If the remarkable record of the trade of Shanghai during 1919 can be considered prophetic, we are on the threshold of an era of unprecedented expansion and_ prosperity, says Mr. L. A. Lyall, Commissioner of Customs, in his latest report on the trade of Shanghai. The year under review was a most prosperous one. The gross value of trade reached the record total of Tls. 768,000,000, surpassing all _previous records after allowance has been made for present inflation of prices. Foreign, coastwise and transit and shipping, all registered distinct gains over the preceding year, and the material progress of Shanghai was reflected in the continued prosperity of her large industrial enterprises and the establishment of new ones. Cotton mills produced to their utmost capacity and made handsome profits. The dockyards had all the work they could handle, while the flour mills and minor industries had a uniformly successful Several new manufacturing including a steel works. glass factor te factory, and an oil mill were organized during! the year, and many new business! houses, foreign and Chinese, were established. Other evidences of ex-noted are the widespread building operations, proposed additions to the public services. particularly to the electricity plant. and the increase in population.
Lrapixe Up.
Perhaps the most striking phase of the year's trade was the rapid growth of Amer 'a's share in the' trade of Shanghai.
The total value of the direct trade. import and export, with America rose from Tis, 81,000,000 in 1918 to over Ts. 143,000,000 in 1919, an_ increase of 76 per cent. The United States! thus took first place in Shanghai's foreign trade with a margin of is. 28,000,000 over Japan, reversing the position in 1918, when the value of direct trade, with Japan was Tls. 53,000,000 above that of the United States. The balance of trade with America was distinctly in favour of China, ex ports—Tls. 85,000.000—exceeding imports by Tis, 27,000,000: although this baiance, would be somewhat reduced if the value of American goods shipped via Vancouver and credited to Canada were ascertainable.
Text read from the printed page and cleaned; old type leaves the occasional error.