Since the recent sensational cline in the price of siver, atten ti has been directed to the supply of and demand for silver in China, The table given below, compiled from the Customs returns, contains tthe statistics on China's net import and export of silver including both coins and bars and sycee from 1890, to 1928. As shown in the table, the 39 years can be divided up into six periods ateording to the net port or export of silver. During the first period (1890-1892), the net export amounts to Hk. Tls. 12,074, 890 bringing a favourable balance to China. During the second period (1893-1900), the balance turns unfavourable to China. The net import of silver amounts to Hk, Tls. 90,699,311, representing an annual average of Hk, 12,087,414, During the third period (1901-1908), the net exports amounts to Hk, Tis, 108,946,644, representing an annual average of Hk, Tis, 13,018,331, The year 1907, however, has the greatest, net export of Hk, Tis, 31,208,130, During the fourth period (1909 1913), we have an unfavourable balance again, The total net i port of silver amounts to Hk. Tls. 122,158,802, representing an annual average of Hk, Ts. 24,431,600, The greatest net import of Ik. Tis, 38,- 300,002, however, occurs in 1911, Effect of the War 1
In 1914 the World War broke out and the belligerent countries absorb ed a large amount of silver for the coinage of token money. Conse~ quently, silver continues to flow out from China up to 1917. During this period (1914-1917), the total net export amounts to Hk, Tis, 81,006,- 487, representing: an annual average of itk, Tls. 20,416,022, of which the year 1916 has the greatest net ex-ort of Hk, Tis, 28,678,126, During the carlier part of the sixth period (1918-128), the belligerent coun+ tries melted down the silver coins; consequently, there has been a con= tinuous inflow of silver into China since 1918, resulting in an unfavourable balance to China, During this period there is a net'import fof fk, Tis, 621,667,042, representing annual average of Hk, Tis, 6 515,186, In 1928 the net import.
wer amounts to Hk, Tis, 106; which represents an increase of Hk. Tis, 41,312,339 over the preceding year's figure, Thus, dur+ ing these 39 years in Eh excess of the total net import of silver over the total net export amounts to Hk, Tis, 637,857,134, and period of net import is invariably, followed by one of not export, CHINA'S NET IMPORT AND EXPORT 'OS,
Text read from the printed page and cleaned; old type leaves the occasional error.