Tae question of the establishment of Bonded Warehouses in Shanghai has almost been lost sight of in recent years, Bat in 1869 the Chamber of Commerce entered into an active correspondence on the subject with the Inspector-General and wor of Customs ab this port. result was that the In. spector-General assented to the forma. tion of bonded warehouses in Slt on certain conditions, which we: quite acceptable to the Chamber... The Chairman said, at the meeting of members held on the 7th of May, that the system of bonded warehouses would some instances be a great advantage the registration fee suggested by the Customs was, however, consid ed too high. But the change which 08 taken place in the manner of warehousing goods here, by the inorensed use of the public wharves us ware. 1, do sides, the amount of the license fee could be discussed anew wilh the Customs, We cite the action of the Chamber of Commerce so long ago as 1869, to show that its members were then in fayoar of a bonded warehouse system being established here. In the Supplementary Convention bet Germany and China of 1880, Article III provides that "the Chinese Commis. sioner of Customs, and the other com. petent authorities, ball, after agreeing upon the necessary regulations, them. selves take measures for the estubl ment of bonded warehouses in all the open ports of Chive, in which they are required in the interests of om: merce, and where local circumstances would admit of such an arrnngenent being made." In the special stipulations to the Ca: i experiment to ascer bonded warehouses can be established in the Chinese open ports, shrill be firat made at Sharghai." he Customs Director here, that is, the Tao-tai and the Castoms Inspector-General ave to draw up forthwith proper regulations [suited to the local circumstances, and then proceed to the establishment of bonded warehouses, We quote this to show that six years ago the Chinese statesmen assented to bonded ware. j houses being established at this por jand we know of nothing to lead na. to believe that they have since changed their minds in this respect, And the benefit which bonded warehouses would confer on ull traders are sv evident, that Herr von Brandt onnnot, we should think, have seen any reason to doubt the utility and importance of the clauses we have quoted, being put into It may appear somewhat urineeer sary that we should now allude to what wns formerly supposed to be the chief objection on the part of the Chinese authorities to bonded warehouses; that their revenue would suffer some measure frow the delay in payment of the import clu There was more in that objection in 1869 than there la now. Since then the opening of the Suez canal has effected enormous changes in eastern trade, Profits have been so much reduced that merchunte are now obliged to tain over money ne often us possible, in order to make their business pay. Iv in rarely, and only under extraordinary civcutustuncer, thut importers now hold goody for n con siderable time, whereas formerly the prospects of the market, or instructions from howe, or other reasons, induced jmorchauts to keep their goods an. sold, sometimes for lengthened periods, Now-days large quantities of goods Are sold "to arrive," occasionally before the cloth has been woven in Lancushire, Sach imports are taken delivery of soon after they come here, and, the on them are ab once collected, The course of modern trade is alwase tending to the rapid passing of commodi" ies from first hands into those ut cou. uriers, or, at least, into the consuming districts, Bat~ notwithstanding the rapidity with which goods are now moved from here, the stuck ut goods held by importers, and on which duties have been paid, is on the average us large it was fifteen or sixteen years ago, while diminished profile and seriously decreased values make the levy of duties before the goods wre puld for by the native buyers a more serious impost on trade than it was formerly, All this is perfectly well known to the Inspector-General; on whoee advice in such a matter the Tsung-li yamen will no doubt depend. He, doubtless, will also see that the quick turn over of
Text read from the printed page and cleaned; old type leaves the occasional error.