1920-1930
51
441
GEORGE V celebrated (22/6). H.M. Government made the Colony a grant of £12,000 for the year 1911-12 on account of loss of opium revenue. Board of Chinese Vernacular Primary Education constituted (7/9). Chinese Section Kowloon-Canton Railway opened for through traffic (4/10). Revolutionary movement in China reflected in Colony by some rioting (6/11). Peace Preservation Ordinance proclaimed (29/11). Many cases of disorderliness, assaults and petty thefts. Armed military patrols paraded the streets daily.
Trade & Industries.-During the early part of the year trade prospects were favourable, but the unrest in Kwang Tung province considerably curtailed credit, and business, especially in the import trade, suffered severely. Money was easy at the beginning of the year but became tight during the latter months. The imports of raw sugar showed a further falling off since 1910. The opium trade was greatly affected by the Opium Agreement of May. Prices fluctuated greatly and certified opium reached the abnormal figure of $5,000 in September, only to decline later. The actual imports and exports showed a decrease of roughly 30% as compared with 1910. The total of the shipping entering and clearing at Ports in the Colony amounted to 543,570 vessels of 36,179,152 tons. This decrease as compared with 1910 was largely due to the unrest in China and strikes in the United Kingdom. The flour trade was particularly good, the receipts in Hong Kong being nearly doubled. The price of rice was high and fluctuated greatly, and the Hong Kong rice merchants lost heavily. Silk, piece goods, yarn and coal all suffered from the political unrest during the latter half of the year. A few firms benefited by a boom in fancy goods, European clothes, hats and boots which was the direct result of the revolution. Exchange was fairly steady with a slight upward tendency towards the end of the year when it stood at 1/10.7.
16
1920-1930
51
441
GEORGE V celebrated (22/6). H.M. Government made the Colony a grant of £12,000 for the year 1911-12 on account of loss of opium revenue. Board of Chinese Vernacular Primary Education constituted (7/9). Chinese Section Kowloon-Canton Railway opened for through traffic (4/10). Revolutionary movement in China reflected in Colony by some rioting (6/11). Peace Preservation Ordinance proclaimed (29/11). Many cases of disorderliness, assaults and petty thefts. Armed military patrols paraded the streets daily.
Trade & Industries.-During the early part of the year trade prospects were favourable, but the unrest in Kwang Tung province considerably curtailed credit, and business, especially in the import trade, suffered severely. Money was easy at the beginning of the year but became tight during the latter months. The imports of raw sugar showed a further falling off since 1910. The opium trade was greatly affected by the Opium Agreement of May. Prices fluctuated greatly and certified opium reached the abnormal figure of $5,000 in September, only to decline later. The actual imports and exports showed a decrease of roughly 30% as com- pared with 1910. The total of the shipping entering and clearing at Ports in the Colony amounted to 543,570 vessels of 36,179,152 tons. This decrease as compared with 1910 was largely due to the unrest in China and strikes in the United Kingdom. The flour trade was particularly good, the receipts in Hong Kong being nearly doubled. The price of rice was high and fluctuated greatly, and the Hong Kong rice merchants lost heavily. Silk, piece goods, yarn and coal all suffered from the political unrest during the latter half of the year. A few firms benefited by a boom in fancy goods, European clothes, hats and boots which was the direct result of the revolution. Exchange was fairly steady with a slight upward tendency towards the end of the year when it stood at 1/10,7.
16
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