[Statistical Secretary of the Maritime Customs, "the need for some such form of restraint may be gathered from the fact that by October 13, 1904 a met amount of $236,000,000 worth of sliver (exports less imports of including subsidiary coins) hed already been shipped, or had been declared for shipment out of the country as against a net export of only $14,400,000 for the whole of the previous year." He says that, though these were stern measures, it should be realized that never before in the history of China have the net exports of silver for any complete year amounted to more than 21 per cent. of the figures already reached for the year under review at the time these restrictive duties andi were put in force in October.
An important step in the right direction was taken when the export tariff was generally reduced and put Into force. Economists had been Urging this measure, the object be-Ing to reduce the adverse balance. Manufactured goods and agricultural products will be eased thereby of the tax. pressure.
The revenue for the total Customs: collections for the whole of China was maintained, despite 20 per cent. decrease in value of trade, at $334,- 600,000. Shanghai contributed 524 per cent. of the total.
Text read from the printed page and cleaned; old type leaves the occasional error.