85rd March.
We have already noted the remarkable and encouraging fact that, notwithstanding the blow given the trade of China by the outbreak in the north, the total revenue for the year, Tls. 22,874,000, was the best collection in silver, with the exception of 1899, since 1891; and in 1891 Formosa still belonged to China. Another encouraging indication is noticed in Mr. Taylor's remarks headed "Foreign trade." "One would naturally have expected a disastrous commercial panic with heavy failures: but the year has been, generally speaking, "a fairly good though anxious' one. Trade was so brisk during the first six months and revived so strongly towards the close that, contrary to all expectations, the value of the foreign trade was well up to the average of late years, although naturally falling short of such an exceptional year as 1899. At Newchwang such astonishing progress was shown previous to the disturbances that a rapid recovery may be louked for, Tientsin may
Text read from the printed page and cleaned; old type leaves the occasional error.