*
280
REVENUE.
Compared with the collection of 1894, the gross receipts for the year, Hk. Tls. 21,385,000, show a decrease of Hk. Tls. 1,138,000. This deficit is fully accounted for by the fact that the Newchwang Custom House, whose annual revenue averages half a million taels, yielded nothing during the Japanese occupation of that port, and on the cession of Formosa to Japar in June the two Customs offices in that island ceased to function. The slight decrease under the heading of import duties and more marked decline against coast trade duties (ex cepting native opium) are also ascribable to the stoppage of revenue at the occupied and ceded ports. Assessing the loss in export duties at Hk. Tls, 680,000, owing to the absence of receipts at Newchwang throughout the year and from Formosa subsequent to its cession, the sum derived from exports, Hk.Tls. 8,775,000 (excluding native opium), must be regarded as singularly encouraging, as it exceeds the col- lection of any former year and indicates a mar- vellous expansion in the foreign and domestic trade of the empire The items contributing to the increase in the foreign division are tea, silk, matting, firecrackers, skin rugs, and cloth. ing; and tin and grain to the domestic trade. The duty paid by opium, Hk. Tls. 2,250,000, is about the same as during the previous year; but if Hk Tls. 711.900 (as against Hk. Tls. 363,100 in 1894), derived from native opium, are subtracted from this total, it will be seen that there is a decrease of Hk. Tls. 354,000 in the amount yielded by Indian opium, while under the heading of opium likin the deficit amounts to Hk. Tls. 946,100 as compared with the figures of 1894. The cessation of shipments to Newchwang-never very large -coupled with the fact that since June no cognizance was taken of the consumption in Formosa, which would have absorbed over 2,000 piculs, accounts to a certain extent for this diminution in the returns; but there can be no doubt that native opium has supplanted the foreign article, as shown by the decreased im- portations at all the ports. Transit dues paid to free imports to and produce from the interior exhibit a gain of Hk. Tls. 97,000 as compared with the receipts in 1894; to this excess foreign imports contributed Hk.Tls. 61,400 and Chinese produce intended for ship- ment abroad Hk.Tls. 35,600. The figures for tonnage dues are about the same as in 1894.
FOREIGN TRADE.
THE HONGKONG WEEKLY PRESS AND
Taking into consideration the gloomy outlook and adverse fuences prevailing during the early part of the year the statistics of the foreign trade of China show admirable results. More merchandise entered and left the ports than in the preced- ing year, showing an aggregate increase in the value of imports and exports of 24 mil- lions, and although, as explained below, a large share of this gain is merely statistical, there has been a genuine improvement and expansion in trade with both Western and Asiatic countries. Steadier exchange favoured business with gold-standard countries, while a large demand for coal, ginseng, matches, seaweed, and refined sugar, added to the scarcity of rice in Kwangtung and Fuhkien, made good by imported grain, swelled the value of trade with countries adjacent to China. Since the East has now entered into competition with the West in supplying China with textiles, additional entries have been made in the list of imports under the heading of cotton goods, to enable future comparison of the share taken by Oriental made cottons in the piece goods trade
|
[April 1, 1896.
prices and thus curtailing demand at all the 1886 and 1890 when exchange rose, a native ports, combined with the improved quality and desiring to purchase one piece of Eng- cheapness of native drug. Of Malwa, Patna, lish camlet, long ells, and lustre could Benares, and Persian opium only 51,306 piouls obtain the lot lot for Tis. 24.54, while for were landed, being 11,819 piouls than in the the same quantity and class of goods he would previous year, By a singular coincidence this now have to expend Tls. 33.92, or 38 per cent. deficit corresponds closely with the total more. At such enhanced rates woollens, are shipment-11,779 picals-of native opium from little sought after for apparel, as ordinary silk No trade seems to Chungking, in the province of Szechuen, for dis- and satin costs little more. tribution amongst the ports, though this quantity have suffered more from the rise in the silver is only a moiety of what leaves that western-price of gold than that in metals, and the year's most port by other routes and conveyance. statistics do not exhibit any recovery from the From Mengtez, in Yunnan, 603 poiculs were prevailing stagnation. In 1891, when the exported to Tonkin and small shipments of Haikwan tael averaged 4. 11d., the aggregate Szechuan drug have been made to the weight of all kinds of metals demanded by Straits. A decade ago the amount of Indian this market reached of 2, 06,000 piculs, but, opium landed at Hongkong for consumption under the influence of low exchange, the total in China reached 96,164 piculs, and in 1886 quantity landed has dwindled to 1,550,000 piculs 67,800 piculs passed through the Custom in 1895. Importations of iron of all descrip- Houses, whereas 51,306 piculs satisfied the re- tions-bar, hoop, wire, pig, and old scrap- quirements of consumers during the year under amounted in 1891 to 1,726,000 piculs, whereas notice. There is a large increase in the at present high prices 1,071,000 piculs fulfilled importation of morphia, which indicates a the requirements of the year.
