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“...commodities consumed by the
Chinese abroad, there is no doubt that if the likin system continues
these industries will decay and ultimately perish. For instance,
take the three principal items: paper, ironware, pots and pans,
and coarse chinaware. Doubtless Chinese manufacturers will
soon find it (o their interest to establish manufactories of these
articles in duty-free, lilcin-free Singapore and Hong-Kong, and
thus escape duty, likin and freight. If water-power is not
procurable there for paper mills, other power will take its place.
Probably it will take longer for likin to kill these industries
than it has taken to kill the tea industry and than it will take to
kill the sugar industry, because these commodities are less
perishable than tea and sugar. But the end, though farther
distant, is equally certain unless there is a reform of the likin
system.
The foreign imports into Amoy during 1897 do not call for
much comment.
Foreign opium was imported in 1897 to the value of 329,566/.,
against...”
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“...machinery, and for the fact that profits diminish as machinery
grows antiquated. When the machinery requires renewal, one of
two steps will have to be taken, both of which may be attended
with difficulty, a call on the shareholders or the borrowing of
money from the banks. The Japanese banks trade on a smaller
capital than wc should consider safe, and it is possible that when
the manufacturers require to raise money by borrowing they may
experience difficulty in obtaining it. At present the cotton mills
are working at an advantage with the very newest of machinery ;
it is not easy to predict what will happen when the machinery
gets antiquated.
Woollen textiles show a slight increase, the i mparts during Woollen
1897 amounting to 20,798/., as against 19,260/. during 1896. textilea.
Other imports are much the same as in 1896.
There is a great increase in the import of k^msene oii, mostly Kerosene oil.
American. Kussian kerosene, in spite of the advantages it
possesses in being imported and stored...”
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