728551-1843-12-Oct-1843 — Page 2

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THE FRIEND OF CHINA, AND HONG-KONG GAZETTE.

VICTORIA, THURSDAY, OCTOBER 12TH, 1843.

Now that the Supplementary Treaty is signed, and the ports are declared open, it becomes us to glance at the some of the probable results of this great change in our commercial relations with the Chinese Empire.

Although trade with the Chinese has been for bidden, except at Canton and our military Stations of Koo-long-soo and Ting-hae, yet on good autho- rity it appears, that since the cessation of hostilities British Manufactures. Straits and Indian Produce- exclusive of Opium-to the amount of some $1,600,000 has been sold at Chusan, Amoy and other parts of the East Coast.

The main obstacle however to a greatly increa- sed sale of British Manufactures, is the enormous duties levied in England on Chinese products. We have

so often discussed this subject that we not futher allure thereto, other than to say, the magnitude of the evil will each day become so increasingly apparent, that it must lead to a benefi- cial change in this respect.

As a natural consequence of the introduction and use of British goods, will be the necessary diversion of the capital and labour of the Chinese into other and more profitable channels. But a small acqua- intance with this people and Country will suffice to convince one that there are many articles (and some of great value and extensive consumpt in Europe, and America) which under such circums- tances could be more cheaply produced in China than in any other part of the World. This is a subject which would occupy too much of our s

space, were we now to do more than merely hint at it. Its discussion we reserve for another occasion.

What however would most promote the imme- diate development of mutual commercial relations, would be the introduction of Steam Navigation. for Mercantile objects. Never before was there presented so favorable a field, nor one so inevitably lucrative for its operation, as, now exists in this quarter of the World.

It is estimated that irrespective of Canton-a coasting trade on British account of the aggregate value of some $ 20.000.000 nów exists.

The larger portion of the above amount consists of Opium and Treasure, the value and small bulk of which render them especially eligible for the Freight of a Steamer; to say nothing of the saving of interest which accrues, and with adverse mon- soons &c., &c. The application of Steamers for Commercial purposes, would have the support also of the Natives. A large number of passengers would consist of Chinese, who are not slow in ceiving the advantages of Steam communication.

We hope some of our home capitalists or public Companies will turn their attention to this quarter, and if a competent party were sent hither, we are sure he would concur fully in our views, and he could moreover easily explain, why so profitable an enterprise has been hitherto neglected.

per-

So far as the best interests of our country are concerned, we hold as next-in importance to the Commercial Treaty, or rather as its natural corol- lary the establishment of a regular Steam Commu-

nication with the Consular Ports.

In our last we.published an Extract from a Manchester Circular which detailed the cost of American Cotton Cloths and Twist, for which it is now admitted there will be a large and increasing Consumption in China Another Import from the United States, which is growing into importance,is Lead. The Dellhi as before stated had cleared out from New Orleans with 2.300 Bales of Cofton and 6000 pigs of Lead. The Export to China of the latter article from the States we learn from a late Hitherto the Consumption of British Manufac- number of Hunts Merchants Magazine amounted tures in China has been truly insignificant within 1841 to lbs.1,510,136 and it has since much reference to its population and resources. The declared value of British and Irish produce export- ed to China during the year 1841 was

as but £862,570 which is considerably less than the cost of the Raw Cotton now imported from India and not one fifth of the value of the Opium sold to the Chinese during the past year.

Whilst we look for a vast augmentation of our as a consequence of the

new relations, borne in mind, that the Chinese are a manufactur- ing people and that almost every article

increased.

From the same authority we find the estimated value of the whole product of the Amerincan Lead Mines during the same year was $746,350 at an ̈ average price of $2,37) per lb.100,

But a few years will elapse before Copper will take rank as an-American Export, as it is well known that Copper Ores abound in the Territory of Wiscousin and the northern part of Michigan.

Commerce theless must be constantly Indeed, at the present time, American Copper is a

is very cheaply produced by themsel of import American Cotton Goods (Domestics) are much

so that we have to supersede and extinguish an existing branch of trade, before we can look for any very considerable extension of the demand for British Manufactureis.

Modern science as applicable to the cheapening of most kinds of fabrics especialy those of Cotton guarantees our competing successfully with the Chinese, and if as is said, the fair Celestials perfer our White Long Cloths for their under Clothing then we may in this article look for an early increase in the Consumption. Others will follow in due time.

As to any supposed convenience which may accrue to the native industry by our competition inducing the Emperor to augment the duties: wo consider such an apprehension as chimerical.

