The herald., 1896-09-18
Local, Eastern and Foreign
Commercial Dealings
WALL STREET SPECULATION
The Prospective Growth Of Oriental
Trade
Minister Barnett Gives Interesting
Views Of It's Posibilities-The Anglo
Sicilian Sulphur Trust.

LAS L lutlIildleu before, III making the
trip strove to study the new conditions
of labor and manufactures in China and
Japan, and to Judge for myself Of the
effects this new competition was going
to have on American and European
markets. Since have been stationed in
the east (now about two years. have
been strongly impressed with the opin-
ion that during the next twenty-five or
fifty years, this coast, from Vladivostock
to Singapore, is to be the center of great
events. It is going to make the major
portion of the worlds history, too, dur
ing that period. with it's 400, 100000 or
500,000,000 of people and it's wonderful
resources, opportunities and Importance
Of position. These eastern nations are
destined to become stronger in the flu
ture. The Pacific ocean, with it's steadily
developing nations on either side, is sure
to be the chief seat of the worlds COM
merce in the not too distant future. Just
think of 1t! In the north is Siberia, which
we have been accustomed to think of as
vast Wilderness but which in reality
is vastly wealthy and rapidly being de-
veloped; north China, with it's millions
OF people and rich mineral resources, is
as yet little exploited by foreign inter-
ests. The vast provinces and untold
millions of central and south China are
in almost the same plight. Japan, with
a population nearly the same as that of
Great Britain, needs no comment. Slam
has greater wealth in agriculture, tim
Der and minerals than is commonly sup
posed, and Is now gradually being open
ed up with railways and new water
ways, although not as fast as could be
desired. Further south and to the south
east you find the Straits settlements,
Java and Borneo, all having resources
that invite the best efforts. The wealth
of the Philippines Is perhaps partial
measure of what FormOsa can, under the
new regime, promise. Then look at
Australia. which Is in about the same
state of material development as Amer
lea was fifty years ago, and is advance
ing almost as rapidly. The islands Of
Australasia are going to play more i'm
portant role in commerce as time goes
on. Then glance at Western South
America Chile is the most energetic of
the South American countries, and is
developing rapidly. Peru and Bolivia are
also coming forward, and when their
governments become stable they will
CONTEST for the lead in that part of the
world. Ecuador has vast mineral re-
sources, and Columbia, has both agri-
cultural and mineral wealth. The Cen
trail American states are fast coming to
| understand her opportunities and re-
sources as a nation bordering on the Pa
| cific ocean, North of the Pacific coast the
| states of California, Oregon and WASH
ington-which I hold to be the richest
| portion of the United States-you find
British Columbia and Alaska, both of
which are going to be great trade fac
| tors in the next decade. From this brief
| survey you can readily see that there
| is bound to be wonderful development
| in this region in the near future. l have
| been endeavoring, and shall continue to
| endeavor, to awaken the commercial
men of the United States to an apprecia-
| ton of this development and to the
| need of grasping the openings presented
| now, SO as to be in position to have
| their proper share in the trade of the fu-
| ture. I frakly admit that greatly ad-
mire Great Britain's commercial policy,
which has enabled and Is enabling her
| to control so vast a proportion of trade
| of the world. I am striving to induce
| Americans to take as nearly the same
| position commercially as they can. This
cannot be done in a day or year, but
| hope yet to see the results of my efforts.
Shanghai, in my opinion may be the
great manufacturing center of the far
| east-in time. But first the conditions
must be changed so that capitalists will
have more security that their invest
| nents will not be thrown away.At pres
| ent there is too much uncertainty to
permit of proper development. Situated
at the mouth of the great Yangize, and
the natural distributing center for the
whole of central and north China, it Is
naturally the point at which the greatest
| development should take place in China.
There Is always danger from booming.
If Shanghai proceeds on line that is at
| once conservative and energetic, and
does not try to overdo her splendid
onportl1pitiaS her flltllra nrOsneritV g
assured"
The effect of the Anglo Sicilian Sui
phur trust, which has been formed by
Italian, French and English capitalists.
with capital stock of E1,000,000, has
already been felt in the New York mar.
ket. There has been rise in prices,
and the refiners have begun to cut the
discounts which they allow the jobbers
One of the largest sulphur refining firms
in the country has been obliged to pay
an advance of about 81 ton on goods
lately bought A man connected with
the firm said yesterday: The producers
are selling their birthstone to the capt.
talists at about SIG a ton now, and the
trust sends it here through Sicilian COM
| mission merchants, the freight and ex-
port duty bringing it up to about $40
ton. We do not call that high price.
The London Grocer estimates the
Greek currant crop at $50. 900 tons against
Ut 900 last year, and looks Tor higher
prices than were then realized. The
crop of Valencia raisins is estimated to
be 20 per cent less than that of last year,
but of good quality,
The Cigar Makers International JIE-
ions last annual report shows that the
sum Of $43S, 1865 was paid out in 1895, and
that since 1879 nearly 100000 in bene-
fits has been contributed. Last year
| $44, 039 was paid out for strikes, $112, 567
for sick benefits. $66.725 for death bene-
fits, SAL, 657 for travelling benefits and
/ S166, 377 for out Of work benefits. In the
3S1 locals there are 27,760 members.
Consul General Mills, at Honolulu, sup
plementing a former report calling at
tention to the diversion of Hawaiian
trade from San Francisco to New York,
writes to the department under date of
August 18th that during the six months
ending June 18th the total exports from
Honolulu to the United States were val
ued at $8,748, $780, 40, against $4,5427S1.
ued at $S,74S, $40, against $4,499916.2
for the corresponding period last year, an
increase Of nearly $4.000000. OF this to-
tai $S,542, 7S1.64 represents the value of
sugar sent to America, $2.457, 532 of it
going around the Horn to New York,
except q small cargo which went to
Boston. Already during the present
calendar year the direct shipments to
New York have amounted to 81, 046. 36849.
The aggregate loans and discounts of
the national banks July 18th were, in
round numbers, $1,959, 100000. Com
pared with lastVear's statement of July
18th this showing proves to be dtsap-
10 hon nh 10 MA