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TRADE REPORTS AND RETURns, 1904. Further extracts from the Customs annual report for 1904 are:-Imports.-The total value of not imports was Hk. Tls. 344,060,608, an increase of five per cent. Up to a few years ago our recorded values were based on market price; of recent years some ports gave market price | and others o.i.f. value; but for 1904 the value of each article of trade is the value at moment of landing (the c.i.f. value). Comparison is there- fore to be made with the total, Hk. TIs. 310,458,428, which appears in the summary at the close of my Report for 19 3,-and the increase is actually 11 per cent. The accom- panying diagram shows the decline in the relative importance of opium, and the rise in cotton manufactures and "Sundries" in the past 4 years. In 1864, to a total of 50 million taels, opium contributed 40 per cent; cottons 12 per cent, woollens 10 per cent., metals 4 per cent, and all other goods 33 per cent. ; in 1904, to a total of 344 million taels opium con- tributed 11 per cent., cottons 36 per cent., woollens one per cent., metals six per cent., coal two per cent., kerosene oil 8 per cent., and all other goods 36 per cent.-an aggregate for "Sundries" of 40 per cent.
THE HONGKONG WEEKLY PRESS AND
7,841,605 pieces in 1903 and 8,109,020 pieces in 1904, thus showing a prompt seizing of the op- portunity to replenish the market; American mills supplied 4,782,141 pieces in 1903 (already a much reduced output) and 3,703,548 pieces in 1904, a reduction explainable partly by the necessity of first supplying the American market, partly by the distance from this over flow market, and partly because the American mills are most affected by any reduction in de mand from Manchuria; the Japanese mills supplied 730,723 pieces in 1903 and 607,312 pieces in 1904, a reduction the more certainly Attributable to the effects of the war and the resulting high cost of credits, since they are near st; the smaller supplies of Dutch fabrics were less and of Indian fabrics were more. Since the resumption of business after the fall in the price of cotton, it is reported that orders have already been placed for nearly all requiremen's a year or more ahead. Fancy makes of cotton goods, articles of luxury, the demand for which increases in time of prosper ous trade, and in the price of which the raw material counts for a smaller proportion, in- creased in value from Hk. Tls. 19,320,246 in 1903 to Hk. Tls. 24,162,260. Chintzes, prints, Foreign opium fell from 5,478 to 54,766 and turkey reds were markedly less in quanti picals, which still was 3,965 piculs more than in! ty and value, but there was a considerable 1902. Malwa increased in quantity, and that development in cotton imitations of superior the demand was genuine is evidenced by the fact fabrics, such as Italians, lastings, Spauish that, notwithstanding the lower silver laying-stripes, flannel, etc. Cotton yarn fell from down cost due to higher exchauge, sale prices 2,738,448 piculs in 1903 to 2,280,878 piculs in were fully 15 per cent. more in December than 1904, the proportion to the total value of all in January. Deliveries of Bengal opium were cotton manufactures of this semi-finished pro- 29,569 piculs, against 32,892 picule in 1903, the duct having fallen from 32 per cent. in 1903 to market at the close of 1904 being overstocked, 48 per cent. in 1904. Yarn reached record with prices below those of January. Of all kinds prices during the year, and the best makes of considered together, the northern ports consum- the Japanese mills realised fully 10 per cent. ad 223 picule less, Yangtze ports 302 piculs higher prices than Indian spinnings; Indian more, Shanghai 2,289 piculs less, Chehkiang yarn was 252,128 piculs less, and Japanese 204 picals more, Fuhkien 1,065 picals less, and 192.677 piculs less, than in 1903. Taking the Kwangtung 634 piculs less. These figures average of the three years 1902.04, we have a indicate increased production of Native opium, consumption of 2.489,099 piculs; the output of especially in view of the fact that the generally mills in China is estimated at 750,000 piculs, of prosperous condition of the country allowed a which about two-thirds come from those at considerable expenditure for luxuries. No Shanghai and one-third from those elsewhere, statistics of the production of opium in China and this gives a total of