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who hold the principal British shipping insurance and trading agencies, suggest that they are British, but this is not the case. The sole partner, although British Vice- Consul, is a naturalised Frenchman, and the firm has no London house. Other Frenchi houses who act as representatives of British interests are:-
La Compagnie de Commerce et de Navigation d'Extrême-Orient.-Agents for Messrs. Alfred Holt & Co., the British-India S.N. Co., the Indo-China 8.N. Co., and Messrs. Jardine, Matheson & Co., Ltd.
L. Ogliastro et Cie.-Agents for the P. & O., and many British fire and marine
insurance offices.
Denis Frères. An important import house, one of whose partners acts as H.M. Vice-Consul in Haiphong, and also represents the Hong Kong and Shanghai Bank at that port.
Other firms transacting a considerable business in piece goods are:-Berthière Frères, Berli et Cie., and Dumarez Frères.
As regards shipping, the British interests occupied, before the war, a leading position. In 1914, of the total steam shipping of all nationalities entered and cleared at the port of Saigon the British share was 36 per cent. The figures of the ships cleared under the four leading flags were: -
British
French
Japanese
German
219 vessels of 609,498 tons.
145
53
53 49
22
A
483,417 162,030 126,914
"
71
11
Other British interests active in the colony under French representation were the Asiatic Petroleum Co., Ltd., and the Nestlé and Anglo-Swiss Condensed Milk Co., Ltd. The Eastern Extension Telegraph Co., Ltd., maintain a considerable British staff in the operation of the important transmitting station at Cap St. Jacques.
German Activity. The direct import of German manufactures before the war was very small, and in 1914 totalled 59,517., consisting in the main of rice-milling machinery, copper manufactures, toys, porcelain, belting, lampware, needles, &c. The direct importations from Austria during the same year amounted to only 4,140!., of which bentwood furniture accounted for 3,5511.
The firm of Speidel & Co., registered in Paris for purposes of business, possessed branches in Saigon, Pnom Penh and also in Tonking, and was one of the most active import houses in the colony. This firm, which acts as the represen- tative of the Central Agency, Ltd, was the largest importer of piece goods into Saigon, and was the first European house to exploit the Cambodian market.
A large and lucrative business was also transacted in engineering and hardware. They have now been closed and the staff interned, but the extent of their operations will be seen from the fact that they held a stock of 2,300 packages of piece goods (French and British) which the French Government are not liquidating at present for fear of depressing the market. Messrs. Fried, Engler & Co., of Fraukfort, also conducted a considerable import trade. In addition two important steam rice mills were operated by German firms.
Upon the outbreak of war, however, all German subjects were interned, their businesses were placed in liquidation, and it is extremely unlikely that they will be permitted to resume their activities for a considerable period after the war. Anti- German feeling runs very high in the colony, especially as the native risings in the north of Tongking and the Laos States, which occurred shortly after the outbreak of war, were attributed to German propaganda.
The Swiss firm of Diethelm & Co., Ltd., of Zürich, Singapore and Bangkok conducts a considerable trade in rice and other produce.
Customs Duties.-The tariff in force in Indo-China is the general French tariff with certain slight modifications to meet the peculiar needs of the colony. In the principal items of manufactured goods the duties are practically the same as those operating in France, which have been estimated by the Board of Trade in 1904 to average 34 per cent. ad valorem.
Imports from the United Kingdom were, before the war, charged on the basis of the minimum tariff applicable to the goods of nations enjoying "the most favoured nation clause," provided that the goods were shipped direct without transhipment. This had the effect of excluding Singapore and Hong Kong trade from this privilege,
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and resulted in the imports from the United Kingdom being entirely carried by the steamers of the Messageries Maritimes.
Owing to the shortage of shipping since the war, the French Government has decreed that for the period of hostilities goods exported from the United Kingdom to Indo-China in British, French or Japanese vessels, whether transhipped at Singapore or Hong Kong or not, will be accorded the privilege of minimum tariff treatment provided that they are accompanied by the necessary authorisation and certificate of origin from the French Consul-General in London. am informed that stocks in Singapore may also obtain the privilege of minimum tariff treatment provided that a certificate of origin is obtained from the Chamber of Commerce and vised by the French Cousul. This has had the effect of stimulating the sales of piece goods to Saigon by British Singapore houses, some of which have sent representatives to the market and have made sales from stock. If this privilege can only be permanently secured after the war, it would conduce to some expansion of British trade with the colony.
Shipping. So far, the only direct service between Europe and Saigon is that of the Messageries Maritimes. Vessels of this company sail fortnightly from Marseilles, carrying mails, passengers and cargo without transhipment. The bulk of the United Kingdom trade with the colony has been shipped in the weekly Messageries steamers from London to Marseilles, and there transhipped into the Eastern steamers.
Conditions of Sale in Saigon.-The local piece goods market is at Cholon, which is situated three miles from Saigon, but is connected by tramway. The business is entirely in the hands of Chinese dealers, but, unlike Singapore, only a few of the larger dealers deal direct with the European firms, and these dealers supply the smaller merchants. Owing to competition among the European firms, these larger dealers received credits from four to six months and upwards, but since the outbreak of war all business has been conducted on a cash basis without any failures resulting, and the market is in quite a healthy financial position.
The three principal dealers are :—
Chun Heng Chan, 39-41, Rue Lareynière;
Meng Keng, 33, Quai de Mytho-Cholon; and Kwong Soon.
The first two houses have no branches at Singapore, but the last named has a branch at that port under the style of Eng Guan.
These merchants are all reported upon favourably by the local British banks, and are accustomed to foreign trade. They prefer, wherever possible, to purchase their goods from stock in Saigon currency, duty and all charges paid.
Types of Textiles in demand. The Annamites in Indo-China are usually dressed in plain bleached cloths, or else grey cloths dyed locally. Prints and coloured goods are taken only by the Chinese, and the trade in these goods is consequently of relatively minor importance. The Cambodians wear largely the same kind of clothing as the Annamites, but in the north of the country, along the Siamese border, sarongs, papoons and loongees are worn to some extent. Speaking broadly. with certain modifications in dimensions, many of the staple cloths on the Singapore market are suitable for Saigon; and it would therefore appear after the war that, if the market is to be developed by British houses, Straits firms are clearly indicated as being in an exceptionally favourable position. The prospects, however, depend entirely on future French fiscal policy.
Currency, &c. The currency of French Indo-China is on a silver basis, the unit being the piastre de commerce or dollar, divided into 100 centimes. This coin has a nominal value of two shillings, but its real value varies with the fluctuations of the silver market. The bank demand rate on London for the year 1914 averaged 1s. 10t3d. The French metric system of weights and measures is in force, although the Chinese picul (1334 lbs.) is largely used in the rice trade.
Consular Representation.-H.M. Government is represented by a consul usually drawn from the ranks of the Siam Consular Service, and he is assisted by a vice-consul, a naturalised Frenchman, who is the sole partner in the firm of W. G. Hale & Co.
2. Haiphong.
The town of Haiphong is the shipping port for Hanoi, Hai-duong and Nam-Dinh, the commercial centres of Tongking, and is situated on the delta of the Red Itiver,
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