Tokyo, May 1.
Comparison of the number of spindles and annual production of cotton yarn and cloth by Japanese, Chinese and British spinners in China before and after the outbreak is not comprehensive and does not embrace the important producing arcus of China, Japan and Formosa, Secondly, there is a wide gap between consumption and potential production. These facts have obliged the Committee to keep prices at a moderate level. A more vigorous policy would have sharply stimu ed exports from non-restricting areas, and acted as a serious brake on the development of new markets for tea, and the extension of existing markets—an objective which is rightly regarded as of prime importance, in view of the world's large reserve of productive capacity, The committee has had a difficult task in striking a price level wi yields reasonable "profits to producers without weakening the basic position of the industry, and its efforts have achieved a large mea-of-the-China Incident. shows. that.the, cuye of.well-deserved. success, Ship-output of cotton-cloth by the Japanments from non-restricting areas ese mills in China is still ahead of have fluctuated quite sharply in the competitors. last six years but have shown no marked tendency to expand, Con-Sprvpurs AND Yann Provuction sumption, at the same time, has ber, Before the After the increasing, though at @ fine real "Incident" "Incident" pace. And the profit experience of Japanese. milis:—Total spindles 2282000 1,415,000, producers, on the whole, has been Bales produced 45,000—425,000 satisfactory; even if it has compared Chinese mills: unfavourably with that of the ex-Total spindles 2,077,000 Bales produced tremely prosperous period of the British mills:—middle 1820s, when production had Total spindles 221,000 Bales produced 8,000 nat yet overtaken consumption.
Text read from the printed page and cleaned; old type leaves the occasional error.