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British chops and would be very slow indeed to return
to the German chops. The Chinese, in their opinion
were quite ready to accept the natural effects of a
great war and were astounded at the pusillanimous
policy of the British in trade matters.
I told Mr. Bain that you heard that at home 50%
of the Manchester trade in China was gaid to be in alien
hands;
but he assured me from his special knowledge
of the piecegoods business here that such a claim was
ludicrous. He saw quite clearly that the German could
get Chinese orders since the German ran no risk whatever
and could promise the Chinese not to take any steps in
case when the goods should arrive consigned to the
custody of a British bank, the market was not favourable,
for the lose would of course fell on the British shipper
through the British bank. What he could not see was any
sound reason for Manchester to keep alive anery firms in
China at their own cost and risk through their being
paid for the goods only after sale in China, eince the
British