214
by the Chinese. Any restrictions imposed for the sake of the general health of the community can be as nothing compared to the many advantages the Chinese merchants enjoy here under British rule. The quarantine to which vessels from Hongkong are subjected may at times be detrimental to certain classes of trade, but it is only for part of the year, and business has been very much better at times when plague was more evident than it has been of recent years.
Local causes do not, however, explain a lack of demand from consuming centres, and it is of this that the Chinese Yam, Piece Goods, and Flour merchants bitterly complain.
One reason has thus been suggested to account for the present depression, and in order to see in how far it may be a true one it is necessary to consider what position Hongkong occupies as a trading centre. To begin with, it is not a consuming district. The population is comparatively small, and the percentage of the imports used here is really insignificant. The Colony has grown to its present size and occupies the position it does because it was found to be the most convenient and suitable port for landing, storing, and distributing goods intended for South China, Formosa, Manila, and even some other places further afield. In fact to some shippers in Europe and America Hongkong became synonymous with China, and transhipment and distribution were made from here to Singapore and the Straits in the South, and all ports up to Vladivostock in the North. Its splendid harbour, the freedom from all customs restrictions, and the security afforded by naval and military protection, these and other advantages combined to establish in Hongkong a merchant trade of great magnitude. But it would seem as if these were not so highly esteemed now as heretofore. It is said that business which would have formerly been passed through Hongkong as a matter of course is now done direct with the consuming centres, and on investigation there seems to be some measure of truth in this assertion.
The Returns of Trade and Trade Reports 1906, Part I, Abstract of Statistics, (Chinese Imperial Maritime Customs) give the value of the trade between Hongkong and China for eight years. The Colony's share in the trade of China as a whole is a decreasing one, and although the actual value of the imports from Hongkong has increased 20% during that period it has been stationary for four years, and that of itself is an unhealthy sign. But so far as China is concerned these statistics issued by the Customs are of little value when the object is to find out whether actual trade is being carried on here or not. Ocean steamers do not as yet call at the treaty ports, and as cargo for these places is still transhipped at Hongkong the entries in the returns show it as imported from this Colony. It is only by looking into such class of business individually that we can see what is really taking place.
The branches of trade which have already lost Hongkong are many, and in most cases it is difficult to see how they could have been retained. The Japanese have taken the Newchwang trade which used to be in Hongkong hands, and have also captured that carried on between Japan and Singapore and the Dutch Indies, with a detrimental effect on the Sugar trade with Java. Rice now goes direct to Para from Siam instead of through Hongkong. Kerosine Oil is imported to the treaty ports in bulk, instead of being distributed here. Flour, which used to be imported here and distributed far north and south is shipped direct to Shanghai, Chefoo, Tientsin, and Vladivostock, and Singapore now draws direct on Australia for the requirements of the Straits. There are other classes of business hardly so important which have also been diverted for good.
With regard to those trades which still remain with us some enquiry is necessary as to what extent they are likely to follow the above, or in how far the depression now existing may be caused by their having already done so to a smaller or greater extent.
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by the Chinese. Any restrictions imposed for the sake of the general health of the community can be as nothing compared to the many ad- vantages the Chinese merchants enjoy here under British rule. The quarantine to which vessels from Hongkong are subjected may at times be detrimental to certain classes of trade, but it is only for part of the year, and business has been very much better at times when plague was more evident than it has been of recent years.
Local causes do not, however, explain a lack of demand from consuming centres, and it is of this that the Chinese Yam, Piece Goods, and Flour merchants bitterly complain.
One reason has thus been suggested to account for the present depression, and in order to see in how far it may be a trua one it is necessary to consider what position Hongkong occupies as a trading centre. To begin with, it is not a consuming district. The population is comparatively small, and the percentage of the imports used here is really insignificant. The Colony has grow to its present size and occupies the position it doos because it was found to be the most convenient and suitable port for landing, storing, and distribut- ing goods intended for South China, Formosa, Manila, and even some other places further afield. In fact to some shippers in Europe and America Hongkong became synonymous with China, and transhipment and distribution were made from here to Singapore and the Straits in the South, and all ports up to Vladivostock in the Worth. Its splendid harbour, the freedom from all customs restrictions, and the security afforded by naval and military protection, these and other advantages combined to establish in Hongkong a merchant trade of great magnitude. But it would seem as if these were not so highly esteemed now as heretofore. It is said that business which would have formerly have passed through Hongkong as a matter of course is now done direct with the consuming centres, and on investigation there seems to be some measure of truth in this assertion.
The Returns of Trade and Trade Reports 1906, Part I, Abstract of Statistics, (Chinese Imperial Maritime Customs) give the value of the trade between Fongkong and China for eight years. The Colony's share in the trade of China as a whole is a decreasing one, and although the actual value of the imports from Hongkong has increas ed 20% during that period it has been stationary for four years, and that of itself is an unhealthy sign. But so far as China is concerned these statistics issued by the Customs are of little value when the object is to find out whether actual trade is being carried on here or not. Ocean steamers do not as yet call at the treaty ports, and as cargo for these places is still transhipped at Hongkong the entries in the returns show it as imported from this Colony. It is only by looking into sach class of business individually that we can see what is really taking place.
The branches of trade which have already loft Hongkong are many, and in most cases it is difficult to see how they could have been retained. The Japanese have taken the Newchwang trade which used to be in Hongkong hands, and have also captured that carried on be- tween Japan and Singapore and the Dutch Indias, with a detrimental effect on the Sugar trade with Java. Rice now goes direct to Para from Siam instead of through Hongkong. Karosine Oil is imported to the treaty ports in bulk, instead of being distributed here. Flour, which used to be imported here and distributed far north and south is ship- ped direct to Shanghai, Chefoo, Tientsin, and Vladivostock, and Singa- pore now draws direct on Australia for the requirements of the Straits. Thore are other classes of business hardly so important which have also been diverted for good.
With regard to those trades which still remain with us Some enquiry is necessary as to what extent they are likely to follow the above, or in how far the depression now existing may be caused by their having already done so to a smaller or greater extent.
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