itish
trade is losing ground, while Japan, China, and India are taking a hand
in the game themselves.

In 1893, 100,000 pieces of American drills were imported into China; in
1897, 349,000. In 1893, 252,000 pieces of American sheetings were
imported against 71,000 British; but in 1897, 566,000 pieces of American
sheetings were imported against only 10,000 British. The cotton goods
and yarn trade (which forms 40 per cent of the whole trade with China)
shows a remarkable advance on the part of the United States. During the
last ten years America has increased her importation of plain goods by
121 per cent in quantity and 59.5 per cent in value, while that of
England and India combined has decreased 13.75 per cent in quantity and 8
per cent in value. Lord Charles Beresford, from whose "Break-up of
China" these figures are taken, states that English yarn has receded and
Indian yarn advanced to the front. In 1897, 140,000 piculs of Indian
yarn were imported, 18,000 of Japanese, 4500 of Shanghai-manufactured,
and 700 of English.

Japan, who but yesterday emerged from the mediaeval rule of the Shogunate
and seized in one fell swoop the scientific knowledge and culture of the
Occident, is already today showing what wisdom she has acquired in the
production of surplus value, and is preparing herself that she may
tomorrow play the part to Asia that England did to Europe one hundred
years ago. That the difference in the world's affairs wrought by those
one hundred years will prevent her succeeding is manifest; but it is
equally manifest that they cannot prevent her playing a leading part in
the industrial drama which has commenced on the Eastern stage. Her
imports into the port of Newchang in 1891 amounted to but 22,000 taels;
but in 1897 they had increased to 280,000 taels. In manufactured goods,
from matches, watches, and clocks to the rolling stock of railways, she
has already given stiff shocks to her competitors in the Asiatic markets;
and this while she is virtually yet in the equipment stage of production.
Erelong she, too, will be furnishing her share to the growing mass of the
world's capital.

As regards Great Britain, the giant trader who has so long overshadowed
Asiatic commerce, Lord Charles Beresford says: "But competition is
telling adversely; the energy of the British merchant is being equalled
by other nationals. . . The competition of the Chinese and the
introduction of steam into the country are also