about 3,240,000 piculs of are ever obtainable, but in the reports from most machine-spun cotton yarn consumed by the of the producing districts are references to the people of China. exceptionally good condition of the poppy during the past year. The only indicator for the move- ment of native opium in China, and that by one only of innumerable routes and constituting a small fraction of the entire movement, is found in the Customs statistics of Ichang; at this port the transit of Yunnan and Szechwaog opium in 1902 was 6,721 piculs, 5.794 piculs in 1903; and 11,282 piculs in 1904, just a half of the last figure being the quantity in the last quarter of the year. The recorded import of Morphis, which in 1902 was 195,133 ounces and 106,148 ounces in 1903, fell in 1904 to 128 ounces, practically a nil importation. A year ago I noted that "Morphia fell to but little more than half the 1902 figures--a subject for congratula. tion were it not probable that 1902 saw large quantities rushed in to avoid the increased duty." The only lesson that can be drawn from the 1904 figures would seem to be that the preventive measures sufficient to check smuggling with moderate duties at the uniform rate of five per cent., are ineffective in the case of a drug of small bulk on which is imposed a restraining duty of over 100 per cent, especially when the revenue authority has no such powers of in- vestigation as are given in other countries for such articles as saccharin or tobacco. The annual average of the two years 1902-03, v ́z., 150,640 ounces, will, I am informed on medical authority, give from 150 to 300 million in- jections, according as the figure is based on the requirements of heavy druggards or on the ordinary dose..
Cotton manufactures were imported in smaller quantities, speaking generally, than in 1903. Plain fabrics (shirting, sheetings, teacloths, drills, and jeans) had declined from 19,015,300 pieces in 1902 to 13,835,506 pieces in 1903, and in 1904 fell further to 12,949,964 pieces. The price of cotton on the Western markets, rising early in 1903 and keeping a high level during that year, was maintained well on into 1904, and was reduced to a reason- able rate in time to give full work to the mills, but not in time to bring the woven product to the consuming market. Of the plain fabrics named above, the English mills supplied'
i
llens call for no comment; their value remains at about four million taels, the value of the import of 40 years ago. Those who can afford woollens prefer silks and furs, and the wearers of cotton-wadded garments and sheep skins cannot afford woollens.
Metals increased in value by over a third; the increase is observable all along the line, the only marked exce tion being steel. The exag- gerated increase in copper (slabs, sheets, etc., from 90,997 to 273,910 piculs) and in spelter (from 1,09 to 14,326 piculs) is attributable to
the demands of the Mints.
The import of rice which in 1903 was less than a third of the 1902 importation, rose in 1904, by 20 per cent., to 3,356,830 piculs; with the excellent crops in Kwanglung in 1903 and 1904, it may be assumed that its industrial urban population will always call for foreign supplies. Rice bran was also imported to the amount of 2,311,658 piculs.
Cigars and cigarettes increased in value from 2 to 34 million taels; while household stores and wine, beer, and spirits, maintained the value of 1903.
Flour comes to us, for the most part, from Hongkong, but in bags with the imprint of American flouring mills; the quantity increased from 766,324 to 937,946 piculs.
Under dyes the only point to attract atten- tion is the increase in the import of artificial indigo, from 11,818 to 18,819 piculs; vegetable iudigo a Chinese product made foreign by pass- ing through Hongkong, also increased from 70,8 4 to 78,447 piculs. Other synthetic dyes maintained 1903 figures.
Kerosene oil continues its onward march, the total import having risen from 84,998,335 gallons in 1903 to the enormous figure of 156,891,235 gallons in 1904, an increase of 84 per cent.; to the total imports of the two years 1903 and 1904 American oil contributed 87 and 43 per cont., Russian 16 and 21 per cent,, and Sumatra 47 and 35 per cent. respectively. Borneo oil, under that name, is much reduced, and California
appearance,
oil has made its first
Sugar of all kinds increased from 3,202,980 piculs in 1903 to 3,747,563 piculs.
