50
CHINA.
Hence it will be seen that the total value of the trade at the port of Canton for the year 1867 was 39,052,034 dollars, and the actual value during the same period was 34,775,612 dollars, or in sterling 8,623,990l. 16s. 10d. and 7,679,614l. 6s. 4d.
The difference in the value of foreign trade in the years 1866 and 1867 will be shown by the following Table :-
1866 1887 Increase Decrease IMPORTS. Goods-Foreign and coast trade Dollars. Dollars. Dollars. Dollars. Treasure 14,171,000 14,090,681 5,878,085 2,325,373 3,552,712 EXPORTS. To foreign countries 14,785,000 14,069,858 715,142 To Chinese ports 4,048,000 4,383,298 335,298 Treasure 4,834,000 4,232,926 601,074 43,211,035 39,062,084 4,444,287This decrease in the value of the trade in 1867 compared with that in 1866 is owing partly, as before observed, to the market quotations being considerably lower than in the previous year, but more especially to the great falling off in the import of treasure, amounting to close on 3,500,000 dollars. This, however, may be accounted for by the fact that Chinese merchants accept and even prefer payments for produce being made to them by cheques on the Hong Kong banks, thus rendering the importation of treasure unnecessary.
As remarked in former Reports, the foreign Custom-house returns give only what passes through that department, and, therefore, afford no criterion of the actual trade of the port in foreign merchandize and produce, large quantities of which, piece goods, raw cotton, metals, Straits' produce, and rice are brought in junks and native craft from Hong Kong, and pass through the native Custom-house, and of these no accurate return can be obtained. It has been attempted, but with little success, and until something like accuracy in this very important feature of the trade is arrived at, it is hopeless to attempt anything like certainty in saying what is the actual value of foreign trade at the Port of Canton.
As regards the import trade, it may be said to have passed entirely into Chinese hands, the difference only being, as far as the foreign merchant is concerned, that Chinese purchase the goods at Hong Kong instead of Canton, and import them themselves.
The following Table gives the lowest and highest market quotations during the past year, but they are only nominal:-
Taels and Dollars. Cotton- Raw Indian Piculs Yarn native 16 to 24 Taels. 12 28 to 32 51 Shirtings Grey Dollars. 50 to 68 :: 443 White 38 to 42 White spotted 65 to 85 Piece Coloured spotted 5 to 5 catties White brocades 2.29 to 3.75 61 to 61 3.25 to 3.95 Dyed 7 to 7 3.60 to 5.70 American drills 40 yards 6.0 to 7.50 Jeans 30 4.20 to 5.50 17 +1 4.70 to 7.60 32 inches Yard 2.70 to 5.50 H and H H scarlet 0.80 to 1.12 Pieces 9.50 to 10.80 Assorted 7.90 to 9.40 16.50 to 19.0 16.50 to 23.50 Iron Piculs Nail rod Wire 37 Lead Quicksilver Flasks 170 T-cloths Spanish stripes Long ells Lastings Camulets 3.0 to 4.0 7.50 to 8.80 6.70 to 7.75 0 to 74.50With the exception of from Siam and the British Straits Settlements there have been no direct imports from foreign countries. What is called Straits' produce, consisting of wood, rice, pepper, rattans, sea-weed, sharks' fins, betel-nut, &c., finds its way to Hong Kong, which is, in fact, the emporium of China generally, and to which the Chinese merchants resort to make their purchases. In piece goods, however, imports show a considerable increase. Of grey shirtings, the excess is 33,826 pieces; and of white, 9,657; handkerchiefs, 33,522 dozens; Indian cotton, 106,479; yarn, 6,685 piculs. Opium shows a decrease; but this is attributable to the Chinese Local Government having allowed it to be carried to the neighbouring districts direct, instead of passing through the Canton Customs as heretofore, the result of which was, an enormous smuggling trade, loss of revenue, and detriment to those who paid the duties.
The large business formerly done in Indian raw cotton, and which the requirements of the home market caused by the failure in the American supplies diverted from this port, has never recovered itself. The loss was partially made up by native produce from the northern provinces; but, nevertheless, the deficiency in supply was very large. To some extent, British manufactured goods supplied the absence of, and replaced the native manufacture; but the former, although cheaper, are wanting in consistency and durability, or, in other words, weight and strength compared with native manufactured fabrics, and consequently, are not held in the estimation the latter are. Indeed, white long cloths are so loaded with size and composition to give them a good face and weight, that they are viewed with great suspicion by the mass of the people, who are really the purchasers and consumers of foreign cotton manufactures; and the same may be said of dyed fabrics. The failure of supplies of the raw material enhanced the price of the native manufacture, but no nation is more...
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