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: . 1 T ^ - . -. ' £ 1834 ... 842 , 852 1839 ... 851 , 969 loqe t 074 708 1840 ... 524 , 198 iS * ::: £ S £$£ i «« ... 862 , 570 1837 ... 678 , 375 184 . 2 .... 969 , 381 1838 ... 1 , 204 , 356 Thus the effect of tile Legislature putting an end to the monopoly of the East India Company was to excite the hopes of a wonderful trade with China , and to pause in two years an increase of exports to t he amoun t o f ne a rl y 500 , 000 * . This was , however , a speculative increase , and not / being founded on the wants of the Chinese , did not continue . In 1837 the exports sank below the value of the exports in 1834 * and on the average of the three years , 1840-42 , they were below the value of the exports when the Company ' s monopoly was abolished . Judg ing from the following account of the American trade , taken from De Bow , it appears to have declined in the same interval . AMERICAS TRADE WITH CUTS A . Total value of Imports and Exports . Dollars . 1836 ... 8 , 519 , 080 1842 ... 6 , 379 , 042 That anything happened in the domestic condition of China to cause an abatement of the demand for the goods of the Western world after the abolition of the monopoly , we do not believe . We never heard of a commercial convulsion at that time in China stopping trade , such as we have had in Europe and America . The rebellion had not then
though it promises now , even before this is settled , to exceed in the present year the highest amount it has ever attained since 1834 . In the interval , wh i le the exports to China have not made a continuous progress , and were actually less last year than thirteen years before , the general trade of our country , measured by its exports , has increased threefold . How is the slow and fitful progress of our trade with this vast empire to be accounted for ? It is not the consequence , we believe , of the disturbed state of China , for the industry of the people seems to have been uninterrupted , and our imports from China have continually enlarged . The value of these was , in "Value of Imports . 1848 £ 3 , 105 , 099
1851 5 , 371 , 675 1856 ( the latest accounts ) ... 9 , 421 , 648 The people who have so much to sell must be able to buy . They go on wearing clothes and using and consuming articles we can supply . Notoriously they h a ve emi grated to all parts of the earth , and have acquired a knowledge of European customs , and have adopted some European habits . They are imitative , and readily adopt arts and customs superior to their own . They are a material p eop le , the very incarnation , it is said , of common sense , and extremely anxious to traffic . That our trade has not rapidly and continuously increased is not their fault .
They have been willing to buy but our peop le have not made and sent them what they wanted . They like our cotton twist , and the export has increased from 2 , 640 , 090 lbs ., in 1845 , to 5 , 775 , 620 lbs ., in 1856 . But they do not want knives and forks , whi c h , according to Mr . Wingrove Cook , the Sheffield cutlers have sent them , nor pianofortes , which some London speculators shipped for their use . They prefer the produce of the looms of Lowell to the produce of those of Manchester . Into Shang hai , as an example , there were imported , between 1848 and 1851 , — In English vessels . In American vessels . Domestics—pieces . 26 , 228 127 , 960 Drills—ditto ...... 47 , 012 ...... 550 , 346
This is an official account ; in 1856 , according to Mr . Cook , the proportion was still more favourable to the Americans—221 , 716 pieces of drill imported by them into Shanghai , against 8745 pieces imported by us . The Chinese prefer , too , the common Russian woollen-cloth to our inferior , and we are afraid sometimes falsified woollencloth , and they use some of the silver we sond them to buy the commodities of our rivals and competitors . Our trade has not succeeded in China , therefore , because our people have not adapted their wares to the Chinese market .
They seem , unfortunately , to have supposed that the Chinese were as backward as their Tartar rulere , and because these were ignorant of the art of war that the people had negleoted the arts of peace . For ages the Chinese have been a shrewd manufacturing people , distinguished for their skill , and excellent mages of the commodities they make and use . On them woollen cloths and cotton goods cannot be forced , as the unwarliko mandarins were compelled to conclude treaties . Mistaking the Government for the people , our merchants thought tl ' io latter could bo as easily used for their purposes as the
former was conquered ; they have found themselves mistaken : the Americans havo profited by the treaties we have concluded , and our people arc disappointed , and angry ,, This jsi one sourco of tho mutual ill-will which , since 1834 , seems to have continually increased betwixt out- pooplo und the Chinese Our merchants havo reliod on treaties when they should havo relied on well-made calicoes and cloths , and though every treaty has disappointod them , they still persist in domancung and in relying on troatios . Even those who have explained tho causes of the former failut'os expect from Elgin what Pottingor failed to efTbot . In truth , tho
sending a superintendent to China—a political agent , the representative of the royal power not of trado—tho endeavours of that ngent and of tho Govornmont , to-proour ^» paum ^ coerce tlio Clnnose into more opon and official communication , havo impodod tho progross they wore meant , tp promote . Thoy havo made our people nogloot tho true commercial moans of suoooss , and have oxoitod continual hostility whord trado , unintorferod with , would have ensured continual and increasing friendship . Tho history of our trade with China since 1834 xs a striking illustration of the groat and , well-rocognisod truth that Govornmont never interferes in favour of trade without damagwgit .
