The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-11-19
BALTIMORE.
FRIDAY, NOVEMBER 10, 1858

The first matter of Importance, preliminary TO
establishing commercial relations with foreign
nation, is to know something of the people, and
IN understand what commodities would most
probably find a ready sale among them. To carry
Goals to New Castle, warming pans to the
Tropics, would be very properly regarded as a
foolish expenditure of time and money; yet it not
unfreouenty happens, that merchants send out
ventures to distant lands which are equally inap-
nropriate At the close of the Opium war, it was
believed in England, that vast variety of ari-
cles would find a ready sale, at the newly opened
ports. which had never been introduced into the
Chinese market, and many enterprising firms
promptly sent out assorted cargoes, in the full
confidence of realizing large profits on their ven
tures The result was that, in almost every in
stance they found that the commodities they had
sent out were not at all in demand, and, as a
consequence, the shippers were subjected to heavy
pccuniary losses. The establishment they expert
enced at having so signally failed where they had
so confidently hoped TO succeed, led to a Parlia-
mentary inquiry into the causes that had led to
disappointment so wholly unexpected. 1t was
then found that only few articles of foreign
manufacture-chiefy the cheaper cottons, cot
ton warns, and woollens-were in demand in
China, and that even for these the market was
limited. If larger purchases of teas and silks
were made the Celestials would buy, in return,
more freely of English goods, but not otherwise;
and the only mode suggested, whereby the trade
between the two could be increased, was
for the English Government TO reduce the duty
upon teas and silks, and thus encourage greater
consumption and use of these Chinese products.
It is needless to say, that the suggestion was not
acted upon. Now the experience of the English
merchants in China, admonishes us, that
reasonable expectation of an immediate and lucra-
tive trade with Japan, would, in all probability,
be followed by similar disappointment. In some
respects the japanese resemble the Chinese, al
though they indignantly repel the idea of COM
mon origin 1t is in their physical characteristics;
in their devotion to agricultural pursuits; in their
ability to furnish, within themselves all the ne
cessaries and many of the Injuries, of life; and
in the policy so long and so persistently main
taned of avoiding, as far as possible, all COM
mercal intercourse with foreigners, that the re-
semblance between the two nations is most
strongly manifested But the people of Japan are
more enlightened, and the educated classes better
informed, with regard TO foreigners, than those
of China We believe this to be true, in the main;
but it does not, therefore, necessarily follow that
the new commercial policy will produce, immedi-
ately, revolution in the foreign trade with that
Empire. Even the trade of which the Dutch have
had the monopoly for so many years, and to pre-
serve which they have consented to subject them
selves to so many humiliations, has fallen off
considerably of late years. Nor has that be-
tween the Chinese and the japanese, improved
to any appreciable extent. Undoubtedly
an important point has been gained by the remov-
al of those commercial restrictions, which, for two
centuries had been jealousy guarded and peril
naciously maintained. But an active interchange
of commodities must not be expected to spring up
at once from the mere fact that the ports of the
Empire are thrown open to the vessels of all ma
tons. The trade has yet to be created, and the
introduction of novelties among thrifty and fru-
gal people like the japanese, is a slow process at
the best. There must moreover, be a reciprocity
Of interests If we expect to sell largely, we must
also be prepared to buy largely. If we inquire
what articles the japanese have for export we
shall find the list remarkably limited. Silks, por-
celain, and lacquered ware-these constitute the
chief commodities adapted for the American or
European market. At one time they also exported
large quantities of god silver, and "copper" and it
is possible that those metals may yet be made to
occupy prominent place in the list of e1
ports. The commodities most in demand
in Japan, are, fortunately, those which
we are best able to supply. These are-sugar,
raw and manufactured cotton, cotton yarns, wool
lens, iron, steel, lead, deer skins, quicksilver,
glass, and glass ware. So far then, the trade
prospects are more favorable to US than to any
other nation, for among the articles required are
our chief staples. We have moreover, this
further advantage: our possessions on the Pacific
are directly opposite TO Japan. An ocean steam
er, steering due West from the mouth of San
Francisco Bay, would strike the island of Nippon
within twelve days from the time of leaving the
Golden Gate. There is no reason, therefore, why
San Francisco should not become to the Pacific
what New York is to the Atlantic. With Rail-
way across the Continent we should command
nearly the whole of the carrying trade of Eastern
Asia, Japan, Australia, and the Indian Archpel-
ago. But we must beware of attempting too
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