584
CHINA
to the list. Handkerchiefs, for instance which do not appear in the list of former years, now figure with a total of 38,369 dozens, while woollen blankets increased from the insignificant total of 280 pieces in 1922 to 29,496 pieces in the year under review. Other notable increases are Chinese cement, from 4,355 piculs in 1922 to 235,855 piculs. in 1923, and matches, from 1,914,785 gross in 1921 to 2,271,408 and 3,461,269 gross in 1922 and 1923 respectively. The aggregate value of these articles of foreign type produced by Chinese factories and exported abroad was Hk. Tls. 3,724,813 in 1921, Hk. Tls. 5,091,302 in 1922, and Hk. Tls. 12,145,616 in 1923.
China is still importing more silver than she exports, the balance in favour of silver imports having risen from 39.6 millions in 1922 to 67.2 million Haikwan taels in the year under review. China has for several years past imported silver in steadily growing quantities, and the statistics show that consumption is increasing rapidly, It should also be noted that a large part of the metal received remains in the country, imports during the last decade exceeding exports by as much as 227 million Haikwan taels, and this notwithstanding the fact that the merchandise balance of trade has been unfavourable to China throughout this period. The importation figures of silver in bars and sycee as reported by the Shanghai Customs show 81,849,004 ounces, valued at Hk. Tls. 67,612,891, to have been imported in 1923, against an export of silver in bars and sycee of 3,729,675 ounces, valued at Hk. Tls. 3,244,561. This large absorption of silver by China is probably explained by the continued unsettled condition of the interior, which has resulted in loss of faith in bank-notes and has no doubt caused the investment of savings in sycee and coins, which are being hoarded until better times come round. Greater mintage of dollars by Chinese mints and a strong demand for Chinese dollars-notaby the Yuan Shih-k'ai dollar-from Siberia, where the need of a reliable medium of exchange is being increasingly felt, are also causes which have contributed to China's requirements of the white metal and render it difficult to judge when the point of satiety will be reached. It is estimated that, some 45 million taels worth of silver after conversion into Chinese dollars found its way into Mauchiuria. The accumulation and increase to this extent of the amount of silver dollars in the country, and their intrinsic value, will soon present an interesting problem.
Value in Silver and Sterling of the Foreign Trade of China, 1892 to 1923 :-
Year.
Average Exchange.
Imports.
Exports.
S. d.
Hk. Tls.
1892
4
41
140,298,086
1893
3 114
149,928,703
£ 30,544,061 29,517,212
Hk. Tls.
£
102,583,525
22,333,288
116,632,311
22,961,986.
1894
...
1895
3
1896
1897
1898
1899*... 1900+...
...
1901..
1902...
1903
1904
1905 ...
3
...
1906
1907
!
1908.
1909
...
1910 ... 1911..
1912.
19138... 1914||... 1915
· 1916
...
• 1917 ...
♡♡♡ 22MM N N N N ∞ ∞ ∞ NNNN ∞ ∞ ON 234
234
3 28 163,897,525 26,206,530
128,104,522
20,483,379
31
172,853,145
28,268,688
143,293,211
23,434,411
209,106,866
34,851,143
131,081,421
21,846,903
113
204,554,227
30,470,055
163,501,358 24,354,889.
103
3
0
217,761,975 31,416,701 280,907,296 42,282,402 223,791,888
159,037,149
22,944,422
2 11
280,472,693
34,734,365 41,559,625 169,656,757
195,784,832 158,996,752 24,677,621
29,469,696-
25,139,243
7
335,601,739
43,628,226
214,181,584
27,843,605
2
7
343,300,115
45,296,542
214,352,467
28,282,616
2
102
*348,603,090
49,966,442
239,486,683 34,326,424
0 458,340,485
3
33
3
8
68,942,047 414,184,061 68,167,793 422,838,531 68,711,261 396,261,991 52,834,931 417,586,237 54,264,460 462,437,260 62,260,433 380,833,328
227,888,197 236,456,739 38,916,838 264,380,697 42,961,863 276,660,403 36,888,053 338,992,814
34,278,183
44,051,410 51,273,653
473,517,685 63,628,938 377,338,166 50,700,286
.
...
570,064,696 86,103,508 546,425,219 74,564,285 454,475,719 31/0 516,406,995 3130 549,518,774
* Influence of railways felt.
+ Boxer outbreak..
↑ Revolution in October.
European war from August, 1914, to November, 1918. § Rebellion in summer.
3
03
471,809,192 72,000,048
3
370,520,403 56,544,517 403,305,546 60,915,191
2
345,280,874
47,116,943
7
58,939,820
418,861,164
54,321,457
86,767,390
481,797,366
78,820,556
118,633,090
462,931,630
99,940,188
No comments yet.
Private notes are available after approval.