23rd April.)
From a native source we learn that four Chinese millionaires (?) of Lunghua have conceived the idea of substituting cotton for tea in several districta, and their agents are now busy sounding the country people as to whether they will ce-operate wi them, Our informant states that the scheme is well thought of generally, if only the government will assist the project (as before) instead of obstructing it of which there seems to be some dread, News of the great falling off in advances to the teamen this season seems to have renched the tea-districts apace, since we are already assured that growers, instead of allowing all their first pickings to lie at the mercy of the few who may be in a position to buy it on the spot, intend sending Inrge quantities of it down to the Foochow dealers to sell to the local packers. As it is generally understood that the sooner tea is cured and packed after picking the better, foreign tea buyers will not learn of this mn ture with much satisfaction, Nor will the up-country buyers be best pleased if this move is carried out to the extent talked of; they had planned to corner the growers, but, if we may use a sporting expression, the growers are going to hedge. Between the two factions, foreigners may be the gainers in the end as fur as price is concerned,
Text read from the printed page and cleaned; old type leaves the occasional error.