for himself a successful commercial career
are woefully meagre. Even representatives of wealthy syndicates, after
investigating prospects on the spot, generally come to the conclusion
that capital can be more profitably invested elsewhere than in China.

On the other hand there are a considerable number of official
appointments to be obtained, carrying with them comfortable
remuneration, but these are mostly filled up in England and in the
several countries concerned.

Professional men, such as doctors, lawyers and dentists, working both
for Chinese clients and foreign residents, have capital opportunities,
while for captains, officers and engineers for steamers, engineers and
directors for docks and factories, professors for various colleges,
mining experts and railroad constructors, there is an increasing
demand at fair salaries, but, considering the trying climate, the
banishment from home and the persistent decline in the value of
silver, residence in the Far East, even on a large income, is a
doubtful advantage.

The collapse of silver has been so great that whereas twenty or thirty
years ago four silver dollars would purchase a sovereign, and a salary
of four hundred dollars a month represented twelve hundred pounds a
year, now it takes more than twelve dollars to purchase a sovereign,
so that a similar salary of four hundred dollars a month represents
less than four hundred pounds a year.

It is a common belief at home that fluctuations in the value of silver
are not felt when purchases are confined to a silver-using country.
This is quite a mistake. China is a silver-using country, yet the
standard of value maintained by her four hundred million souls is
neither silver nor gold but copper cash, and the ultimate cost of
_everything_ of native origin is regulated by its value in cash.

A coolie's wages a few years ago may have been six thousand cash a
month, and a dollar being then purchasable for say a thousand cash,
you gave him six dollars a month. To-day his wages may still be six
thousand cash but a dollar being now worth only five hundred cash, you
are obliged to give him twelve dollars a month. Precisely the same
rule applies to meat, coals, vegetables, etc.

For all imported foreign articles, such as clothes, stores, wines,
etc., you must give enough in silver dollars to make up the price as
reckoned at home, that is, in gold, and as you now have to give three
times as many dollars for a sovereign