10
408
per
an increase upon the three
cent duty levied under the Treaty of 1855, if such increase were accompanied by the cessation of the present trade restrictions. Looking, however, to the fact that the general trade between Hongkong and Siam is believed to be increasing, and to other circumstances, it would appear that the capital formerly invested in the spirit trade has been diverted into other channels of enterprise, without appreciable loss to the general wealth of this Colony.
Circumstances might, however, arise which would again make it profitable for merchants at Hongkong to engage in the spirit trade with Siam. If that were so, the proposed duty of 72 cents per gallon would be altogether prohibitive. With a view therefore to securing a more equitable tariff it might be considered
(1) Whether the spirits exported from Hongkong exceed in alcoholic strength those manufactured in Siam