SHANGHAI.
353
at the lower end of the haroour measures 450 feet on the brocks with a depth at high water springs of about 21 feet. All steamers and most sailing vessels now discharge and load at the various public and private wharves. The premises of the Associated Wharf Company has a frontage of about three-quarters of a mile. The Chinese have an Arsenal and shipbuilding establishment at Kaou Chung-mow, a short distance above the city. The Great Northern Telegraph Company's cable was laid to Shanghai in 1871, and there are now two lines of communication with Europe. The Eastern Extension Company has an agency for the receipt of messages. A railway constructed by a foreign company was opened to Woosung in June, 1876, but after running for sixteen mouths it was purchased and taken up by the Chinese Authorities. During the short time it was running the passenger traffic alone covered the working expenses, leaving sufficient profit to pay a small dividend. In 1877 the property of the Sang- hai Steam Navigation Company, a foreign association owning the principal li of steamers trading to the Yangtsze and Northern ports, was bought by the Chinese Government, acting through the China Merchauts' Steam Navigation Company, for the sum of two million tals. The property then taken over consisted of about fifteen steamers, a dock, and extensive wharves and godowns in the French Settlement and at Hongkew.
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 r. spect unexcelled by any port in the East. There are three daily newspapers, the North China Daily News, morning, and the Shanghai Courier and hanghai Mercury, evening, also two weeklies, the North China Herald and the Celestial Empire. There are three native daily papers; one of them, the Shun-pao, sold at the price of eight cash, equal to a farthing and a balf, has a very large circulation; one of the others is the organ of the officials. In one matter, that of Postal accommodation, Shanghai is incon- veniently 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 departineut 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 correspondence passing through either the British or Local Offices, All foreign hongs and even private houses have to give themselves fancy Chinese names, by which only they are 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 i 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 million pounds, and Silk during the same period seventeen thousand bales. The total import and export trade of 1868 was sixty-five million Taels. It is now double that amount. The total trade in foreign bottoms, import and export for 1880, as given by the Customs Statistical Department, was Haikwan Tls. 141,921,857, equal to about $220,000, 00 or a little under for y two millions sterling. This exceeds the amount in any previous year. It may be summarised as follows:--
Imports of Foreign Goods from Great Britain... Imports of Foreign Goods from India
Imports of Foreign Goods from Hongkong Imports of Foreign Goods from Japan... Imports of Foreign Goods from United States
...
Tls. 23,386,094
26,803,699
6,441,057
3,479,934
Imports of Foreign Goods from Continent of Europe Imports of Foreign Goods from Straits and Australia Imports of Foreign Goods from Chinese Pes Imports of Foreign Goods from other Countries
3,3 0,312 2,431,330
1,131.846
915,003
351,878
Hk. Tls. 68,244,153