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“...previously expressed, that, when
a certain price is exceeded, the native finds it more economical to
buy yarn and weave his own cloth. As the Statistical Secretary
points out, in 1872 yarn contributed 6 per cent, to the total value
(currency) of all cotton products imported ; in 1882 it had risen to
42 per cent., and in 1903, notwithstanding the large out-turn for
some years past of local mills, it reached no less than 52 per cent.,
valued at 8,814,820£. This discarding of cloth in favour of yarn has
been chiefly at the expense of the mills of Lancashire and the United
States, as the products of the Japanese mills are increasing their
percentages in a remarkable manner. It is alleged that this is the
result of unsound trading methods, which secure business by granting
extended credits, and of which the failure in the near future is pre-
dicted. It is more likely the outcome of a thorough and intelligent
understanding of the conditions of native trade, combined with the
energy and push of itinerant...”
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| 2 |
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“...The substantial decrease in the importation of raw cotton would Raw cotton,
seem to prove that the unnatural causes, which compelled mills in
the centre of a large cotton-growing country to look to India for part
of their raw material, are ceasing to operate.
The value of imported flour has declined by one-fourth, and, Flour,
there having been no appreciable change in price in the course of the
year, this must be indicative of a corresponding decrease in quantity
of, say, 304,000 cwts. The difference has no doubt been made good
by the output of mills grinding Chinese wheat, as the four Shanghai
mills alone have a daily output of about 5,000 sacks, and ship to
the north some 50,000 to 60,000 sacks per month (at the rate of about
270,000 cwts. per annum), and the Wuhu mill exported 12,000 cwts.
A demand from Japan and the requirements of the newly started
mills at Harbin, which, had war not broken out, would have
experienced no difficulty in eventually depriving foreign flour of its
outlet...”
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| 3 |
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“...raw cotton from China
of 901,870 cwts. As this leaves only 2,230 cwts. for the rest of the
world, how is the known export of 62,650 cwts. to Germany;
13,000 cwts. to the United Kingdom ; 7,000 cwts. to Belgium, and
5,300 cwts. to Hong-Kong, to be accounted for ? While a few bales
may have been carried across to Japan by junk and thus withdrawn
from the cognisance of the maritime customs, it is hard to believe
that nearly 80,000 cwts. can have been shipped off in this way.
The consumption of the mills round about Shanghai has forced
Japanese buyers to go further afield, of which fact an increased
export of 238,000 cwts. from Hankow, and of 2,500 cwts. from Shasi,
affords evidence. The absence of packing facilities at the latter
port having made itself strongly felt, this drawback is being remedied
by the introduction of hydraulic presses.
Natural variations in the production and prices of raw material Textile fibres,
are elements with which every industry has to reckon, but unscrupu-
lous ...”
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