The sun., 1896-10-24

Tho Text or the Menoranduu ne Connded
60 Secretary Carlisle.

60 Secretary Carlisle.
WARRINGTON, Oct R3.-The full text OF tho
memorandum which Ii Hung Chang conhded
to Secretary Carlisle during long interview
held at the Seoretary's private residence 10 hero
with given. Similar memoranda, 1t Is known,
were left by him with tho Governments OF Great
Britain. France. and Germany, but this Is the
first time the text has been published:
~. When treaty relations were first entered
on in Tao Kwang's time a tariff was established
for the collection of duties on imports aud e1-
ports. and the amounts to be paid were ex-
pressed in silver taels. Treaties were again
negotiated In Hien Fung's time, and the tarid
was revised. but, although various changes
were introduced. the tariff remained much the
same as before. and the silver tRel was again
the designation used for the money In which
duties were made payable in China. In deter
mining the number of taels or fractions OF taels
to be inserted as the duty to be paid by any
specified commodity. what the foreign negotia-
tor chiefly had In view was certain hXeu
amount In foreign coin with which tho tael
amount was then supposed to accord.
"2. Since those days, however, silver has been
changing it's character; IL can no longer be said
to hold the same position as money, and 1t Is
not only moro and more becoming an ordinary
item among the many items of merchandise
but is less and less valuable as compared with
all other items; so that the tariff silver teel OF
to-day no longer rstains the eNehanse vaiue III
the time OF Tung Chin three customs tael could
purchase the equivalent of an English pound
sterling in all money markets, but during the
last twenty years it has gone lower and lower.
SO that now 1t takes from six to seven silver
alents. thus causing q loss to China Of from so
-. Al first the depreciation was comparative;;
some temporary arrangement. which would
soon ri light itself; but not only has depreciation
that silver is no more what It was. and that the
tariff unit. the Hsikwan tael OF to-day; is not
tho third Of pound sterling. This fact is OF
itself enough TO justify action In the matter.
sns ohfT nhsh nKe eon
the last twenty years Ching has established
legations ABROAD; has has, been ,nr purchasing NJ
ous works involving long and continual
expenditures abroad. and has been going to the
foreign money market for loans, which have to
be ex pressed In pounds sterling or the eQuiva-
leat, and all this time the very same money
three customs taels still IN ade a pound, has had
to he paid out to foreigners at the rate OF from
six to seven taels for every pound. me loss Is
about: it is making itself felt to too serious an
extent to be borne; and both the necessities OF
the day and considerations OF what is fair and
right demand that the original value of the Gus
toms tael be reenunciated and that the value of
silver at which China consented to collect
duties, viz three taels to the pound. be oo-
served and adhered to.
-. The matter is not one requiring either re-
vision OF treaty or disturbance of tariff. and. as
a matter OF fact the tariff as a whole 10 so
light that to REQUIRE its application In sterling
not only accords with its fundamental idea OF
ad vaorem duties. but can be no hardship to
anybody, while 1t Is, besides. what China Is en-
titled to- But. in order to avoid the inconven-
ience Of unexpected changes, the relative value
OF tn. tariff tael and the pound sterling
ought to hold good-sRy, for a whole year
for revenue purposes. and ought TO be fixed
aud published in advance. Hitherto 1000
taels. and when the tariffs were negotiated
their equivalent in god was 1888 Us. sd;
that is, while one custom tael equalled
so pence the Shanghai tael equalled 1lS4 pence;
but the average val ue OF the Shang hal tael
during the last twelve months has been per
tael not quite SO pence. aud accordingly there
has been q loss OF 80 pence on every Shanghai
tael paid as duty, and therefore, to make up
silver enough to buy so pence. the sum or at
least 2.222 Shanghai taels is required The ar
''tA Duties may be paid in Eoid-in sycee-or
"lB) II paid in gold. one gold pound remains.
as at first. the equivalent otthree customs taels:
'.Cl II paid in sycee. 2.22s taels of Shang-
hal sycee are the equivalent of 1000 customs
taels; fractions to be calculated accordingly.
Cd II paid in foreign coins. then as much
quantity OF Shanghai Sycee equal to the Gus
toms taels payable; fractions TO be calculated
accordingly.
In this way the figures Of the existing tariff
will stand uched-goods will pay according
to the customs tael and at Is original rate-the
customs tael and the gold pound will stand in
the same relation as before. Commencing thus
with 1897. the rate for every subsequent year
will be pu blished six months in advance. so that
all may know beforehand and Inconvenience be