The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1910-12-06
JAPANESE TRADE
TURNING TO ASIA

Bradstreet's commercial journal of
November 10 sets forth the remarka-
BILE fact that Japanese trade is being
rapidly and systematically withdrawn
from America and European coun-
tries and is now going to Asia OF the
matter the report says:
Official returns of the foreign com.
merce of Japan during the eight
, months ending with August, 1919,
compared with the corresponding pc
riod of earlier years, show that i'm
ports from Europe decreased from
S64,000,000 in 1908 to S54, 900 900 in
1910, and those from America (chief-
ly the United States) from S31 ,O0O,-
600 to $17,000,OOO, while imports from
Asia increased from s62,OOO.OOO 10
| $7S,000,000. In other words. during
the period under consideration Eur
opean merchandise showed loss Of
Is per cent, American products a loss
of 43 per cent and Asiatic products
a gain of 81 per cent, the decrease in
the total imports being only 3 1-3 per
cent The share which Asiatic mer-
chandise forms of the total imports
of that country has risen from less
| than 40 per cent in 1908 to over 80
per cent in 1910, while Europe's share
has fallen from 40 per cent in 1908
to 80 per cent in 1910. and that of
America from 10 ner cent in 1908 to
II per cent in 1910.
British India leads all other coun-
tries in the value Of its imports into
Japan, being credited in the eight
months review with S45,00O,000,
against $32,OOO,OOO from Great Brit
ain, $4,000, 900 from the United States
$16,000,000 from China and $4,000
600 from Germany. These figures re-
present in each case, save that of
India, a decrease when compared with
those of like period of 1908. This
increase in the 1910 importations from
India occurred chiefly in raw cotton,
due largely to the high price of cot
ton in the United States. Japan us
ually draws largely upon the United
States for raw cotton, though in those
years in which prices of American
cotton are exceptionally high, the
shorter stapled and lower priced cot
ton of India is used. The raw cotton
imported into Japan from India in
1910 was valued at $44,O00O0O, against
$1700O,000 in the same months Of
1908, while that from the United
States decreased from s11 900 900 in
1908 to only $5,00O,0OO in 1910. Thus
the quantity of cotton drawn from In
dia more than doubled, while that
from the United States fell off more
than one-half. Concurrently with ia
pans increased imports of raw cot
fon have occurred decreased imports
of cotton goods, the loss falling chief
ly on Great Britain
Exports from Japan in 1910 show
a general increase compared with the
like period of 1908 or 1909 having
been this year $142,O00,00O, against
$126,000,O0O in 1909 and $4,000, 900
in 1908. Asia's takings increased from
$59,OOO,OOO in 1908 TO $62 100000 in
1910, Europe's from $z5 100000 to $33-
100000, and Americas Chiefly the
United States) from $3S,0OO,OOO 10
$42, 100000. The principal export to
the United States in the eight months
of 1910 was raw silk, to the value of
$24,25O,OOO.
QSMSSMSH=nSHERSESASZ&1SXu
some of our first class shares is be-
ing considered.
"A development of considerable inn
portance is the changed drift in our
foreign trade, exports continuing to
expand, while imports corresponding
ly decrease, thus tending to restora-
ton Of the normal excess of exports.
In October our exports of merchan-
disc aggregated $2OS, 900, 900, the lar
gest October on record, and more than
100000 in excess of last year. This
increase was largely due 20 the rush
ing forward of cotton pending the bill
of lading dispute. During the same
month our importations were below
1924 100000, a loss OF nearly $4,000
600 compared with year ago. De-
clining prices and lessened trade ac-
tiyity, Of course, explain the shrink
age in imports. The net result Of
our exports amounting to $S4,O0O,OO
compared with $7S,OOO,OOO year ago
and $7O,OOO,OOO in 1908. This tenden-
cy, If continued, will rapidly restore
our foreign trade relations to a nor
NAL basis and make imports of gold
possible at the customary season.
Should EurODe buy our securities