740
SHANGHAI
siders soon commenced to find openings for competition, and the result has been the winding up of the old company, and the formation of a new during last year, under the title of the "Shanghai Dock and Engineering Co., Limited." By another company the dock owned by the Chinese Government at the Arsenal at Kao- ch'ang Miao has been acquired under competent European management, and forms a formidable competitor; while one or two private firms have started to undertake ship- building and engineering on a large scale, and with well equipped works. The situation is not improbably more satisfactory to all concerned, even from a shareholder's point of view. From the well appointed yards of the Dock and Engineering Co. several steamers both river and sea-going, have of late years been turned out, up to a tonnage of fifteen hundred to two thousand, with engines complete, which in their general style are fully equal to European-built vessels, and on account of saving the heavy expenses of steam- ing out, have proved satisfactory to their owners, so that steel and iron shipbuilding may be considered as one of the regular industries of the port. Shanghai bids fair to soon outrival Bombay as the largest manufacturing centre in Asia.
The "Astor House" in Hongkew, the "Central" in the British, and the "Hôtel des Colonies" in the French Concession, besides many second-class houses, give hotel accommodation equal to that of any port in the East. There are five daily news- papers: the North China Daily News, The Shanghai Times, and L'Echo dễ Chine, morning: the Shanghai Mercury and the China Gazette, evening; five weeklies: the North China Herald, Celestial Empire, Ostasiatische Lloyd, The Union, and Sport and Gossip, and three illustrated monthlies--the East of Asia, The Bund Social and Shanghai, There are upwards of a dozen native daily papers, the leading ones being the Shun-pao, the Hu-pao, the Sin-wan-pao, the Shi Po, and the Universal Gazette, the latter represen- ting the Reform movement. These are sold at the prices of ten and eight cash, equa to about a farthing. Some of them have a circulation of 10,000 per day. In one matter, that of postal accommodation, Shanghai is over-supplied, much to the disad- vantage of the resident community, 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 former Municipal Local Post was in 1898 incorporated with it. It undertakes the transmission of small sums of money and accepts the registration of letters. 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. 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 6,629 jinrickshas, 6,787 passenger and cargo wheel- barrows, 829 ponies and 677 horse carriages ply for hire in the settlements, besides large numbers outside. Of private vehicles there were licensed in 1905, 5,250 rickshaws, 918 carriages, 31 motor cars, and 1,095 ponies. The water conveyances licensed numbered 978 foreign cargo boats, 9,903 native cargo boats, 994 ferry and passenger boats, 19,660 other boats, 2,725 sampans and 88 steam launches. There are 20 native theatres within the Anglo-American Settlement.
All
The currency of Shanghai is the tael weight-equal to 579,84 grains troy, of fineness 0.916, but reckoned at 98. That is to say that an actual weight of 98 taels is counted as 100. The Shanghai tael thus contains, or should contain, 520.43 gr. troy of pure silver, but varies owing to the crude methods of assay. This is however the mean. The silver know as “sycee" is 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. Smaller transactions are conducted in clean Mexican dollars, or equivalent dollars from the various provincial mints, smaller subsidiary provincial silver coins 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 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
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