Tue report of the American Chamber of Commerce for the year 1919 contains some interesting notes on the large excess of Chinese exports to America over imports, and the work of Anierican merchant ships.
After referring to other factors which had gone towards the development of Amarican trade, the report states that during 1919 America purchased from China products to the value of Gold 154,153,751 and sold American products to China to the value of Gold $105,514,962, "Since 1913 America through her great purchases of Chinese native _pro-"ducts has built up in China an adverse tendo balance of Gold $58,600,000. other words these figures represent the excess of our purchases from China over our sales to China, To balance this we have shipped to China in the same period gold and silver bullion to the approximate value of $164,900,000 leaving $173,- 700,000 still unpaid. These figures certainly are an important element in the fact that during the past year China has been the only country in the world where the American dollar has been at a discount. To bring this trade into a healthy state, it is of highest importance that a market be developed in China for Ame: can produ ts that will atleest approxi-ato the volume of our purchases from Ay
Text read from the printed page and cleaned; old type leaves the occasional error.