For old scrap greater use of so-called anti-opium pills and iron, which always constituted the bulk of the that indulgence in morphonism is spreading. iron importations, there was a large and almost To Western manufacturers of textiles the year's limitless market, and in 1891 deliveries. reached statistics will prove encouraging, for, despite 859,000 picula, but the appreciation of gold the appreciation in the silver cost of goods, the appears to have so effectually stunted this demand for staple cottons has improved, parti- traffic that consumption is reduced to 413,000 cularly in the case of grey shirtings (which piculs, or 50 per cent. less than the demand five advanced by 548,000 pieces), T-cloths, and years ago. Several additions have been made English sheetings. But to determine whether to the list of sundries, as the aggregate value the trade has really developed concurrently with of many commodities increased to such an enhanced prices, the enormous consumption of extent as to warrant separate enumeration in yarn, and the opening of new markets, it the table; amongst them the most prominent is necessary to compare the total offtake of are bags, Llama braid, candles, cement, cigars principal cloths during the first and second half and cigarettes, palm-leaf fans, lamps, lather, of the decade, and the result shows that in the Japanese matches and umbrellas, medicines, aggregate there has been a significant decline kerosine oil from Sumatra, and refined in the importation of the cottons specified here-
sugar. On glancing down the list it will under.
be seen that over five million more bags 1886-90. 1891-95.
were required than in 1894, owing to the enormous coastwise shipments of grain. Pieces. Pieces. Deliveries of coal, mostly Japanese, exceeded .29,836,000 26,973,000 | those of the previous year by 86,000 tons. 11,930,000 11,213,000 | Cigars and cigarettes are imported in ever- .10,851,000 8,709,000 increasing quantities, and represent a value of 1,742,000 1,117,000 Hk Tls. 280,000. A cigarette factory is in 2,802,000 3,156,000 operation at Shanghai. The consumption of 3,093,000 3,440,000 duty-free flour has doubled within five years, the 6,359,000 6,276,000 present importation being valued at Hk. Tls. 1.465,000 against Hk. Tls. 704,000 in 1891, and, as in the case of rice, most of it enters the Kwang- tung province. The miserable paddy crop in that province had to be made good by over 9,000,000 piculs of duty-free foreign rice which passed through Kowloon and 5,955,000 piculs paying duty from the ports on the Yangtaze. The estimated value of the Siamese and southern grain consumed was Hk. Tls. 15,000,000, and of- the native rice Hk. Tls. 10,370,000, or a total of HkTls. 25,370,000. That the province of which Canton is the capital can pay over 25 million taels for food products without any unusual dis- tress or scarcity being heard of speaks marvels for the resources of South China. As compared with the figures of 1895, double the quantity of machinery arrived in China. For European and Japan matches there is a constantly grow- ing demand; 8,116,000 gross (of which 7,265,000 gross were Japanese) constituted the year's supply, whereas a decade ago the importation was under two million gross. Strange to say, fint stones - have not disappeared from the list. In kerosine oil there is a diminution of over 18 million gallons, the decrease being in American oil, owing to excessive stooks at the end of 1894 and a tem- porary sufficient supply in America, which brought about a suspension of shipments to the East and caused a considerable advance in price. The demand for Russian oil accordingly increased and shows a gain of nine million gallons, while that from Sumatra has quadrupled during the year. The explanation made in the statistical increase in the regard to aggregate value of imports applies to the gain noticeable in the case of unenumerated sundries.
Shirtings, Grey
White T-Cloths Drills, English
American
Sheetings, English
American
Total 66,613,000 60,884,000 The increased cost of cotton goods is account- able for this annual shrinkage of over a million pieces; and as an instance of the enhanced price which the consumer has to pay for British and American cottons owing to the fall in the gold value of the tael, one example, taken from Mr. G. W. Noel's market report of the 20th De- cember last, giving past and present quotations, will suffice. It is there shown that at the close of 1886, with exchange at 48. 64d, and cotton in Liverpool at 51d. per lb., a Chinese could buy at auction in this market an assort- ment totalling seventeen pieces of standard chop shirtings, T-cloths, jeans, sheetings, and drills, at a cost of Tls. 31.85, whereas the same goods in 1895, with exchange at 2s. 11d. and cotton at 44d. per lb., would cost Tls. 40.71, or an advance of over 27 per cent. With such a rise in the price it must be regarded as satisfactory that the demand for cottons con- tinues so good. But the yearly importation of a million odd piculs of Indian yarn affords evi- dence of the vast increase in the native hand- weaving industry throughout the Empire, which the high price of cotton fabrics has stimulated in such a marked degree, to the displacement of imported goods. In this connection it should be noted that, besides the native cotton mills (a.) Imports-The net value of the import mentioned in last report as projected or operat trade of 1895 exhibits an increase of over nine ing, further capital, aggregating Tls. 3.800,000, and a half million taels, but it is necessary to has been subscribed during the year by foreign observe that the gain is illusory rather than joint-stock companies for the erection in Shang- real, as in consequence of the occupation and hai of four spinning and weaving mills, capable acquisition of Chinese territory by Japan, quite of running 143,000 spindles; and during the seven million taels, representing the value of year 1897 there will probably be 18 or 20 (b.) Exports.-It should be borne in mind coastwise traffic formerly credited to domestic European, Chinese, and Japanese cotton mills that of the 15 million taals increase in the valne trade, have been transferred to the foreign established at this port. In woollens, such as of the year's export trade fully sir million taela division. The marked falling off which char- camlets, lastings, long ells, and blankets, there are due to the altered fiscal and statistical treat- acterised the opium trade of 1894 has not been has been a slightly better demand, probably due ment of the coast traffic, necessitated by the arrested, but, on the contrary, shows a still to military requirements; but trade remains events of the war, as explained in the introduc more conspicuous decline, and apparently from stagnant, and the figures of the year's importatory remarks in connection with the import the same cause given in last report in explanations are still far below those of the middle of trade. There is, however, an actual gain of tion of this retrograde movement, namely, re- the decade. Nor is the cause far to seek. The inne million taels, owing to the hotter demand; stricted production in India greatly enhancing market report already quoted shows that in induced by low exchange, for nearly all kinds
with China.