JAPAN.

Wellington Independent, Volume XXV, Issue 3039, 30 August 1870, Page 4

JAPAN.

(From a Correspondents of the Otago Times.) Yokohama, June 13th. Sinco the !4th May no less than thirty ships have arrived here with heavy cargoes to a falling market, heavily overstocked, and tho loss on these shipments will ruin many houses in the East. Business is very dull. The Japanese are forming themselves into trading companies, buying their own vessels ; and being backed up by their Government the trade is chiefly kept in their own hands. In fact, there is nothing to be done in the way of making money with them ; they are too wide awake. The s.s. Albion, so favorably known in the New Zealand trade, is in port, and looks better than ever after two years' hard work, having been furnished with a hurricane deck fore and aft. Her destination at present, is uncertain. The s.s. Otago is still lying in the harbor doing nothing, and in fact has little chance of anything doing in this quarter, the place being overstocked with steamers. Things are going to the bad fast. I hear many colonials — especially Dunedin ones — say they would like to set foot on shore there once more amongst civilised beings, never to enter a heathen country, or think of doing so again. My advice to all if,, to stay where they are, and where many of ua hope to bo soon. The month has begun quietly, only a gentle shake every two or three days. In consequence of the scarcity of coin, the Japanese Government issued some thirty millions of kinsats, of the value of from threepence to 100 rios or dollars. From the simple way in which they are engraved they are easily forged, and the press called the attention of tho Japanese Government to the fact that Chinamen are great adepts at making false coin, and are certain sooner or later to bo engaged in the making and sale of these kinsats. On the first of June, the news spread that the servant of Sir Harry Parkes, of H.B.M. Legation here, had been caught in the manufacture and forgery of them, having chosen the place as the last one to be suspected. I enclose paragraph of same, by which you will see he is condemned to suffer death for the offence. On the day fixed for the execution, many foreigners rose early, and walked a mile or two to see the culprit die ; fancy their disappointment when the news arrived that he claimed to be a British subject, and sentence is delayed for the present, pending enquiry. Brenavier says he is a native of Singapore, and, if found to be so, he will be sent to Hong Kong to be imprisoned for tho offence. The sale of hind at Yeddo took place this month, and was a failure, foreigners entertaining the idea that Yokohama will always be the chief place of commerce on account of its fine bay. The Japanese Government have appointed Captain Pnrves, of the P. & 0. Corupanj', to tho office of Harbor Master here, at a salary of about SCDO dollars per annum. His duties will not be light, as there are generally from eighty to 100 ships of all nations in the bay. Captain Black lias sailed from hero for China, taking a pair of golden pheasants and a few other birds for the Acclimatisation Society of Dunedin.