312
SHANGHAI.
passenger traffic alone covered the working expenses, leaving sufficient profit to pay a small dividend. In 1877 the property of the Shanghai Steam Navigation Company, a foreign association owning the principal lines of steamers trading to the Yangtze and Northern ports, was bought by the Chinese Government, acting through the China Merchants' Steam Navigation Company, for the sum of two million tals. The property then taken over consisted of about fifteen steamers, a dock, and extensive wharfs and g downs in the French Settlement and at Hor gkew.
The hotel accommodation of Shanghai was formerly, like that of Hongkong and Yokohama, of the most miserable description, but by the opening of the "Central" and the re-building of the "Astor House" in 1876-77, it is now in this respect unexcelled by any port in the East. There are three daily newspapers, the North China Daily News, morning, and the Shanghai Courier, and Shanghai Mercury, evening, also two weeklies, the North China Herald and the Celestial Empire. There are two native daily papers; one of them, the Shun-pao, sold at the price of eight cash, equal to a farthing and a half, has a very large circulation, the other (the Sin-pao) is the organ of the officials. In one matter, that of Postal accommodation, Shanghai is inconveniently over-supplied, there being British, French, American, Japanese, Local, and Customs Post offices. It is hoped that the Chinese Government may soon establish a general postal department in connection with the International Union, to be under the control of the Foreign Customs, or that failing this the other Authorities may consent to all corespondence passing through either ti.e British or Local Offices. All foreign hongs and even private houses have to give themselves fancy Chinese names, by which only are they known to the natives. The system is, however, found to have its conveniences.
The currency of Shanghai is the tael of silver, cast into "shoes" of fifty taels, more or less. The foreign banks issue notes of the value of five taels and upwards. Smaller transactions are conducted in clean Mexican dollars and copper cash. There are seven foreign and innumerable native banks in the Settlement.
Shanghai is the great emporium for the trade of the Yangtsze and Northern ports and to a considerable extent for Japan. The export of Tea from 1846 to 1850 averaged sixteen mill on pounds, and Silk during the same period seventeen thousand bales. The total import and export trade of 1868 was sixty-five million taels. In the twenty years which have elapsed this has been nearly doubled. The total trado in foreign bottoms, import and export for 1878, as given by the Customs Statistical Department, was Haikwan Tls. 111,000,000, equal to about $170,000,000, which may be summarised as follows:-
Imports from Great Britain... Imports from India
Imports from Hongkong
Imports from Japan
Imports from United States...
Imports from other Countries
+
..
•
Tls. 14,937,692 21,076,822 5.725.597 3, 91.689 2,253,148 2,-30,49
Hk. Tls. 49,921.439
Of this ancuat there was re-exported, principally to the northern and Yangtsze ports, to the value of Haikwan Tls. 36,734,035.
Imports of Opium ...
Imports of Cotton Goods ...
Imports of Woollen Goods Imports of Metals
Imports of Coal
Imports of Ginseng
Imports of Timber...
Imports of Kerosine Oil Imports of Seaweed Imports of Sundries
***
A
++
***
J
•
*
Tls. 21,6,124
12,962,295
4,492,969
2,743,7.5
942,320
895,564
698,572
624,097
598,649
4,363,074
Page 327 Page 327
Hk. Tls. 49,921,439
sted by
Page 327 Page 327