Lody is
Tinni from bid bannities my peglany propounded
srdo with the exception of "Phebest solliority in economical regarding the expedit upon tea is me which appel authority as a fact, The deity upon colles was ful- ude an increase of revenue,
THE FRIEND OF CHINA AND HONGKONG GAZETTE.
|
a
qualities of Bordeaux wines, in more or less limited to the supply and the Chinese Government, by the an artificial limit. Under these cherten- by peculiarities of soil and climate. As the sampisition of an export duty, might at one fine ply of the former class can be indefinitely increas auperade
of a reduction of our import duties, the remission should be made, not on test, but on augar, coffee,
Even upon the extravagant position ture of tex could be indefinitel extend
its inarke price in China would ible period evened the increase in its their value cannot permanently rise above the stances the increased demand in England would Productive cost. Lea a not an annual crop. Some cost of production; while as the supply of the latente a premanent rise in the price of ten in Chinn ter may be limited by soil and climate, or by the and the duty which had been paid into the British are Would elapse beloro there could be an addi- al supply proportionate to the aditional demand. fiscal regulations of the countries in which they treasury would pass into the bands of the Chiness During those years, tea would sell in Chian at are exclusively produced, their value, under the ingrower or of the Chinese Government. Hemse monopoly price! and the effect of the remission of fluence of increased demand, may exceed their cost, the duty, and the diminished demand in t by these aminot think the duty would be to sarrifice a large amount of in an unassignable degree. Were the whole of the will bring down the monopoly prion of tea in Chi- revenue for the benefit of the Chinese grower. No lands of Britain converted into parks and preserves, na: the treasury will be replenished without any
material enhancement of price to the consumer. benefit could result to British consumers. On the and were an increased demand for foreign com
tenance of public credit will edinit contrary, they would have to make good the defi- equal to the entire consumption of the population If the maintenance siency of the revenue by the payment of other taxes, to be created, the price of corn would not parina, rendered necessary by the abatement in the daty on neatly rise above the cost of its production, inglid
und such other articles na may admir of an indefi- tes. The commercial wealth of the country would ing earciage and profit. Neither would an entire be diminished, not increased. Commerce chriches erasation of this large demand have any permanent
view the duty upon tea is the best which can be a country by enabling it to obtain in exchange for effect in depressing the value of foreign corn below increase of supply. In a financial print of the produce of its labour and capitalagrester quan. the natural level. In the one case there would be
linult at which the evasion of dion si traded those who contendity of valuable commodities than it all otherwiso treat extension, in the other a great contractionposed; and it should be maintained at a point
approaching to the limit at of tillage in foreign countrica; and during the ope
the tax would cover the risk of the smuggler. But by redgation in the duty upon a whirld acquire. The larger The huntity of foreign com-
the merchants and manufacturers contend, that the dy aiming reals, are bound to
modities exchanged for a given quantity of domestic razion of these disturbing causes, the price of corn
question is not to be decided upon financial grands- prag proumstances through commodities, the greater the advantage conferved would be above or below the level to which on their
sation it would necessarily conform. But widely. They hinihin, that a reduction of the ference would be capred,
by foreign trade. Were we to remit the duty on notion of the duty on coffee was follow tea, and thereby increase its price in China, wo different would be the result of any considerable ex-
ending reduction of price, because should be obliged to give a greater quantity of the lension or contraction of demand with respect to day on ten is necessary in order to enable them to with the remission of duty there was produce of Brdish labour for the same quantity those commodities, the supply of which is limited increased remittances from Chiun, and thus to increase their transactions with that extensive A greatly edution to the cost of production, the produce of Chinese labour We should, in th either by natural or by fiscal causes.
empire. But they would not urge ibla argument The tar of production were so rari, principles so charly demonstrated in Mr MP. Es increased demand might raise their price a hundred.
