China : Report for the year 1903 on the trade of Chungking

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1		“...No. 3290. Annual Series. Reference to previous Report, Annual Series No. 3048. Report on the Trade of Chungking for the Year 1903 By Mr. H. E. Sly, Acting British Consul. (Chungking, June 30, 1904; received at Foreign Office, August 20, 1904.) An effort has been made in the following pages to supplement the information as to the value and volume of the trade of Chung- king with an idea as to the system under which it is conducted. In making this attempt the writer has been confronted with considerable difficulty ; the province of Ssuchuan is essentially a a land of rumours, more often than not idle and baseless, so that, however carefully one may probe, actual and reliable facts are not easy of acquirement. Furthermore, situated at so great a distance in the interior as the port of Chungking is, many peculiarities of commerce attach to it which have no existence in the more accessible trading centres. The pitfalls are many, and, this being so, it is hoped that every allowance will be made...”

2		“...partly cover the cost of the commodity in request. We will take it for the sake of argument that this is bristles or goat-skins ; should he happen upon a particularly good sample he purchases this for himself, an inferior quality only being bought on the account of the British firm. Remonstrated with at being unable to procure a better class of goods, he blandly asserts that he has obtained the best on the market. Again, in Ssuchuan the unit of 100 catties to the picul is but nominal, its actual value may be considerably more. For instance, in the purchase of goat-skins (coloured) and grey duck feathers 125 catties are allowed to the picul; in the case of wool (up-country) the allowance is from 106 to 125 catties, yet I have it on the authority of a British merchant resident in Chungking that the British employer in Shanghai accepts without question the usual quota of 100 catties to the picul. The difference in the exchange rate for the tael between this and Shanghai affords him a further ...”

3		“...CHUNGKING. 5 I am well aware that the argument is frequently advanced that the commercial inducements of Chungking are not sufficient to warrant the expenditure of maintaining a foreigner in residence. The steady advance in the trade of the port from 1894 to 1903, all allowance being made for the possibility of transfer of the likin to the Imperial Maritime Customs, does not, however, appear to justify so pessimistic a view. In 1894 the value of the total trade passing through the Imperial Maritime Customs was 10,781,505 taels ; in 1903 it was 29,224,698 taels. In other words, in nine years the trade of the port has almost trebled. It must, too, be borne in mind that at present only about one-fifth of the entire trade of Chungking goes through the foreign customs, the remainder passing under likin. There is one other objection to the employment of the Chinese agent to which attention should be drawn, and that is the difficulty of the position with reference to Chinese and Consular officials...”

4		“...is himself short of ready money, to sell, except on so many months credit, varying from 3 to 7J, at 1\| per cent, per mensem ; in other words, the period for which the discount of 1J per cent, a month is allowed in the case of cash transactions, namely, 7J months, is reduced respectively to 4\|, 3J, 2J, 1J, i months, and in the last instance disappears altogether. Deducting then the above discount from 11260 Chungking taels, the nominal market price of the yarn for ready money, and the selling value stands at 105, 10669, 10838, 11007, 11176 and 11260 Chungking taels ; take from this the further discount of 6 per cent, to cover depreciation in silver, and the actual sums for which the yarn would sell are 9870, 10029, 10188, 10347, 10509 and 10584 Chungking taels, the profits being 752, 911, 1070, 1229, 1391 and 1466 Chungking taels, or 8J, 10, Ilf, 13^, 15f and 16 per cent, on the original outlay of 91*18 Chungking taels. Further profits, too, are made on the exchange rate...”

5		“...transactions of this descrip- tion the Chinaman does not neglect the value of a single cash, and will profit by exchange where a foreigner would not. He may again obtain further benefit by purchasing at Shanghai when the market is low and the cost of a picul of yarn is 85 Shanghai taels at 94, equal to 79*90 Chungking taels, stocking the material in Chungking till the demand for it ensures a good selling pricesay 117 Chungking taels. It should also be added that three months credit is not common, the usual period being from four to six months. So much for the chances of profitwhat are the possibilities of risks and losses ? They are:(1) Unsuccessful speculation, the result in many cases of delay in transit; (2) defalcations by local purchasers; and (3) loss or damage by water en route by native junk from Ichang to Chungking. Damage by water is not a very great con- sideration as the commodity is only slightly deteriorated in value thereby; a total loss, however, is a serious matter and a contin-...”

6		“...customs report on the trade of Chungking during the year 1902, and which at the time excited comment in the Shang- hai Press. I admit that, compared with the figures given in the Consular trade report for the same year, in which it is shown that 71 per cent, of the chartered junks and 74 per cent, of the cargo carried by them were British, the assertion at first sight appears unwarranted, but there is a good deal behind it. It will be observed that Mr. Wilton did not state that 74 per cent, of the value of the trade was in British hands. That the British share in the trade of Chungking is an exceedingly large one regarded from certain stand- points I will endeavour presently to show, but not in the sense of the Commissioner of Customs remarks with reference to the Japanese....”

