The exports of treasure being fairly equal for the two years. The heavy exports this year of wheat in addition to the importation of money into the country last year and this, must be taken into consideration in finding an explanation of the glutted money markets. The value of wheat exported for the periods above mentioned amounted to: Silver. The market for silver was wanting during the year in the absorbing interest which it received in 1890, for in that year the price fluctuated between 44d. in January, which was the lowest quotation in London during the year, to 54ğd. per oz., which was reached in September, and was the highest point; the year 1891 only saw fluctuations between 483d. in January as the highest rate, and 433d. the lowest, which was touched in December. From a statement showing the shipments of silver to Bombay and Calcutta during the year, it appears that while in 1890 they amounted in value to 6,680,000l., last year the value was just under half that amount, or 3,300,000l. Bombay, in the first instance, before the natural distribution of money takes place, had to bear the burden of the weight of the imports, from the fact of the amount coined there being about four times. what goes through the Calcutta Mint. From the accounts relating to the trade and navigation of British India, published by the Department of Finance and Commerce, we find that for the seven months, April-October, the imports of silver for the years 1889, 1890, and 1891 were as follows, respectively : Rs. 5,97,76,605 Rs. 10,37,67,890 Rs. 4,67,78,351 These figures plainly show that India had received more silver than it required in 1890, and the glutted market has been reflected by cheap and unremunerative money lying idle in the Presidency Banks. The highest point silver touched during the year was in January, but it was then on its downward course, and from 483d. reached 463d. per oz. before the month was out. In February it fell further to 444d., but rallied a little in March for a time. In April it touched 434d.-almost the lowest point for the year. From that time until July, when it had again risen to 463d., there were not many important fluctuations, but since July the course was downward, with almost no check worth speaking of. It was at one time thought that the American Congress would introduce a measure which would relieve the pressure of supplies on the markets of the world, but this came to nothing. During the year large quantities of the metal were taken by Spain, China, and Japan, while Portugal and Bulgaria have also been in the market. Had it not been for the purchases for these countries, whit mas probable that the rate would have case. The stock in India masi nov de fem as the ryots have made large prote and wheat, the excess during the pare value of these two items being over this must mean a large movemer a the agricultural classes. The import months, April to October, amon against Rs. 3,55,23,000 in 1890 the United Kingdom sending 1 largest supply, of the value of e The depressed condition of the Tra year was full of evil augury for to were divided whether the ineren way damaged by a decline in te chiefly affected those depender m Europe. Jealousy and hatred of the Lima year into mob violence, wie 197 ment against the foreign miss, there Yang-tze-kiang river. A commercial town of Wuhu v a Jesuit Mission building was nately the inmates escape Europeans took refuge in gunboat belonging to the Wuhu to take the plac absent, and the Viceroy c to take immediate action.. leaders of the mob ap and gave their orders a noticed that they carrie hands of the rioters a clamation at Wuhu, ener with many "abomina"... frequent churches toge... whose eyes and heartmen believed that t as medicine. The named Shen "disa: all, without leavin bereaved parents. bones of young Now, people bined strength Protestant Church, and all the properties owned by them! When these are destroyed no rebuilding will ever be permitted. Destroy again as soon as they rebuild. Chase out all the barbarian thieves. Then can we rise and ascend from misery to happiness. Only the Roman Catholic Church is to be destroyed, but do not touch the Customs. If you injure the Customs, you will not escape the arm of the law." In this riot no lives were lost, and the only property destroyed was that belonging to the Jesuit missionaries. The local authorities at Wuhu fired blank cartridges on the mob, but did nothing more. Months later, over twenty of the rioters were captured, and some of them were decapitated by order of the Viceroy. In May, a band of rioters attacked and looted a girls' school belonging to the Wesleyan Methodist Mission, in the vicinity of Nankin. A number of houses were pillaged, and other neighbouring Missions were attacked. Her Majesty's ship" Porpoise" was sent to Nankin to preserve order. Similar outbreaks occurred in May at Hochow and Chingyi. At Tanyang, near Chinkiang (June 1), a Chinese mob burned a French church 200 years old, and pillaged and set fire to adjacent Mission buildings. The rioters also broke into the Christian cemetery, and dug up the bodies of the dead. On June 5 a riot was suppressed at Kinkiang by British, French, and American gunboats. During the attack which was made on the Wesleyan Mission at Wusueh (June 5), Mr. Argent, the Wesleyan lay agent, and Mr. Green, an English Customs officer, lost their lives while trying to pacify the mob. The chief incentive to all these riots appeared to be the inflammatory placards against foreigners which were everywhere posted. No one, however, was punished for issuing them. Excuses were made by the Government that these outrages were the work of secret societies among disbanded Hunan soldiers, and that the primary object was not to injure foreigners, but to entangle the Government in foreign complications in order to cause revolution and to depose the ruling Manchu dynasty. There was some reason to believe that the secret society of the Kolao Hui was at the bottom of the disturbances. As to the expulsion of the dynasty, certain high officials were said to be in favour of a pure Chinaman for Emperor, instead of a Manchu Tartar. The bulk of the Chinese army had hitherto consisted of Hunan men, who defy the Pekin authorities, and it was declared that the Emperor doubted the loyalty of the provinces, and dreaded to coerce them. Whatever the truth was, there was no want of excuses and no haste to bring the criminals to justice. The diplomatic representatives at Pekin of the different Powers protested against the outrages, and informed the Chinese Government that if foreigners were not protected, they would take vigorous action. Consequently, under this pressure, the Emperor signed a decree in June ordering protection to foreigners stiren Missio RAT rued the punishme Great Britain. Frane z gunboats in the Wo nest Woosung. employed to keep ti Wahu, when the 1 ts. This was q then on the water w ervals at many c where foreign sill!-At Shangha rdered by the Co ity for protectio Another serionthe Yang-tz ver at noonday wither American Epise 1 i. The gate was pronal the rioters set 1′′ i to the Mission. rished in. The 2. fired, and the rus Several were We' the town pa attempts were Leich of the rioters whe the evidence Mat carried out te leaders. Sir Join the in August aga—ment, asking N throughout h attempted a superiors, wi punishment c factory repes Government. 1. seemed power posed, its Hunan.. to be critical. ate lu ་་ T a foreign for Deale connivance and as a resut of the bre the Tsung- Taner Chang him to pay al misa puting their amJULZ |