Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-11-28
The HQskin Letter :
BIZ gRE &
J. HASKiN
TO DEVELOP FAR EAST MARKET

t~iuction is given to the man possessing
IL times that amount. Within recent
wears man of the Chinese who have
niled up huge fortunes IN political me
have invested large sums in industrial
enterprises. Many Of the largest in
dustriaI concerns and numerous n
ing companies are the creations OF
those who have enriched themselves
as military governors or other OIL
Gals These people are not able to
manage the business ventures them
selves. but engage managers, generally
men who have been closly associated
with them in politics"
General Increase in Prosperity
This indicates that a new era has
come in China and that it is turning
| from the ancient pastoral nation 1t was
| into an industrial hive which will pro-
duce ever increasing wealth. the sub
! stance of trade. While this part of
Mr.. Arnold's report gives only one
| side of the picture, the increase IN
prosperity generally also is reported.
He says:
LESS than 40 years ago the brass
cash. a coin, 10 of which equalled one
conper cent. was the coin of the realm.
Today. in eastern China-that is, in
fine trade centers in contact with the
outside world-the brass cash is almost
q curio. so seldom is it seen. A coin
10 times it's value has replaced the
cash. indicating the increasing purc1as-
ing power of the masses"
Purchasing power among the masses
is what constitutes q market n Mr.
Arnold's report shows that the vast
nation of 100000 Cinnamon now
have that. He also points out that the
last quarter of q century has just
been an awakening. The lex % years
in his opinion, will see a much greater
increase in prosperity and a multipli
cation Of the purchasing power of tbs
people. At this rate, in a short time
China may become as great II marke1
as Europe ever was, and perhaps
greater.
The introduction of American ant
British capital and skill in the OrienI
has brought about the establishment
of some substantial manufacturing
concerns. but for many years China:
chief wealth must be in raw materia
resources which are almost limitless
This means that while she will have
wealth to command a great variety o
goods, she will not have native skill
10 produce them. Such a situation il
precisely the proper sort of an OPP
%portunity for the American exporter
America gladly will exchange her skill
fully manufactured goods for TIL
native wealth of China. Both people
will profit by the exchange and tn,
United States will have q great nep
customer which perhaps will be o
more importance to us than any coun
try of Europe or even all Europe pu
together.
Every aspect of the situation is be
ing studied by government trade OK
perts and this winter it is expectet
some important reports viii be sub
mitted and possibly legislation will b.
offered looking to Facilitating trade
During the last session Of congress on
step was made in the enactment o
the Dyer China trade act. This pro
vidfs for the American incorporation
Of companies doing business in China
Heretofore. there was no way opel
for Americans. doing business there. L
obtain American charters and many o
them we're compelled to take out Brit
ish charters.
An effort is to be made to Civ
American traders in China certain ex
emptions from taxation which will en
courage them 10 neFeIop me itaFtei
1t will be remembered that IN tn
early days Of our foreign trading, til
New England sailing masters took thei
ships out to China with cargoes If mis-
c~ellaneous manufacturers and brough
back rich silks. tea and many anoihc
commodity. When the fast Sailin
clipper ship was developed, the Chin
voyage was made from Boston Me-
d, Bedford. Salem. New York. Philade.
:, phia and Baltimore Id SO short d spac
{ of time that the sea-faring worl
gasped. In those days, the ships sale
across the Atlantic and around th
, Cape Of Good Hope. Now the Amer
lean China trade viii move from til
J Atlantic coast through the Panam
: canal and direct across the pacifl
: from west coast ports.