280 TWENTIETH CENTURY IMPRESSIONS OF HONGKONG, SHANGHAI, ETC.
In 1905. cotton manufactures were imported to the value of Tls. 181,45^.953, and represented 40 per cent, of all imports ; in 1906 they represented 57 per cent. ; and in iqo/. i/ per cent. The falling off, noticeable more particularly in plain goods of American origin, was due to previous over-stocking. Cotton yam is used chiefly to give a strong warp to a coarse, durable fabric, the weft of which is of hand-spun Chinese cotton.
The increase of TIs. 2,652,430 in the net value of metals imported was caused by large increases in copper ingots, slabs, and ore, tin slabs, and other items ; though there was a considerable falling off in copper bars, rods, unclassed copper, and nail rod iron. As already stated, the importations of flour and rice, included among " sundries," were exceptional, the former rising from 1,784,681 piculs in 1906 to 4,414,383 piculs in 1907, and the latter from 4,686452 to 12,765,189 piculs. owing to the failure of the crops in China. There was an increase in kerosene oil of 32,596,665 gallons over the quantity 1128.687,690 gallons) imported in 1906, American oil being solely responsible for this. Of other sundries, tea from India and Ceylon increased by 48,888 piculs, while sugar declined by 821,871 piculs. The principal items included among "sundries" were as follows : —
Tael».
Taels.
Cigarettes ...
...
,846,781
.714760
Coal
...
,631419
,613,866
Fish and fishery
products
,125,721
,352-907
Flour
.295.753
.984.546
Machi nery
fittings
and
.730,221
,022,421
Matches
...
,139,808
,895,792
Kerosene (American)
.132,179 .205,392 Railway plant materials ... and ,806 ,804,628 Rice .749,590 .307 / brown ... ,457,089 .943 Sugar i white ... .526,409 ,348,220 V. refined ... ,866,573 ,635,161 Timber, hard soft wood and ,397,166 ,126,303
Rice bran, aniline dyes, artificial indigo, leather, medicines. Borneo and Sumatra kerosene, paper, household stores, candy sugar, tea. wines, spirits, and beer represented upwards of TIs. 2,000,000 each.
EXPORTS.
A comparative statement of the tael values of each of the principal articles of export from China during the past half century discloses the fact that unclassed commodities have increased twenty-five fold, silk between six and seven fold, and raw cotton four fold while tea has remained stationary.
Silk Tea Cotton, raw Beans and bean cake Sundries, unclassed • Taels. 12.000,000 ,000,000 ,000,000 ,000,000 Taels. 26,000,000 ,000,000 ,000,000 ,000,000 Taels, 23,000,000 ,000,000 ,000,000 ,000,000 Taels. 42,500,000 ,500,000 7,000,000 3,000,000 ,000,000 Tucls. 74,000,000 ,000,000 ,000,000
1 ,000,000
,000,000 Taels. 78,000,000 ,000,000 ,000,000 ,000,000 ,000,000 The sources from which these exports were derived were : —
Taels.
Taels.
Taels.
Taels.
Taels,
Taels.
Hongkong
,000,000
,000,000
7,500,000
,000,000 ,500,000 ,000,000 Great Britain ,000,000 ,000,000 ,000,000 ,000,000 ,500,000
5,000,000
Continent of Europe ,000,000 ,000,000 ,000,000 ,000,000 ,000,000 ,000,000 Russia — ,500,000 ,500,000 ,000,000 ,000,000 ,000,000 United States of America... ,500,000 ,000,000 ,000,000 ,500,000 ,000,000 ,000,000 Japan — ,000,000 ,000,000 ,500,000 ,000,000 ,000,000 Other countries ,500,000 ,500,000 ,000,000 ,000,000 ,000,000 ,000,000
The exports in 1907 were worth 27,923,958 taels, or ir8i per cent, more than those in 1906. Tea and silk, which are referred to in detail elsewhere, showed gratifying increases. The exportation of tea for the year amounted to 1,610,025 piculs, valued at TIs. 31,736,011, as compared with 1,404,028 piculs, valued at TIs. 26,629,630, in 1906. The value of silk and silk products in 1907 exceeded by 25 per cent. that for 1906. The quantity of bean cake rose from 3,916,043 piculs to 4,182,009 piculs, but the increase in value was even greater, owing to a strong demand in Japan, Sugar continued to decline, and it is not likely, in the face of strenuous foreign competition, that the industry will long survive. The following native products were exported to foreign countries in 1906 and 1907 in quantities exceeding TIs. 5.000,000 in value : — . . Taels. Taels. Silk (all products) ,295.525 ,084,034 Tea ,629,630 ,736,011 Cotton (raw) ,631,138 ,959,737 Skins (undressed) ,389,251 ,017 Bean cake ,064,108 ,148,310 Minerals ,175,722 ,090,117 Oils ,527,821 ,926,088 Seeds .896,485 ,134,053 Straw braid ,650,861 ,819,092 Wool ,499,342 ,531,013
THE BALANCE OF TRADE.
The movement of treasure during 1907 showed importations of gold, silver, and copper amounting to TIs. 15,469,559, and exportations amounting to TIs. 44,108,664. The imports were received chiefly from Japan (TIs. 7,060,019), and Hongkong and Macao (TIs. 6,157,455), whilst of the exports, TIs. 24,167,089 went to Hongkong and Macao, TIs. 10,500,401 to India (including Burma, &c.), and TIs. 7,764,434 to Europe, The movement of treasure abroad was exceptional. The balance of trade shows an excess of net foreign imports over exports of 57 per cent, in 1907, as against 74 per cent, in 1906, 97 per cent, in 1905, 43 per cent, in 1904, 31 per cent, in 1903, 28 per cent, in 1902, and 27 per cent, in 1901. China's gross assets and liabilities may thus be tabulated : —
LIABILITIES. Taels, Taels. Value of merchandise imported in 1907 ... Loans and indemnities Invisible liabilities (1903 estimate) Total .401,369 38,500,000 ,000,000 ,901,369
Among less important items, beans, bristles, camphor, fire-crackers and fireworks, mats and matting, medicines, nankeens, paper, provisions and vegetables, dressed and made-up skins and furs, and tallow, represented upwards of TIs. 2,000,000 each.
ASSETS.
Value of merchandise exported in 1907 ... 264,380,697 Net export of treasure from commercial area (which includes Hongkong! 21,427,693 Invisible assets (1903 estimate less certain deductions)... ... 147,000,000 Total ,808,390 Difference to be accounted for ... 54.092,979
