The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1918-07-04
Far Easter,
Com m cree

Xar found market only in Europe
end that in 1917 our imports from :
China. exclusive Of the leased terri
tory, ssaehsd : total Of siss.ios.oao
er rather more than three times thsl,
value Of our exports to Chine. The
customs receipts for the year were
IN. Tie ss.l7s.ooo. equivalent at
|the average rate Of exchange u d
|iii1S ever s4l.ooo.ooo a. against |
10 collection for the previous year |
Of Hk. lis. s7.7sl.ooo. watch equal |
/ cd 1t the average rate ssf exchange |
Tor 1915 about ssl.ooo.ooo.
The violence Of the fluctuations Of
the price Of silver In 1917 was be-
yond all precedent. During the year
the quotation ranged from IS 11-1sd,
in March to SD in September a var
iation Of 10 sled per ounce. At
the highest rate the silver content
Of the rupee in India (of the dollar
in the Straits Settlements. and of
the yen in Japan was in excess OF
the party Of the gold exchange stand
lard Of these countries. That il to
say, It would have paid to melt tho
coins and sell them a. bullion. The
required legislative action to prohib-
lit the export Of silver was. however
, | generally taken. and the immediate
danger was thus averted. But the
fall In the price Of silver was even
| more rapid and sensational than the
rise, and from September Is. when
, 1.-The highest point was reached, the
price fell Cd in four days. The year
lclosed with Q quotation Of 42hd.
1.-The Chinese exchanges necessarily
followed, though at some little inter
!. |val, the cratic and uncertain fluc'
ltuations In silver. and some difhcul
!. lty was experienced in maintaining
4 the fixed basis for Indian exchange
, namely. is 4s1-33d. On the whole
!. however. Indian trade was very 80
!. tive during the year. and high pric
. lee we're obtained for exports. accom-
I. panied BY the absorption Of rupee
a lon An unusually large scale. TIT
/. foreign trade Of Japanu for 1871
exceeded oil previous records, show
- ling an excess Of exports over i'm
!. ports Of yen 6ss.s2s.ooo. or yeI
more than In the prev
4. Iious year. The exact figures wer
N yen 1.sss.7so.o00 and imports. ye
}; I1.093.s67,000 being increases Of I
9. |per cent and 81 per cent respective
3 lily, while the combined figures sho'
h Ian expansion Of 20 per cent or ye
q. i7st,000,000. One Of the results ha
In !bssA a. extraordinary decrease !
to the amount Of secie at tho dispose
L. LOT Japan. which now amounts to ye
D. 1870. 000. 900. or yen 411.0o0,oo
d, greater than Q year ago. About ha
he Of the amount IL held at home an
II half abroad and Japan has been 81
l's abled to repay q portion Of her TO
~ leigh debt. make substantial loans
"a the Allies, and to borrow on advaI
he ltageous terms for the developmei
Til land improvement Of her railwa!
ar land other works of public utilit
Id with anything like a stable and ct
he lcient government. the commerce.
nd land financial record Of China cou
gh easily have been more brilliant thu
all even that of japan. and with the Q
lot parent advent Of moderation al
M sanity among the warning factions
to North and South China. 1t is pos
be Bile TO form the most sanguine expt
.ss tations ~ TO the progress and PR
OF perity Of that extraordinary countl
he New York Journal Of Commerce