August 20, 1906.]
CHINA PORTS AND TRADE.
In the course of his report on the trade of Tientsin for the years 1904-3 Mr. Consul-General Hopkins has some interesting observations to make, which we reproduce. "Since 1895," says Mr. Hopkins," the position of Tientsin among the leading ports of China bas undergone a radical change, and this change, as might be surmised, dates from the years 1900 and 191, when Tientsin was engulfed in the whirlpool of the Boxer outbreak, the extent of the influenca of which caunot yet be accurately gauged. Placing Shanghai in a class by itself, it will be found that a keen struggle for the second place has been maintained by Tientsin, Hankow and Canton. There are two phases in this struggle during the past decade, separated from each other by the abnormal years referred to above. As regards the first phase, it may be gathered from the customs tables that Tientsin was ahead of its rivals in imports, far away behind them in exports (not including re- exports), and in the total trade maintained a lead over Cantou and approached closely to Hankow, which it even passed in 1898. But a very different story is told after 1901. Thanks to a arge increase in its imports, Tientsin retained ts superiority in that line over both Hankow and Canton, but the former went ahead on the total for 1902. In 1903, however, Hankow passed Tientsin iu imports and in the total, while for the first time in the 10 years the total trade for Canton exceeded that of Tientsin. In 1904 the same occurred again, Hankow increasing its lead considerably. The following are the figures for the three ports in 1904 and for Tientsin in 19057 The figures for Tientsin in both years include the trade of Chin- wangtao:-
CHINA OVERLAND TRADE REPORT,
There
or
were
103
The growth of the export trade has been spread with tolerable uniformity over all the principal staples. As for the groups that exhibit the most marked increases, they are
4
Beverages and Comestibles" (4 million yen in round numbers), "Metals and Metal Manu- factures' (4 millions), "Tissues Yarns, Thread and their Raw Materials" (104 millions), and Miscellaneous" (II millions). The other increases are few and insignificant.
In imports the diminution, which amounts in all to 63,413,300 yeu, is spread over the whole range of staples with a very few exoep. tions.-Japan Mail.
nary study of Consular and other trade 1894. Thus in two years the Treasury's semi- reports would make it abundantly clear annual revenue from this source has bжen more to many of these merchants either that|| than doubled, owing to the operation of the last there was no market for their wares revision of the statutory tariff. The Treasury that there was a better market elsewhere claims that the increased scale of duties which in China. A glance at such letters re- is, to come into operation from October 1 is ceived at his Majesty's Consulate-General, imposed solely for the sake of revenue and Tientsio, during 1905 will give an idea of not at all for protective purp›80s. If we look what is meant. Three applications
to the year 1895-the year after the conclusion received from makers of musical instruments of the revised treaty with Great Britain—and who had heard of the proposed institution in observe that the customs daties then brought China of military bands and wished their names to the Treasury a revenge of only 6,634 5×2 yen, brought to the notice of the authorities con- whereas the revenue this year will probably be cerned. One application came from a manu- in the neighbourhood of 50 millions, we obtain facturers of paper mill machinery, who also a striking example of the financial benefit wished to be brought in touch with the Chinese Japan has derived from the new régime. Government.
are inquiries from s Her income from customs dues alone will soon manufacturer of tools. of corks, of goods for suffice to pay the interest on her whole foreign electrical purposes, of iron and steel tubes, and debt, greatly as the war increased it. of cream, from a supplier of groceries and s contractor for dredging operations and the supply of dredging machinery, all of whom wished to learn whether there was any opening for them to utilise with a view to expanding their business. These applications were reasonable and justified by statements in various trade reports and by the requirements of the port. In another class, however, should be placed the and manufacturers who were merchants looking to Tientsin to increase their sales of diving apparatus, sanitary earthenware, brakes for cycles, agricultural implements, pneumatic golf balls, aseptic hospital furniture, or motor vehicles, of which the demand for some does not exist and for others is very small sull supplied by the wholes ile importers in Shang. bai. One applicant wished to export China wood oil to Canada. A reference to the customs tables would have shown to him that, so far from being exported from Tientsin, this IMPORTS. EXPORTS. TOTAL. article is imported. On the other hand, in
Taels. Tuels. Taals.
1904 the export from Shanghai was 204,674 84,819,608 63,085,050 147,904,658 cwts, and from Hankow was 55,839 cits. 53,497,039 43,361,439 96,858,478 Another writer wished to import ginseng
havio Tientsin, 63,799,860 18,207,981 82,007,841 | into
gathered vaguely that there was a demand for this article Tientsin... 104,591,676 17,773,318 122,364,988 | in China. So there is, but not in lientsin, more than 415 lbs. were "Hankow, however, is Tientsin's antagonist for in 1906 in the struggle for existence, apart from that imported, whereas during the same year in for supremacy.
It is true that both ports Hankow the import was 47. 46 lbs., of which supply and draw upon districts more or less 20,545 lbs. were re-exported, and in Shanghai their OWD, but there is a certain area common the net import was 212,822 lbs. Numerons to both, and though it is perhaps too early to suggestions have been made as to how this state speculate on the possible result of the completion of affairs might be remedied and the almost of the Peking-Hankow railway and though it universal consensus of opinion to be gleaned cannot yet be stated for certain whether the from the reports of his Majesty's Consulsiu effects of the Boxer outbreak are likely to be China, is that the only method of pushing permanent, or even whether the alteration in British manufactures is by means of Chinese- the respective positions of the two ports is due speaking commercial travellers, with numerous to that outbreak, still it behoves the Tientsin samples of their goods and working models of merchant to bestir himself and to seek out and their machinery. One might eveu take a leaf remedy, if possible, the canses of the comparative out of the book of the Viceroy of Chibli, who retrogression of his port.
has already taken practical steps in helping the trade of his district by the establishment of a commercial museum in which are exhibited specimens of every article made in the province and to each article is attached a ticket giving the address of the makers, the price, &c.
