Messrs. Samuel Montagu & Co.'s report of January 21 contains the following We are indebted to Mr. Joseph Kitchin for the following information:—Chinese imports and exports of gold and silver for tne year 1919 are remarkable, and those for 1920 when available will douptless be of a similar character. We append details millions of pounds) Gold and Gold Silver Silver (combined) of si st 33 85 3335 33 3
44 2
1913—02 54—52 1914—18 -—19—37 115—23—24—47 1916 20——48—28 117 109——45 -—26 1918—03 62—59 128—172—00
It may be noted that in the case of India the years 1918-19 and 1919- 20 showed record net imports vf silver and gold respectively.
Tue Factor or Exports, Messrs.
Montagu's report - of February 3 says The imminence of the Chinese New Year—commencing in three days time—and the reported difficulties of a Philippine—institution, have brought the silver market into acute touch with speculative operations carried out in China exchange. Importaat though these immediate influences upon the price of silver have been, and may continue to be, they are but as eddies and froth upon a stream, the undercurrent of whi, is the determining factor as to its ultimate course.
Hence, if we reflect that the absorption of silver is linked more intimately with the East than with any other part of the world, the main point to ascertain, if we wish to gauge the tendency of the market, is whether conditions are, or may reasonably be expected to be, such as to warrant a strong set of the current in that direction. In other words, will the export trade from India and China in the near future show signs of vitality
Text read from the printed page and cleaned; old type leaves the occasional error.