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sum him to pay a large sum for the farm but it obviously tends also to restrict local consumption. An apprehension is expressed in the despatch under reply that the farmer may lower his price in the hope of making a larger profit by means of an increased consumption.
There are no grounds for this apprehension. Those of his customers who are well to do would not smoke more opium if the price were reduced, and the remainder have only a limited amount of money to spend under any circumstances on the drug. It is clear therefore that while a reduction of price would induce a larger consumption by the latter class, it would diminish and not increase the total of the farmer's profits. His receipts being the same, his profits would be decreased in any case.
4.
$1