COTTON TEXTILES IN FOREIGN COUNTRIES. 137 



lengths of 40 yards, and 36 inches in width, vary in weight from 9 to 

 13 pounds, or even more for strong cloths ; and are designated as to 

 quality by reeds 54 to 56 reeds being common, 58 to 60 reeds middling, 

 64 to 66 being good. 



HOW PURCHASED. 



Having carefully compared the descriptions and valuations of custom- 

 house appraisers at Canton, with the commercial reports of the Hong 

 Kong Chamber of Commerce, and the most reliable trade reports of 

 Shanghai, for the week ending July 26, 1889, and reduced the Mexican 

 dollar currency of Hong Kong, the " commercial taels" of Shanghai, 

 and of China generally, and the " Haikwan taels" of the Chinese Im- 

 perial Customs, to the standard of United States gold currency, I beg 

 to state the following particulars, showing how cotton textiles, and 

 especially gray and white shirtings, are bought and sold in Canton, 

 and at the two great or chief mark ets for cotton textiles on the coast 

 of China, or Eastern Asia, for Chinese consumption, or use. 



Canton and the other ports of Kwangtung province and of southern 

 China get or buy imported or foreign textiles principally in Hong-Kong, 

 where stocks are kept by the large and wealthy foreign merchants, who 

 are well and widely known as commission merchants, ship agents, and 

 owners, etc., to whom consignments are made direct from Europe and 

 America sometimes, perhaps, on joint account. 



The sales are made through Chinese brokers and compradores to 

 native jobbers and dealers in Hong-Kong and Canton ; and payments are 

 usually made promptly, or within a week or ten days, if not on de- 

 livery of the goods. 



At Canton, as at most of the Chinese ports, the foreign merchants 

 give their attention chiefly to execution of orders from Europe and 

 America for the productions of China. 



The two ports at which foreign cotton textiles are bought and 

 sold in large quantities are Hong-Kong (for southern China trade) and 

 Shanghai (for central and northern China trade). The quotations of 

 prices at Hong-Kong are given or stated in trade circles in Mexican dol- 

 lars and cents currency ; 74 cents United States currency being about the 

 present value of the Mexican dollar. When the goods are purchased 

 in Hong-Kong they have not been subjected to any duty, as that is a 

 free port; but upon reaching Canton and other ports of China the 

 Chinese imperial customs collect a specific duty on the goods on the 

 basis of pure silver, stated in the Haikwan taels, of the value of about 

 $1.56 Mexican currency, or about $1.15 United States currency. At 

 Shanghai, as throughout China, the commercial tael is about $1.39 

 Mexican, equal $1.04 United States currency; and the price quoted 

 includes the duty. 



Traffic between Canton and Shanghai is extensive enough to keep in 

 motion about fifteen steam- ships, aggregating 20,000 tons. Freights 

 are moderately low. The trip seldom exceeds four days each way. Can- 