broken out , and though it has been assigned as the cause of - a subsequent decline in pur trade , it cannot ever , have T ) een very influential . A more powerful cause for the interruption may be traced in our own proceedings . The same act of Parliament which in 1834 put an end to the m onop o l y of the East India " Company , placed the regulation of our trade with China under the protection and direction of a superintendent . To fulfil these novel and extraordinary functions , Lord Napier was appointed , -and he had scarcely reached the waters of Canton before the representatives of the Cabinets of St , James and JPekin began to
quarrel . Without pretending to adjust the balance " - © f right or wrong between the contending authorities , -we state the fact ; and from the arrival of Lord Napier at Canton till the capture of the forts of Canton b y us in 1841 there was an almost inceS " sant quarrel between the English and the Chinese authorities . This impeded communication and checked trade . A treaty was then exacted ^ by us . Hong-Kong was ceded to England , and the trade suddenly revived and expanded , as in 1834 . The declared , value of our exports was as follows , but henceforth they include Hong-Kong as well as Canton and the four ports opened by diplomacy to trade :- — £ £ 1843 ... 1 , 456 , 180 1862 ... 2 , 503 , 599 1844 ... 2 , 305 , 617 1853 ,.. 1 , 759 , 597 1845 ... 2 , 394 , 827 1854 ... 1 , 000 , 716 1846 ... 1 , 791 , 439 l&W * ... 1 , 277 , 944 1847 ... 1 , 508 , 969 1856 ... 2 , 216 , 128 1848 ... 1 , 445 , 960 1857 ... 1 , 459 , 667 1849 .,. 1 , 587 , 109 First half of 1850 ... 1 , 674 , 195 1868 ... 1 , 499 , 814 1851 ... 2 , 161 , 268 These results are similar to those in tho former period . The interference of tho Government by force- of arms and the treaty excited in 1 . 844 , . as did the abrogation of the monopoly in 1834 , great " * hopes of an extensive trade , and goods unsuitable to the markets wore at once forwarded in largo quaivtitles to China . In all other cases tho merchants and manufacturers study tho wants of their customers , and onl y expeot to extend their trado with Persia or Hindostan by manufacturing tho shawls and tho tunics that are in demand amongst those people . In the case of China it seems to havo been thought that an immense empire opened , as was boasted , to
our traffic by our arms and a commeroial treaty , was capable of absorbing , and was sure to absorb , " ^ hateve ^ amount-Q ^ bommod ^ kind , pur hasty speculators qhose to sond thither . Slowly , however , tho same influences proventod a continued increase of exports , as after 1834 , and they fell in 1848 to littlo more than half a million in excess of 1842 , Again quarrels cneucd between our authorities and those of Canton , and a now convention was agreed to in 1847 . The trade then went ahead , to reaeh 2 , 500 , 000 * . in 1852 . Afterwards it fell off , till , in 1854 , it did not much exceed its amount in 1884 , Subsequently it took a now start , to feel , in 1857 , the offeots of tho aow quarrel ,
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946 THE Ii EAT ) EE . , . [ yo . ^^ S gPTEMBEB 11 , 1858 .
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London , Friday Evening . We have again the satisfaction of reporting a continuous improvement in . the general trade of the country . All the various classes of industry in . the cotton , woollen , , and silk districts are fully occupied , yet they do not overtake the demand , and there is no accumulation of stocks . It will be noticed , further , that prices generally are rising—in some cases , as in flax , from a scarcity of the raw material , hut much more in consequence of the character of the demand for goods . In cottons higher terms have been established in the Liverpool market , hut they are less in proportion to the higher prices required by manufacturers arid spinners . This fact is a further confirmation of the statement made , in our last , that the profits of the cotton trade are returning to something like their old scale . There is still some depression in iron and hardware , but it is gradually disappearing , and we ( anticipate more cheering reports in future . Under present circumstances things are looking very satisfactory , and there are certainly no visible signs of reaction . Money is cheap and abundant , the people are well employed , foreign orders are enlarging , and stocks of all kinds of manufacture are generally exhausted . The year , therefore , is likely to close prosperously .
