Directory_and_Chronicle_1933 — Page 439

CHINA

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In conclusion Mr. H. G. MacEwan writes:

Seldom has there been more excuse for stressing the difficulties of trading con- ditions than in the year under review, for there is no denying that the world has been passing through a period of ecocomic distress unexampled in history, or that, over and above that fact, the year 1931 has witnessed almost unparalleled calamities in China. Taking each section of trade by itself, the factors conspiring to assist individual trading firms during the year have been much less in evidence than those militating against a successful outcome of operations in the majority of the sub- divisions of China's international commerce. Imports into China have declined however (in terms of their value in gold) only in the same proportion as world trade elsewhere has declined, and the export trade of China has made a small recovery where none is in evidence in countries, and exceptional prosperity has attended home industries through the very difficulties encountered by the import trade.

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It is manifest that China's trading instincts have triumphed once again over seemingly insuperable difficulties in the production and marketing of merchandise for export, while it is also apparent that the liampering of the import trade actually was no bad thing for the country, as it encouraged home industries and saved the so-called balance of trade from appearing in a worse light than it did at the end of the year. As to the future, no healthy-minded people will give credence to the extraor- dinary view, held by certain extremists, that the capacity of modernised industry for superabundant production has or can upset the historically recurrent cycle of prosperity after depression in trade. If the world is now suffering from over- production (of which there is apparent cvidence but little or no proof, there being other factors in the situation), it by no means follows that a permanent limit to its powers of absorbing manufactures and raw materials has been reached. Those who follow the trend of things in this once ultra-conservative country should not be the hardest to convince of this, provided that they have eyes to see the illimitable possibilities existent in the changes in tastes and habits that must be brought about through the development taking place in the matter of motor highways, railways, airways, and industries in the rapidly evolving continent of China alone.

HISTORICAL.

The year 1900 will ever be memorable in the history of China for the "Boxer" rising. Details of this great social and political upheaval may he found in preceding volumes of this Directory. The object of the rising, which was confined to the North, was the extermination of foreign native Christians and people known to be associated with foreigners. The Legation Quarter at Peking was besigned for two months by the Boxer rabble and the Imperial troops, the occupants being reduced to the verge of starvation. Troops were poured into China by all the European Powers, America and Japan, and it was not before 20,000 foreign troops had fought their way to the capital that the siege was raised. Over 250 Europeans were murdered during the rising, and it was estimated that over 10,000 natives perished, most of them being Christians or the kinsmen of Christians.

In November, 1908, occurred the death of the Emperor Kwang Hsu, fol- lowed a day iater by the death of the Empress Dowager Tzu Hsi. This was unexpected, and there was consequently much suspicion for a time regarding the cause of the dual demise. The public were soon satisfied, however, that the deaths were due to perfectly natural causes. Dying childless, the late Em- peror Kwang Hsu, acting in obedience to "the benign mandate" of the Empress Dowager Tzu Hsi, designated as he lay dying a son of Prince Ch'un, his brother, as his successor to the Throne. At the time of his accession the new sovereign was barely three years of age, and Prince Ch'un was appointed to act as Regent during the Sovereign's minority. The events of the past ten years had convinced Tzu Hsi, who had been the virtual ruler since 1895, that the salvation of the country lay in a complete reformation of the Gov- ernment. Accordingly, from being a reactionary of the worst type, she tutional government and took steps to initiate the change. In her valedictory address she directed that the occupant of the Throne should fulfil the pro- mises she had made, and the opening of the new reign was marked by a suc cession of Reform Edicts giving promise of the fulfilment, at last, of the