had they made themselves acquainted with the will extended that the influence of says où Controverfed Questions in Political Econo. fold without occasioning any considerable increase was excluded oil that the value of cof
my, deprive ourselves of no inconsiderable portion in their quantity, while a diminution of demand solence of international exchange. If they can sup in the markets of the world fell to the level of of the benefit which in our intercourse with China might reduce their price to the level of their cost, ply the Chinese with manufactured goods at a less prelive cost. Had these causes net been in
we now derive from the increased productiveness without diminishing the quantity produced. It will price than that at which the Chinese can supply gerated there been no diminution of proof bow from resim reges then use confrun of these themselves, it is a contradiction in termes y that a remunerating return epnuot be realized in divisions of employment. In our ignorance of that principles, that import duties imposed upon commo
a quantity of the goods, the cost of which, iucled. in which the advantage of free trade consists, we dulce, the supply of which can be indefinitely in
ing manufacturer's proft and earrings, was equi- should lose the substanco in grasping at the shadow,creased, must be paid by the home consumer while
valent to 1000 ounces of alver, should sell in the The principle of protection is happily exploded duties upon commoditities which cannot be increna-
Chinese market for 1200 nonces it would he b No individual, whose opinion is worthy of the lensted in the ratio of increased demand, must be paid.
surd to affirm that there was difficulty in olitain, consideration, would now conteng that we ought to either wholly or in part by the foreign consumer.
ing a retorn. Aesuming that these 1,200 ounces. prohibit foreign commodities in order to fuce their Let us suppose that the duly npon sugar, both production at home. The only import duties which foreign and colonial, is wholly remitted. The great would not purchase Chinese conimodities capable of being sold at profit other nirkets, the 1,00 can now be tolerßted are those which may be im increase of demand which this would opcasion
Ounces would themselves constitute a remullerglive posed for revenue alone. The only question which would rapidly call forth increasing supplies from all rainins for solution is what species of luport- the sugar growing countries of the world, until the retur. Let our monocturers appply the Chinese
with wrought goods at lower prices thing thosext. dates will secure the largest share of the increased value of sugar fell to its most par, and until the productiveness of labour, which results from interna whole of that portion of its selling price which con- which the Chuisse can sup
tonal divisions of employment, The principle to
sisted of the tax was saved to the consumer. Re-ment will bon fereived, be adopted for the attainment of this object is, to impose the duty, and the diminished demand will raise as large a portion of the revente as my he gradually contract the supply, unil the quantity practicalde from duties imposed upon those chisses produced yields to the producer the ordinary rate of in China adril o of foreign commodities which are produced under profit, and until the whole of the tax falls on the 'some species of monopoly, and the value of which consumer. in the markets of the world is consequently deter mined not by the cost of production but by the ex- tent of demand. As this principle appears to have been hitherto unnoticed by writers on financial po- licy, a brief explanation of it may be necessary.
to those which
dacters com, og had there been any species of mo. repoly, natural or artificial, limiting the supply- The great fall in the price of collee subsequent to the emission of the daly could not have occurred Now, before it cig be buferred that a reduction of the day on ten would be followed by results similar which attended the reduction of the duty Cu coffee, it must be shown that a comission of the duty on tea would be accompanied by a diminution in coat of producing it, and that the existence of un Jimited sources of supply would keep its markel- price at the level of his cost. But this cannot be shown The field for the production of coffee belts the world abat for the production of tea is limited Rot only to a single country, but to a single district of that country. An increased demand for tea in Enghnd work, as Mr Benior has justly observed, raise the rent of land and the wages of Labour in the fra growing district of Chinn. Hence, the increase of demand would be accompanied not by a dining tion, but by an increase of productive cost. The price of tea would raise in China as the mitigation of the duty reduced it in England. The culture of the tea plant would be rendered more profitable so China but how much of the soil of Ching is adapt- ed to this culture, and how much of the soul so adapted could be withdrawn in that densely peopled Country from the production of the first necessariostics, such as Tokay, Constantia, and the superior
|
The field of production for some commodities, such as corn, is almost coextensive with the world; while the field of production for other commodi.
Let us now suppose that the duty on tea is wholly remitted. In this case, as in the former, there would be a greatly increased demand, but it sloga not follow that in this, as in the former caso there would be a proportionately increased apply. While sugar enn be produced throughout all the Tropical countries of the world, ten is the product not only of a single country, but of a single district of that country.
There is already a natural limit
HUSE TURIictions:
with a
cli
emscives, nor pay
not la commodities, in
netion of the precious- money and the fall of prices.
creased exportiffion of Curs
tử, and biting the con--
on trade of Darice So ung cuc bine that Chins, feu, of course, in-
dan price to the Briti L
that Botünd would obtain a greater" consumelj Shure thun, Chita of the increased productiveness of hour caused by the international divisions of employment. Iradery may tree, hint thinkers will oppose any considerable reduction of the duty on ton AN ECONST- Specialor, lec. 5.
