804
•
The Opium Trade was far from prosperous during the past year. In the Bengal drug, owing to large stocks early in the season and a declining exchange in the latter half of the year, the business done, though considerable, was productive of loss to both importers and native dealers. The demand for Malwa was poor and disappointing, and the prices obtained left no margin for profit. Owing to the Formosan Government being practically the only buyer of superior Persian, the rates for this drug fell from $825 per picul, the opening quotation, to $640 per picul in the latter end of the year.
As regards the trade in Indian Cotton yarn, the year under review shows a decidedly marked improvement over the previous twelve months.
The Imports to Hongkong and Shanghai, which showed a shrinkage of close upon 60 per cent. in 1900, increased again over 100 per cent. during the past twelve months, whilst sales in Hongkong showed an excess of 45,715 bales and those in Shanghai of 69,083 bales.
A great and important movement has taken place which has opened the whole of the markets of inland China to the world. Manufacturers on the spot will cer- tainly be unable, at least for some time, to meet the greatly increased demand which will thus be occasioned; and in the meantime India may fairly hope to reap some share of the harvest, more especially if Lekin-a veritable millstone round the neck of this trade-is effectually removed.
The following figures are of interest:—
COMPARATIVE TABLES OF IMPORTS AND EXPORTS AND REPORTEDŜALES OF INDIAN GREY YARN EFFECTED IN HONGKONG AND SHANGHAI DURING THE YEARS 1876 To 1901.
Imports
to
Direct shipments from India to Shanghai
Total Imports to
Year.
Hongkong
China and
from India.
and Japan.
Japan.
Total Sales effected
in Hongkong.
Total sales
in Shanghai.
Bales.
Bales.
Bales.
Bales.
Bales.
1876
17,598
17,598
6,758
1877
30,288
30,289
17,806
1878
37,799
37,799
30,031
1879
47,338
6,721
54,059
42,093
1880
60,265
3,980
64,245
49,571
1881
55,705
7,834
63,539
54,411
1882
82,286
6,458
88,744
77,945
1883
97,200
16,514
113,714
89,889
1884
137,075
12,858
149,933
112,450
1885
150,221
27,954
178,175
147,894
1886
175,291
50,089
225,380
142,974
1887
178,790
88,435
267,225
182,152
1888
187,368
90,242
277,610
182,198
1889
225,457
104,850
330,307
197,941
55,401
1890
209,689
167,353
377,042
187,330
104,016
1891
218,732
171,130
389,862
161,504
134,337
1892
237,569
186,305
423,874
219,189
154,386
1893
207,935
119,625
327,560
171,491
112,786
1894
237,260
146,121
384,381
169,117
129,938
1895
257,803
144,250
402,053
213,854
120,911
1896
256,367
244,376
500,743
215,375
151,935
1897
279,412
167,623
447,035
187,948
117,861
1898
308,978
168,467
477,445
221,144
147,678
1899
315,369
288,307
603,676
205,441
167,860
1900
153,610
110,409
264,019
152,277
125,796
1901
291,885
228,688
520,573
197,992
194,879
SHIPPING.
The total tonnage entering and clearing during the year 1901 amounted to 19,325,384 tons, being an increase, compared with 1900, of 880,248 tons, and the same in excess of any previous year. Of this increase, 165,128 tons are due to the