1897.
29th April. We have received from the Imperial Maritime Customs a copy of the Shanghai Trade Report and Returns for 1897, in anticipation of the annual volume which is such a mine of information for "all who are interested in so much of the Commerce of China as passes through the hands of the Foreign Customs, 'I'he Report, which occupies nearly six pages, is by Mr. L. Rocher, the Commissioner here, and he begins by remarking that, "the grent inflaence that political and economical events exercise on the course of trade is abundantly evidenced by the statistics of the year under review. Political complications in Knrope and the Far East, unprecedented fall in the gold value of silver, and sharp fluctuations of exchange are no mean factors in determining the success of a year's trade, But for such untoward complications the volume of trade for 1897 would have considerably exceeded that of the previous record' year." Mr. Rocher mentions the appearance of the plague. in' the South merely to add that it did not affect the trade of this port, which was, however, affected by the serious tightness of money last autmnn, though the native banks stood the strain mech better than was anticipated. Notwithstanding, however, the drawbacks mentioned, 1897 pressed close on the heels of 1896, "and the statistics under review clearly show the expansion of which, with judicious encouragement and removal of artificial and vicious checks, the trade of the port and of China. is capable, and. the volume to which it would attain." It may be remarked in passing that it is nothing unusual to have a slight reaction after a record' year.
Mr.. Rocher goes on to note the large importation of coal, amounting to more than half a million tons, at an advance of over thirty per cent in price four-fifths of this importation was from outside countries, while China abounds in coal measures only waiting to be worked. He notes that at last the mandarins are waking up to the advantage of manufacturing tea by machinery, and to the value of the more scientific treatment of the silkworm. He calls attention to the continuous and abnormal rise in the value of land, iv rentals, and in the cost of living. These increases, he says, " which affect all classes of society, are bound to react on manual and skilled labour, and indirectly force up the price of -wages and commodities. The rising industries of the port have here to deal with asgrions problem.
The gross value of the trade of this port has been Hk. 'I's, 265,678,990, as against 'T'ls, 226,912,516 in 1896, and its net value 'I's. 101,832,962, a8 against 'I's, 95,035,296."
Coming to imports, Mr. Rocher notices a decrease in cotton goods, with certain exceptions, but points out that this decrease was partly due to the large stocks carried over from 1896. He notes the preponderance of certain cotton goods from America over those feom England, which is attributed to the lower freight from America, Results of the business in cotton goods were spoiled by the vagaries of exchange, but prospects for 1898 are more favourable. 'I'he total value of cotton goods aggregated 60} million taels, as against 64 million taels in 1896; and this is a remarkably good trade, considering that over four million pieces were carried over from 1896. Woollens and metals declined, but the stocks of metals were pretty well cleared, leaving a good opening for 1898, "Phere was a very large increase in the importation of kerosene oil, and the supply of coal was hardly equal to the demand. Naturally with the rapid establishment of industries in China, machinery continues to be an incrensing item in the port returns, while in matches and umbrellas Jupan rules the market.
As to exports from Shanghai in 1897, they were, with scarcely an exception, on a larger scale than in previous years, The mistake the Japanese made in abandoning their design of starting cotton mills in Shanghai, and employing their capital in their. own country, partly caused an increase in the export of raw cotton at higher prices. ''here was a large increase in hides, and a general improvement silk,. with a profitable resuit. Mr. Rocher notes the yearly marked dete-noration of the cocoons, and the tendency of the growers to cultivate qnantity rather than quality; but itis hoped that this will be corrected by the institution in the country of silkworm nurseries for the. selection of eggs on the Pasteur system. " While it is probable," he says, "that a few native-owned filatures will not reopen for the coming season, yet the filature indust may beheld to be more firmly establish though its future hangs "indeed on the production and quality of the cocoon—a slender thread, alas, unless adequate curative measures are introduced without further delay." What Mr. Rocher says about tea has been somewhat but we note with pleasure that both foreign and Chinese dealers had reason to be satisfied with the year's business in strawbraid.
In his remarks on coast trade Mr. Rocher notes the readiness with which the yarn made at the local mills is taken up. 'T'here is little to say about inland traffic, shipping, and passenger traffic; but the note on treasure is generally interesting OF gold, some 8 million taels' worth were imported from Chinese ports, chiefly tientsin;-and 93 millions were shipped away, mostly to Europe. This steady drain of gold from China has been the principal feature of our trea sure statistics for several years, and, strange to say, seems to be little fluenced by the exchange fluctuations. Bar silver still continues to be imported from abroad, though in quantities far less than in 1894 and 1895—notwithstatidiug the higher price of silver during those years,—which shows that it is not imported for speculative purposes, but to be transformed into sycee, a fact further borne out by the excess of sycee exported over the quantity imported whenever much bar silver is landed—the reverse being the case when, as in 1896, very little bar silver arrived. In dollars the import from abroad was the lowest for several yenrs; whereas from Chinese ports, principally Soochow and Ningpo, about 8 millions' worth found their way through this port to Hongkong. Cash continued to rule very high throughout the year, the quantity obtainable for 1 tael ranging between 1,160 and 1,250, é.2., some 900 cash per dollar."
Mr. Rocher writes only a short note on foreign opium, in the importation of which there was a slight decline owing to the rise in price caused by the fall in silver, He notes that the native drug is carrying on a successful campaign against that from India; but so far complete statistics of this trade ure not attainable, Under " Miscellaneous we are told that the general verdict of the merchant on the year's business is moderately good." The cotton mills are working night and day, the local yarn bringing on an average 9 per cent more than the Indian make, there is a fine future for kerosene oil, and the local flour mill is doing well. The wheelbarrow riot, the consequent formation of a French volunteer corps, the French municipal waterworks, the absorption by the Imperial Post Office of the Local Post, the arrival of Prince Oukhtomsky and the departure of Chang Yin-huan, are all noted. Some very interesting details are given of the local surveys lately made by Captain Bisbee, and there is an allusion to the task undertaken by Mr, de Rijke. The usual perfunctory table, which every Commissioner compiles, though he knows that its value is somewhat questionable, closes. a really excellent report,
Text read from the printed page and cleaned; old type leaves the occasional error.