The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1853-06-22
China-Her Trade and Monev.

China-Her Trade and Money.
The United States Economist publishes
a statement exhibiting the value of articles
of domestic produce annually exported
from this country to China, from 1881 to
1851, inclusive. From this statement it
appears that our total exports, which were
in 1881 only $244, ,79O. have in the course
Of twenty years amounted, by gradual
increase, to 80, 1855. .945, the total for 1851
The same paper furnishes table, show
ing the annual imports into our country
for the same period of time. In 1881. we
imported in all $3,O83 ,2O5. By gradual
increase per annum, the total of 1851 was
$7,O65.144.
The exports consist Of sperm candles.
ginseng, skins and furs, manufactured to.
bacco. cottons Of domestic manufacture,
beef, pork, bacon and lard, and biscuit
and ship.bread The articles imported
are cottons, silks, teas. sugar, and cassia.
In addition to the articles exported there
were annually considerable amounts Of
specie remitted. mostly Spanish silver, en-.
tered as ''foreign merchandise"
The following remarks from the same
paper impart a new interest to the Chinese
question, TO the proper adjustment Of which
our government may not remain passive
spectator:
The state Of political affairs now seems
to indicate that whatever may be the re-.
suit, China will henceforth be open to
trade. The legalizing of the opium trade
may also obvia,e the necessity of paying
for that article in silver; but the quantity
-, T.,
circulate in exchange for the gold flowing
in. The quantity of silver in China must
be very large, it being the exclusive medi-
um Tor payments to the government. The
dread of change. which has been general
ly considered as the leading characteristic
feature in the domestic, as well as foreign
policy of China, has extended in its full
influence to the circulating medium of the
country. The government was determin-
ed that its Golfers. al least, should suffer
no defalcation by depreciation Of the cur,
rency; and hence the imperial taxes and
duties are required to be paid in pure sill
YER. In every large town are gin teen or
money shops the inferior classes Of which
are establishments Of money changers and
shroffs; the more respectable are private
banks. OF the latter class every officer
who has any superintendence Of the rev.
enue employs one or more. TO receive the
taxes and duties, with fixed allowance
for loss in melting. and having reduced
them to sycee silver, to become response
hle for the purity thereof. The establish.
ments %,hich are thus connected with gov
ernment are licensed. a privilege for which
they have 20 pay. bu, not largely. They
are remunerated by the surplus allowance
for waste, which always exceeds what is
necessary. Taxes are generally handed
over 10 them by the government; mercan-
tile duties are frequently paid into their
banks by the merchants from whom they
are owing. and the banker in such case
gives the merchant receipt for the amount,
accompanied by certificate that it shall
be paid to government within certain
period. The refined silver is cast into
ingots, and stamped with the name Of the
banker and date of refining. Should any
deception be afterwards discovered, at
whatever distance Of time, the refner is
liable TO severe punishment.
The silver ingots, denominated sycee.
are cast in an oval form, and as the metal
COOlS IL StlkS III tilo uohilS SOtiG'
thing the form Of shoe. The usual
weig is ten taels each, or 12 ounces, and
some that have been assayed at the United
States mint give 982 thousandths fine.
This is the finest Of the sycee, Of which
there are five descriptions. That already
described. and which is sent to Pekin; the
second. that taken for land tax: the third
comes in pieces OF fifty taels each; the
fourth. Of low standard, used for the salt
tax; and fifth, much debased. Bearing
these facts in mind, and also that China is
a silver producing country; that the ex
port of it is illegal; that there are $50, ,0O0,-
900 souls, and that the revenue. all col
ected in this silver, is $500 600, 900 per
annum. sen, in ingots 10 Pekin, after de-
duc,ng the local expenses. and the'infer-
ence remains the quantity OF silver in
China, the accumulation of tens OF cen.
tures, must be immense. That stock is
now apparently about to be added TO the
circulating stock of the commercial world.
after boarding and distrust. caused neces,
sarily by the civil war, shall have passed
aWay.