The evening times., 1900-01-12

The latest official report upon the for
eign commerce Of China, showing imports
and exports by countries. and articles, and
the growth Of commerce during a term Of
years. which has been received by the
Treasury Bureau of Statistics. presents
much information especially interesting 70
the public at the present moment.
II SLOWS that the imports into China.
which in 1865 were 64.3f3OO0 haikwan
taels. in 1878. 73lSS.OOO. and in 1888. 1876
$4,000 taels. were in 1898. PCS. SIS. 600
hailwan taels: while the exports from
China which IN 1853 were Gl. .S26. 600 haik-
wan taels. in 1873. 67.172. eco, and in 1855,
81. .4O1. 800. were in 1898. 159 .O37, 600 haikwan
taels. The imports from the United States,
which in 1868 were az. 900 haikWan taels,
had grown to 2.253. geo IN 1873. 3.146. .0CO
in 1883. and l7.163.312 in 1898. while the
exports TO the United States. which ia
1858 were 6.S9l.OO0 haiky an taels, were
in 1878. 6.576.000. In 1855. S.963 GOO. and in
1898, II .ySI. 700 haikwan taels
Discussing the foreign trade OF China.
the report says: 80 much foreign capital
has been lately invested IN China that the
condition Of the external trade Of the eoun-
Try, as an index tS the national resources.
observed that in every year the value OF
the imports has exceeded that OF exports
and for the period 1SS6-sS the excess OF
imports over exports IS 437 .O27 679 haikwan
taels. an annual average Of about 81 900, -
600 taels.
These figures have given rise In some
quarters 10 the strange belief that China
is being gradually denuded Of silver to pay
for the balance. and it has even teen grave
T. d.
ing bankruptcy. II is pointed out that
China has not only 20 pay for her i'm
ports. but has also to find funds 20 meet
remittances abroad for the service OF loans.
for the purchase Of war material. and for
the support Of legations. etc. The de-
pressing picture thus presented 10 the i'm
agination has a tendency 10 destroy credit
and prevents many people from investing in
China's securities. and il may be well to
show that as far as can be ascertaiued. the
position is one that need cause no anxiety.
1T must be explained that the figures Of
imports and exports represent the value Of
goods on the Chinese market; that is 10
say in the case Of imports. the value after
they have paid duty TO the Government
and a profit to the Chinese buyer; and in
the case OF exports. the value on the mar
ket before they have been sold to the
foreign buyer and paid export duty. The
figures for 1895 reduced TO the value OF i'm
ports al the moment of landing. and the
value OF the exports at the moment OF
shipment. the moment when a balance may
be fairly struck. show. instead OF an ex-
cess Of imports amounting to 5O.542.0O0
haillWan taels. an excess Cf only 9.32l. 600
taeIs.
But We must also take into account the
value Of gold exported (gold in China being
simply a commodity amounting to 7-103.-
S43 haikwan taels and the value o. the tea
sent TO Siberia and Russia via the Han
River valued at l.372.Gs9 taels and thus
We have an excess Of exports over imports
Of 1754.7sS haikwan taels. Further IL
must be remembered that the figures which
corIe under the coguizance Of the customs
do not represent the whole Of Chinas
foreign trade.
There is a junk traffic 70 Korea aud the
south II which we have no statistics. but
which is certainly profitable and a con-
siderable trade with Mongolia and Tibet.
The large income derived from the Cx-
penditure Of foreign vessels for provisions
and other necCssaries must not be forgot
ten and the sums which are remittcd or
brought back by emigrants probably reach
a total which would be surprising were
figures available. IL having been stated
apparently upon good authority. that the
remIttanCes from California alone amount
TO ten OF twelve millions OF gold dollars
annually
In the absence OF definite Information
the above considerations can only be put
forward as presumptive evidence that the
nation is well able 20 pay its way, but the
proof Is TO be found in the fact that the
government remittances 20 Europe Tor the
service Of loans. amounting during 1898 10
nearly $4,000. coo taels. are made through
exchange against exports. So far from sill
Yer being exported abroad, there was a net
import during the year OF 4.I22.0 .025 haik-
wan taels. and Information from all parts
Of the country points TO no scarcity Of sill
yer, while the general course Of silver
prices indicates that the metal is plentiful.
1T may be confidently asserted that
China meets the whole OF her obligations
without any depletion of her currency. and
that the Chinese buy 70 imports except
such as can be obtained in exchange fer
exports. No doubt the government is hard
pressed for funds, but the country grows
Weather every year"
The following table taken from the OIL
shows the total imports into China and the
amount from the United States at decen-
Mai periods since 1865. stated in haikwan
taels the value of the taeI being in 1863
S155; in 1873. $l.37; in 1883. $L15. and in
1898. 90 cents.
Year, Total Imp'z- ImP's from Pct; from
l. Is
Hlikwan taels. UaikWan taelS.