CHINA
603
“Imports.—The total value of net Imports was Hk. Tls. 344,060,608, an increase of Hk. Tls. 310,453,428, compared with 1903, an increase of 11 per cent. In 1864, to a total of 50 million taels Opium contributed 40 per cent., Cottons 125 per cent., Woollens 10 per cent., Metals 43 per cent., and all other goods 33 per cent.; in 1904, to a total of 344 inillion taels Opium contributed 11 per cent., Cottons 36 per cent., Woollens 1 per cent., Metals 6 per cent., Coal 2 per cent., Kerosené Oil 8 per cent, and all other goods 36
per cent.--an aggregate for "Sundries" of 46 per cent. Foreign Opium fellfrom 58,478 to54,765 piculs, which still was 3,965 piculs more than in 1902. Malwa increased in quantity, and that the demand was genuine is evidenced by the fact that, notwithstanding the lower silver laying-down cost due to higher exchange, sale prices were fully 15 per cent. more in December than in January. Cotton manufactures were imported in smaller quantities, speaking generally, than in 1903. Plain fabrics (Shirtings, Sheetings, T-Cloths, Drills, and Jeans) had declined from 19,015,300 pieces in 1902 to 13,835,506 pieces in 1903, and in 1904 fell further to 12,949,964 pieces. The price of Cotton on the Western markets, rising early in 1903 and keeping a high level during that year, was maintained well on into 1904, and was reduced to a reasonable rate in time to give full work to the mills, but not in time to bring the woven product to the consuming market. Of the plain fabrics named above, the English mills supplied 7,841,605 pieces in 1903 and 8,109,020 pieces in 1904, thus showing a prompt seizing of the opportunity to replenish the market; American mills supplied 4,782,141 pieces in 1903 (already a much reduced output) and 3,703,548 pieces in 1994, a reduction explainable partly by the necessity of first supplying the American market, partly by the distance from this overflow market, and partly because the American mills are most affected by any reduction in demand from Manchuria; the Japanese mills supplied 730,723 pieces in 1903 and 607,312 pieces in 1904, a reduction the more certainly attributable to the effects of the late war and the resulting high cost of credits, since they are nearest; the smaller supplies of Dutch fabrics were less and of Indian fabrics were more. Since the resumption of business after the fall in the price of Cotton, it is reported that orders have already been placed for nearly all requirements a year or more ahead. Fancy makes of Cotton Goods, articles of luxury the demand for with increases in time of prosperous trade and in the price of which the raw material counts for a smaller proportion, increased in value from Hk. Tls. 19,320,246 in 1903 to Hk. Tls. 24,162,260. Chintzes, Prints, and Turkey Reds were markedly less in quantity and value, but there was a considerable develop- ment in Cotton imitations of superior fabrics, such as Italians, Lastings, Spanish Stripes, Flannel, etc. Cotton Yarn fell from 2,738,448 piculs in 1903 to 2,280,878 pieuls in 1901, the proportion to the total value of all Cotton manufactures of this semi- finished product having fallen from 52 per cent, in 1903 to 48 per cent. in 1904.
Yarn reached record prices during the year, and the best makes of the Japanese mills realised fully 10 per cent. higher prices than Indian spinning; Indian Yarn was 252,128 piculs less, and Japanese 192,677 piculs less, than in 1903. Taking the average of the three years 1902-04, we have a consumption of 2,489,099 piculs; the output of the mills in China is estimated at 750,000 picùls, of which about two-thirds come from those at Shanghai and one-third from those elsewhere; and this gives a total of about 3,240,000 piculs of machine-spun Cotton Yarn consumed by the people of China. Woollens call for no comment; their value remains at about 4 million taels, the value of the import of 40 years ago.
Those who can afford Woollens prefer silks and furs, and the wearers of cotton-wadded garments and sheep skins cannot afford Woollens. Metals increased in value by over a third; the increase is observable all along the line, the only marked exception being Steel. The exaggerated increase in Copper (Slabs, Sheets, etc., from 90,907 to 273,910 piculs) and in Spelter (from 1,090 to 14,326 piculs) is attributable to the demands of the Mints. Cigars and Cigarettes increased in value from 2 to 31 million taels; while Household Stores and Wine, Beer, and Spirits maintained the value of 1903. Flour comes to us, for the most part, from Hongkong, but in bags with the imprint of American flouring mills; the quantity increased from 766,324 to 937,946 piculs. Under Dyes the only point to attract attention is the increase in the import of Artificial Indigo, from 11,818 to 18,819 piculs; Vegetable Indigo, a Chinese product made Foreign by passing through Hongkong, also increased from 70,814 to 78,417 piculs. Other synthetic Dyes maintained 1903 figures. Kerosene Oil continues its onward march, the total import having risen from 84,998,335 gallons in 1903 to the enormous figure of 156,891,235 gallons in 1904, an increase of 84 per cent.; to the total import of the two years 1903 and 1904 American Oil contributed 37 and 43 per cent., Russian 16 and 21 per cent., and Sumatra 47 and 35 per cent, respectively. Borneo Oil, under that name, is much reduced, and California Oil has made its first appearance. Sugar of all kinds increased from 3,202,980 piculs in 1903 to 3,747,563 piculs. ́ ́ Railway