EXPORT OF TEA AND RAW SILK FROM CHINA TO GREAT BRITAIN FROM 1st JULY 1846, TO 2011 FEBRUARY 1847 ►
Ships
Toal from 1st July last to di
29th January · ·
Fe 10/Banatait.
15 Add
13 Ellerslie.
175g
Jan. 17 Bebaner((Sh.).
Fab 12 George Pafe
Destination
Congou
Souchong
Cupien
Pelge
Or. Pekse
Sunte
Hyson Skin!
Yang Hyson
Tuankay
Hysan
Imperial Gupanteller
Total Bluch
Total
Green
Рожк
Baad Fill Bales
Landon,
Liverpool.
02.067,300 851,015) 98,021 €37.496 25,498) 11.270 571.600 16,500) 15,700
480
1.234-9
206206)
770,60 84,183 1,270,013
331986
418.392
1.09.193 31,111242
3,915,079 35,027,217
$4,500
19,798
48,910
183
7900
35,700
4,800)
$4,200
60001
207 700
604,050 667 201
121,300 812.350
49:2001
706,100
413,814
5,831
41201
419475
4.3.795
107.4/1
22 393)
2,721;
18361
0:10
196702
50.603
270.550
London
440.5901
53.1001 14.00%)
37.800
8.9:01
17,980
21100
15.300
538300
94.700
633000
Liverpool. London
177.000 282,900 10,8001 10,200)
1,93%
17:23
17.90
16,600
15.900
4,300
44 400
2.000
80,768,#51|
D67.9111 318.0911 534, 811 1816,641|
33,183 1.3492371 21,496
702,908
473 067
405-276
481,200
12-193031299 011
129.4001
310.600
4568 60138 068,1421
14.725
Date
Ships
*PT-dal in 02 Vessels to 99th January Feb. Backlyn...
3/Mary Ellen.
Alpas
13/Lucas
15/Woodade
EXPORT OF TEA TO THE UNITED STATES FROM 1ST JULY 1846, TO 2011 FEBRUARY 1847.
Destination
Young
Hy wa
New York
4,826 031
345,0 4
#
266.12
374,119
1293:
2.411
189,904
Flyson Skin Tankay
72 1.787 045,024 J2.973) 9.8.7
35.9121
Imperiul Cunporoder
Souchong & Congou
Torak
Ponchong
Perco Or Pecco
153,916
10.23
12,99%
20,155
30,113) 465291 186034 302,074
18.3721 21,015 31.967 10.199 11.598
50,080
151.430
49,956
78,760
42018
Oclong
450 332
58,624
Total Black
Tolet PORNOS
72230045 4117091 695.508
2,850,565 10106,611
18,678
209 250
149.535)
1.20:
6 Ho
11,638
4,879
16116
201386
180302
18 078
4872
618,127 $710,110
26.928 101,018
179,281
1221104
9.517
26,8011 6,165,99!
30.6%
400 20
56,408 1034,571
20, 116) 97,605)
7124
[8.914] 924461
7,300 61,500; 126341
39,195 310,975)
91 17 958! 677,08 2,355,482 370,697 750,398
35,604
1898
152:278:
301549
105,302
106,871
823 515,779
6076677
234.5981
012,415
0.480.737 3.691,6 13,082,360
Cice
Nanzeess, HaLow
Brport of mandries from China to at Bricks from 1st January to 20th Frommery 1-47, por Sir Pabert Sale, Kestres, Lancaster, Viserunt Sandon, Sing, ledim, Eller, and Hindustan. Lecquend ware: 25 packages
Races & Bamboo ware
FR Pese Gooda
Režie 314
$3
33
9
37
75
}
23
"
319
Grass Cloth
Rhubarb
Vermilion
Fans and Screens Cranks.
217
3 boxes
250 canisters
Gunpowder
2
ጉ፣
30%
2
85 sets
Hyson Skin Twankay
. 250.
"
Hysao
371
Flaport to Holland from Canton since 1st January 1847, to 20th February, per Machtiula Cornelia, and Clara Änau Maria to Amsterdam and Gragston flo- gendorpp to Rotterdam.