Irrespective of the faith due to a Public treaty, we think it will be seen the Emperor, or his Cabinet to be the interest of the people, and conso- nant with the natio. policy to disregard any such popalar outcry, should it ever be raise have seen that the late Emp vation of Cotton in some distric would arise from such

ton G

used fo

Now by th

bad the culti fearing earth of the Rice

quoted article in the New York Price Current.

liked by the lower Classes of the Chinese; their du rability, good wear and low cost are the alleged reasons for the preference ev

evinced for this article, Considerable imports are expected this season. We are informed that similar goods to those recen- tly consigned to Messrs. Barings of London-the import of which into England created such a sensa- tion among the Manufacturing interest which Goods were seized, but afterwards restored by the Custom House Officers--and by the last accounts were to be sold by Public Sale for Export or Home Consumption-have for some time past found their way hither. Sales of the article (grey domestica) have been lately made in quantity at

2 per piece.

In Raw Cotton it cannot be denied the Ameri- cans are usm the utmost efforts to compete with India, and they count are long by the introduction of a supenor article to command a preference in This Market Our Trans-Atlantic brethren will not be slow to adapt their cultivation to the quality for the requirements of the Chinese. The Native Cotton of China is vended, we are told, in the great marts of local consumption, at some two

ree tunes the

ordmary Bombay

and

it, we see Mania

rice of th

We bo

the quality

of lood, republican friends will

compete with

them in a Market, they have hitherto called, almost exclusively their own.

com-

It has been brought to our notice, that it would be very desirable for the interests of British merce, could one of our men-of-war pay a visit to Bangkok. Not a vessel with the British flag that has recently visited that Port, but has grie. vously felt his Siam Majesty's contemptuous dis- regard of the Treaty made with us. Indeed so great has become the exactions and impediments to our Commerce, that the British Trade is nearly annihilated, and will soon be extinct, if no official interference take place.

In the case of the Good Success, which sailed from hence last year to Bongkok, it was found that the Sugar dealers were prohibited by the King from supplying the article. All remons- trances against such an interference; from its being in direct contravention of an existing treaty were unheeded. The issue was, that the agents of the Good Success were compelled to purchase the Sugar they required of his Majesty, who gra- ciously condescended to let them have it, at an advance of only fifteen per cent on the price, which the dealers had previously agreed to supply it, and would have done so had not H. M. so unjustifiably interposed his regal authority

CANTON MARKETS.

IMPORTS.

AMERICAN-DOMESTICS AND DRILLS.-$2,25. The stock here, and expected, is large. Sales are reported at our quotations.

BETEL NUT $1,60 a $2,50. Stock considerable.

No sales.

CAMLETS.-Assd $26. Are in some demand,

Considerable Shipments have been made for Chusan, where prices are much the same as here. COTTON-Bengal, 6,6 a 7,8 taels a few sales are mentioned. Bombay, 5,5 a 7 taels, large sales of second quality are reported. The market for fine staple, little of which is offered, shows some symptoms of improvement.

Tinnevelly, 6,5 a 7,5 | No transactions have take Western, 5 a 5,5 place during the week. CANTON REPORT.

Canton, September, 1st-a 30th, 1813.

Deliveries Stock Bales None 2,130

Manila.

Bombay

do.

30,051

74,085

do.

8,209 10,100

do.

5,337 16,685

Bengal Madras

Total 43,597 103,000

Ship William Wilson part included. COTTON YARN.-$ 24 a 8 26. Nothing doing.

Stock large.

*

IRON-bar 1,50 a 1,65. Nominal. LEAD-4,30. No sales mentioned, stock excessive. The quantity sent North is reducing rates there. LONG CLOTHS.-wh. $3,20 a 3,50, Grey $ 2,60 a 2,80. A few sales of Grey's are mentioned, Stock moderate in this quarter, but equal to the demand.

LONG ELLS.-Assd. 87, Scarlet 9. Sales are

reported. Stock moderate.

OPIUM.--Patna $830 a 840, Malwa 8710 a 715, Benares $800 a 810. The demand is checked and prices reduced by trouble in the neighbour- hood of Canton. The Mandarins have recom- menced their squeezing system as of old. PUTCHUCK 89.

9. A few transactions have taken place, but the market is dull. RATTANS-82,60 & 3,20. Sales have been made. RICE $1,10 a 1,25 Dull. The native crops

looking well. SANDALWOOD,—$4 a 12,50. Little doing. Malabar continues to shew rather a tendency to improve. STEEL-English 84. Is dull, the quantity held

by Chinese being large,

TIN $13. A few transactions have taken place. TIN PLATES 89 per Box. A few sales are men- tioned. The stock and demand are equally moderate.

EXPORTS

RHUBARB $35 to 70. Considerable purchases

have been made at these quotations. TEAS. Congo, 12,50 a 30 tuels, One or two pur- chases of old are mentioned. The transactions of the week in new are few and confined to good teas

Souchong 14 a 41. No transactions in old

and few in new.

Pekoe, -20 × 46. Nothing done. Orange Pekoe 22 a 26. The best chops are

all secured.

Chulan Orange Pekoe 22 a 21. No new in

the market.

Hungmacy-Nothing dong,

Arike 12 120 No purch

The quality of the

angyong 120) = 30.

Slates are being