1904. Hankow
Canton
Tientsin
1905.
"The fact remains that the initial advantages of Hankow in being situated on a large and central waterway, the ramifications of which tap some of the richest districts of China, and at the point of convergence of the Peking- Hankow and the projected Canton-Hankow and Ssuchuan-Hankow railways, are immeasurably superior to any that can be credited to Tientsin. Moreover, Hankow has what Tientsin has not, an export trade that is not too hopelessly out- weighed by its import trade and is therefore becoming far the largest market. And, to quite the words of Mr. Jamieson, Commerc ́al Attaché to his Majesty's Legation, Tientsin would do well not to forget that large markets possess large powers of attraction. At the same time it cannot be denied that the vested interests in Tientsin are far greater than those in Hankow, and the business of the northern port is characterised by an energy and a push in which the river port is sadly lacking.
"Of late years it has been customary to make British Consular officers the scapegoats for the failure of British trade to keep pace with its foreign competitiors, but a cursory inspection of the archives of any Consulate in China will show that the fault lies to a great extent with the inability or unwillingness of the British merchant at home to adapt himself to new ways and with his general ignorance of the conditions of trade and life in so distant a country as China. It is interesting to examine the letters from merchants in the United Kingdom applying to a Consul to assist them in extending their business in his district. A brief prelimi.
BO
JAPAN'S FOREIGN TRADE.
The signal fallin r off is in imports. These aggregated 286,462,861 yen in 1905 and only 223,049,561 yen in the current year, a diminu. tion of 63,413,300 yen. On the other hand. exports increased from 142,767,953 yen in 1905 to176,070.718 yen in 1906, being a development of 33,902,765 gen.
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COMPANIES
HONGKONG AND SHANGHAI BANKING CORPORATION.
The ordinary half-yearly meting of share. holders in the Hongkong and Shanghai_Bank- ing Corporation was held at the City Hall on Angust 18th. Mr. A. Haupt, chairman of directors, presided, and there were present- Messrs. H. Medhurst, Goetz, Hon. Mr
W. J. Gresson. Messrs. C. R. Lanzmann D. M. Nissim, A. J. Raymond, N. A. Siebs H. A. W. Slade and H. E. Tomkins (directors) Mr. H. E. R. Hunter (acting chief manager) Messrs. E. C. Ray. H. N. Mody, A. Hancock E. Georg, C. W. May, J. C. Peter, R. R Gonsalves, K. D. Gazdar. Lo Cheang-shiu F Warrack, C. J Hynd, D. Forbes. A.
Ho Kom-toug, Cheung Pai-kai, A. Stott, F. G. Schrotter, A. G. Wood, J. J. Leiria, G. L. Tomlin, W. H. Ray, W. H. Potts, E. J. Barrett. 8. Hancock, W. H. T. Davis, Hon. Mr. E. A. Hewett, Messrs. Marray Stewart, H. Percy Smith, W. H. Wickham, B. Layton, J. A. Jupp, and O. Von der Heyde.
Mr. HUNTER having read the notice con. vening the meeting.
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The CHAIRMAN read the report, after which he said:-Gentlemen,-It is my pleasing duty to address you ou a report which I think you will all agree is a most satisfactory one, and I hope The figures for Japan's foreign trade during you will approve of our recommendation to dis- tribute the profits in paying a dividend of £1. the first six months of the current year show a total of 399,720,279 yen. against 429.230.81415'- per share, placing $750,000 to Silver Reserve Fund, and carrying forward the balance yen during the corresponding period of 190$, a reduction of 20,510,535 yen.
of $1,712,472.87. Comparing the balance sh et with that of the 3'st December last we find tha'. a3 usual in the June half-year, our Notes in Circulation are less. There is a reduction of $47 lacs. Gold and Silver current accounts show comparatively little change. Fixed Deposits in Gold show & small increase; those in Silver are lower by $38 lacs. These reductions are reflected on the other side of the account, 862 lacs less, but, as security for an excess Note Circulation of $43 lacs, we have in addition $83 lacs of coin deposited with the Hongkong Government. Bills Payable show B reduction of $59 lacs, due to the fact that we had no Call Loans outstand. ing. It suited us to take advantage of a favour. able discount market. In this connection you will observe that Bills of Exchange rediscounted
on 30th June amounted outstanding
Doubtless his result will be welcomed by Japanese economists since the unfavourable balance of trad, which was 143,694,908 yen in the first six months of 19 5, fell during the corresponding period of the current year to 46,378,843 yen. It is probable that the three months of July, August and September will see heavy importatious in anticipation of the sw statutory tariff's operation, but on the whole the excess impor's will probably not be greater than it was in 1904.
The customs duties collected during the period under review were 19.797,23 yon against 17,561,956 yen in 1905, and 9,682,469 yen in
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Our Cash at $411 laos is
to
£5,150,877. 8. 10. This is an increase of £744,008 11. 2. compared with 31st December.
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