The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-01-23

sources, is watched with certain anxiety.
1t is observed that in every year the
value of the imports has exceeded that OF
exports and for the period of lSs6-sS the
excess of imports over exports Is f,V2S-
679 haikwan taels, an annual average of
about $4,000. 600 taels. These figures have
given rise in some quarters to the strange
belief that China is being gradually denud-
ed of silver 10 pay for the balance and II
has even been gravely stated that the
country is approaching bankruptcy 1t Is
pointed out that China has not only to pay
for her imports, but has also to find funds
to meet remittances abroad for the ser
vice Of loans for the purchase of waS ma
terial and for the support of legauons,
etc. The depressing picture thus present.
ed to the Imagination has tendency to
destroy credit and prevents many people
from investing in China's securities, ana
il NAV be well to show that as far as can
be ascertained. the position is one that
need cause no anxiety. 1t must be eN-
blamed that the figures of imports and eN-
ports represent the value of goods on the
Chinese market: that is to say, in the case
of imports the value after they have PAID
duty TO the government and profit to the
Chinese buyer; and in the case of exports,
the value on the market before they have
been sold TO the foreign buyer and paid
axnort duty. The figures for 1898
reduced to the value OF imports
AZ the moment of landing, and the value
of the exports at the moment of shipment,
the moment when balance may be Iair-
lv struck show. instead of an excess OF
imnorts amounting to 50,5f2,000 haikwan
taels. an excess of only 7,32l,OD taels But
we must also take into account the value
of gold exported gold in emma being SIM
plv a commodity amounting to 1fS,S4S
haikWan taels and the Fdtl'e Oh the Tea
sent, to Siberia and Russia via the Han
we have an excess of exports over inn
ports of ,754,7 1888 haikwan taels. Further
IL must be remembered that the hgures
which come under the cognizance of the
Customs do not represen>the Whoie Of
China's foreign trade There is a JUNK
traffic to Korea and the South OF winch
we have no statistics, but which IS GER
tainlv profitable, and a considerable trade
with Mongolia and Thibet The large In
come derived from The expenditure oil
foreign vessels for provisions and other
necessaries must not be forgotten and the
sums which are RENTED or brought back
bv emigrants probably reach a total
which would be surprising were figures
available. it having been stated APPARENT
Nv upon good authority, that the remit
tances from California alone amount to
SO 100000 or $4,000, 900 of gold dollars annu-
ally In the absence of definite informa-
tion The above considera tons can only be
nut forward as presumptive evidence that
the nation is well able to pay its way; bur
the proof is to be found i'm the fact that
the government remittance 10 Europe for
the service of loans amounting during
1898 to nearly 100000 taels are made
through foreign banks by the medium Of
bills Of exchange against exports. SO far
from silver being exported abroad, there
was a net import during the year of A.,
722. OPS haikwan taels, and information
from all parts of the country points to no
scarcity of silver. while the general course
of silver prices indicates chat the metal
is plentiful II may be confidently assert
ed that China meets the whole of her OH
LEGATIONS without any depletion of her cur
rency; and that the Chinese buy no i'm
ports except such as can be obtained in
exchange for exports No doubt the gov.
eminent is hard pressed for funds. but the
country grows Weather every year"
The following table taken from the Of
dcial reports of the Chinese government
shows the total imports into China and
the amount from the United States at de-
cennial periods since 1858, stated in -haik-
wan taels, the value of the tael being In
1868 s1.55 in 1878 $1.37, in 1888 $1.15, and in
1898 50 cents.
Imports Into China
Year Total Impts. Imp'ts p. C. from