12th March.
IN our notice a fortnight ago of the Customs Returns for the fourth quater of last year we gave the figures of the total Customs revenue for the past ten years. The first art of the Returns of Trade and vade Reports for 1899, issued Saturday from the Statistical Department, carries these figures three years further back, ie., to 1887, when the revenue was Hk. Tls. 20,541,399. We may repeat that in 1899 it was Hk. Tls. 26,661,460, the previous maximum having been in 1891, when it was Hk. Tls. 23,518,020. This is a very fallacious indication of the wth of the foreign trade of China in the same period, for its value was very nearly twice as great in 1899 as it was in 1891. The following figures showing the annual value of the trade are very interesting Ik. Tls. 188,123,877. 234,951,712.
989,926. 368,616,483. 460,533,288.
The Report on the Foreign Trade of China for 1899 is again the work of Mr. F. E. Taylor, the Statistical Secretary, and he is again able to write a very cheering account of the commercial situation. "The foreign trade of China," he begins, "during the year 1899 was characterised by an astonishing development, and merchants, both foreign and native, made handsome profits in almost every branch. The political situation, although still unsettled, gave rise to no immediate fears; exchange remained remarkably steady; the rice crop was abundant; the spring weather during the critical period for the silk-worms was unusually favourable; and, except for a recrudescence of piracy on the West Hiver, there were no disturbances to check trade." We have constantly contended that the want of means of communication is a far greater obstacle to the extension of trade than all the inland taxation in China, and our contention is fully borne out by what Mr. Taylor says. It is, of course, unfair to the Customs to give Mr. Taylor's report in full in our columns, but it is quite worthy of the widest reproduction; his last year's report was quoted as an authority all over the world, and this one promises to be made known as widely. After giving the figures of the total foreign trade of China, he says: "The internal trade of the country was also unusually brisk, and the important changes which will be brought about by the extension of railways have already been proved. Newchwang and Tientsin have promptly respond ed to the stimulus of better means of communication, and the trade at those ports has leapt forward, although the former suffered from a severe outbreak of plague. It is found that immediately trains begin to run, districts through which there was comparatively little traffic, such as between Paoting and Peking, suddenly commence to hum witl life and activity, and there springs up a flourishing trade which was formerly undreamt of and impossible for want of cheap transport. The Russian line has been completed as far north as Moukden, and the extraordinary richness of Manchuria will soon become evident." The section of the Lu-Han railway between Paoting and Chingting (70 miles) is to be opened within six months. There are heavy engineering difficulties the southern part of the line, but the rails have been laid for 24 miles northwards from Hankow and within two years it is hoped that trains will be running to Sinyang (105 miles), and that the whole line of 720 miles will be open in five years. Yingkou, the real port of Newchwang, will shortly be connected by rail with Peking. The other proposed railways, owing to the obstruction of the authorities, are making very slow progress, but we understand that the whole of the Peking Syndicate's capital has been subscribed, and there is likely to be a sudden and important spurt in China as soon as the end of the war in South Africa comes in sight. Santuao, a splendid harbour, Nanking, Tsingtao (Kiaochou), and Yochou have been provided with Custom-houses during the year. The opening of the last port is officially considered the opening of Hunan to foreign trade; but the Custom-bouge and port are some rules from Yochou, and are only nominally in Hunan at all.
The revenue was larger under every heading than in 1898, and as the value of silver was also higher, the Chinese Government may well congratulate itself. The year was further memorable for the abolition of Coast Trade Duty Deposits on the Yangtze, after over thirty years' agitation. It is noted that, exclude ing opium, the revenue from imports represented an ad valorem duty of less than three per cent, instead of the five per cent which is supposed to be charged. Attention is again drawn to the expansion of the import trade that may be expected when more railways are built. China is naturally a richer country with a larger, a more industrious, and a richer population than India; but at present the exports from India are worth three times the exports from China.
The import of opium increased by twenty per cent and the prices were exceedingly remunerative. It is supposed that this is due to the native crop being bad. The trade in cotton goods which had been stationary for three years jumped from a value of Tls. 77,600,000 to Tls. 103,500,000. "The feature most worthy of note was the continued advance in American and Japanese goods, the latter especially showing very rapid development." "There was @ great advance, too, in fancy cotton goods, which come rather under the head of luxuries, as there was in such comforts and luxuries as candles, cigars and cigarettes, clocks and watches, flour, window-glass, lamps, matches, needles, perfumery, soap, sugar, and umbrellas.
The value of the exports of China was more than double what it was in 1890, and it will go on increasing by leaps and bounds as the means of communication improve. " Exports are at present checked by price and inferior quality—the former due to cost of carriage and heavy taxation, the latter to adulteration or faulty methods of preparation for foreign markets.... The complaints made by exporters have been laid before the Government, and in view of the necessity of increasing the export trade to meet. expenditure abroad, it is to be hoped that steps will be taken to teach the people that practices which may bring a temporary profit are opposed to their future interests." This is a lesson which still requires impressing on the Japanese also. The export of black tea is slowly reviving, and America is taking more green tea. "The tea trade is not dead, and the adoption of improved methods of cultivation and manufacture would soon. make China a serious competitor with India and Ceylon, especially as the closing of the Indian mints has resulted in giving China the advantage in.exchauge." It waa a re-
Text read from the printed page and cleaned; old type leaves the occasional error.