Directory_and_Chronicle_1903 — Page 605

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CHINA

Sheetings fell from 605,199 to 397,443 pieces, and this fall is likely to continue in the future, as they cannot compete in price with American goods of the same make. Indian Sheetings fell from 43.223 to 2,620 pieces, and Japanese from 26,774 to 13.006 pieces. Chintzes, etc., were imported in smaller quantities, owing to large stocks held over, and the demand for Turkey Reds was exceedingly depressed, because of their principal customers in Tientsin and Newchwang refraining from purchasing till affairs are more settled. Cotton Lastings improved, and this is a growing trade, as the Chinese prefer them to the more expensive Woollen goods of similar appearance. The same remark applies to Cotton Flannel, which comes chiefly from America and Japan. Owing to the fall in exchange and to the dearness of Cotton in America and Europe, there was a marked demand during the year for cheaper qualities of Cotton Goods, which was rather a reversal of the tendency of late years. English Cotton Yarn rose from 30,916 to 52.556 piculs : Indian, from 985,989 to 1,716,983 pieuls; Japanese, from 471,531 to 498,116 pieuls; and Hongkong sent 5,208 piculs, from which it will be seen that the local mills have had no influence on the importations.

"The estimated value of the Woollen Goods imported was Hk. Tls. 4,727,371, which was the highest since 1897. This result is rather unexpected, as Cotton imitations are largely taking the place of Woollens; and this is especially the case with Italia' s, which nevertheless rose from 46,642 to 82,489 pieces. Spanish Stripes, too, rose from 21,814 to 46,158 pieces. Blankets, on the other hand, fell from 40,574 to 28,175 pairs.

“The estimated value of the Metals imported was Hk. Tls. 10,428,662, which was an improvement of rather more than a million over the figures of the previous year; but there were no special features in the trade.

Among Sundries, 254,855 piculs of Raw Cotton were imported, owing to a short crop in China and high price of the Native article. Cigars and Cigarettes more than doubled. and the Cigarette is gradually taking the place of the water-pipe. The importation of Coal has risen to 1,152,959 tons, which is a striking example of the way China neglects her own resources. American Flour continues to make rapid headway. It may not be out of place to note that the increase in American imports is partly due to the demand created by the example of returned emigrants. At Swatow, whence there is a large emigration, the import of American Flour has risen from 5,834 piculs in 1892 to 111.853 piculs in 1901. The importation of Morphia unfortunately continues to grow and has now reached 138,567 ounces. American Kerosene Oil was 6 millions of gallons in excess of the largest previous importation, in 1894; Russian about kept its place; while Sumatra is rapidly gaining ground and has reached 40,640,049 gallons Oil from Borneo and Jaian appears in the Returns for the first time, the former amounting to 223,790 gallons and the latter to 8,920 gallons. Soap continues to grow in favour. All kinds of Sugar showed improvement; and the steady increase of the importation of Indigo is noteworthy.

"Exports.-The value of Exports was estimated at Hk. Tls. 169,656,757, an improve- ment of Hik. Tls. 10,660,0 5 on the 1990 total and better than in any previous year except 1899. The progress of the Export trade during the coming years will be watched with keen attention, as upon it depends the country's solvency. The indemnities agreed upon under the Peace Protocol demand additional payments amounting to Hk. Tls. 18,000,000 each year, which can be met by an increase of 10 per cent. on the Export figures for the year under review. The record of 1899, when Exports were valued at Hk. Tis. 195,784,832, shows that this increase is quite possible, and the progress of railway construction now going on may be expected to bring it about. On the other hand, there are complaints that Chinese goods deteriorate with increased demand and the competition of Foreign buyers, and heavy internal taxation in the shape of lekin is a serious hindrance to expansion. The Tariff Export Duties are in most cases very light, and Tea is the only staple on which the Duty is unreasonable. Tobacco of excellent quality is produced in China, and at one time it looked as though this was a promising trade, 371,137 piculs having been exported in 1898; but fraudulent packing has spoiled these prospects and the export has fallen off, although the export of 158.383 piculs was an improvement on the figures for the previous year. The export of Bristles does not advance as it should, owing to the same cause; the supply is abundant and the quality good. The export of Sesamum Seed has risen to 297,365 piculs; but this trade is dependent on the crop in India. The export of Feathers was the smallest since 1895, and the Chinese are doing their best to kill this trade by mixing and by loading with dirt. There was a large demand for Hides, but the supply was only about 600 piculs more than in the year before; this is said to have been due to a prosperous season in Honan, whence the best Hides come, as the people do not kill their cattle under such circum- stances, since in this country they are bred only for agriculture. Nutgalls fell from 47,309

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