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This island , however , is no more than a lowlying reservoir of coral , containing an extensive lake of brackish water . The width of the outer shell does not exceed half a mile , and so little is it elevated above the level of the sea , that in stormy weather the waves break right over the intervening barrier and pour into the inner lake . The only production of this island are cocoa-nut-trees , which serve as a beacon , to mariners at a distance of fifteen miles . A
very great preliminary expense would therefore be indispensable , in order to erect a lighthouse , and to construct coal yards , marine stores , and the other details of a new colony . It has , consequently , been proposed by others that the Mauritius should be selected in preference to Diego Garcia , as there everything already exists which could possibly be required . The island , besides , may be seen from afar , the climate is extremely salubrious , the trade worthy of encouragement , and—not the least
cogent reason—the inhabitants have offered an annual contribution of £ 14 , 000 towards establishing a steam communication with Aden . But there is one great objection to both of these courses , the frequency of * terrific hurricanes . There remain yet two other routes- — the one by Gey Ion , Singapore , and the Straits of Sunda , the other by Singapore and Torres Straits . By the Straits of Sunda the passage may be completed in 64 days . The other line is said to be more rapid > but suitable only for
small steamers . The real choice , therefore , lies between the Gape of Good Hope and the Isthmus of Panama , and as matters now stand the Colonists have good reason to prefer the former . Ultimately we may not doubt but that a vast network of steam-ships will connect Australia , China , the chief seaports * the Indian empire , the Cape , the Mauritius , and the Bed Sea . ' But in the meantime we simply demand that the steam postal service with Australia be immediately re-established by the most eligible route .
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A LITTLE CURRENCY QUESTION . Though little , it is serious , and involves the interests of a large and important community . The Government and the Legislative Council of India have taken measures to introduce into the Straits Settlements—Singapore especially —the Indian rupee currency , with its subdivisions . The people of Singapore have been accustomed to use dollars ; and if it were a mere matter of Conservatism against innovation , we should have nothing to urge in their behalf . But it concerns their commercial
they value them no more than an English artisan would value a cowry . Is it , then , reasonable or just for the sake of a pedantic uniformity to injure an important commercial settlement , by forcing upon it a currency which may drive a large portion of the trade into " dollar ports ? " Of course , other trading communities will take every advantage of the innovation , and will persuade many a trader to-desert Singapore , where he is paid in the unpopular rupees , and resort where the familiar dollars and cents prevail . A serious interest is involved in the decision of the Home Government upon this question . No one who is acquainted with the habits of mind , the prejudices , the inveterate monotony of the Eastern mind , can doubt that to pay an Asiatic in a coin obnoxious to him , is to cause immense losses on the exchange of money , and to impose a check upon a growing trade . How can he take our merchandise , if he dislikes our money 1
prosperity . Their dollar is divisible into a hundred copper cents ., with half and quarter cent , pieces , highly appreciated" by the native traders . This dollar , with its subdivisions , is the established circulating medium throughout the Eastern Archipelago , and the neighbouring regions , particularly China , whence the greater part of the Singapore trade is derived .
But what is the amount of the trade of Singapore , sometime a little fishing station of savages' ? Upwards of nine millions . etorling , entirely transacted in dollars and cents . ; and what is the convenience of the local govern * ment , the whole expenditure of which does not exceed £ 56 , 000 , compared with that of the merchants who carry on this surprising commerce ? Hitherto , the trading relations of the
Singapore community with the races of tho islands and of China have gone on rapidly prospering ; their port has become the favourite of tho farther east , greater than Batavia is , greater than Johore over was . But the natives of Eastern Asia , the Chinese Icsjpeoially , are worshippers of ancient customs , s ^ idvOsaft ecarcoly bo persuaded to transact theirex > changes with tho Indian rupee . As for Push
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, MR . LOWE'S NEW BILL . Mb . Lowe has re-introduced his measure for the regulation of Joint-Stock Companies , with the title of " The Joint-Stock Companies Act of 1856 . " It provides that all associations containing not less than seven , and not more than twenty members , may be incorporated into a company , with or without . , limited liability . But after the 3 rd of November next , no association with more than tweiity members , unless empowered by special act or
We reserve , for the present , the criticisms suggested by this measure , which has been considerably modified since Mr . Lowe withdrew it , before the Easter recess .
