Sessional_Paper_1902 — Page 903

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The Opium Trade was far from prosperous during the past year. In the Bengal drug, owing to large stocks early in the season and a declining exchange in the latter half of the year, the business done, though considerable, was productive of loss to both importers and native dealers. The demand for Malwa was poor and disappointing, and the prices obtained left no margin for profit. Owing to the Formosan Government being practically the only buyer of superior Persian, the rates for this drug fell from $825 per picul, the opening quotation, to $640 per picul in the latter end of the year.

As regards the trade in Indian Cotton yarn, the year under review shows a decidedly marked improvement over the previous twelve months.

The Imports to Hongkong and Shanghai, which showed a shrinkage of close upon 60 per cent. in 1900, increased again over 100 per cent. during the past twelve months, whilst sales in Hongkong showed an excess of 45,715 bales and those in Shanghai of 69,083 bales.

A great and important movement has taken place which has opened the whole of the markets of inland China to the world. Manufacturers on the spot will cer- tainly be unable, at least for some time, to meet the greatly increased demand which will thus be occasioned; and in the meantime India may fairly hope to reap some share of the harvest, more especially if Lekin-a veritable millstone round the neck of this trade-is effectually removed.

The following figures are of interest:—

COMPARATIVE TABLES OF IMPORTS AND EXPORTS AND REPORTEDŜALES OF INDIAN GREY YARN EFFECTED IN HONGKONG AND SHANGHAI DURING THE YEARS 1876 To 1901.

Imports

to

Direct shipments from India to Shanghai

Total Imports to

Year.

Hongkong

China and

from India.

and Japan.

Japan.

Total Sales effected

in Hongkong.

Total sales

in Shanghai.

Bales.

Bales.

Bales.

Bales.

Bales.

1876

17,598

17,598

6,758

1877

30,288

30,289

17,806

1878

37,799

37,799

30,031

1879

47,338

6,721

54,059

42,093

1880

60,265

3,980

64,245

49,571

1881

55,705

7,834

63,539

54,411

1882

82,286

6,458

88,744

77,945

1883

97,200

16,514

113,714

89,889

1884

137,075

12,858

149,933

112,450

1885

150,221

27,954

178,175

147,894

1886

175,291

50,089

225,380

142,974

1887

178,790

88,435

267,225

182,152

1888

187,368

90,242

277,610

182,198

1889

225,457

104,850

330,307

197,941

55,401

1890

209,689

167,353

377,042

187,330

104,016

1891

218,732

171,130

389,862

161,504

134,337

1892

237,569

186,305

423,874

219,189

154,386

1893

207,935

119,625

327,560

171,491

112,786

1894

237,260

146,121

384,381

169,117

129,938

1895

257,803

144,250

402,053

213,854

120,911

1896

256,367

244,376

500,743

215,375

151,935

1897

279,412

167,623

447,035

187,948

117,861

1898

308,978

168,467

477,445

221,144

147,678

1899

315,369

288,307

603,676

205,441

167,860

1900

153,610

110,409

264,019

152,277

125,796

1901

291,885

228,688

520,573

197,992

194,879

SHIPPING.

The total tonnage entering and clearing during the year 1901 amounted to 19,325,384 tons, being an increase, compared with 1900, of 880,248 tons, and the same in excess of any previous year. Of this increase, 165,128 tons are due to the