The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1902-05-10
ARE BAD POWERS OF JUDGES /
CHINA AND MANILA IN BAD
FINANCIAL WAY.
Archibald McKillop Who Returned on
the Coptic Says That Depreciation OF
Silver is Causing Trouble.

As the result of the unsettled condi-
ton of silver, business is in a very
bad way both in China and Manila.
Archibald McKillopy who arrived yes
terday on the Coptic, has just come
from Manila and various Chinese cities
and he says the conditions are very
alarming.
owing to the depreciation in silver"
he said, business is in a very bad way
both in China and Manila. Both of
those places have no gold standard and
use the silver dollar as the commercial
unit. The result is that their standard
of value is constantly huctuating, one
way or the other. Merchants are view
ing the prospects with alarm, and the
conditions are very bad.
For instance, a merchant does not
know how much his money will be
worth a day from now. Silver is all
the time fiuctuating, and it has recent
ly dropped to a very low figure. The
only way he can offset this possible de-
preciatio of his goods is by slapping
on higher prices. This directly affects
the wage Garner who is, in fact caught
both ways. In addition to his prices
for every thing being raised his earn
ings are decreased on account of the
depreciation of silver. Such a condition
have been no serious failures or any
thing of that character, conditions are
becoming worse and much apprehen-
sion is felt among business people. The
condition of uncertainty has played
havoc with business in that part of the
world.
AT Manila similar conditions pre-
vail The Chamber of Commerce there
asked to be placed on a gold standard
but, for some reason, nothing has been
done to aid them in that respect. Such
a change can of course be made in Ma
nila but l do not believe that it can be
done in China. The Chinese are a very
conservative race, and they do not
take kindly to any marked innovations
and changes of their old systems Just
what the solution will be is uncertain.
The present condition is very alarming
certainly.
In Japan there is a shortage of mon
ey That country is not bothered by
any depreciation of the silver dollar.
but. for some reason, capital can not
be induced to invest there at the pres
ent Some time ago, wealthy Eng
lish capitalist was in Japan looking
over the railroads. He came as the re-
suit of the recent alliance between
Britain and Japan. Unfortunately the
.
character that they seriously handicap
business enterprises, as occurred in
that case. According to the japanese
laws the government has some man
ner of control over the railroads. The
British capitalist wanted blanket
mortgage on the entire railroad sys-
TEN, but, owing to the interest which
the Japanese government held, 1t was
| found impossible to grant the terms ne
! demanded so the deal fell through.
During the present trip visited In
| dia and Ceylon. The latter place mas
| the Hawaiian Islands beaten for beau
| ty. There is the most luxurious ahG
| beautiful foliage growing there that
! have ever seen. Conditions in lndla
are very miserable. The people are
! still diving from the famine, although
on my trip from Calcutta to Bombay
we did not see any marked evidences
of the ravages of famine"
Mr.. McKillop will remain in Homo
lulu until May 20 when he Will leave OF
the America Maru for San Francisco