The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-01-09

fairly BE- left out as not affecting the general results,
and Getting aside the junk or native trade, which,
though considerable does not assist In the general ad
ustment of foreign accounts the trade of China msy
thus shortly described The bulk Of its transactions
with England British India and the United States
The recognz. ID ports China Of which we have
any account were, in lS45, as follows
From all countries. ........... $40 3907si
In Epglisn ships. .lo01S6s9
Leaving for other countries value of $4a 4ss only
SO 600 chests Of opium, all brought British Amri
account, and from British India, making the whole
so 1896 The export from China to all countries for
the same year, $36 GAL GOO fS O0 926, of which
For England and British Indie. -. .96,e97 Sel
Fer the United States. 1921 100
Thus leaving for the exports to all other countries no
more than ST. 972,s76 in value The returns for the
year lSa6 are not yet completed but far they co.
they indicate the same result. From England China
buys largely Of manufactured goods From the United
States the same articles to the extent of El7O 900
From British India, opium and cotton WOOL to very
This import reaching, will have bs.n seen above
value OF nearly nine millions and half has to bs paid
forwith slight exceptiosu by tea silk and silver though
sugar. and Chinese grass substitute for hemp may
possibly be hereafter Of some Importance.
The payment for opium from the nordnate desire
1t which prevails and from the unrecognzsd
the transaction, which requires prompt settlement Of
accounts absorbs the silver to the great Inconvenience
must In fact pay the rest or these. Euasnd and the
United States nearly the sole and thus
advantages
expected from commercial access to q civilized empire
OF above three hundred millions Of people, practical
iy limited BY the extent to whico these countries
willing OK able to consume thu two products thu
of China The balance Of trade will doubt adjust It.
self later In accordance with the
Of loss aud disappointment which the last three years
have taught but unless look forward to an in.
creased consumption Of those products in which alone
China has the means Of paying this adjustment only
be made at the ocst of largely diminished exports and Of
restricted to every branch of industry
nected with them.
The export of silk from China Is steadiy on the In.
CREASE and rs it aoors under heavy taxation its
entrance either into the United States Great Britain
and as the access opened to the Of Shanghai
has brought us into closer contact with the districts
most productive of it, there Is every hope that
tons, and progressively become element Of greater
Importance amongst the means OF payment This
however from the nature Of the article Ia opera
ton, and must look to tea mainly to an
consumption of tea, for the means OF maintaining still
more of extending profitable trade with those vast
regions For such ON extended consumption, unlese
content to wait for the progress On
dependent solely the increasing numbers OF our DO
puaton We can only look to some considerable reduce
ton Of the price aud for such reduction now that com
petition since the abolition Of the monopoly CT the East
| India Company has had its full effect, and that new
sources supply have for some time been opeped we
can only look to reduction Of the duty. On a Hrst
cost ranging on the qualities Ia most general demand
from Sd to l0d In the ports OF China, any reduction
be effected it might be of advantage to the mer
chant. but would have important effect upon the sell
ing prices In ENGLAND IL Is only through the duty,
duty tie average qualities of about per and
the worst qualities of about $50 per cent that
mulste consumption in any sensibe degree. and such
reduction thus becomes essential healthy an
tended trade That is also desirable in itself pro-
noting the increased consumption Of beverage whole
and agreeable to every class Of population
toxcaug liquors, and that it would be no more than is
due to the Chinese who tax products 80 lightly
while We burthen theirs heavily and with such
venience to their trade committee conceive to be
equally clear. In fact the sole dhculty exists In the ef
feet which any material reduction-and none other
would be Of uch value may be expected to have upon
the resources of the exchequer The derived
from tea In the last year amounted to S5ll1s97 and
although this cannot b. permanently
relied on, being founded q consumption which has
been carried to that extent by prices
to the importers and which therefore not likely
be continued, yet 1t Ia doubt important ele-
ment IN the income of the country that under
circumstances cannot be lightly dealt with Upon this
point the house itself only determine At the
time, although your committee will not pretend to affirm
that no loss to the would be the quence
lar reduction they cannot fobear from stating the
which induce them to think that though the
might possibly for time be consiiersbet would not be
long continued
10 the first place. tea s article the taste for which
is widely spread and growing among all classes although
the has evidently been checked Ia compare
with the similar articles Of coffee and COCOA by the
want Of that favor in the shape reduction Ia DUTY
and consequently in price the consumer of which
they have the object Indeed while tho duty on
them has been reduced respectively since 1921 from s
to a. per 10 and fro Is to I'd per b. the duty tea
has been enh but although the effect of this diff
ferent treatment Of articles similar in their nature
be seen In the dereo rates of increase which have
increased time by 500 per cent and that of
cocoa by above 1000 cent while the ncrease IN that
even that proportion amounting to positive Increase
ef 600 600 lbs due only to the effect of more open
trade fully bars out the general proposition That the
consumption OF has not yet received s full dsveope
ment s further clear IL consider larger proportion
Of tea consumed 10 other popuatons of similar tastes
with those Of the British islands In these the consump
ten is no more than ID 10 o. per head whereas IL
appears that in the Isle Of Man It IL ID, 10 in Je
sey and Guerbsey lbs 4oz aud In Newfoundland and
Auptraa n considerably ar
will be said, however, that any reduction in duty
would only have the effect by throwing larger demand
the markets in China of increasing the price tho
English merchant aud that equsnty the benefit of
such reduction would rather the Chinese grower or
merchant than to the English consumer. This would
undoubtedly be the to considerable extent IL the
market Of supply were limited difficult to be extend
have apprehension that this will be found to be the
with regard to tea Although IL isa point which
from the limited acquaintance which possess with the
interior Of China It cimpossibe to produce distinct
formation yet we know that the demand for tea from
China has been progressively apd rapidly rising for many
years, with no other result than that of diminished
prices and that there Is population there, commonly
assumed Mt above three hundred millions, at all hours
of the day consuming tea which only requires
change Of preparation to be ct for exportation thus
implying an amount Of supply which any demand
that may be made io foreign export can De- atsra very
marke. has been drained Of tea Ia any year
but that there has been sweysa surplus left to meet any
ieve from the evidence before that the cultivation of
the plant may he indefinitely extended We have
moreover the general experience In all articles the sup
ply Of which Ia not limited by physical other
(such a. cotton. &c) that an increased demand, by
%us.1s the Industry or the enterprise o. the parties
larger supply at 10 price, instead of permanently
raging IL.
II the other hand u should be said that to convert
tnsI into profitable which has hitherto been I'M
pr ntabe trade 1t necessary that part OF the
ducton should 20 to the benefit OF the ant In in
crease OF price, the Il. that the interest
the duty u reduced from "a ~ to Is would of itself
enough 10 make the whole difference between losIng
sThe experts to China since 10 have been as foows
Wl3 1874. l8i5. 1876
g tons. ....... 81 800 5156i1 1875 AL 1868
Wooliens -. tIsl3 s65,i98 $40 22i i39 65S
All other artictf... l6is26 l6Lsi2 I2ias3