Directory_and_Chronicle_1933 — Page 480

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TIENTSIN

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government to offset the loss occasioned by the abolition of likin was the first unsettling feature to be noticed.: Pending a settlement movements of cargo to and from the interior were reduced to a minimum. Next came a series of labour troubles, the most significant of which was the strike of the Chinese employees of the Haiho Conservancy Commission, which fortunately lasted but a few weeks. As it was, dredging of the badly silted harbour was suspended throughout the whole month of June owing to the strike. In July a military offensive was commenced by General Shih Yu-san, with Peiping as its objective. His drive northward was successful for a time, and he soon succeeded in occupying Shihkiachwang- one of the most im- portant places on the Ping-Han Railway-while Paoting was seriously threatened. Although this offensive soon failed, it stopped all transportation of cargo for a considerable time on both the Ping Han and Pei-Ning Railways, besides interfering in other ways with movements of commodities. Soon after peace was again restored a severe boycott of Japanese goods was instituted following the riots in Korea. Then came the Japanese military occupation of various points in Manchuria, and finally, early in November, the disturbances that broke out in Tientsin itself. Trade was additionally hampered throughout the latter half of the year by the extra handling charges on cargo between Tangku and Tientsin, due to the re-silting up of the Haiho after the summer freshets, few coasters and none of the heavy draught steamers being able to come up to Tientsin to load and discharge. An expansion has taken place in trade however even in the circumstances outlined above, the total value of the whole trade of the port being 354,2 million Haikwan taels, as against 318.2 millions in the previous year. The total value of foreign goods imported direct and coastwise increased by 1.9 million Haikwan taels as compared with the figures for 1930, and direct exports abroad increased by approximately 10 million taels. In many lines of cotton piere goods, the continued supremacy of the cheaper Japanese article was a marked feature of the market, although the boycott movement was changing the position to some extent towards the close of the year. Consignments of cargo previously contracted for from Japan continued to come in, but the up- country markets were practically closed to the sale of Japanese goods, and, wherever possible, native or non-Japanesc manufactures were taken as substitutes. The geographical position of Japan vis à-vis China is a great advantage to her, however Orders from Japan can be executed in as many weeks as orders from America or Europe would také months, during which latter period there may have been serious changes on the market in the matter of designs and fashions; and as long as inoney is short and Japan can succeed in producing a seemingly fine quality article at a cheap price, so long is she likely to keep her hold on the market. Where decreases were registered in cotton goods they were mostly in high priced manufactures that were replaced by native productions. The market for printed shirtings and sheetings was disturbed by the dumping of Russian prints at a price that no one could compete with. The high cost of gasolene was responsible for the large decrease under that heading-although direct imports were somewhat higher and in part, at least, for the insignificant number of inotor trucks and chassis imported. The export market was almost abnormally active at the beginning of the year and was satisfactory on the whole, although prices offering abroad were low and in many cases not worth accepting. Japan took 72 per cent. of the record export of raw cotton. There was no industrial development during the year. On the contrary, many existing factories and workshops ceased to operate owing to financial and other difficulties.

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