548
CHINA
1924. In spite of the increased Customs revenue and substantial advance in the value of trade, business from the merchants' point of view was anything but prosperous during the past year, and profits were declared to be small, at times even nou-existent. This. apparent discrepancy was due to very keen competition, which considerably reduced individual profits; to high costs of production as compared with prices obtainable; and,. towards the end of the year, to failure in disposing of the goods imported."
Value in Silver and Sterling of the Foreign Trade of China, 1892 to 1923 :-
Year.
Average Exchange.
Imports.
Exports.
1892
1893 1894 1895
...
...
...
...
...
...
3
WWWA a
s.
d.
Hk. Tls.
£
Hk. Tls.
£
4
41
140,298,086
30,544,061
3
112
149,928,703
29,517,212
102,583,525 22,333,288 116,632,311 22,961,986
3
2
163,897,525
26,206,530
3
172,853,145
28,268,688
1896
1897
1898
1899*.
3
4
...
209,106,866
34,851,143
128,104,522 20,483,379 143,293,211 23,434,411 131,081,421 21,846,903
2 113
204,554,227
30,470,055
163,501,358
24,354,889
2
108
217,761,975
31,416,701
159,037,149
22,944,422
1900t...
1901
1902
1903
...
...
...
1904 1905 1906 .. 1907
...
...
...
1908
...
...
1909
1910
1911...
...
...
...
1912 1913$... 1914...
...
...
...
1915
...
NO NO W WNNNN WWW1 20 19 N WW
3 0
280,907,296
42,282,402
195,784,832
29,469,696
3
1
223,791,888
34,734,365
158,996,752
24,677,621
2 111
280,472,693
41,559,625 169,656,757
25,139,243
7.
7/1
335,601,739
43,628,226
214,181,584
27,843,605
7
343,300,115
45,296,542
214,352,467
28,282,616
2 10%
348,603,090
49,966,442
239,486,683 34,326,424
458,340,485
68,942,047
227,888,197
34,278,183
3
414,184,061
68,167,793
236,456,739
38,916,838
3
422,838,531
68,711,261
264,380,697
42,961,863-
396,261,991
52,834,931
276,660,403
36,888,053
417,586,237 54,264,460
338,392,814
44,051,410
5
462,437,260
62,260,433
380,833,328
51,273,653
473,517,685
63,628,938 377,338,166
50,700,286.
471,809,192
83
7
1916
...
3
86,767,390
72,000,048 370,520,403 56,544,517 570,064,696 86,103,508 403,305,546 60,915,191 546,425,219 74,564,285 345,280,874 47,116,943 454,475,719 58,939,820 418,861,164 54,321,457 516,406,995
481,797,366
78,820,556
1917
...
4
3
549,518,774
118,633,090
462,931,630
99,940,188
1918
...
37% 554,893,082
146,670,958
485,883,031
128,430,019
1919
4
...
1920
6
95
646,997,681 204,882,600 762,250,230 258,847,474
630,809,411 199,756,313
541,631,300
183,928,963
1921
3
1117
906,122,439 179,100,763
601,255,537
118,841,915
1922
3 9
...
945,049,650
177,196,809
654,891,933
122,792,237
1923
3
...
53
752,917,416
130,976,259
923,402,887 160,633,627
It will be observed in this table that an increase in silver values does not always mean an increase in trade when measured in sterling.
RAILWAYS
Although China is traversed in all directions by roads, they are usually mere tracks, or at best footpaths, along which the transport of goods is a tedious and difficult undertaking. A vast internal trade is, however, carried on over the roads, and by means of numerous canals and navigable rivers. The most populous part of China is singularly well adapted for the construction of a network of railways, and a first attempt to introduce them into the country was made in 1876, when a line from Shanghai to Woosung, ten miles in length, was constructed by an English company. This little railway was subsequently purchased by the Chinese Government and closed by them on the 21st October, 1877. Since that time the principle of railways has been fully accepted and only lack of funds retards the completion of many new lines. The railway from Shanghai to Woosung was re-opened in 1898, as forming part of a
* Influence of railways felt. + Boxer outbreak. + Revolution in October.
European war from August, 1914, to November, 1918. § Rebellion in summer.
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