Weekly national intelligencer., 1848-05-13

year 1896 published in the Canton Mall Of July s, lS47,
that the recognised imports from all countries were
In British ships Ps..................ss,s9asSs asSs
In American ships. ,oo9 4o4
Ships OF all other countries 1S3,226
Add for opium smuggled, estimatedat. 22000 900
Total imports. s...................... Si,s90,2ls
I The exports
On British account. SIS ,37S, 500
On American account. 5,207, ,57S
On account Of all other countries =. i6ll,5s5
$685. ,495
Balance OF trade against China paid sil9a7so
Balance Of trade against the United States paid in bills on
London, 81, ,591 ,967.
This statement shows falling off in the British imports for
1876, as compared with ls45 of S6 096, 099, and dmnu
ton Of exports British account Of 76l while
hbs gradual but steady increase Of American imports into
China. This would probably be slightly varied if
had from the other ports open foreign rade but
they mostly supplied by re-expoaons from Canton, it
cannot be far from correct.
The select committee of the House of Commons. before
referred to- assign, their report the Of this decenson
in the British trade with China. They say:
In reporting on the condition Of our commercial relations
with China your committee regret state, undoubted evil
dence that the trade with that country has been for some time
unsatisfactory position and that the result OF our
tended intercourse has realized the just expeca
tons which had been naturally founded eer to
magnificent market.
sWhcther we look to the table of exports which mark
decenson of exports in nearly every branch of manufacture
listen the statements Of experienced merchants and
s
"We find the exports of cotton manufactures decline be-
the years S4546 from Ell ,i4 TO Ell in
value those Of woollens in the same PERIOD from E5S9
to E459,668
"We find that great proportion of the trade for the
years the loss taken both that the
and the brought home payment may
be fairly stated from IS 40 per great indeed
that manufacturers have abandoned the trade altogether
and that much of the tea lately sent home has been sent
Chinese account the English merchant declining the
risk OF the venture.
.we find that the difficulties of the trade do arise from
- n~
ture from the increasing competition OF other nations
There no evidence that foreign competition be er-
ouy apprehended in the articles OF general demand The
sole difficulty is in providing
"Srppng the question Of minor details, which may fairly
be left out affecting the general results and setting aside
the junk native trade which, though considerable does not
the general foreign accounts the trade
Of China may be shortly described The bulk Of its
transactions with England British India, and the United
From England China buys largely manufactured goods
From the United States, the articles From British In
dia, opium and cottonwood 10 large amount In the
year fsl5 these imports will have been above
valued at s&s, $50, ,7si, equal to 50, ioi $50.
"The whole OF this import has TO be paid for, with
slight exceptions by tea, silk and silver though sugar and
Chinese grass substitute tor hemp possibly be here
after Of some importance
sThe payment for opum from the nordinste desire for it
which prevails and from the unrecognsed nature OF the
action which requires prompt settlement Of accounts abb
serbs the silver to the great OF general
traffic OF the Chinese i and tea and silk must, In ct pay
the rest.
''of these England and the United States nearly the
were so naturally expected from commercial civil
lized empire OF above 500 600 people practically
limited by the extent TO which these countries are willing or
able these products Of the soil OF China.
"The balance Of trade viii doubt adjust itself
er accordance with the lessons OF loss and dp
ponent which the three last have taught but unless
look forward increased consumption OF those pro-
ducts in which alone China has the OF paying this adj
jusment only be made the Of largely diminished
EXPORTS and Of restricted employment to every branch of in
dustry connected with them.
"he export Of silk from China steadily on increase
and under heavy taxation its either
into the United States Britain the
opened the port Of Shange has brought into closer
contact with the districts most productive OF it, there sevey
to hope that will grow with the growing wealth and
luxury Of nations and progressively become element Of
greater importance smongrt the means Of payment"
perfectly obvious that the which operate to de-
press and limit the trade between China and Great Britain do
not prevail exist in the intercourse between the United
States and China In the former the balance Of trade is
enormously against China In the latter il is very largely in
her favor The balance Of trade in favor OF Great Britain,
stated for 45,46,47, is founded estimated value
Of the opium which mugged in and probably below the
mark The British consul, have seen, estimates il at
two millions Of pounds erlng about $40 900, 600 per
The average balance in those years against the Un
ted States, and in favor Of Chins, IS, The
average price Of exchange at Canton London for nine
years, from 1887 TO ls46, six per cent 10 state
differently, bill Of exchange London Of 500 worth
at Canton SlO6. Consequently II cost our merchants an
average Of 1885, O per for the three years. is4o
49,, to adjust this balance Of trade, and that amount
should be added TO that balance which will make So 543
Some years past the rate Of exchange much higher n
1884 fourteen per cent and the amount paid to settle
the balance OF trade against must have been near one m
hon Of dollars We therefore perceive that to the extent we
introduce American products and manufactures IN exchange
for those OF China, obviste the payment OF this tar
In s44 our imports into China carried IN forty
vessels Of 292 tons burden. This brings up the number
Of our vessels employed in all parts Of the Pacific and IN the
China trade TO nine hundred and eghyve SAIL Of s2s
TONS The British trade with China in that year was carried
The British Consul in his despatch dated 18th Of Febru-
airy, 1s, says How long the Chinese viii be able to sus-
tain this continual drain a. OF OF the precious
metals impossible determine but the fact being nov we
established hat the export Of England cannot be in-
creased under the present system Of duties - not dfcu
TO oresee that unless opening be found for con-
sumption OF China exports 10 markets. gradual reauc
ton must take place, either in the quantity or me prices o.
our imports in China until they come to proper eve vn
the other hand, beyond calculation 70 what extent me
Chinese would purchase woolsns and our coon we're
we enabled TO take their produce In return, especially after
having attained the legazstion Of the opium trade.
He further states and 10 confirmed by SIR y DAVIS IN me
statement, that II he borne IN mind thst hs import
trade regulated by and depends wholly on the export trade
and that therefore only OF exports can cause COR
responding increase imports The China trade being essen
italy direct barter trade 10 obvious tst unless means can
be found TO take from the Chinese larger amount OF their
principal export tea there TO be but limited prospect
Of deriving for the British manufacturing interests All those
advantages which the position We hold m the country,
consequent on the late war must lead them expect"