746
SHANGHAI
1919, had reached the limit of their absorptive power and exports fall away, as prices dropped abroad, too rapidly for the decline in exchange to keep pace or assist materially. As a result of the abnormally high exchange at the end of 1919 the prevail- ing optimism was responsible for frenzied buying abroad. Speculative buying, much of it with exchange unsettled, had to be financed in a heavily falling silver market. Losses have since been exceedingly severe, especially in piece-goods, for which there was a progressively weakening demand from the interior owing to civil war and famine. The Tael declined in exchange value from 9s. 3d. in February to 3s. 11d. in December.
Native Produce to the value of Hk. Tls. 218,151,122 was imported from Chinese Ports, almost all of which was re-exported, namely, to Chinese Ports, Tls. 58,754,437 and to Foreign Countries and Hongkong, Tls. 104,778,541, the net native imports amounting to Hk. Tls. 54,618,144.
The total values of Exports and Re-Exports of Native Produce to Foreign Countries, Hongkong and Chinese ports in 1920 were:-
Cotton Goods & Tls.
Yarn ..
Silk
...
Tea
...
93,518,723 Cotton, Raw 54,565,693 Ground-nut
T'bco., Cigs., &c.... 42,388,952 | Paper
Flour
...
...
29,616,217 Bristles...
Seeds & Seed Cake 12,008,659 Beans
Tls. 9,148,089 | Wool
...
...
...
8,634,291 Medicines 7,239,821 Beancake
Tls. 3,161,645
...
...
3,062,253 2,212,539
2,035,305
5,247,826 | Straw Braid 5,005,144 | Fans
...
...
4,838,820 | Books, Printed
...
...
...
...
...
Rice
...
...
Oil
Skins
...
11,564,170 Grasscloth 11,417,170 Fibres 10,842,333 Metals
...
...
4,633,883 Tallow
...
...
...
...
4,595,085 Nutgalls
...
...
...
Egg Albn. & Yolk.. 9,858,546 | Hides
...
•
...
4,481,962 | Sundries
1,586,591 1,472,173 1,044,336 841,979
4,501,586 Pottery & E'ware. 653,743
...
...45,989,645
Total Hk. Tls. 396,197,179
The goods for export brought down under Transit Passes amounted to Tls. 15,470,232. This total shows an increase of Tls. 1,035,090 as compared with that of 1919.
The total carrying trade, entrances and clearances, for the year 1920 was divided amongst the different flags as under:-
British Japanese American Chinese...
French
...
...
Steamers Tonnage Sailing Tonnage Total Tonnage
Duties
4,418 8,257,554
...
3,447 6,151,069
...
...
...
...
966 2,581,895 2,892 3,684,907
466 68,700 4,884 8,326,254 Tls. 451,479
64 3,942 275
5,611 5,872 454,699
3,511 6,155,011 1,241 2,587,506
""
376,981
271,193
""
8,764 4,139,606
"
52,833
...
125
...
565,512
125
565,512
56,020
Danish
...
64
120,524
64
120,524
16,410
Dutch
92
...
...
197,310
92
197,310
""
20,460
Norwegian
116
...
...
112,318
116
112,318
7,268
Italian
...
...
46
171,258
46
171,258
""
18,119
Russian
...
62
72,513
62
72,513
""
3,910
Others
...
19 50,300
19
50,300
8,624
Totals
...
...
12,247 21,965,160 6,677 532,952 18,924 22,498,112 1,283,297
""
The Customs Revenue, Hk. Tls. 18,833,046, for the same year consisted of :—
Import Duties .... ...Hk. Tls. 12,733,699
Export Duties...
Coast Trade Duties
27
3,229,181
993,484
Tonnage Dues ... Transit Dues
•
Hk. Tls. 1,283,297
...
>>
593,385
Total... ...Hk. Tls. 18,833,046
The above tables show that more than half of the whole trade of China in foreign vessels belongs to "the commercial metropolis of China."
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