‘REPORT ON THE ADMINISTRATION OF THE BOMBAY PRESIDENCY, FOR THE YEAR 1919-20’ [‎286v] (120/192)

Chapter IV.
production
AND
DISTRIBUTION.
BOMBAY ADMINISTRATION REPORT.
tanned skins remained practically stationary. The principal ore exeorf
Bombay was manganese, and with prices at the ports in the neighb ^
Rs. 18 per ton, the trade is one which in the absence of control
depend very largely on freight rates. Consequently in the year undp to
the bulk of supplies went from Bombay rather than Calcutta. I n
the other hand, when freight was distributed under instructions im 11
Ministry of Shipping, more than half the trade passed through Calcutta ^
exports of oil-seeds during the years 1917-18, 1918-19 and 19lQ.on ihe
5,428,848 cwts., 4,520,433 cwts. and 7,568,681 cwts. worth, respect^?
Rs. 5*3 crores, Rs. 5*70 crores and Rs. 11*87 crores. The exports during igiftiq
were the smallest recorded for very many years. Restrictions on ml
imposed for reasons connected with the war, lack of tonnage, and, in the Jt
part of the year, failure of the crops, all combined to prevent any advanta^
being taken of the great demand from Europe. In the year under report circum
stances were hardly more favourable. Though export restrictions were
removed early in the year, freight continued scarce and supplies were short
Later in the year after a good monsoon and with an increase in the shipping
available, prospects improved, hut fresh difficulties were encountered. Fluctuat
ing exchange and telegraphic delays hampered forward business, and, most
important of all, the greatest difficulty was experienced in moving stocks’down
to Bombay. In the latter part of the war, when railway congestion was even
worse, certain oil-seeds had the advantage, through their importance for war
purposes, of being entitled to priority treatment on railways. The abandonment
of the priority certificate system was a serious blow to this trade, which in
favourable circumstances should easily have surpassed pre-war records. The
increase actually recorded in no way represents the potentialities of the trade,
The value of exports of raw cotton rose from Rs. 27 crores to Rs. 48 crores, a
record figure. Exports during 1918-19 were so restricted as a result of the
high range of prices during the greater part of the year that, despite the
shortage in the crop, the estimated stocks in Bombay on the 1st April stood at
the high figure of over 1,000,000 bales. Owing to the combined effects of the
armistice, the unrest in the Punjab, and the manufacture and sale of standard
cloth, prices had been declining for several months and the spot rate for
F. G. Broach on April 1st was Rs. 461. With more reassuring news
from the north, prices rose in sympathy with American rates, reaching the
highest point of the year on July 21st with F. G. Broach quoted
at Rs. 667. Thereafter the American market weakened, good weather
reports were received, and exchange rose, as a result of which prices
fell about 200 points by the middle of September. In November temporary
railway difficulties coupled with a rise in American rates stimuaee
the market, and the depressing effects of further exchange movements were
counteracted by the large profits declared by the Bombay cotton mills, rices
continued to remain steady despite the prolonged mill-strike until the pu ic
tion of the report of the Currency Commission, which produced an 1I ^ me J
drop, and although exchange declined during March, prices did no re
owing to the very large stocks still held in Bombay. Mention shou
of the sobering influence of the Cotton Contracts Committee on the sp ^
tendencies of the market, which effectually prevented a repetition o
price-fluctuations of 1918. The total exports of cotton V ieGe ^ 00 \ f rOI)1
quantity from 118 million yards to 161 million yards and , m | V iL| s ye
Rs. 4*7 crores to Rs. 6*56 crores. The most striking developmen £
was the continued growth of the business in coloured goods w ^ g 011
constituted a comparatively small share of the total. Japanese ^ ^ ^
had seriously interfered during the war with exports of Indian j
China markets, but during 1919-20 great strides were made m
of recovery, the value rising from Rs. 7 crores to Rs. 16 crores. ^ ^
5. Prior to the war imports from the United Kingdom C0 J 1 ^ In
60 per cent, and imports from Germany about 10 per cent, o
1913-14 Japan had supplanted Mauritius in the third P ace ^ en 01 ]ly3'2l
supplying countries, but her share in the import trade was even _ gydo©
per cent, with a value of just over two crores. By 1918-19, nurse noh- eX ^ eI ^
share had sunk to 40 per cent. ; German trade w 7 as of c