(April 17, 1905.
Railway Plant was less, at Hk. Tls. 6,046,459 in value, and other machinery increased in value by a fourth to Hk. Tls. 2,660,039.
CC
17
By the addition of reveral categories of goods to the list of Imports enumerated it was hoped that the value of those included under the heading Sundries, Unenumerated would be materially reduced. So rapid, however, is the development of trade in minor articles that the heading gives even a greater valus than in 1903, having risen to Hk. Tls. 12,753,337. In this figure is included an exceptional sum of Hk. Tls. 1,038, 16, the value of 3,310 piculs of Man. churian wild raw silk imported into Shanghai from Dalny and Port Arthur, and consequently treated, not as native, but as Foreign produce.
The transit of Formo-a tea at Amoy was less than in 19.3, the quantity re-exported having fallen from 143,890 piculs in 1902 to 119,488 piculs in 1903 and 101,761 piculs in 1904. The rest of the Re-export trade shows some develop- ment, having been, excluding Formosa tea, of a value of Hk. Tla. 9,438,240, against Hk. Tls. 6,523,062 in 1903, an increase due to an unusual demand for cotton fabrics for Japan and Korea.
Exports.-The total value of exports was Hk. £239,486,683, an increase of 11 per cent. As bas been noted, this is value f.o.b., whereas those of 1903 were based on the market price, and did not included charges for packing or shipping or duty, all of which are necessary ingredients in the value, the amount of the bank bill negotiated, required for international exchange; and during the past year special efforts were made at Shanghai-the port at which, whether as export or as re-export, is shipped over half the Native produce leaving China-to obtain the true values from the ports of original shipment. The value given above is to be compared with that given in the sum- mary at the end of my Report for 193, viz., Ak. £236,205,162, and not with the total, Hk. Tls. 214,352,467, at the foot of the table of ex- ports; and the inference must be that the export trade has not materially increased in value during the year. A study of the accompanying diagram shows the rise in importance during the last 40 years of goods other than silk and tea. In 1864, to a total of 51 million taels, silk contributed 24 per cent., tea 58 per cent. raw cotton (an exceptional exportation, owing to the American Civil War) 12 per cent. and all other goods six per cent.; in 1904, to a total of 239 million taels, silk contributed 33 per cent. tea 12 per cent., raw cotton 104 per cent, beans and beancake three per cent, (five per cent. in 1903), and other goods 41 per cent.
In the enumeration of exports, tea is still given first place, on account of its past import- ance. The total shipments of all kinds amount- ed to 1,451,249 piculs, a decrease of 226,281 piouls. Black leaf shows no diminution; green leaf fell off 60,474 piculs, fairly distributed over all the consuming markets; and brick tea, black and green together, accounts for the rest of the reduction, being less by 170,763 piouls. The lessened export of brick tea left a large quantity of Dust available for shipment. The maintenance of the figures for black tea will teach the Chinese growers and packers a false lesson, in leading them to believe that they can retain their trade in the face of careless and unscientific methods of growing and preparation; they should remember that the restriction of the market for brick tea left more of the crop free for packing as leaf: Large shipments of green tea in the two previous years lessened the de- mand during the past year; and the reduction in the export of brick tea is explainable by the difficulties of transport to the consuming area in Asiatic Russia.
Silk shipments increased to a satisfactory extent over 1903 figures, but in the important items of white and yellow reeling did not attain to the already lowered figures of 1902. The heavy reduction in the shipments of 1903 fell almost entirely on Shanghai, and in 1904 it was Shanghai which showed the greatest power of recuperation. Native reelings of white silk, which there were reduced from 1902 to 1903 by 18,152 piculs, recovered 13,186 picals of the loss, Canton also increasing from 1,408 to 2,915 piculs; and filature reelings rose at Shanghai from 10,670 to 12,754 piculs, and at Canton from 83,801 to 34,521 piculs, In the total, 10,374 pionls of yellow milk is included an export of 728 pieuls from Tengyush
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