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Recently published Sir Thomas Wade points out that only about 94,000 piculs of opium actually arriving at Hongkong from India, some 25,000 piculs being transhipped or passed to other than Chinese open ports. Sir Thomas allows 7,500 for the Hongkong trade - that is for local consumption & Export as prepared opium and the balance of about 15,000 piculs he thinks enters China Coastwise. It has been the custom hitherto to assume that that large balance was smuggled into China because there was no record of it being transhipped from the Native Customs Authorities, but now it is shown by Mr. Thomas Wade that as much duty was paid in 1875-1876 to the Native Authorities on opium as was charged to smuggling.
I think the allowance of 7,500 piculs for the Hong Kong trade is considerably under the mark, and that for export & for local consumption boiled in Hong Kong there is more than 10,000 chests or piculs. I make this statement from information gained from the present farmers of the Hongkong monopoly.
The Opium farmers afford proof. The Colonel in his account states that the amount they paid for the monopoly of boiling opium was 10,000.
In 1879 the Opium farm of Hongkong passed into their hands, and the previous farmers established themselves at Macao where they successfully competed with the new Hongkong farmers and this led to the fact that they had the command of the American & Australian Markets, as none of the prepared opium could be sold in competition.
It now appears that during the year of such competition the present or new Hongkong farmers lost $150,000, whilst now that they and the Macao farmers have amalgamated, the farm is doing well. I was frequently told by the new farmers in 1879 that the local consumption in Hongkong paid them little, but that their chief profits were from Hongkong, San Francisco and Australia - the figures above mentioned seem to verify that statement, whilst it also supports the opinion that I have ventured to express, that Sir Thomas Wade in setting down 7,500 piculs for the Hongkong trade was considerably under the mark.
My object in calling attention to this subject is that it may be ascertained how far Hongkong will be affected by the duty on opium at present in force, or that if the San Francisco market is closed to the Hongkong farmers, the Colonial as well as the Indian Revenue must suffer considerably.
Russell
Col: Treasurer Hongkong.
Page 444