Directory_and_Chronicle_1887 — Page 422

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SHANGHAI.

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 have a frontage of about three-quarters of a mile. The Chinese have an Arsenal, Dock, 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 that of the Eastern Extension Company in 1884, there being now two distinct lines of communication with Europe. An overland line to Tientsin was opened in December, 1881, which has recently been extended to Peking. There is also a line west to Hankow and south as far as Lungchow, on the Kwangsi border. A railway con- structed by a foreign company was opened to Woosung in June, 1876, but after running for sixteen months 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. A scheme for Tramways in the settlements was sanctioned some time ago, but has not yet been commenced. There are three other locally owned lines of steamers running on the coast and the river Yangtsze. Several manufactories under both native and foreign auspices have sprung up of late years, and would considerably increase were it not that the native authorities are offering the most determined opposition to any manufactures under the control of foreigners.

The "Astor House" in Hongkew, the "Central" in the British, and the "Hotel des Colonies" in the French Concession, besides many second class, give hotel accom- modation unexcelled by any port in the East. There are four daily newspapers, the North China Daily News, and der Ostasiatische Lloyd (German), morning, and the Shanghai Courier, and Shanghai Mercury, evening, also four weeklies, the North China Herald, Celestial Empire, Cathay Post, and Temperance Union. There are two native daily papers, the Shun-pao and the Hu-pao. These are sold at the prices of ten and eight cash, equal to a farthing and a half, and have a very large circulation. In one matter, that of Postal accommodation, Shanghai is perhaps over-supplied, there being British, French, American, Japanese, German, Local, and Customs Post-offices. A proposition is now being made by the Chinese Government through the Foreign Customs to take over the Foreign Agencies and Local Post Office, as a preliminary to the establishment of a National Postal Department, but the com- munity are almost unanimously opposed to giving up the present facilities until they have experience of the working of a Chinese office, and can feel more confidence in the good faith of the Chinese Government. Shanghai was made a port of Registry for British ships in 1874. 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. Jinrickshas to the number of 2,100, 1,750 passenger wheelbarrows, and 200 horse vehicles ply for hire in the Settlements.

The currency of Shanghai is the tael weight of silver, cast into "shoes" of fifty taels, more or less. The foreign banks issue notes of the value of one dollar and upwards for both taels and dollars. Smaller transactions are conducted in clean Mexican dollars and copper cash. There are seven foreign and numerous 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 steadily increased each year until 1881, when it reached Hk. TIs. 141,921,357 but afterwards shewed a great decline, the total for 1884 having been twenty per cent. less than that of 1881. The next year, however, saw a rapid recovery; the total trade in foreign bottoms, import and export, for the year, 1885, as given by the Customs Statistical Department, being Haikwan Tls. 128,003,083, equal to $194,564,686 or nearly thirty-four millions sterling, an increase of thirteen per cent. on the previous year, which was Hk. Tls. 113,215,520, equal to $172,465,000 or thirty-one and a half millions sterling. This was in spite of the rapid and heavy fall in silver, which