Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1913-07-14
COMMERCIAL NOTES

A recent sconsul report devotes con-
siderable space to the conditions in
China, particularly the currency sit
uation following the birth of the new
republic, and also the expectation OF
rice for the year, which is shown to
be more than $4,000 tons in excess OF
that of 1912 from Saigon alone.
Though the report is concerned most
ly with Hongkong, and is written by
Consul General George Anderson of
that city, it throws some light on
China in general and is reproduce
here in part:
While the discount between the pa
per currency issued by the provin-
ciaI government at Canton and the
corresponding silver coinage remains
about the same as it has been for the
past year, there has been a great i'm
provement in the disposition of the
people of the Province toward the
paper money, and it circulates much
more freely to the immense convent
ence of trade in the Hongkong field.
The provincial mint is turning out
about $S0,090 in subsidiary silver
coins (about $3S,500 gold daily at
present, which are received at the
current discount of from to 9 per
cent as compared with the cores
ponding silver dollar, while the Gov
eminent makes a considerable profit
in seignorage. These coins are used
in the redemption of paper currency
presented for redemption so far as
they will go, and for the present there
appears to be general feeling of ac-
quiescence in the idea that the PEG.
pie of the Province will have to &C.
cept paper money for some time, to
come. The Government has been able
to buy considerable silver bullion
with its own paper money at advan-
tageous rates. While the situation is
far from being without difficulty it is
vastly improved. One of the direct
results Of this improvement is more
constant and an increasing movement
of native goods to export points and
a gradual loosening OF credits in
Hongkong for the shipment of goods
to the interior.
Rice Trade-MaiI via Siberia.
Rice exports from Saigon during the
season up to April 1 amounted to
203,023 tons, as compared with 1885,
325 tons in the same period of last
year, the prices during the current
year averaging about 25 per cent be.
low those of year ago. There has
been general easingso f the strain
ed rice situation in southeast Asia,
which has existed for the past two
years with greater or less tension.
A daily mail service was establish.
ed over the tTientsin-Pukow railway on
May l, thus increasing the facilities
of mail from Shanghai and points
south with Europe and the United
States by way of Siberia :.-.:.
Cement Trade-cotton Gocss. -.
The concentrating industry Of
Hongkong, including factories of the
Hongkong concern at Canton and Ma.
Gao, had an unfayorable year in 1912,
the chief reason being the difficulty
of securing supplies of limestone from
the interior OF China, whence most
of the supply of this material has al
ways been: obtained Keen competi-
ton also has had considerable to do
with the results Of the years work
ing. ~
Importers of foreign cotton goods
in Hongkong report the smallest de-
mand and slowest trade so far this
year for their line Of goods IN South
China which has existed for many
years No definite reason for the sit
uation is offered in explanation. but
the general tendency of exchange to
decline and the general uncertainty
as TO the future, politically as well as
otherwise, probably account for the
depression. r.