Company of their own, the shares of which could be held only by Chinese. The shipping returns of the year 1870 shewed an increase of 2,433 vessels with a carrying capacity of 311,025 tons. Nevertheless there were, at the close of the year 1870, many who took a despondent view of the future of Hongkong as compared with that of Shanghai. The general China trade, it was said, was now developing in magnitude corresponding to the diminution of profits in the case of individuals. Having no power of expansion, the Hongkong trade was more keenly affected by this reduction in profitableness, caused by the natural working of increased competition. With so few outlets to trade and these obstructed, as to the junk trade, by the Chinese Customs Blockade, Hongkong now possessed but small opportunities of extending its trade with regard to imports into China. Hence the inference was drawn that the commercial importance of the Colony must thereafter decline very materially in comparison with that of Shanghai.
Commercial enterprise, however, continued to develop. The Hongkong, Canton & Macao Steamboat Company once more bought out competing interlopers in the river trade by the purchase of the steamships Spec and Spark (June 1, 1871). Great improvements were made in telegraphic communication with other countries. Direct communication was established with Shanghai (May 26, 1871), with New York and London (June 9, 1871), and with Saigon and Singapore (August 1, 1871). To utilize pier and godown properties at Wantsai, the Hongkong Wharf and Godown Company was formed (August 1, 1871) ignoring the fact that the increased facilities of telegraphic communication with Europe tended to diminish the need for godown storage.
The emigration question, viewed in the light of the Macao coolie trade, occupied the minds of the residents off and on throughout the term of this administration. This question took a definite shape on the passing of the Hongkong Emigration Ordinance (6 of 1867), when the Chief Justice (J. Smale) conjointly with one of the unofficial Members of Council (J. Whittall) pleaded
