*
449
relieved by a recent improvement in clearances which is
said to be due to the Chinese Authorities being less
strict in enforcing the regulations and tax. I do not
know what truth there is in this latter surmise.
I have obtained the facts set
out above in order to convey to Your Lordship, and I
trust through Your Lordship to His Majesty's Consular
Officers in China, some idea of the magnitude of the
interests involved in a trade which Merchants and Traders
and Bankers in this Colony have a right to regard as
legitimate and protected under existing Treaties. The
sudden and wanton interference of the Viceroy has already
caused heavy losses to those concerned in that trade, and
has narrowly escaped inducing a financial crisis of great
magnitude.
{
I regret to have to add my
opinion that if timely action had been taken in Canton when
the Viceroy's proposals were first mooted to His Britannic
Majesty's Consul-General those losses would have been
avoided and those concerned in the trade would not now be
struggling to escape from a financial dilemma which,
unless removed, may yet cause the ruin of some of them.
I