Congod
Jbe. 507,403
Cossija
Rhubarb
Buda,
21
船
Buchong.
168,708
*
Pape
20
Flowery Pekoe.
1
210,900
Suy
4
Dulong
13
11,300
}}
Bcented Caper
+
0,300 2,100
Pouchung
4,100
*
$73,800 be
lbs. 13,700
13,706
35,000
29,460
1.000
700 91,10vba
24 Cater
or the Chuted 1547 10 2014 FOR, Nat. Fifery Ellen,
Orenge Pekoe
Total black Hyeon Skin Twankey
Young Hyson Cuporter Imperial
Toal green
Tou) pwands 1,661 900
Epona to Brenica from Capion Ence 1w2 January 1&17 to 20th February, per Argo and Pauline,
Cara Bights (and 3ti pkgs
ted the former copasted of—
Its half cherta *194 2) Enty bozes
100 half chests
400.18s, cats, botes
Glassware Crockers Copper lesf Mals
Umbrellas
Star Anised Bugar: Ink
2
15
}
Chingivate.
Grassluth
Sweetmeats
200 cheats
350 half chests
3 ten caly boxes
375 square boxes
300 hous pote
12
50
Cassin
47.
Cmkera
25
Mate
1:003
Lacquered ware9
Sponge
S3 Piece Goody 2
Export to Bombay per ohn Bag- shaw, Pearl, and Anna Elize,
Segur
Tea
Glassbeada
Copperware.
Raw Silk
Reuse Silk
S Piece Goods
Suger Candy
Silk piace good Mate
Laqusred wara
phgy
Bak and Cotton mixed
Sundries
Vermillion
TRICKY Trunks
Chinaware
Paper
113 half chests
86 tive enry boxes
1-3 half cheste
Export to Montreal, per Cleopatra, clared 4th January 1917,
Tea, povej 2,822 pkgs, pla 1133.38 Preserves.
tube 130
pkgo
35
Lacqoured ware
Preserves
32
January to Cowes for TINGS Gear, and A. ne Cargo of the latter not
Sundries
Lacquered ware
20
Bamboo or Rattan WETH
Bambou & Rattan were
11
Chineware
Chinawore Paper
134
08:
Liverpool and per Stag from London. Woollens 155 pkgs and 28,322 yds
Presorvos
146
Wine
58 cosas
Lacquered were
Handkerchies
3.000
Fans Copper les
Cotton Velvet
pieces
20
Grey Shirtings
33.080
MAIS
240
White do
5,000
boxes 700
Twills
2,000
Looking Glasses
pkgs
35
Cotton Yarn
•picule 1,038
Truiks
Chintz
pieces
900
Anniveed
Marble
Smalle Iron
picule
542.12
او
Grasscloth
Copperware,
7.50
Lübe
picata 628,57
422.82 pkge 92 32
Tobacco
Export from Canion to Sydney, per per Pandora and Ann Bates, Bolt Sugar ales 187 for
Silk Piece Goode
Preservoa
Sugar Candy
Paper
Woodware
Gines were
picule 822.75
Pkga 39
1,492.91
25 121
in No. 1,200
1
yards 20
2,890
Long Ella es desen
Imported to Canton since 1st Januo- ry 1847, from Bombay and Tatacorin, per Indian, George Fyfe, and Anna Eliza
Combales. 7,795
Gum
Cotton Tarn
Cornelian Beade .
sepkgs
51
picets
1.80
1.80
1J
11.40
bags 472
M100 A
Rabbit Skin
Buttons
Books
54.112
40
Camlets
3
48
4
93
34
119)
Fish Mawa
Bicho de MaRAL
61
Mats
$i
16
Glasabeads
9
40
Looking Glasses
47
Crackers
Images
Grasssioth
1817
skopa per Nymph, 1st
Pieul 6985
Imported to Canton par furrington
and Dhur from Shangbai.
Cotted
Copper cash
Wodlod Shirtingar
bales
18
pkge 1,100
plouls
618.18
kys
3.
Imported to Canton per a from
Hongkonga
ghon
queurs
bales" 11
| Cotton Yarn Arabo piauis 240
Imported to Canton per Pandora- from Sydney,
Aden from Sandalwood
picks 158,81
EDMUND BOLLER Secretary,
Published by Jous Care, At The Friend of China and
Gören STREET, VICTORIA, HONGKONG,
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