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Rh the natural outflow of the Chinese population continued, though in a diminished degree, to utilize the facilities for emigration offered by Hongkong in some form or other.

Apart from the foregoing subjects, there were but few minor questions of commercial interest agitating the mind of the community during this period. In June, 1878, the Gunga case aroused some transient indignation against the Spanish authorities at Manila, the S.S. Gunga having, after striking on a reef on her way from Hongkong to Australia, put into Manila in distress for coal, when the Spaniards seized her on account of some informality in declaring the ship's cargo. Another matter of transient interest was the proposal made at a meeting of the Chamber of Commerce (March 4, 1879), to establish a general exchange and commercial sales-rooms where merchants might meet on a common platform, membership being open to all classes and nationalities. A few months later (May 28, 1879) the promoters of the Hongkong Commercial Exchange secured offices at the Marine House, and at a meeting held at the City Hall rules were drawn up and a Secretary (E. George) appointed to work this institution, which collapsed almost as soon as it was started.

The junk trade of the Colony did not develop, but shewed rather a steady decrease, during the first four years of this period. A slight increase took place in 1881, as compared with the preceding year, but whilst in 1877 as many as 26,500 junks with 1,798,788 tons entered and cleared in Hongkong, the corresponding figures for 1881 are 24,339 junks with 1,680,025 tons, and this in spite of a considerable increase of the Chinese population. The rise and fall of the commerce of Great Britain appears to exercise very little influence on the junk trade of the Colony which is more affected by the increase of the Chinese population of Hongkong, by the varying degrees of strictness exercised at the blockade stations and the variations of the policy of the Canton Provincial Authorities, than by the commercial movements of London or Manchester. As regards the import and export trade of