cipally in luxuries; henos it is no wonder that the silk trade hes suffered. This trade was the first to be hit in all parts of the world. France, of course, has suffered; but Italy, Japan and China have suffered equally, because of the universal necessity for economy. Early in the year, the market was fairly active, although dealers were not willing to part with their goods, except at high prices. When the new season began in June, there were rumours about shortage of oocoons and prices went up very high. Then the war started, and all ex-be short, had paid high prices in the interior marts. When exports stopped, they were in a difficult Tt-was a question how to keep filatures going. The position in the silk trade is too well known to need repetition. The Chit filatures have never had enough capital to meet hard times—even in ordinary times. But they never expected a war and & complete stoppage of trade. From a state in which they were unwilling to part with their cargo, even ab high prices, they came to a stage in August when their cargoes had no value at all.
Help to Filatures, The Chinese filatures were in bad straits Most of them had to close their doors. The Government wae applied to for help. The native banks helped some of the sounder filatures, with money borrowed from the foreign banks on the security of the silk. Still, they could not goon working,. while thers were no exports, About tober, however, there was some improvement in the market.
Text read from the printed page and cleaned; old type leaves the occasional error.