning. Mr. Carnegie's benefactions are well known in Great Britain. It is probable that only those British citizens who are directly interested in the development of the Far East have heard of the curious bequest which Towkay Loke offered to the Hongkong University. It was both valuable and_ original. He made a loan of $500,000, for two years without interest, to that institution. He had previously given $55,000. He had also presented large sums of money to a hospital, a technical school and an old men's and cripples' home in the Straits Settlements. He presented aeroplanes for the front, and subscribe ed generously to war charities.
Kuangtung, the province of China adjacent to the colony of Hong-'Kong, contains about 32 millions of people, and the largest city in China.' The Cantonese are generally considered to be the most enterprising of the inhabitants of the great republic of the Far East. That may be a result of their intercourse with Hongkong, which is only about 100 miles distant from Canton, In' a little village of this province, Loke Yew was born, and lived, until he reached the age of 13. The only son of a family of five, he spent his boyhood in assisting his father to cultivate the fields. Then the astute youngster heard of the chances which Singapore offered. The story of how he obtained necessary permission from is father to leave the ancestral district has never been written: but anyone, with even a superficial knowledge of the Chinese, must know that the necessity of the family must have been as great as the persuasive power of young Loke Yew. For the religion of the people renders it most important for a son to worship annually at the ancestral grave.
Tt was in 1858 that the friendless Cantonese boy arrived in Singapore. For, four years he worked in a shop in Market Street, and at the end of that time he had saved about £10. With that sum as his capital, he opened a shop, which traded under a name. or "chop" og it is called in the Far East, of Hong Loong. That was the origin of a firm which is now famous throughout the Malay States.
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After five years of intense application to this first enterprise of his, he turned his attention other fields open to his restless energy. Leaving his own business in the hands of a manager, he went to Matang Larut, where he made his first mining profits. Then Perak war came, and he took up military contracts for the supply of food. Success rewarded his early efforts in this district; but the wheel of fortune turned. against him and four years after his arrival it Perak he was left penniless. Even in times of disaster the Cantonese never loses his amazing industry, and his dogged deter. mination to make money. Loke Yew retained these native characteristics, and, also, at the crisis of his life, he maintained his courage and natural cheerfulness. His subsequent stories about the difficulties of that anxious period showed that he had also a keen sense of humour." These qualities, so _unique in one man, brought their own reward, The country upon which fortune had frowned once again began to flourish, and Loke Yew was one of the first to ride upon the tidal wave of prosperity. As he regained his wealth, he turned his attention to Selangor and other places—in the Malay Peninsula. Everything that he touched turned to money. It is said that, despite his munificent gifts, Towkay Loke Yew was Worth 5,000,000 sterling at the time of his death. The man who had worked four years in order to save £10, had lost as much as $2,000,000 in the short space of three years; but he had the pluck to continue, with added, rather than diminish* ed energy, and he soon became a millionaire again. He certainly deserved success if only because of his courage.
Text read from the printed page and cleaned; old type leaves the occasional error.