'A survey of local trade conditions within the past few years, al especially as applicable to the piece goods market, give the jon that not before realized tint rieanization is neces-she is to maintain aa one of the world's producers of cotton #00ds. Kecent telegrams have that the mills and scheme for a combine, and, while we neil not pretend to be aware of the details, few of which are known here, it seems as if thers may be a' scrapping of the obsolete and a general endeavour to place the industry ea a sound scientific footing. A conception of business on a mass production [basis is suggested, together with the of overhead Juction cordingly a gen-cost to the consumer which will hold out a hope of ming her pre: eminence markets which ures only too plainly show she as been in danger of losing.
figures, where Shanghai is eunve we shall quote pro sently, but in the meantime the first thing that strikes one is the generally accepted vie these views; n the one hand, ther seems to ha been too great servetism on the part of cer-shortage of apitol hi edly hamper-others, preventing: them from securing modern machines themselves. in tion to micer competition elsewhere. Of course, there has been the factor of the high cost of labour, but especially time when labour is dear there should be recourse to greater indebted to figures appearing in the circular of Messrs od, Murray & Ca, sare exceedingly int one since the The first thing we sce anghai were 10,944,084 pieces, consisting of 38 per cent. Europen goods, 21 per cent, Japan. ese, 16 per cent, of local manu facture, and 5 per cent. Ameri can, To show the trend of events we shall now take the year 1924, and in that year the level deliveries were 14,197,249 pieces, the percentages being cent, while ican total becomes ically negligible, possibi: 0.25 per cent.
1928 ure not for 1937 the nil tue pereent= roughly)
Japanese 38, local h Amer sam at negligibh Going further into the figures 1919 we find that in European cotton goods i into Shanghai a 6,363,481 pieces, while in 1922 they had risen to 8,000,000, In 924 they had dropped to 6,936,:17, while for 1927 they were risen from 2209, but most interesting consumption of the loc factured product, from 1,71 pieces in 1919 to 1927, So f trade with China is concerned this does not make pleasant reading, but it docs not seem possible to explain away these statistics, One is rather foreed to the conclusion that there ix truth in the statement that in these years her trade has been more and more confined to high class specialities, in which she of these figures had its effect in promoting a new policy in the English textile industry, but we are certain that it has." Recently a distinct for ward step was taken by the formation of the astern Textity \ssoeiation, which succeeded in putting cloth manu tact england on: s production basis on the China market wita excellent results, and th be considered as' a first import= ant stop in retarding the dows snude tendency exemplified la the preceding paragraph. It is true that that is a matter still in the experimental stage, but june the less important om that account, and in this combine scheme We can see even greater hopes, Up to the present a vel large number of concerns have registered, and the intention is Chat those which can be cons sidered sound will be adequately financed and doubtless will be completely modernized, Then weak elements, it is exist concerns wich sticeced in keeping ulto: by existence has naturally (he tendency to prevent others from insisting on obtaining a reason ule eeouomie price, That is obviously a weakness from which the industry suffers, aad until it disappears there can be litre hope of putting matters on a proper footing, That, how is where finance and business ment should be able {9
The boom of 1919 diet no good, but the pre= re an entirely our hopes for the of this trade with Chin to remember that propingu the part of the Japanes local mills give them a distinct advan s orders do not have to be placed at such a d of time ahead, and this will me vari n important' Factor, but th why at rear ith behind it the tradition of high class regain much of the ground which has been lost, ever remembering that this is one of the broadening lines of Chia mance has ition to the effect of China ive the ail all pul sent te institution.
Text read from the printed page and cleaned; old type leaves the occasional error.