7		“...him absolutely as one of themselves, though envying him the advantages he derives from the use of the style aforesaid. Where then does the great interest which British merchants undoubtedly possess in the trade of Chungking actually lie ? A perusal of the remarks under Cotton yarn will at once suggest a reply. In 1903 Indian cotton yarn, as there shown, alone accounted for 1,849,676?. out of a total foreign import trade of 2,381,616?.in other words, 77*7 per cent. If to this is added the value of imported British textiles, we arrive at a grand total of over 2,150,000?., or 90 per cent, of the entire foreign import trade of the port; and yet this trade is, as I have endeavoured to showalso under the heading Cotton yarnalmost entirely in the hands of native merchants. Do then the British producer and merchant obtain an adequate share of the profits to be gained from the supply of and barter in their own produce and manufactures ? We will now turn to the export trade, the two principal...”

8		“...properly represented on the spot by their own nationals. The total trade of the port of Chungking which passed through the Imperial Maritime Customs in 1903 was 29,224,698 taels (3,850,963?.), the largest on record in silver value, though slightly below 1899 on a sterling calculation. In the latter year the figures were 25,792,677 taels, equal, at 3s. to the tael, to 3,868,901?. The average value of the Haikuan tael in 1903 was 2s. 7fc?. The gross value of the foreign import trade was 18,073,920 taels (2,381,616?.), or 700,000?. in excess of 1902. For this increase Indian cotton yarn, the figures for which rose from 1,157,302?. in 1902 to 1,849,676?., is responsible. Native imports stand for 378,707?., a falling-off from the previous year of 31,591?. The item showing the largest decline is silk piece- goods, which fell from 53,178?. to 22,438?. As in the year 1902, exports in 1903 show a decrease on the prece- ding year. The articles exhibiting the largest decline are Yunnan opium, yellow silk...”

9		“...summer long and hot. The decline in the import of kerosene oil62,200 against 91,400 Kerosene oil. gallons in 1902is only apparent. Conveyance by likin junk is cheaper and carries with it the right to sell at places en route. Native cotton yarn shows an increase in value over 1902 of Native 2,527?., but a decline in quantity of 9,579 piculs. Though superior JettonSyarn. in quality, it cannot compete in price with the Indian article. The value of the import of silk piece-goods was less than in 1902 silk by 20,740?., said to be due to increased manufactures locally, notably piece goods' at Chengtu. (See exports, raw silk.) Compared with 1902 the export of bristles shows an increase in Exports, quantity of 2,026 piculs and in value of 19,312?. Business in this BllstlePr article last year was not profitable, there was a crush of buyers and keen competitionparticularly from the side of the Japanese, who cheerfully paid the enhanced prices, which rose by leaps and bounds. Fungus showed a largely...”

10		“...Chinese post office. Nutgalls also show a falling-off in quantity and value. There was a good demand from Shanghai, but stocks were low. Ssuchuan opium, compared with 1902, exhibited a slight increase of 17,301?., but that from Yunnan declined 64,818?. Compared with 1901 there is a heavy decrease; the reasons given are low prices ruling in Shanghai and other markets, and interference with the export to Kwangsi, owing to the internal troubles in that province. It is a question, however, whether Ssuchuan is not already beginning to feel the result of the increased production of the drug in other provinces. Once the main source of supply for the whole Empire, it has now as competitors the provinces of Shantung, Honan, Anhui, Kiangsu, Kwangsi, Yunnan and Kweichow. The export of safflower declined considerably ; aniline dyes have .given the death blow to this staple. Raw silk, yellow, fell 1,808 piculs in quantity and 27,627?. in value, for which an increased demand for local consumption is said to...”

11		“...CHUNGKING. 15 Table 1.Return of Principal Articles of Foreign Origin Imported into Chungking during the Years 1901-03. Articles. 1901. 1902. 1903. Quantity. Value. Quantity. Value. Quantity. Value. Cotton goods Shirtings Grey, plain Pieces... 322,619 £ 190,824 320,955 £ 166,896 387,166 £ 132,645 White 62,109 25,436 34,797 15,787 49,699 24,231 Drills, American it 18,987 10,391 12,085 6,095 15,340 7,277 White Irishes ,, 14,891 7,269 18,342 8,322 10,664 4,914 Sheetings, British ... 39,159 20,273 30,515 15,828 23,878 11,276 Cotton prints, plain, chintzes 12,163 3,598 15,344 5,206 15,960 6,099 Turk ey-red cottons ... ,, 11,348 3,861 12,885 4,455 13,075 5,031 Cotton, Italians, plain and figured 105,340 62,326 66,012 34,326 74,651 73,776 Cotton lastings ,, 64,736 41,174 60,656 34,795 60,232 62,701 ,, yarn British Piculs... l 291 1,373 294 1,433 Indian 240,981 1,215,498 261,833 1,157,302 383,696 1,849,676 Japanese ,, 2,486 10,922 4,550 18,336 \| 3,759 17,980 Cotton and...”

