148
SHANGHAI
prices of ten and eight cash, equal to about a farthing and have a very large circula- tion. In one matter, that of postal accommodation, Shanghai is perhaps over-supplied, there being British, French, American, Japanese, German, Russian and Imperial Chinese Post Offices. The latter was organized by and is at present being conducted under the auspices of the Maritime Customs. The Municipai Local Post was last year incorporated with it
It will probably be some years before the difficulties inevitable in a country like China are overcome, and foreigners are, justly or unjustly, doubtful as to the inviolability of their correspondence. It is understood that China will apply for admission to the Postal Union. Shanghai was made a port of Registry for British ships in 1874. All foreign hongs and even private houses have to give themselves fancy Chinese names, by which only they are known to the natives. The system is, however, found to have its conveniences. No less than 4,074 jinrickshas, 4,755 passenger and cargo wheelbarrows, 721 ponies and 568 horse carriages ply for hire in the Settlements, besides large numbers outside.
The currency of Shanghai is the tael weight (equal to one and a third ounces avoirdupois) of silver cast into "shoes" of fifty taels, more or less. The foreign banks issue notes of the value of one dollar and upwards for both taels and dollars." Sinaller transactions are conducted in clean Mexican dollars and copper cash. There are eight foreign and numerous native banks in the Settlement. In 1896 the Imperial Chinese Bank, under Chinese and European management, was opened by Imperial Decree.
TRADE AND COMMERCE
Shanghai is the great emporium for the trade of the Yangtsze and Northern and Corean ports, and to some extent for Japan. The export of Tea from 1846 to 1850 averaged sixteen million pounds, and Silk during the same period seventeen thousand bales. The total import and export trade of 1868 amounted to sixty-five million taels. It steadily increased each year until 1881, when it reached Hk. Tls. 141,921,357, but afterwards showed a great decline, the total for 1884 having been twenty per cent. less than that of 1881. There has since, however, been a rapid recovery, the total trade in foreign bottoms, import and export, for the last eight years, as given by the Customs Statistical Department. being -
1890... Hk. Tls. 145,145,108 at Ex. 1.54 Mex.
$223,523,463 at Ex. 5s. 2}d., £37,647,212
1891... 1892... 1893...
"
165,543,862 166,827,502
1.53
"
1.54
•
99
177,0!7,836
1.54
$253,282,109 $256,914,353 $272,607,467
•
1894...
195,622,371
1895...
1.51 1.53
"
$295,389,780
$334,661,923
"
1896...
1897...
1.53
1.5
$347,176,149
་་
་་
$398,518,485
218,733,283
226,912,516
265, 78.990
"
梦梦
48. lid., 40,696,199 4s. 4ld., £30 19,946 3s. 11d., £34,850,386 3s. 28d., £31,279,202 3s. 3d., £35,772.006 3s. id., £37,818,752 2s. 11jd., £39,57,09)
The value of foreign_Opium_imported in 1893. 1894, and 1895 was, owing to the fall in exchange on India, much over that of 1892. but the quantity is rapidly declining; in 1895 it was 31,589 piculs or 4,274 less than in 1892, in 1896, 28,172, and in 1897, 27,530 piculs. This is owing to increased production of and demand for native opium, the quality of which is now much superior to formerly and the taxes very much lighter than on the foreign drug. The import of foreign opium in 1881 was 51,522 piculs. The import of the native drug as shewn by the Foreign Customis returns in 1891 totalled 5,046 piculs. or more than twice, and in 1895 reached 10,413 piculs or more than four times that of 1893. In 1896 it declined to 8,548, and in 1897 was 9,938 piculs owing to short crops both years. But it must be borne in mind that the great bulk of the native-grown opium which enters Shanghai does not come under the Maritime Customs supervisión. An export of the native growth to foreign countries has now commenced. Owing to the increased silver cost the import of Cotton Goods and Yarn, which for several years had shown an annual increase in quantity of over 25 per cent.. fell greatly in 1893, but has recovered since, the year 1896 shewing the astonishing increase of 523 per cent. in value over its inm diate predecessor. From the over importation in that year a heavy deline might have been looked for in 1897, but it was only about five in a half r cent., 603 against 643 million taels. Shirtings and Drills from America now largely outnumber those of English make, for the reason, it is alleged, that freight from America is much lower than from England. Woollens increased by 36 per cent. in value in 1891, but did not vary greatly till 1895, when the import was over 57 per cent, greater than in 1895. As with Cottons, this could not be maintained, 1897 shewing a decline of 14 per cent. Metals imported fluctuated by not more than ten per cent, during each year of the decade, increasing by an average of about five per cent. per annum till, as with most other foreign