The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-11-25
Frederick Haskin's | Atter'
To DeUelop Far East Markets

.ne man possessing 10 times maj
amount. Within recent years nv.
of the Chinese who have MIA
huge fortunes in political life ~
Invested large sums ia induss,i.s'
enterprises. Many Of the lsrsss.'
Industrial concerns and numa,"asl
banking companies are tho c,..
tons of those who have enricsss
themselves as military eoyernsssl
or other officials. These people ~,
not able to manage the busins.s
venture themselves, but en,sss,
managers, generally men who MI
been closely associated with ~
in politics"
General Increase in Prosperity. I
This indicates that a new 81
has come in China and that !, II
turning from the ancient pasio,.sI
nation it was into an industrial ma,
which will produce ever incre..i
ing wealth, the substance Of trsds
While this part of Mr.. Arnold's 81,
port gives only one side Of the MI
ture, the increase in prosperity srn.E
orally also is reported. He saws.
Less than 40 years ago the hra..
cash, a coin, 10 of which eouallsS.
l copper cent, was the coin Of tbss
realm. Today, In Eastern Chins.
that Is, In the trade centars IN IN.
tact with the outside world-thkl
brass cash is almost clrio Il!
seldom is It seen. A coin 10 tfmes
its value has replaced the cash. ~;
dicating the increasing PURCHASING
power of the masses"
Purchasing power among m.
masses is what constitutes a mar!
ket and MIR. Arnold's report show,
that the vast nation of 45O,O00 oOSs
Cinnamon now have that. He alsa
points out that the last quarter n !.
a century has just been an awaken.
ing. The next 25 years, in hi
opinion, will see a much greatei
increase in prosperity and a muk
duplication of the purchasing power
of the people. At this rate, in Il
short time, China may become IL
great market as Europe ever was,
and perhaps greater. 81
The introduction of American
and British capital and skill in the
Orient has brought about the estab-
lishment of some substantial man.
ufacturing concerns, but for many
years China's chief wealth must be
in raw materials and natural re-
sources which are almost limitless.
This means that while she will have
wealth to command a great variety
of goods, she will not have native
skill to produce them. Such a sit.
uation is precisely the proper sort
of an opportunity for the Americai
exporter. America gladly will Ell.
change her skillfully manufactured
goods for the native wealth Of
China. Both peoples will profit BY
the exchange and the United States
will have great new customer
which perhaps will be of more i'm,
portance to us than any country Of
Europe or even all Europe put to-
gether.
Every aspect of the situation y
being studied by government trade
experts and this winter it is ex-
pected some important reports will
be submitted and possibly legis'a'
ton will be offered looking to facills
tating trade. During the last SEES.
siop of congress one step was made
in the enactment Of the Dyer China
Trade act. This provides for the
American incorporation of COM
panies doing business in China
Heretofore, there was no way open
for Americans, doing business there.
to obtain American charters and
many of them were compelled to
take out British charters.
An effort is to be made to give
American traders in China certain
exemptions from taxation wfiea
will encourage them to develop the
market. fs
1t will be remembered that in the
early days of our foreign trading.
the New England sailing masters
took their ships out to China with
cargoes of miscellaneous manufac'
lures and brought back rich silks,
tea and many another commodity.
When the fast sailing clipper ship
was developed, the China voyage
was made from Boston, New Bed-
ford, Salem, New York, Philadelphia
and Baltimore in so short space
of time that the sea-faring worid
gasped. In those days, the SHIPS
sailed across the Atlantic ana
around the Cape of Good Hope
Now the American China trade VIII
move from the Atlantic coast
through the Panama Canal and d.
rect across the Pacific from west
coast ports.