12		“...16 CHUNGKING. Table II.Return of Principal Articles of Native Origin Imported into Chunking during the Tears 1901-03. Articles. 1901. 1902. 1903. Quantity. Value. Quantity. Value. Quantity. Value. Books, printed Piculs... 296 £ 1,299 1,501 £ 7,027 589 £ 5,083 Brass foil ,, 230 1,295 95 469 93 431 Brassware ,, 161 654 231 1,202 204 1,035 Buttons, brass n 167 1,499 176 1,374 112 925 Cassia Lignea >> 189 570 130 557 148 536 Buds ,, 176 242 ... 52 225 Twigs ,, 1,778 737 i202 500 2,855 1,448 China root ,, 2,391 4,882 6,471 11,777 5,947 6,034 Cotton Raw ,, 2,112 5,497 2,390 5,594 2,332 5,949 Ribbons ,, 26 265 48 440 56 420 Yarn ,, 52,952 218,448 74,161 268,740 64,582 271,267 Cuttlefish ,, 2,651 5,412 617 1,123 1,073 2,333 Fan handles Number 466,289 481 507,178 507 292,825 411 Fans Fancy 226,425 1,250 119,355 833 183,739 916 Paper }l 2,244,579 14,608 1,141,101 5,340 1,052,451 10,679 Silk 72,646 1,531 80,505 1,427 48,957 815 Glass or vitrified...”

13		“...CHUNGKING. 17 Table III.Return of Principal Articles of Export from Chungking during the Years 1901-03. Articles. 1901- 1902. 1903. Quantity. Value. Quantity. Value. Quantity. Value. Bristles Piculs 8,070 £ 23,639 9,148 £ 22,856 11,174 £ 42.168 Feathers, duck, fowl, &c. n 3,740 2,775 3,292 2,127 2,887 1,903 bungus ,, 2,812 9,943 1,600 5,199 3,152 13,083 ,, white > 23 1,539 19 1,106 37 2,205 Hemp 12,594 10,991 17,662 18,139 13,432 17,522 Hides, cow and buffalo 3,570 7,7l0 7,468 16,505 18,570 56,770 Lead In pigs 8,124 8,172 4,178 3,422 4,704 3,905 White 250 366 208 292 406 361 Leather 918 3,122 1,280 4,142 1,456 6,216 Medicines 98,000 108,694 ... 98,107 Musk Ozs. 61*,789 124,671 66,330 117,247 58,247 98,783 Nutgalls Piculs 9,287 24,727 1 13,263 29,312 10,737 25,467 Opium- 1 Native, Ssuchuan ... 11 12,266 465,396 1 4,387 233,818 4,830 251,119 Yunnan 51 3,761 161,213 2,004 124,768 1,008 59,950 Dross 11 346 6,149 247 3,850 113 1,782...”

14		“...Table IV.Return showing Destination of Cotton Goods forwarded under Transit Pass into the Interior during the Year 1903. Description. Ssuchuan. Yiinnan. Kweichow. Total. Quantity. ! Yalue. 1 \| Quantity. Value. Quantity. Yalue. Quantity. \| Yalue. £ £ £ ! £ Shirtings Grey, plain Pieces 32,965 11,294 8,090 2,772 1,430 490 uo 00

15		“... i ] 1 1902. ! [ 1903. Cotton yarn Lbs. Lbs. Lbs. Lbs. Lbs. British .. 71,733 12,133 33,379,600 ., i 38,800 39,200 Indian .. 38,912,133 32,130.800 '34,911,066 51,479,467 Japanese.. 4,375,066 4,728,533 331,600 606,666 501,200 Chinese .. .. i 14,263,333 18,202,133 7,060,266 ; 9,888,133 8,646,933 Cotton, raw .. \| 8,722,533 936,000 281,600 1 318,616 310,933 Table VI.Chartered Junks during the Years 1901-03. 1901. 1902. 1903. Nationality. ! Number of Vessels. ( j Value of Number of Vessels. \| Value of Number of Vessels. Value of I Cargo. I Cargo. ! Cargo. £ ! £ £ British .. 1,877 2,759,051 \| 1,659 2,363,470 1,736 2,804,182 Chinese .. 487 778,335 460 656,961 425 620,567 German 56 52,411 \| 122 93,102 \| 119 107,525 Japanese.. .. .. 99 95,015 324 318,052 French .. .. i . 1 1 9 7 976 Total .J 2,420 3,589,797 2,341 3,208,557 1 2,611 3,851,302 Table VII.Beturn showing Duties Collected by the Imperial Maritime Customs during the Years 1901-03. Yalue. Description. 1 1901. 1902. 1903. ...”