At Manchester the increasing activity ot business has been obvious all . theweek , both from the extent of transactions and the steady hardening of prices , which in many cases amounted to a decided and substantial advance upon the prices of last week . In yarns fpr export a fair amount was done , both on Tuesday and again yesterday , arid almost without exception on better terms for spinners . The improvement is most riiarked in mule yarns for India , particularly 40 ' s , which have been sold in large quantities , at an advance of fully id . per lb . over the rates of last week . For Russia 40 ' s to 50 ' s mule have ; been largely bought at very full prices ; and for China , a good business has ' been done in 20 ' s to 30 ' s water twist at id . advance . Purchases for Germany have been checked by the advancing prices , and the buyers are acting with extreme caution , but they are ¦ obliged to accede to the spinners'terms . Two-fold yarns are fully as good to sell , but the improvement is < most marked in the finest counts . Home-trade yarns are dearer all round , with a healthy and active doniand . Blackburn yarns , 32 ' s , are id . per lb . dearer ; and the finer counts , influenced by a demand from Bradford , have advanced in proportion . The spinners of 60 ' s and upwards complain , however , of difficulty in obtaining remunerative prices . The cloth market is also very iirm , and manufacturers are striving further to advance prices . In shirtings , jaconets , madapollams , and nearly all other descriptions , considerable business has been done for India and China . The Greeks are operating freely in T cloths and L cloths at hardening rates , with the turn of the market in favour of sellers .
At Blackburn on Wednesday , ' . the yarn-markot of which is second in importance only to Manchester , thcro was a brisk demand , which was not affected by tho advancing tendency of tho raw material at Liverpool . Mr . Alderman Baynesof that town has just collected tho following statistics of tho extent and importance of the cotton trade in the district , which may be interesting , as furnishing data for calculating tho productive powers of any particular locality : — " Sir . Baynes givos certain data for calculating the power , number of persons employed , wages earned , Sec , such as , that each real or mechanical horse-power will drive 450 self-acting mule spindles with preparation , or 200 throstle spindle * , or 15 looms for 40-inulios doth , with winding , warping , and sizing . Each horse-power , in spinning , will give employment to 24 operative . * , but in weaving , to ton persona ) , at wages averaging full 10 s . Cd . per week each pez-sou ~ -inon , women , and children , including short-timers . .... ' .., " There woro , on tho 1 st instant , in actual operation " in the town of Blackburn , ' 950 , 000 self-acting inulo spindles , and ( 15 , 000 throstle spincllos , total 1 , 1 ) 1 . * < <"' 0 spindles , and 25 , 800 power-looms , employing nU > ut 2 tf , 800 factory operatives ; and tho wages eanuil by thorn amounted to 12 , 500 / . per woek . Tho tutdl ivul power employed in -1150 horses . Thcro are , iii ¦ sedition , mills and sheds empty , or only partially hjiployed , capable of containing 75 , 000 mule Hpiii'llus , and lbOO looms , a portion of which will shortly ' » - 'it work .
" Tho fixed capital In mills and machinery Mr . It / iynos ostlinatos at 1 , 500 , 000 / . sterling , and tho flouting nipit u ' *« trfi'OOrOUO /? ybosidoB « telie 4 > ftl » LiiftQM . biutlt . oi ; a iu ! Q-i ! m f u \ ty \ U ^ keep to enable splonors and manufucUirora to holil 1 km Vy stocks of cotton , yarns , and cloth , whon it mny L > e couftidorcd advisable to do so . u Tho avorago counts of yarn spun and wovoii nro from OO ' a to 02 'a twist , and 8 d ' e toUO ' s weft yarn * ; im < l , taking'tho spinning production at lOovi . por sj rtniUu par weak , will give 824 , 7001 b . yarn apun per woe It , requiring $ ) 70 , 0 O 01 b . or 2000 bales of cotton , at a coat of 28 , 000 / . por wools . Tho yarn woven may bo taken nt 1 , 200 , 0001 b . por wcok , thus requiring 075 , 0001 b . of bought ¦ yarns from , other quiu'tore , at a cost of . 10 , 000 / . ror
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GENERAL TRADE REPORT .
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Leader (1850-1860), Sept. 11, 1858, page 946, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/vm2-ncseproduct2259/page/26/
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