(2)
translation of which we enolose, will show that the whole scheme is nothing less than an establishment of a monopoly and the entire opium trade in the province of Kwangtung is to be at the mercy of the Kwong
Wing Un Hong and their Agents.
As you are aware, since the proposal was first mooted the opium
market has been in a state of great depression and there has been an
entire stoppage of the trade. As an evidence of this abnormal state
of affairs is entirely due to this cause, we may mention the fact that a couple of days ago the dealers finding that the tax has not been enforced for ao long, were encouraged with the hope that the proposal was being shelved, This gave them a certain amount of confidence and
they resumed busines8, Unfortunately, however, their hope was soon frustrated, as yesterday morning, quite unexpectedly, they received advices from Canton that the tax was enforced and instructions to stop
all shipments with the consequence that the market bas again become
demoralised,
L
To give the Chamber an idea of the immense losses that we have
so far sustained through the high-handed aotion of the Kwong Tung
Authorities it will only be necessary for us to say that since the
issue of the first proclamation regarding this tax, prices of opium
have declined about $ 1,000. per obest and with the heavy stocks that
have been accumulating in our hands through the entire osssation of business for the last couple of months it will not be difficult for any one to realize how oritical the situation has become and with what
alarm we view the future ir energetio steps are not promptly taken by
H. B. M's Government to bring about the abolition of this tax and the
withdrawal of all other restrictive measures.
t
As pointed out by our Shanghai firms in their letter to H. B. M
Minister in September last, we have been engaged in the opium trade
for a great number of years and have been trading under certain con- ditions secured to us by treaties and it is only but right and equit- able that before these conditions are allowed to be in any way modi- fied or altered we should be given due notice and sufficient time to
dispose of our stocks and get our money from the purchasers.
Apart from the fact that we as British Merchants are entitled to have the support of our Government in the legitimate pursuit of
our