The Providence news. (Providence [R.I.]) 1891-1906, 1903-05-23

Nhhiese onCidl returns SHOW inst inv
Imports from the United States In 1se2
amounted to 80. i3s.7l3 taels. against 23.
52s,606 taels I'm 1901. 92.2ss.7i5 taels in
1899. l2.ifo,302 taels in 1897. and 5.o93. 49,
taels In 1890. The total for 1902 is the
largest in the history OF commerce be-
tween China and the United States. and
Is six times as much as In 1895. 2h times
as much as In 1877. about 35 per cent.
more than In 1899. and nearly 30 per
cent larger than I'm 1901.
Cotton goods. Kerosene oil and -four
continue To form the chief imports from
the Uaited States. The importa tions Of
American jeans in 1902 amounted TO
s29,4e2 haikwan taes against PAL. 22s taels
In 1901: American drills. 6024.443 taels.
against 4S34,s79 taels In 1901: American
sheetings 1870. sos taels. against :. T.s3e, ia
taels In 1901: while American kerosene
oil shows a reduction amounting TO 46. =
2S7,s07 gallons I'm 1902. against 57.75967T
gallons I'm 1901 The decrease I'm Chinese
imports OF oil. however In general the
total having fallen from 1870 millions I'm
1901 TO 30 millions In 1902. That from
Russia fell from 80 million gallons In 1901
to 10 million gallons in 1902 and that from
Sumatra from 4oha millions in 1901 10 s3x
slight decrease. the total value imported
I'm 1902 being 3.st4.3i9 hsikwan taels.
against 4.726.962 in 1901 Ginseng, which
comes chiefly from the United States.
shows an increase. being In 1902 l,614. .9ss
haikwan taels. against 1,1s1. .536 taels in
1901 The average value OF the haikwau
tael In 1902 is given by the report at SO
cents, American gold
Statistical Secretary Taylor, who pre-
- Ars H.. - H..
statement: The value OF cotton goods
of' all kinds imported was estimated at
l21545.30a haikwan taels. as compared
with 1851. 500 taels during 1901. Cloths
OF all kinds advanced. especially indian
which rose from 1890 to 120. .ts5 pieces
There was a good demand for drills and
English jeans made the astonishing ad-
vance from 4l,0s3 TO 36o.S5s pieces. while
Dutch and American about doubled
Sheetings also found an increased inquiry.
the American trade going ahead as usual
IL Is interesting TO note. and is not with
out significance. that Japanese drills rose
from 2s pieces to 1880 pieces. and Japan
ese sheetings from 1905 to 1896 pieces.
English cotton yarn continued it's down
ward course and has now fallen 10 32.35l
piculs while Indian has reached 1885,. .0Ss
piculs. and Japanese. 522. .40s piculs. Kero-
sene oil. with the exception Of that from
Borneo. shows decreases. Russian oil hav-
ing fallen to i0.i05. CSC gallons from 81
4s6,070 gallons thus losing the ground
gained during the last ten years.
Commenting upon the general condition
OF trade. Statistical Secretary Taylor
says: Three noteworthy events took
place during the year; the negotiation OF
new British commercial treaty, the re-
vision OF the import tariff, and heavy
fall in exchange. OF these the last may
rka tar
in. owing to the fall in exchange and the
rise in silver prices since the years 1897.
ls9s and 1899 has left the incidence of
taxation very much as before. But the
collapse In exchange which viii call for
higher currency prices for new cargo,
with the uncertainty OF its future move
ments. naturally disturbs the import
trade: while by augmenting the amount
which the government has TO find to pay
its gold obliga tons, IL has led to heavier
internal taxation.
The pessimstic views expressed in some
quarters regarding the commercial sol
vency OF the country. based upon the de-
mand OF the government to pay the in
demnity in gold. are without any solid
foundation. The foreign trade of China is
trifiing when the size and potential re-
sources Of the country are considered.
and only a very small adjustment be-
tween imports and exports Is necessary
10 cover lne ldte increase OF lllutpttuIltsS
At the same time. IL Is disappointing TO
note that trade always seems to be the
first victim when heavier taxation is de-
cided upon
What the foreign trade of China might
be is shown by comparison with Japan,
which with population OF less than one
seventh, spends almost exactly as much
as China on foreign goods But before
such expansion can be looked for domes-
tic trade must be relieved from the taxa
tion OF goods In transit. local industries
must he assisted instead OF being ham,
pered by excise and by taxes on raw ma
terials. and the enormous resources of the
country must be developed. Meanwhile
trade is slowly growing. and will continue
to grow I'm spite OF artificial distractions.
The commercial solvency Of the coun-
try however, is one thing and the flnan-
cial sovency OF the government another;
and there Is no doubt that great diff
Guilty Is experienced under the present de-
fective fiscal system I'm collecting the ad-
ditional revenue required In consequence
OF closer contact with western nations.
Reform in this direction is urgently need