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direct shipment. It may also be due to American goods taking the place of British and Continental, but many such goods formerly bought thro' the Chinese in Hongkong are now shipped direct from Europe.
Formosa is another market which has been to a great extent lost to us, the Japanese finding a good outlet there for many of their products.
Thus it would seem probable that the depression existing is in some measure due to direct purchases by the consuming districts. That Hongkong population has grown in districts outside those occupied by merchants is most likely due to the development of manufactures, and this is a most hopeful sign in the present position of the Colony. The thin end of the wedge has, however, been inserted into much of our merchant trade, and even although Hongkong may prosper in other ways there is no reason why steps should not be taken to retain at least what is left. We still have practically all the transhipping of the cargo, we have the storing of a fair proportion of it. What has been lost is the Chinese and sometimes the European merchant's profit. We have also the prospect that the larger this direct business grows the greater the chance that it will pay shipping companies to run steamers calling at these ports, with the loss to the Colony of the transhipping. The firms which have been pushing this direct business have been principally Germans and Japanese, people with no interest in the future of the colony. But their actions force others to follow suit, and whilst the merchants here may in the end suffer little, as they will simply establish themselves where the business is to be had, the Colony will feel the effects of losing its former position as the distributing centre for South China, Formosa, and the Philippine Islands.
(Signed) Alex S. D. COUSLAND.
3rd April, 1908.
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direct shipment. It may also be due to American goods taking the place of British and Continental, but many such goods formerly bought thro' the Chinese in Hongkong are now shipped direct from Europe.
Formosa is another market which has been to a great extent lost to us, the Japanese finding a good outlet there for many of their products.
Thus it would seem probable that the depression exist- ing is in some measure due to direct purchases by the consuming dis- tricts. That Hongkong population has grow in districts outside those occupied by merchants is most likely due to the development of manu- factures, and this is a most hopeful sign in the present position of the Colony. The thin end of the wedge has, however, been inserted in to much of our merchant trade, and even although Hongkong may pros- per in other ways there is no reason why steps should not be taken to retian at least what is left. We still have practically all the transhipping of the cargo, we have the storing of a fair proportion of it. What has been lost is the Chinese and sometimes the European merchant's profit. We have also the prospect that the larger this direct business grows the greater the chance that it will pay shipping companies to run steamers calling at these ports, with the loss to the Colony of the transhipping. The firms which have been pushing this direct business have been principally Germans and Japanese, people with no interest in the future of the colony. But their actions force others to follow suit, and whilst the merchants here may in the end suffer little, as they will simply establish temselves where the busi- ness is to be had, the Colony will feel the effects of losing its former position as the distributing centre for South China, Formosa, and the Philippine Islands.
(Signed) Alex S. D. COUSLAND.
3rd April, 1908.
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