charter , or under the Stannaries'Laws , can be incorporated unless under the new Act . ; To-legalise the provisional registration , Mr . Lowe proposes to enact that seven or more persons shall sign a memorandum of Association , to be lodged with the Registrar , specifying the name of tlie projected company , its objects , the amount of capital , the number and amount of shares , and whether it is to be formed on the limited or unlimited principle . Immediately upon the deposit of this
document with the Registrar , the subscribers and all the subsequent shareholders become a corporate body , with a perpetual succession , a common seal , and the privileges of a Joint-Stopk Company . If the company frames no set of regulations for itself , under the approval of the Registrar , it must abide by the rules contained in a schedule appended to the Act . It must keep a list of shareholders , and an account of money paid and due , which must be accessible to the proprietary free of charge , and to all other persons on the receipt of a
fee of one shilling . Special regulations , not contrary to the tenor of the Act , may be passed by three-fourths of the shareholders ; but , within fifteen days , such new rules must be submitted to the Registrar . One-fifth of the shareholders may , at any time , apply to the Board of Trade , for tho appointment of an Inspector , who shall examine and report upon the company ' s affairs ; or , the shareholders generally may appoint an inspector , the officials being bound , under penalties ^ to furnish him with all necessary facilities for the investigation .
" In companies with limited liability , tho responsibility of shareholders will continue for one year after withdrawal , and in companies with unlimited liability for three years . The company may be dissolved by tho resolution of a general meeting , when business has been suspended for one year , when it is unable to pay its debts , when three-fourths of the capital have been lost , or when only seven shareholders remain . ] f a debt exceeding £ 50 duo by tho company remains unpaid three weeks after a legal claim has been made , the company is to be considered insolvent . This is a very important cLaueo .
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PROPOSED REFORM OP THE JUDICIAL ESTABLISHMENTS OF INDIA . The report of the Commission appointed to inquire into . " the jurisdiction , powers , and rules of the existing Courts of Justice and Police Establishments" in the territories , under the government of the East India Company , is now presented to the public in a Blue Book of some 258 pages . The Commissioners propose to
amalgamate the Supreme Court of Judicature , in Calcutta , with the Sudder Dewanny and Nizamut Adawlut , and to give to this new tribunal the style and title of the High Court . They are not unanimous in their suggestions , but the majority are of opinion that this change should be effected by constituting a Court consisting of eight members , of whom three should be appointed by the Crown , and the rest "by the Governor - General in Council . The Grown
Judges must be barristers of England and Ireland , or members of the Faculty of Advocates in Scotland , of not less than five years ' standing . But what experience does a barrister acquire in five years calculated to fit bim for the bench , in a country of whose laws , language , and people he can know nothing until after a long residence ? What follows is still more objectionable . The Governor-General in Council may select from the preceding class , or from , members of the Covenanted Civil Service of not less than ten years' standing , or from members
of the TJncovenanted Civil Service em ployed for not less than ten years in the judicial service of the Government , or from persons who have been vakeels for not less than ten years , or from persons who have belonged to the two last-named classes for periods amounting together to not less than the same term of years . Now , a Civil Servant of ten years' standing has virtually only eight years' experience , for during the first two years after his arrival in the country he is
engaged in acquiring the languages , and in learning the technicalities of his profession . Nor are the remaining eight . years entirely devoted to judicial or magisterial pursuits . During a part of the time he is employed in tho revenue department , but this is so far of advantage that it enables him to obtain a . more intimate knowledge of the people , of their manner of living , and peculiar modes of thought . The members of the Uncovenanted Service and
the Vakeels , or Native Barristers , are likely to prove far more competent than their mora favoured brethren , though at first they will have to encounter some prejudices on account of the false position they occupy in the very absurd ancl artificial society of British India . The Manchester party , whose conscientious sentiment is only equalled by their pr <* found ignorance on Indian subjects , will
no doubt , rejoice with exceeding great joj at the new prospect opening out for the natives . They assert ; , and perhaps believo , that natives are too little employed by th < British Government , and that when employed they are invariably underpaid . But how stands the case in reality ? In 1849 thero wen 2 , 813 natives in the receipt of Govornmen salaries varying from . £ 24 : to £ 1 , GQQ pe annum , namely : — 1 at £ 1 , 660 a-yoar . 8 „ 840 to £ 960 ft-yow . 12 „ 720 „ 840 08 „ 000 „ 720 „ 69 „ 480 „ 600 „ 58 „ SCO „ 480 „ 277 „ 240 „ 300 1 , 173 „ 120 „ 240 1 , 147 „ 24 „ 120 ' 'But tho value of a rupee to a nativo livid
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April 19 , 1856 . ] THE LEADER , 3 ? S
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Leader (1850-1860), April 19, 1856, page 373, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/vm2-ncseproduct2137/page/13/
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