Omaha daily bee., 1895-05-18
FIELD WE'LL woRrH cUffIvArrSe
Far East Now the Most Promising One for
American Enterprisr.

American Enterpris~.
WASHINGTON, May 17-Consul General
Jernigan at Shanghai, China, devotes some
space in report upon the foreign trade Of
China to a quotation from the report Of 1894
Of Mr. Kopsch Of the imperial Chinese GUS
toms service. The latter says that there is
no indication OF recovery from the retrograde
movement in the staple articles Of import
from gold standard countries. This he as
cribed to the appreciation Of gold enhancing
prices and curtailing demand, which also
characterized the trade Of 1893. OF the ex-
port trade Mr.. Kopsch said:
''Steadier but lower exchange benefited ex-
ports and enabled shippers Of Indian produce
to lay 1t down in gold standard countries at
unparalleled low cost. Several articles now
find market abroad which did not formerly
leave China, and the present high price paid
for gold bars entities that commodity to rank
after tea and silk in aggregate value Of any
article enumerated in the table of exports"
Commenting upon this, Mr. Jernigan says:
1t certainly can not be expected that the
consumption Of foreign fabrics win attain to
the level recorded when the exchange was
high, unless the gold value of silver i'm
proves and tael prices are thereby reduced t.
rates within the means Of eastern consumers.
II is true that the imports show an increased
value OF 10,740 taels over 1899, but in a great
measure the value Of these was enhanced by
tne Iurlner appreciation OF ROld..'
Mr.. Kopsch is quoted upon the subject Of
importation of piece goods, in which he says
the exports advanced insignfficantly, but not
sufficiently to show "that the falling off
caused by the appreciation Of gold had been
arrested" iN
Other reports show that the sale Of Man
chester goods has been restricted though
the demand for supplies has created a slight
abnormal demand.
The North China Daily News, an English
journal, commenting upon the report Of Mr..
Kopsch, says the export trade in all
sterling exchange, and that under existing
conditions there Is every prospect that
Chinese wool, when improved In quality
may become formidable rival to the Austria
lian product, as the wool growing resources
of China are still undeveloped, and with sill
yer at the present price China would defy
competition from all gold standard coun-
tries"
Continuing, the News speaks of the tea
trade, saying that 1t has proved very re-
munerative, for though higher price has
had to be paid here than in 1893, the fall
in exchange covered this, and as there was
no corresponding fall in gold prices in Eng
land and the United States the trade in
China reaped the benefit"
Speaking Of other exports the News says
there has been an increase in raw white silk
falling off in yellow silk while that of
refuse silk surpassed all records. Straw
braid trade continues to expand. Exports
In other directions have increased. The
value Of the gold exports amounted to IL, 744,-
900 taels equivalent to e. 2,044,025 which is
far in excess Of the previous year, due to the
disposal of gold holdings, which the high
price leads the holders to dispose Of. The
import Of silver bullion was 81 ,120, 900 taels,
against 20, ,6s7 900 taels in 1893.
Reverting to particular ports, Mr.. Jernk
gan comments upon the effect of the war
upon Chinese trade. 1t appears that the
Chinese flag has practically disappeared from
the port Of Shanghai, many vessels Of the
Chinese merchant feet being transferred to
foreign flag. The number or ships have
immaterially decreased, but the tonnage has
slightly increased. The expectation Of gold
has decreased, but large amount of silver
bullion remains in port supposed to be the
result of war loans and subSdfes. The same
general conditions in trade appear at other
ports, but only foreign ships enter Tien
Tsin. There has beena decline at the ports
OF Formosa There was an increase OF inn
ports at southern ports.
Mr.. Jernigan closes his report by urging
closer and more favorable trade relations be-
tween China and the United States. He
speaks of the favorable impression which
the six modern war vessels flying the United
States flag in Chinese waters has produced
and American residents have felt secure
He comments upon the fact that in China
and Japan there is not published single
journal under American influence, while the
leading journals are under British influence
and advocate British interests. He adds
that newspapers under American influence
could do much good. He suggests paper of
this kind at both Yokohama and Shanghai.