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average for the three years 1887-1889 inclusive, it will be seen, is licensed vessels 2,562, the revenue derived directly therefrom in licences $8,000.25 and in permits $597.75, a total of 8,598 out of a grand total of $19,720.

8. For the average of three years 1887 to 1889 inclusive and the years 1890 and 1891 the propor- tions are therefore as follows:-

'87-'89. '90. '91.

Licensed Junks.

2,562

2,977

3,332

Revenue for Do. Total Junk Revenue.

8,598 9,956 10,821.25

19,720 22,397.75 22,602.50

9. The proportion of revenue derived from unlicensed junks, therefore, it will be seen, by no means increases pro rata as that from licensed junks taking the years 1890 and 1891 as examples the tonnage returns also bear this out. It may be said as more junks are licensed there are fewer unlicensed ones to take out Anchorage Passes, Clearances, &c., but comparison of the years of 1889 and 1890 disposes of that theory.

10. In 1890, 283 more vessels were licensed than in 1889, the revenue increased $3,000, and the foreign junk trade rose 154,748 tons, and the local 49,103 directly, no doubt, due to an increase in European tonnage of 799,751 tons.

11. In 1891, with an increase of half a million tons, 355 more junks were licensed with a gain to the Treasury of $204.75, a decrease in the foreign junk trade of three hundred thousand tons and an increase in the local junk trade of 130,000 or a net loss of 170,000 tons, to say nothing of the money thereby put out of circulation.

12. That there was no loss to the carrying trade, of course, is patent rather a gain to steamers, but hitherto gain to both ships and junks has gone on side by side with profit to the Colonial Treasury from both; consolidating the earnings of one or other means proportionate loss to the revenue.

13. In the years under review the conditions have been the same; a steady increase in Ocean borne traffic, bad rice trade (taking the years through), and increasing competition from small steam vessels, but under ordinary circumstances the increase of the great source of supply the Ocean trade was sufficient to preserve the equilibrium. In the 3rd quarter of 1891, indeed as is shown in letter No. 529 dated 15th October, not alone was the rice trade good, but a fictitious impetus had been given to the junk trade by the quarrels of the Chinese Custom Houses, native and foreign.

Tables III to VI.

14. In that quarter there is a loss as shown in the statement attached (Table V) of $28.75 though all conditions save the preventible one were favourable.

15. Tables HI to VI represent quarterly statements of the junk trade, the total amounts for 1890 and 1891 are respectively $22,559.50 and 22,700.00, the apparent discrepancy between that and the amounts heretofore given as the junk revenue for the years under review is accounted for by the fact that the collections from out-stations for December are only received four or five days after the end of each year and so are reckoned in the following year.

Table VII.

16. Table VII is the monthly comparative statement for December and also the yearly one for 1890 and 1891.

17. The only controllable causes of the depression of the junk trade are the suppression of the system of espionage established by the Chinese Customs in Hongkong, and the preservation of the neutrality of British waters.

I have the honour to be, Sir,

Honourable W. M. GOODMAN,

Acting Colonial Secretary,

St.,

&C.,

&c.

Your obedient Servant,

W. C. H. HASTINGS,

Acting Harbour Master, &c.

TABLE I.

COMPARATIVE SHIPPING RETURNS FOR 1890 AND 1891.

1890.

1891.

Increase.

Decrease.

Ships. Tonnage. Ships. Tonnage. Ships. Tonnage. Ships. Tonnage.

European vessels,

Junks in foreign trade,

Junks in local trade,

constructed

8,219 9,771,741 8,707 | 10,279,043

46,686 3,572,079 45,403 3,263,118

9,082 332,473 11,930 463,537 2,848

488

507,302

1,283

308,961

131,064

1