The evening times., 1900-01-12
THE COMMERCE OF China
An Official Report Showing the lm-
ports and Exports.
The Condition of External Trade nm
Index to the National Resources.
pendifures by Foreign Vessels for
Supplies - Comparative Statistics.

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 term of
years, which has been received by the
Treasury Bureau of Statistics. presents
| much information especially interesting to
| the public at the present moment.
1t shows that the imports into China,
which in 1868 were 64,9i3,00O haikwan
| taels. in 1878. 73.1SS. 900. and in 1888, 126,-
$4,000 taels. were in 1898, 2G9, $40 900
| haikwan taels: while the exports from
China. which In 1868 were 81. .S26 900 haik-
| wan taels, in 1873. 67.172 900, and in 1888.
92, 4O1 900, were in 1898. 159. .O37 900 haikwan
| taes. The imports from the United States.
| which In 1868 were ZAP. 900 haikwan taels,
| had grown to 2.253.00 In 1878, 3.146,0t0
in 1883. and 17,163.312 In 1898, while the
exports to the United States which in
1858 were 6.S91 900 hakwan taels. were
in 1878. G.576. 900. in 1888. S.963, 900, and in
1898. 11.gST.000 haikwan taeIs.
Discussing the foreign trade OF China.
the report says: so much foreign capital
has been lately invested in China that the
condition of the external trade Of the coun-
try, as an index TO the national resources,
is watched with certain anxiety. lt 10
observed that in every year the value OF
the imports has exceeded that OF exports,
and for the period 1868 the excess of
imports over exports is 437, ,027.679 haikwan
taels an annual average Of about 3i.0OO,-
coo taels.
These figures have given rise in some
quarters 10 the strange belief that China
is being gradually denuded of silver to pay
&. ha hal ha
ly stated that the country is approach
ing bankruptcy. II is pointed out that
China has not only TO pay for her i'm
ports, but has also to find funds to 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 to the i'm
agination has a tendency to destroy credit.
and prevents many people from Investing in
China's securities. and it may be we'll to
show that as far as can be ascertained, 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 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 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 at the moment of landing. and the
value OF the exports at the moment OF
shipment the moment when balance may
be fairly struck. show, instead of an ex-
cess of imports amounting to 50.542, 600
haikYan taels, an excess Of only 1921, eco
taels.
But we must also take into account the
value of gold exported (gold in China being
simply commodity amounting to 1-I03,-
Si3 haikwan taels. and the value OF the tea
sent 10 Siberia and Russia via the Han
River. valued at 1872 099 taels. and thus
We have an excess of exports over imports
of 1.754,7gS hakwan taels. Further II
must be remembered that the figures which
come under the cognizance of the customs
do not represent the whole Of China
foreign trade
There is a junk traffic to Korea and the
south of 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 ex-
penditure Of foreign vessels for provisions
and other necessaries must not be forgot
ten. and the sums which are Temitted or
brought back by emigrants probably reach
a total which would be surprising were
figures available. it having been stated
apparently upon good authority, that the
remittances from California alone amount
to ten or 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 to pay its way; but the
proof is TO be found in the fact that the
government remittances to Europe for the
service of loans. amounting during 1898 10
nearly IS 1000 900 taels. are made through
foreign banks by the medium of bills CT
exchange against exports. So far from sill
yer being exported abroad. there was a net
import during the year of 4.122.027 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
'It may be confidently asserted that
China meets the whole of her obligations
without any depletion of her currency. and
that the Chinese buy no imports except
such as can be obtained in exchange for
exports. No doubt the government is hard
pressed for funds, but the country grows
weaIthicr every year"
The following table taken from the cfIi-
cial reports of the Chinese Government
shows the total imports into China and the
amount from the United States at decen-
NAL periods since 1868, stated in haikwan
taels, the value of the tael being in 1868
81 55; in 1873, $1.37; in 1883. $1.15, and in
1898. SO cents.
Year. Total Imp's-. ImP's from Pet; from
Haikvan taeIs Uaikwan tael-