Import duties were collected in terms of gold. "Anew unit, the Customs gold unit, was created for the purpose, this unit being made to equal U.'s. '$0.40, pence sterling 19.7205 and yen 0.8025. valorem duties the conversion to the new unit presents no difficulties But for specific duties which in terms of gold had become heavily depreciated, the rates have been vestered to' their approximate equivalents in gold by conve basis. of 1 Haikw: Customs gold unit 1.50 ruary'J, 1929, and to 1.73 Customs gold unit from March 16, 1920, fo maintain, in fave of the pheno nvvarde The change has operated renal op" inthe price of fiver a relatively stable income for the Government, ena tinue to pay. gold obligations, During this year also, the series of tariff autonomy treaties with the Gifferent countries was completed the Aateement with Bay 10, 990, which universal formal recognition of an important sovereign right.
Customs "revenue for the last three calendar years was as follo Import duty Export ty Gon trade daty Tonnage dues Comparative figures, of salt
la higher' tariff, became effective,
for the two years is to be account the notable diferent in the figures August 738,908" 9,925,017 Joly $ s20s.943 $13,082.16
ed for principally by the consolida-September 12246,725 12,578,082 {Hon of the customs surtax and the October iitssas 14087955, Jexcise taxes. on petroleum products December 'e0u7t00 15,627,498 Novensber 'S26N7ed 12.504798 with the regular duty commencing from the latter year.
From 1929 to 1830 the volume of imports declined heavily but never-inspectorate for. the fiscal. year oral revenaecolesed by the theless revenue (in silver) inereaslurider review exceeded by $27,000, fed greatly because of the collection }000 the average collection of the fof duties on a gold basis since February, "1930," This increased Test oral Ave year period (1929- revenue. however, is almost entirely The total payments from the salt offset by the greater cost -of the revenue forthe service of foreign Toas during the fiscal fear armoute:
Jehanging the three-grade classifica tion which had" proved so satis factory.
Improvement of System of Taxation The National Government, upon its, establishment at Na heir to.a motley collection of taxes, surtaxes and miscellaneous. imposes which were levied without any'pretense at system by innumerable Dureaux all over the country. In 1928, In the city of Shanghai alone, there were counted over a hundred. fand thirty national "and local tax offices. It has been "the constant policy of the Ministry to reduce the service of loan and indemnity service of such obligations us payable in, gold. ith ed to e870, which absorbed $10 818,113, During the six "months are being paid cut of customs {from July to December, 1930, pay-land salt revenue tes £8,500,- ments amounted to £654,451, which (000. The cost of remitting. thai absorbed $13,490,479. uni at the average rates of €x-'Owing to the dec change obtaining recent years i8 o¢' in the value aliver, the loan quotas established number of taxes to a minimum and. present besides the Customs Salt Administrations there. xemain. only the Consolidated shown belo January, 1831, average" 21.60 184,000,000
On January 1, 1931, the Government abolished coast trade duties, transit dues and all native. customs! duties levied at points more than 50 I from treaty ports." Native! customs duties levied within. the Soli area on imports from abroad were at the. same time. abolished, while those on domestic produce are abolished as soon'as. the ex ort tariff is revised, mares have caused a heavy' loss of could iltattord, but they willie Revenue, which the Government
amply justified by' the' resulting] Beneht to domestic trade.
On January 1, 1931, the frst {gift promulgated after the comple: tion of the set drafting of the new tariff: (1) to reduce duties terials als essential to the country's industrial development; (2) to reduce the competition ign products with certain domestic ind feustoms duties and other taxes reduced or repealed.
An analysis, shows that in com-pangen with the 1929 tariff, nearly 10 per cent, of all ith ports show decreases in the rates, 43 per cent. remain unchanged, 1 per cent. show an increase of 2) per cent, 9 per cent, show increases of 8 oF Taper cent, while 17. per cent: show increase by 10 per cent, oF] more ad valorem. The sharpest i creases in rates are on mate chinaware. Other articles on which duties been saled, eames, ati rab ai, tally are sugar, cern
Woollen. products. Upon' a.large of articles, China's tariff rates are now comparable to those of the countries with high tariffs, An estimate of the revenue which will result from the present tariff admittedly dificult, ts the velum of trade.of the last'three years useless as a guide to accurate for casting. As has been stated before the world-wide depression. mate-Flally limits general trade, while the low alue of silver accentuates the decline in import trade. Moreover, the higher, tariff rates are in them: Solves 'a deterrent to consumption and an encouragement to smuggling. As an instance of these factors, the Increase of duty on silxpiece goods from 7) per cent, in 1928 10°22) er cent, in 1929 was followed by a reduction of imports, from 426,000 Haikwan, taelg to 182000 Haikwan deed, that in Telation to the econo-els. Signs are now wanting, in-mie condition of the country the Jaw of diminishing returns. would operate against any general raising.
import tariff rates In the neat, future.
Text read from the printed page and cleaned; old type leaves the occasional error.