Evening star., 1931-12-28

The trade of all countries in the Far
Eastern area fell in 1881 to even lower
levels than in the previous year, &C
cOrding to a survey made by Charles
K. MoSer, chief of the Far Eastern Sec
ton of the Commerce Department.
Division of Regional Information, made
public today.
Added to the worldwide factors OF
depression, Mr.. Moser pointed out, were
certain unique features in nearly every
country of the Far East. In view OF
the many complications, both polltlcal
and economic, centered IN this section
of the world the survey was confined
by Mr.. Moser strictly to summary OF
the striking economic features in each
country, and he made no attempt to in
dicate trends for 1882.
Floods that destroyed thousands OF
lives and rendered 30,0O0,O0O people
homeless ravaged the Yangtze Valley,
the richest region of China, the survey
showed. Civil strife and insecurity of
property In China, Mr. MoSer said,
caused a flow of silver from the interior
regions to the treaty ports, where 1t
congested and became partially respon-
sible for the unprecedentedly low value
Of silver and of consequently lowered
capacity to purchase foreign goods.
u. S. Shipments to China.
American shipments to China, Mr.
Moser said, were slightly lower than in
the preceding year, although the de-
cline was less than to any other coun-
try. Imports of raw materials from the
United States showed a considerable in
crease, while receipts for American
manufactured goods declined. Increases,
the survey showed, raw cotton, wheat,
flour, lumber and leaf tobacco, and de-
lines were recorded for kerosene, iron
and steel products, machinery, electrical
equipment, aniline dyes and automo-
biles.
According to the survey, Shanghai
continued to experience greater prosper
ity than any other section OF China,
although its trade also suffered from
the adverse factors which affected
China's general trade. Extensive build.
ing operations and expanding indus
trial developments continued to fea-
ture the settlements progress.
AS to Manchuria, Mr.. Moser said this
strife-torn section experienced good
crops, but low demand for its prod
uctS. High tax burden, manditry and
deplorable currency conditions, he eX-
planned, were additional factors that
seriously curtailed both import and ex-
port trade.
The department official said disturbed
financial conditions in Europe, depres-
sion in the United States and floods in
China, followed in the Fall of the year
by the Manchurian trouble with its
resultant boycott, and finally the de-
cline in the British pound sterling, all
reacted unfavorably on Japan's industry
and finance in 1881.
Political Changes.
Finally, in December" Mr.. Moser
continued, "the government party that
had been in power for two and one
half years and which was responsible
for removing the gold embargo in jan
uary, 1880, was forced to resign. The
new cabinet Immediately suspended the
gold standard again by placing an en-
barge on gold exports, effective Decem-
Der 13, and the yen at once fell to
around $043 This action created an
optimistic feeling in industry, where 1t
was believed that export trade would be
stimulated, employment increased and
the government Iberallzed in rendering
financial aid to industries.
Commodity prices continued in q
downward trend throughout the year
and production restrictions were main
tanned in all important industries. Prof
it's for the first six months we're above
those of the corresponding period in
1880, but less favorable returns are an
ticipated for the last half of the year.
Low prices caused returns from eX-
ports of raw silk to decline, reacting
unfavorably on agriculturists, but the
volume of exports was considerably
ahead of 1890. Silk stocks were heavy
owing to inability to dispose of the
lO9 800 bales held in storage under the
compensation law A number of the
smaller fllatures were forced to close.
Unemployment increased seriously, la
Dor disputes were more numerous and