The Russia-China trade began more than 250 years ago. Before 1860, it was carried wholly on land, and its balance was nearly even. Since 1860, when sea trade from Odessa was opened, the progress of this trade has been slower than the general foreign trade of China, and its balance has been heavily against Russia (6,702,000 against 45,945,000 rubles in 1900). More than half of the Russian imports into China consists of cotton fabrics, and over 80 per cent. of the exports from China to Russia are teas. Russia’s share in the entire foreign trade of China has also fallen from 4.6 per cent. in 1899 to 4.4 per cent. in 1900, 2.6 per cent. in 1901, and 2.3 per cent. in 1902, as compared with the growing share of the trade by Japan amounting to 14.2 per cent., 15.9 per cent., 15.7 per cent., and 18.4 per cent., in those respective years. Of the Russian share of 2.6 per cent. in 1901, Russian Manchuria occupied only 0.6 per cent. See the _Tsūshō Isan_, July 8, 1903, pp. 1–4; T. Yoshida’s _Shina Bōyeki Jijō_ (Trade Conditions in China), Tokio, 1902, pp. 128–129, etc. For the gold values of the figures up to 1903, see the British _D. and C. Reports_, annual series, No. 3280. Footnote 70: From Russian official figures quoted in the _Tsūshō Isan_, November 25, 1903. Footnote 71: The reader is recommended to the reports of the United States Consul Miller at Niu-chwang, particularly those which appeared in the daily _Consular Reports_ for January 21 and 24, and February 5, 1904 (Nos. 1856, 1858, and 1869). Reference should also be made to the ex-British Consul at Niu-chwang, Alexander Hosie’s _Manchuria_, London, 1901 (new edition, New York, 1904). The resources of Eastern Manchuria are well described in the _Tsūshō Isan_, October 13, 1903, and those of Northern Manchuria in the _Shiberiya oyobi Manshū_, Tokio, 1904, compiled by the Foreign Office of Japan, pp. 427–485. Footnote 72: The present population of Manchuria is differently estimated between the limits of 6.5 and 15 millions. Probably there are more than 10 millions. Immigration was said to have been progressing rapidly under the Chinese rule. It is noteworthy that Siberia, with a larger area than Manchuria, contains only about 8,000,000 inhabitants. The productive capacity of the Manchurian population must be measured, however, not only by their larger numbers, but also by their far superior economic training. Footnote 73: The _Tsūshō Isan_ for June 23, 1903, pp. 34–35. Pood = 36.112 lbs.; ruble = 51.5 cents. Footnote 74: Under this and other differential measures the commercial importance of Vladivostok is said to be fast passing away. Local merchants made a strong plea of their case before M. Witte when he traveled in the East in 1902, but on his return he reported to the Czar that the interests of the Empire demanded a large sacrifice at Vladivostok for the sake of Dalny. Footnote 75: