Mention has recently been made here about the absence in the Shanghai market of actual gold It is therefore the more noteworthy 10 state that suddenly about 15,000 gold hi the Shanghi of which is being tendered in fulfilment of existing contracts. Present parities seldom allow of the export abroad of these gold'bars. But it is nevertheless interesting to trace their origin.
Gold mined in China is ridiculously small in volume. Most of the existing stocks of gold are derived from imported gold coins. These are brought to China whenever ver prices are high and capable of baying correspondingly large quantities of gold. The public in China bays gold, ostensibly for embellishment, bat actually for investment or savings. Golden rings, armlets, Bangles, ete, are manufactured in China from" metal of the highest fineness, but the artistic merits of these articles of adornment are hardly extant. Whenever _silver rises considerably in value, a large section of the Chinese people will rush to buy articles from gold. Whenever silver falls noticeably in price, many of the same people will sell their gold rings, bracelets, ete., because they can then obtain more ver dollars than they have orig-mally invested. As these articles are practically out. artistic merits and as sentimental value rarely attaches to these, the wearer parts with them without regret. For reasons just explained we observe the sudden appearance on the Shanghai market of a comparati ly large number of effective gold bars.
Record of Business Done During the Week High. Low 2/4 86. Us. ¢ be"
Yon Gold aes 622007520 anbao '#420 Silver, Hendon 2418/36 245/36
Text read from the printed page and cleaned; old type leaves the occasional error.