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alternative title for this paper might suitably be "A Study in Universal Folk-Lore"; for the subject offers not merely a fascinating page in oriental myth and legend, but something common to all races in their imaginings of a happy Otherworld, and I propose, while investigating an ancient Chinese belief, to draw some analogies between Eastern and Western tradition.

We are about to enter a realm little explored by occidentals, a world of wizards, alchemists, and sea-going adepts, all reputed devotees of a many-sided cult known by the name of Taoism. It is therefore not irrelevant to make by way of preface a few remarks about the meaning of the word Taoism. In its primitive sense it denotes a religion of the workings of the Cosmos, of Nature as a whole. Taoism conceives the universe as one vast organism, the power and activities of which are centred in the "Ultimate Principle" or the "Great Absolute" spontaneously manifesting itself in two opposite Regulating Forces—the Yin and the Yang. The creation, continuance of existence, or decay of all things depend upon the interaction of Yin and Yang. Man, as a component of the Cosmos, is subject to the dual power, both spiritually and materially; and hence it is of supreme importance that he should shape his thoughts and deeds in conformity with TAO, or the Course of Nature. Moreover, he is even able by certain methods to modify Nature's laws in his own favour, and thus succeed in transcending the limitations of ordinary mortals.