The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-10-22


mon women; and let our women's rights wo-
men give them helping hand.
New COMMERCIAL ADVANTAGES AT SHANGEAE |
IMPORTANT TO OUR TEA MERcHANTs.--We de-
sire to call the attention Of all who are iate- |
rested in the trade with Shanghai and the great |
Chinese river Yang tse-Kiang, to an important
correspondence published in another part OF
our paper to-day. This correspondence took
place during the past summer, between our
Consul at Shanghai, Mr.. Il. G. Murphy, and
his Excellency Chaou; Superintendent of Mari
time Customs at that port 1t refers to the ex-
istence of three distinct matters having an
injurious effect upon our commerce there: First,
the levying of an inland tax upon tea in its
transit from the interior to the mouth OF the
river. Second, the depreciation in the market
of Mexican and other dollars, on which dis
count of from 20 to u per cent was imposed to
equalize them with the Spanish or Carolus dol
lar, although all were Of equal, or nearly equal,
value and third, the non-existence Of buoys
or signals to mark the channel of the river
and afford facilities to navigation. To all of
these three causes of complaint Mr.. Murphy
gave his attention. and on the subject of them
he communicated with the Superintendent of
Customs; and it will be seen by the cores
pondence which we publish, with what good
effect he did SO.
The taxation of tea in the interior has been
Systematically carried on by the Chinese, al
though in direct violation Of the terms of the
treaty. The produce came, therefore, to the
port enhanced in value, and the consumers
had thus to pay not only the legitimate export
duty on the article, but the tax illegitimately
levied on it in the interior. Our ministers
have at various times made unsuccessful efforts
to procure from the Chinese government guar
antees against this unjust imposition. But our
Consul has now procured that the receipts
given for the internal tax shall be taken at
the custom house in payment of the export du-
ties. When we state that this inland taxation
was proposed to be this year ten per cent ad
yalorem, and that hitherto it has been always
exclusive of the regular duty, it will be seen
how important is the advantage derived on this
point from the action of our commercial repre-
sentative at Shanghae.
And yet even this advantage is slight, COM
pared with that derived from the attainment of
his second point, namely, the equalization Of
currency. The Chinese have always exhibited
q marked preference for the Spanish or Caro-
lus dollar over the Mexican, French, and South
American dollars, although in point Of intrin-
sic value there is only an extremely minute
difference between them. The Carolus dollar
consequently became the standard, and as they
have been gradually diminished in circulation,
the capitalists possessing the largest quantity
of them were enabled to combine together and
regulate at what rate Of discount other dollars
should be received; and their power being of
course affected by the supply in the market,
the rise and fall of exchange sometimes oscil-
lated to the extent of 80 per cent-a state Of
things highly detrimental to the interests Of
merchants here, however profitable it may
have been to the shavers and brokers of Can
ton and Shanghae. The rate Of exchange at
the latter port has been sometimes n per cent
higher than at the former, though the distance
between them is only thousand miles. The
remonstrance Of our Consul with his Excellency
Chaou, has been successful in removing thisse
GUS evil, and establishing the terms of the treaty
in regard to currency, namely, that it shall be
regulated in reference to the purity in silver.
And so Mr.. Chaou has issued decree showing
the result of the assay of six species of coins,
and commanding that henceforth such coins be
received at the relative rates specified. This
decree will Rave the effect, it is estimated, of
reducing the rate of exchange from 20 to 80
per cent below its present standard.
As to the third point which entered into the
correspondence, namely, the rendering more
safe the navigation into the port of Shanghai
his Excellency Chaou has evinced the same
judicious and respectful Difference to the sug-
gestions of our Consul, and has authorized Mr..
Murphy to establish the proper buoys and sig
nails, at the expense of the Chinese govern
ment All these are immense pratical benefits
gained for our commerce at Shanghae; and
our worthy Consul there is entitled to great
credit for the good sense, propriety and regard
for the interests confded to him, which he has
exhibited in the matter.
CONGRESS SPEAKER OF THE
HoUse.--We are given to understand that the
election of the Speaker of the House upon the
assembling Of the new Congress on the first Mon
day in December, will turn upon the question
of the delegate from Kansas Two delegates
have been elected--Whitfcld by the pro-
slavery party, and Reeder by the anti-slavery
squatters of the Territory. Both will come on
to Washington, each MS the legitimatcly elected
delegate, and it will be for the House to de-